Munich. Against the backdrop of the global financial and economic crisis, TÜV SÜD AG continued its expansion course in 2008. The revenue of the international service corporation increased to almost EUR 1.4 billion, EBT remained roughly at the prior-year level, at EUR 107 million. Globally, TÜV SÜD recruited approximately 1,000 new employees. Through targeted investments, the service group will further strengthen its international and national competitiveness and thus secure jobs in the long-term.
"We operate a stable company" explained Dr.-Ing. Axel Stepken, CEO and President of TÜV SÜD AG, at the company's annual press conference in Munich. "Over recent years, we have succeeded in clearly improving enterprise value." In times of crises in particular, he continued, it pays off that the international corporation has always pursued long-term and sustainable perspectives in its services and corporate strategy and will also continue to do so in the future. In 2008, all strategic business segments and strategic regions of TÜV SÜD contributed to the company's positive economic development. Compared to 2007, return on sales improved from 8.0 to 8.7 per cent, the equity ratio increased to 32.5 per cent and cash flow improved to EUR 179 million. "The entire development shows that TÜV SÜD operates on a sound footing", emphasized Dr.-Ing. Stepken. "We will continue our targeted investments this year, to consolidate our strong position among our competitors in Germany and further expand our international business based on our core products."
Detailed information and photos are available at www.tuev-sued.de/balancesheetpressconference.
Jane Lim, Manager, Public Relations
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