TÜV SÜD increases sales revenue and international growth

TÜV SÜD increases sales revenue and international growth

Internationalization continued – moving into the markets of the future

In 2009, international service corporation TÜV SÜD AG increased its sales revenue to EUR 1.4 billion (from EUR 1.36 billion in 2008). The number of staff increased by 700 to reach 14,860. "In a year characterized by extraordinary economic turbulence, our company stands for stability, certainty and growth", explained CEO and President Dr Axel Stepken at the annual financial results conference in Munich.

Following the successful launch of TÜVTURK, the corporation is focusing on the further international-ization of its business, moving into profitable growth fields and positioning itself as an add-value partner around the globe. Exporting established core products into new markets and establishing global net-works of expertise in innovative and profitable fields of growth are key elements of TÜV SÜD's international growth strategy.

One example described by Stepken is the Asia-Pacific region, where TÜV SÜD succeeded in improving its sales revenue by roughly three per cent from EUR 137 million to EUR 141 million against the back-drop of an almost 30-per-cent decline in the overall economy. Approximately 48 per cent, or EUR 666 million, of consolidated sales revenue were generated by the strategic business segment INDUSTRY, roughly 35 per cent or EUR 491 million by MOBILITY and almost 17 per cent or EUR 233 million by PEOPLE. "This means all three strategic business segments have contributed to the positive development of TÜV SÜD", emphasized Stepken. TÜV SÜD generated roughly 30 per cent of its consolidated sales revenue abroad. According to its CEO and President, the fact that TÜV SÜD has also continued to grow in the actually saturated German market is particularly encouraging. Here, sales revenue increased by 2.4 per cent to EUR 1.047 billion.

In spite of critical economic framework conditions, TÜV SÜD plans to grow even faster next year. According to TÜV SÜD President Stepken, the group strives for stable organic growth and plans in particular to accelerate inorganic growth significantly by making further acquisitions.

Detailed information are available at www.tuev-sued/annual financial results conference