Ladies and Gentlemen,
TÜV SÜD is looking back on a successful fiscal year 2013. Our revenue increased to € 1.94 billion. That corresponds to a rise of 6.5% – or 8.3% after adjustment for currency translation effects.
All the segments of TÜV SÜD contributed to this success. Most of our international regions again grew particularly strongly. Today, we generate almost 40% of our revenue in these regions, and half of our total workforce is employed outside Germany.
We also again slightly increased our earnings: our EBIT rose in the past year to € 160.7 million, and EBT climbed to € 140.3 million.
The developments of the past fiscal year are all the more gratifying when one considers that 2013 was characterized by challenges in many economic regions. Our success shows that the TÜV SÜD Group, with its products, with its clear focus on customer requirements and with its internationalization strategy alongside a strong home market, is ideally positioned. We are an established player in many attractive and strategically important markets and geographical segments, and an important and reliable partner to our customers.
Through targeted investments, we are paving the way for continued success in the future. For example, in 2013 we again expanded our test laboratories worldwide, with measures including new facilities in Germany, China and Indonesia. In addition, we are systematically acquiring companies that are a good strategic fit for us: in the fiscal year 2013, we acquired the Brazilian company Bureau de Projetos e Consultoria and the German firm K+S Haustechnik Planungsgesellschaft mbH, to name just two examples. At the same time, we are adapting our organizational structure, where necessary, and making the company more efficient. Our innovation management, with which we develop services for new technologies and bring them to market maturity, is a targeted investment in the future.
Our goal is to continue creating the basis for sustainable growth. This growth is also evident in the number of people working for TÜV SÜD: at year-end 2013, we had almost 20,000 employees, around 9% more than in the prior year. This means we have more than doubled our headcount in the past ten years. In this connection, it is particularly pleasing that we are perceived as a very attractive employer by university graduates and experienced professionals – at national and international level. For years, this has been shown by our good results in employer rankings in Germany and abroad. This is an important competitive advantage in the hotly contested market for the best employees.
Our customers trust TÜV SÜD. Our strong brand and our octagon stand for technical expertise, safety and impartiality. Companies and consumers worldwide count on our company and the work of our employees. People around the globe place their trust in the quality of our services and the independence of our judgment. We do everything in our power to uphold this trust. When people place their trust in companies or individuals, they do not do so once and for all – trust always has to be earned, again and again. We are well aware of this great responsibility and daily challenge.
As an expert organization, we consider the question of basic and further training for our employees to be of great importance, as our customers expect us to bring the highest levels of expertise to bear on their technological issues. With our worldwide employee academy and numerous measures geared to promoting internal networking and knowledge transfer within the TÜV SÜD Group, we strive to meet these requirements.
“Independence. Legality. Integrity.” These three keywords are an obligation for everyone who works at TÜV SÜD. This is why we already began to establish a corresponding culture of compliance in our company years ago. Our goal is to ensure that all our employees conduct themselves in a correct and law-abiding manner, in every country of the world. Any infringements are punished without delay.
We also wish to earn trust through our financial reporting. Since 2006, we have been reporting in accordance with International Financial Reporting Standards (IFRSs) and far beyond what is required by law. Here, too, we want to be open and transparent.
All these measures are cornerstones of our success. We are convinced that TÜV SÜD is well placed for the present and for the future. We will continue our profitable growth trajectory – with courage, expertise and sound judgment.
The future offers us many opportunities – and we will leverage these for the good of everyone. Since 1866, the aim of our work has been to reconcile technological progress with society’s need for safety and quality. Thank you for placing your trust in us.
Munich, April 11, 2013
The Board of Management of TÜV SÜD AG