TÜV SÜD on Growth Course: Significant Rise in Revenue and Earnings

MUNICH, May 17, 2011 /PRNewswire/ -- TÜV SÜD significantly stepped up its pace of growth in 2010. In the past year, the international service corporation increased its revenue by 10.1 per cent to over EUR 1.55 billion (2009: EUR 1.41 billion), while earnings before taxes even show a year-on-year increase of 21 per cent to EUR 123 million (2009: EUR 102 million).

The TÜV SÜD headcount rose by 1,600 to over 16,000 employees. The company reported growth throughout all divisions and regions and also got off to an excellent start in the current fiscal 2011. Chairman of the Board Dr Axel Stepken thus summarized the group's favourable situation at today's annual balance sheet press conference, held at the corporate headquarters in Munich. Stepken emphasized, "We expect further dynamic growth in 2011, driven by factors including numerous international acquisitions." TÜV SÜD also expects strong impetus from innovative growth areas such as energy from renewable sources and electromobility.

Safe electromobility: TÜV SÜD aims to become the market leader

The company is also continuing at full power along the road of electromobility. Horst Schneider, Member of the Board of Management of TÜV SÜD AG, believes the group is well on the way to its goal of becoming the world's number one provider of battery testing and certification services for electric vehicles. To this end, TÜV SÜD is currently further expanding its global network of testing facilities by adding new laboratories in North America, Singapore and Germany. According to Schneider, the acquisition of Innovative Testing Solutions in Canada early this year was a significant step towards consolidating this leading position.

Energy transition provides significant impetus for business

In the area of future energy supply, too, important decisions which will determine the course of future development are currently being made. "In the wake of Fukushima, the theme of energy transition is dominating public discussions," said Stepken. The primary goal of energy transition, he warned, must be to ensure safe, reliable and, not least, also affordable energy supply. To reach this goal, renewables and their associated infrastructure need to be expanded rapidly, the use of fossil resources in coal- and natural gas-fired power stations optimized further, safe and reliable operation of existing power stations ensured and the efficiency of energy input significantly improved. "At TÜV SÜD, we provide services in all of the above areas," explained the Chairman of the Board of Management. "By providing our expertise and experience, we make a major contribution to ensuring the safety and reliability of all types of energy production and transfer." Given this, he described the energy transition as a major opportunity for the further successful development of TÜV SÜD.

Consistent expansion of renewables

TÜV SÜD sees major growth opportunities in the field of renewables, particularly in the field of wind power. "We will continuously further expand our capacities and expertise in this area," declared Stepken. He announced that TÜV SÜD will continue its upward momentum over the coming years, creating a large number of jobs. The company also continues its aim of raising revenue to EUR 2.4 billion by 2014.

Detailed information and photos are available at

http://www.tuev-sued.de/balancesheetpressconference

[i] TÜV SÜD is a leading international service organization catering to the strategic business segments INDUSTRY, MOBILITY and CERTIFICATION. Over 16,000 employees are represented at more than 600 locations throughout the world. Optimizing technology, systems and know-how, the interdisciplinary specialist teams act as process partners to strengthen their customers' competitiveness.

    
    Media Relations:

    Matthias Andreesen Viegas
    TÜV SÜD AG
    Corporate Communications
    Westendstr. 199, 80686 Munich

    Tel. +49(0)89/57-91-1613
    Fax +49(0)89/57-91-2224
    E-mail matthias.andreesen@tuev-sued.de
 
    Internet http://www.tuev-sued.de

SOURCE TUEV SUED AG