TÜV SÜD achieves fifth consecutive record result
2007 consolidated financial statement: sales revenues of almost EUR 1.3 billion – pre-tax result of EUR 116 million
TÜV SÜD achieves fifth consecutive record result
Consolidated results prepared in accordance with International Financial Reporting Standards (IFRS) for the first time
Munich. The Munich-based service group TÜV SÜD is in top form, closing fiscal 2007 with the best result in its history and the fifth consecutive record result. Consolidated sales climbed from EUR 1.16 billion to 1.27 billion, equivalent to over nine per cent growth, while the pre-tax result soared by 44 per cent from EUR 81 million to EUR 116 million. TÜV SÜD prepared its consolidated financial statements for 2007 in accordance with International Financial Reporting Standards (IFRS) for the first time.
“All strategic business segments of TÜV SÜD Group contributed to the positive development“, noted Chairman of the Board of Management Dr.-Ing. Axel Stepken at the Balance Sheet Press Conference in Munich on Friday. “The market appreciates our profile as a committed and responsible process partner delivering enhanced certainty and thus adding economic value for its clients throughout the world.“ This applies both to inspections of, say, vehicles, high-speed railway lines, industrial installations and real estate and to product and system certification. In the year of reporting TÜV SÜD generated almost 30 per cent of its consolidated sales outside its domestic German market. The Group’s business success in 2007 was reflected in the number of its employees, which rose from 11,946 to 12,976. According to Stepken, in the past year TÜV SÜD created 1,000 new jobs, almost 200 of which were in Germany.
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Contact: Kristina Wegner