Press Release
Annual results press conference of Germany's largest TÜV organisation
7 May 2015
TÜV SÜD continues on course for growth: revenue exceeds
EUR 2 billion
 New records in 2014: revenue of EUR 2.061 billion and earnings of EUR 187 million (adjusted EBIT)
 Global player: TÜV SÜD already has more employees abroad than in Germany
 Major investments: in 2014, total investments in the future and in acquisitions amounted to around
EUR 100 million
 Growth markets: innovative mobility, renewable energy and data security/Industry 4.0
 Dedicated to safety since 1866: in 2016 TÜV SÜD will celebrate its 150th anniversary
Munich. Growing strongly in 2014, TÜV SÜD set new records in revenue, earnings and
headcount. Last year the international service corporation increased its revenue by over 6 per
cent to almost EUR 2.061 billion (2013: EUR 1.934 billion); earnings before interest and taxes
(adjusted EBIT) rose by 9 per cent year-on-year to around EUR 187 million (2013: EUR 171
million). The number of people working for the largest German TÜV organisation grew to over
22,000 employees worldwide last year.
“TÜV SÜD has long since grown beyond its national borders. Today, we are a global player. Our
services are in rising demand around the globe – the reason why we already employ more staff abroad
than in Germany“, emphasised Dr Axel Stepken, Chairman of the Board of Management of TÜV SÜD
AG, at the company's annual results press conference in Munich today.
According to Stepken, TÜV SÜD is set to continue on its growth trajectory. In 2015, TÜV SÜD will grow
at a similar pace to 2014, continuing to expand its international business and recruiting new employees
worldwide. TÜV SÜD’s acquisitions also reflect the company’s course of international expansion. In
2014 TÜV SÜD acquired six companies in locations including Singapore, Turkey and the USA. Together
with these acquisitions, TÜV SÜD invested around EUR 100 million in expanding its business in 2014.
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In light of this, when presenting the financial statement Dr Matthias J. Rapp, CFO of TÜV SÜD AG,
emphasised, “TÜV SÜD has a very sound financial structure and is excellently prepared for continuing
to position itself in promising business areas and make significant investments in innovative
technologies in the future.”
Broadly based success: significant growth across all segments and regions
All TÜV SÜD segments contributed to the company’s success in fiscal 2014:
The INDUSTRY segment increased its revenue by over 10 per cent to EUR 880 million, in the
MOBILITY segment revenue grew by around 5 per cent to EUR 609 million, and the CERTIFICATION
segment recorded a year-on-year plus of almost 6 per cent to EUR 488 million.
The company’s diversification is a plus in every respect: “TÜV SÜD’s strength is evident both in
Germany and abroad. Even in our fiercely competitive home market of Germany, we managed to
increase our revenue by more than 4 per cent in 2014 – again, strong impetus for growth came from
Asia, where revenue rose by 11 per cent, and the Americas, which recorded growth in revenue of
almost 16 per cent”, underlined Rapp.
Expansion of the portfolio of services for renewable energy
The fact that we have positioned ourselves in innovative technological areas of the future is one of the
key elements of our growth. Over recent years, TÜV SÜD has continuously expanded its activities in the
field of renewables, particularly wind energy. “The market for wind energy is becoming increasingly
mature and international”, explained Stepken. “Recently, for example, we completed type testing of a
new wind turbine made by the Chinese manufacturer Dongfang Electric. The turbine will be used at
various locations including the Blaiken wind farm in Sweden.”
As the market for wind energy grows, so does the demand for testing and inspection. Germany alone
has almost 25,000 onshore wind turbines, which need to be inspected every two years. In a pilot project,
TÜV SÜD tested the use of remotely controlled drones equipped with cameras for wind turbine
inspection. Use of the drones would reduce the time needed for inspection to a quarter of the time
needed for the conventional inspection carried out by tower climbers.
TÜV SÜD is also one of the key players in the offshore wind energy market. In 2014, TÜV SÜD's
experts completed certification of the Dutch Gemini wind farm in the North Sea and were awarded the
contract for certification of the “Sandbank” offshore project off the German island of Sylt. TÜV SÜD will
also carry out certification of the “Nordsee One” wind farm, with 54 wind turbines off the island of Juist.
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After completion in 2017, the wind farm will deliver enough power to supply around 400,000 households
with electricity.
Future-focused strategy: ensuring data security for Industry 4.0
The spread of digitisation throughout virtually all areas of the economy and society is another important
field of growth for the international technical services group.
”By accompanying pilot projects and developing in-house solutions, we are supporting this trend across
a wide range of industries”, emphasised Stepken. “All our activities in this field revolve around the
central question of how to use the opportunities of digitisation while keeping the associated risks to a
minimum.”
For example, TÜV SÜD is a member of the SmartFactory KL initiative, which tests the use of innovative
information and communication technologies in the field, i.e. in industrial production. And at Hannover
Messe, the company’s experts recently presented a position paper on the modular certification of
integrated production systems which will be used in Industry 4.0.
From new drive systems to automated driving – TÜV SÜD ensures safety in mobility
Klemens Schmiederer, Member of the Board of Management of TÜV SÜD since February 2015,
emphasised the importance of third-party testing for the market acceptance of innovative technologies
such as e-mobility: “The offer of hybrid-electric and fully electric cars is growing steadily. Consumers
must be able to rely on the information provided about range and vehicle safety. TÜV SÜD is supporting
manufacturers in this area by providing performance, reliability and crash tests. Six testing laboratories
in Germany, USA, Canada, China, Korea and Singapore, offering standardised testing facilities and test
methods, are assisting our customers in this field, while testing laboratory number seven will be opened
in Japan this year.“
Schmiederer also sees major opportunities for TÜV SÜD in the field of automated driving: “In the design
and development phase, our expertise will assist manufacturers, paving the way for testing on public
roads. Later on, our know-how will be in high demand for approval and operation.” Based on its longstanding expertise in the rail sector, where partially and fully automated driving are part of everyday
operations, TÜV SÜD has valuable experience in this field that can be transferred to the automotive
sector.
Over 12 million periodic vehicle inspections in Germany and Turkey
By introducing new test methods, TÜV SÜD also reflects increasingly complex automotive technologies
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in its periodic technical inspections. With effect from 1 July 2015, the experts will use a new special test
instrument called the ‘HU adapter' for testing safety-relevant driver assistance systems such as ABS or
ESP. At 5.3 million periodic technical inspections, the traditional vehicle inspection business continued
to perform at a stable rate in the German market, while in the Turkish market TÜV SÜD actually
recorded a significant increase. TÜVTURK, TÜV SÜD’s affiliated company in Turkey, carried out around
seven million periodic technical vehicle inspections, a 15 per cent plus compared to the previous year.
Germany’s first TÜV organisation: successfully acting on behalf of society for almost 150 years
Shortly after 1 pm on 28 January 1865, a steam boiler exploded in the Aktienbrauerei, a Mannheim
brewery. The accident rocked the city, claiming one life and injuring four. Caused by insufficient water
levels, excessive pressure and poor maintenance, it jolted local steam boiler operators into establishing
an organisation aimed at increasing the safety of technical plants and systems. The “Association for the
Inspection and Insurance of Steam Boilers, domiciled in Mannheim”, the predecessor to today’s
TÜV SÜD, was founded in 1866.
Chairman of the Board of Management Dr Axel Stepken underlined, “The establishment of the
Inspection and Insurance Association in 1866 marked the birth of the concept of technical safety. Since
then, our company’s mission has remained unchanged: TÜV SÜD is dedicated to making technologies
safe, reliable and sustainable. By doing so, TÜV SÜD makes technologies ultimately acceptable for
people and for our society. Our activities ensure that people can trust in technology – and that
customers can trust in their suppliers, even though they may be thousands of kilometres apart.“ In 2016
TÜV SÜD will celebrate its important societal function in a fitting manner in Germany and around the
globe.
Note for editorial staff: High-resolution photos can be found in the "Media photos" category www.tuvsud.com/pressphotos.
Further press material: This subject is also addressed in a podcast. The complete broadcast and the
original speech held by Dr Axel Stepken will be available for download from 4 pm www.tuevsued.de/audio-pr. The contents of the press folder are available for download at www.tuevsued.de/bilanzpressekonferenz.
Media Relations:
Matthias Andreesen Viegas
TÜV SÜD AG
Corporate Communications
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Tel.
+49 (0) 89 / 57 91 – 16 13
Fax
+49 (0) 89 / 57 91 – 22 69
Email matthias.andreesen@tuev-sued.de
Westendstr. 199, 80686 Munich
Internet www.tuev-sued.de
TÜV SÜD is a premium quality, safety, and sustainability solutions provider that specialises in testing, inspection, auditing,
certification, training, and knowledge services. Since 1866, the company has remained committed to its founding principle of
protecting people, property and the environment from technology-related risks. Headquartered in Munich, Germany, TÜV
SÜD is represented in more than 800 locations worldwide. TÜV SÜD operates globally with a team of more than 22,000
multi-disciplinary experts recognised as specialists in their respective fields. By combining impartial expertise with invaluable
insights, the company adds tangible value to businesses, consumers and the environment. The aim of TÜV SÜD is to
support customers with a comprehensive suite of services worldwide to increase efficiency, reduce costs and manage risk.
www.tuv-sud.com
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