Similarly to most law firms on the market, the Austrian firm expects growth this year, after the legal services market could not avoid the recession in the past two years.
“The first quarter leads us to be optimistic about the full year. We recorded a 5%-7% increase of the invoices against last year, as well as an increase in the number of projects in the pipeline,” said Sebastian Gutiu, managing partner of Schoenherr si Asociatii.
“Our lawyers are quite busy, considering that we are 10% fewer and the volume of work is higher. There is no longer the madness of the times of boom, but we can talk about an efficient allocation of resources for a significant volume of work.”
The firm currently has 48 lawyers and is among the largest branches of international firms, which have in the past few years set up more than ten local offices in Romania.
According to its financial report, Schoenherr posted an over 15% increase in revenue last year to EUR7.3 million, but Gutiu says the figure does not fully reflect the trend of revenue, considering that the activity of lawyers working for international firms can also be invoiced on other markets, in the case of multi-jurisdiction projects.