Companies
8.5 per cent growth – TÜV NORD ready for the tasks ahead
Hanover: TÜV NORD Group is continuing to grow. In the business year 2010 the inspection and technology service provider achieved turnover of 922.6 million Euro (previous year: 850.4 million Euro), which represents an increase of 8.5 per cent. Group earnings before taxes amounted to 49.1 million € (previous year: 27.7 million €), and the global workforce numbered 14,607, with permanent staff increasing by 11.4 per cent to 9,027. Such were the figures at today's press conference featuring the financial results from the last business year. As Guido Rettig, Management Board Chairman, said: "TÜV NORD Group has emerged stronger from the global financial crisis. Our corporate strategy has provided us with a clear direction, which means that the Group is enjoying organic growth, augmented by targeted acquisitions. In 2010 we achieved the best results in the history of the organisation."
The growth strategy initiated in 2006 has proven to be a success. Worldwide sales have increased by over 50 per cent - and profits have kept pace. The number of those in permanent employment all over the world has also increased considerably - by more than 35 per cent. Despite the financial crisis it has been possible to engage 500 new members of staff each year for the past three years. Rettig: "Of course we want to continue building our prominent market position in the fields of inspection, development, certification and education and training. More and more clients are taking advantage of our advisory services. And TÜV NORD Group is very well placed when it comes to the so-called sunrise industries - electromobility, renewable energies and availability of natural resources."
Renewable energies
TÜV NORD is expecting new and exciting tasks and market opportunities in the implementation of the Federal Government's official Energy Concept. "We are consistently increasing our market share in the field of wind energy, for example, and feel that this sector is really moving forward. With our competence in all aspects of energy production, transmission and storage, and also in the efficient use of energy, we can see great opportunities for the future."
TÜV NORD was able to increase sales in the wind energy sector by 20 per cent last year. In the inspection of biogas plants, the company is already market leader. Turnover in the whole Industry Services Division now amounts to 328.1 million Euro (previous year: 310.7 million Euro). This equates to an increase of 5.6 per cent.
Acquisition in the Natural Resources Division
In the natural resources division, DMT achieved turnover of 91.7 million Euro, following 103.8 million in the previous year. The decrease is attributable to fewer invoices for projects in progress becoming payable in the year under consideration. DMT has expanded its work in the area of natural resource exploration and has acquired the internationally active and renowned company Petrologic Geophysical Services, based in Hanover. This means that specialist seismic data processing has been permanently added to the DMT service portfolio. With this, DMT is driving and accelerating its strategic international development in the gas storage, geothermal and CCS markets. Petrologic has been an established player in the international oil and gas sector for 13 years.
Full speed ahead for the Mobility division – Focus on electromobility
The Mobility division also achieved a slight increase in turnover in the last business year, coming in at 287.6 million Euro. Within the development of electromobility, TÜV NORD stands for safety and reliability and has its own electric vehicles in use on an everyday basis. Above all it is involved in development in the areas of vehicle operating range and battery safety, playing an active role in various "model region" projects of the Federal Government. TÜV NORD supports vehicle manufacturers and the automotive supply industry in bringing electric vehicles which fulfil the highest safety standards onto the market fast, but above all safely. Guido Rettig: "We consider the training of specialists in the area of electric vehicles to be a further focus for our work. Engineers and technicians in the mechatronics field will have to concern themselves with the theme of high-voltage technology - and our training companies are already able to offer corresponding courses to the industry."
Sales of international subsidiaries again increased
For the first time, the volume of sales generated by international subsidiaries is more than 20 per cent: in the business year 2010 the international share amounted to 21.4 per cent, against 19.8 per cent in the previous year. New companies were established in Egypt and Argentina, and in 2010 TÜV NORD Group acquired the remaining shares in the Swedish inspection company TÜV NORD Sweden AB (previously ÅF-TÜV Nord AB). The company undertakes independent inspection of nuclear installations.
Training sector influenced by cuts in employment funding
The Training and Human Resources Division again achieved the greatest leap in sales: after 45.9 million Euro in the previous year, they amounted to 94.2 million Euro in 2010. The reason for this is the acquisition of the TÜV NORD Bildung training group (previously RAG Bildung) which took effect on 1 July 2010. This has made TÜV NORD Group into one of the largest training providers in Germany. However, cuts in employment funding at the federal level meant that sales and earnings in the education and training field were lower than expected.
TÜV NORD Group continues to grow
"We will probably achieve sales of one billion Euro in the current business year, which is an important milestone in our programme for growth", says Guido Rettig, summing up. "TÜV NORD Group is also able to profit from the positive nature of the global situation seen as a whole."
About the TÜV NORD Group
TÜV NORD Group is one of the largest technical service providers in Germany. The Group owes its leading market position to its technical competence and a broad range of advisory, service, and testing services in the Mobility, Industrial Services, International, Natural Resources and Training and Human Resources fields and operates in over 70 countries in Europe, Asia, Africa and the Americas. TÜV NORD Group is firmly committed to its guiding principle and watchword: "Making our world safer".
www.tuv-nord.com
Contact for this press release:
TÜV NORD Group
Sven Ulbrich Telephone +49 (0)511 986-1540, Fax -28998435
mediatuv-nord.com
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