Successful Worldwide Tüv Rheinland With Double Digit Growth

High demand for quality and safety / Increased revenue and operating result / More employees / Investments in acquisitions, future laboratories and AI / Significant company growth over ten years under CEO Michael Fübi TÜV Rheinland succeeded in maintaining its growth in 2024. The inspection and testing group with global operations increased its revenue to 2.71 billion euros. This represents an 11.2 percent increase year-over-year (2023: 2.44 billion euros). At 52.4 percent, business outside Germany accounted for more than half of total revenue. Internationally, TÜV Rheinland once again recorded its highest growth in the regions of India, the Middle East and Africa (IMEA) and Greater China.

The size of its workforce also grew significantly. At the end of 2024, 25,900 employees worked for TÜV Rheinland worldwide (previous year: 23,335) – distributed across all continents (equivalent to 23,920 FTE), with 16,400 of these (63.3 percent) outside Germany. New services, new laboratories, numerous acquisitions “In spite of economic and political uncertainties in many regions of the world, TÜV Rheinland’s business has developed very successfully. In 2024, our employees once again helped significantly to make the world a safer place. We expanded our service offering, opened new laboratories and invested in the acquisition of companies,” Dr.-Ing.

Michael Fübi, CEO of TÜV Rheinland AG, remarked presenting the group’s results for 2024. The operating result (EBIT) for the 2024 financial year totaled to 214.8 million euros (previous year: 103.9 million euros), exceeding 200 million euros for the first time. Without taking special effects into account, earnings (adjusted EBIT) amounted to 225.4 million euros. This represents a 23.3 percent increase year-over-year (174.2 million euros). The adjusted EBIT margin for 2024 stood at 8.3 percent (2023: 7.1 percent). “We achieved significant growth across all key indicators of financial performance in 2024.

We thus created a very solid foundation to continue to grow profitably in the future and to be able to invest in our future,” observed Philipp Kortüm, Chief Financial Officer of TÜV Rheinland AG. Equity at TÜV Rheinland was significantly higher, increasing by 122.9 million euros to finish the year at 754.2 million euros. The equity ratio in the reporting year was thus 26.3 percent (2023: 25.1 percent). Cash flow from operating activities totaled to 283 million euros, which was 39.2 percent higher than the previous year (203.3 million euros). )Largest acquisition in the company's historyTÜV Rheinland made considerable investments in acquisitions again in 2024. For example, TÜV Rheinland acquired Safetec, the leading provider of risk-management services in Norway.

Its purchase of... Successful Worldwide: TÜV Rheinland With Double-Digit Growth, Strengthening Market Position TÜV Rheinland global results grow significantly COLOGNE, Germany--(BUSINESS WIRE)--TÜV Rheinland succeeded in maintaining its growth in 2024. The inspection and testing group with global operations increased its revenue to 2.71 billion euros. This represents an 11.2 percent increase year-over-year (2023: 2.44 billion euros).

At 52.4 percent, business outside Germany accounted for more than half of total revenue. Internationally, TÜV Rheinland once again recorded its highest growth in the regions of India, the Middle East and Africa (IMEA) and Greater China. The size of its workforce also grew significantly. At the end of 2024, 25,900 employees worked for TÜV Rheinland worldwide (previous year: 23,335) – distributed across all continents (equivalent to 23,920 FTE), with 16,400 of these (63.3 percent) outside Germany. "In spite of economic and political uncertainties in many regions of the world, TÜV Rheinland’s business has developed very successfully." Dr.-Ing. Michael Fübi, CEO of TÜV Rheinland AG

New services, new laboratories, numerous acquisitions TÜV Rheinland succeeded in maintaining its growth in 2024, with the inspection and testing group’s global operations increasing revenue by 11.2% to €2.71 billion. Business outside Germany accounted for 52.4% of total revenue. Internationally, TÜV Rheinland once again recorded its highest growth in India, the Middle East and Africa (IMEA) and Greater China regions. At the end of 2024, TÜV Rheinland had 25,900 employees worldwide, up from 23,335 in 2023, distributed across all continents, with 16,400 of these (63.3%) outside Germany. “In spite of economic and political uncertainties in many regions of the world, TÜV Rheinland’s business has developed very successfully.

In 2024, our employees once again helped significantly to make the world a safer place. We expanded our service offering, opened new laboratories and invested in the acquisition of companies,” said Dr-Ing Michael Fübi, CEO of TÜV Rheinland AG. TÜV Rheinland’s operating result (EBIT) for the 2024 financial year was €214.8 million, up from €103.9 million in the previous year and exceeding €200 million for the first time. Without taking special effects into account, earnings (adjusted EBIT) amounted to €225.4 million. This represents a 23.3% increase year-over-year. “TÜV Rheinland has acquired a total of 16 companies over the past two years.

This has strengthened our market position. We are going to remain active in consolidating the global inspections business in the future,” added Fübi. TÜV Rheinland succeeded in maintaining its growth in 2024. The inspection and testing group with global operations increased its revenue to 2.71 billion euros. This represents an 11.2 percent increase year-over-year (2023: 2.44 billion euros). At 52.4 percent, business outside Germany accounted for more than half of total revenue.

Internationally, TÜV Rheinland once again recorded its highest growth in the regions of India, the Middle East and Africa (IMEA) and Greater China. The size of its workforce also grew significantly. At the end of 2024, 25,900 employees worked for TÜV Rheinland worldwide (previous year: 23,335) – distributed across all continents (equivalent to 23,920 FTE), with 16,400 of these (63.3 percent) outside Germany. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250414171277/en/ TÜV Rheinland global results grow significantly

New services, new laboratories, numerous acquisitions “In spite of economic and political uncertainties in many regions of the world, TÜV Rheinland’s business has developed very successfully. In 2024, our employees once again helped significantly to make the world a safer place. We expanded our service offering, opened new laboratories and invested in the acquisition of companies,” Dr.-Ing. Michael Fübi, CEO of TÜV Rheinland AG, remarked presenting the group’s results for 2024. The operating result (EBIT) for the 2024 financial year totaled to 214.8 million euros (previous year: 103.9 million euros), exceeding 200 million euros for the first time.

Without taking special effects into account, earnings (adjusted EBIT) amounted to 225.4 million euros. This represents a 23.3 percent increase year-over-year (174.2 million euros). The adjusted EBIT margin for 2024 stood at 8.3 percent (2023: 7.1 percent). Balance sheet 2023: Revenue of more than EUR 2.4 billion / Strategic growth with record acquisitions / 1,200 new employees / Investments at a high level / Focus areas: sustainability and artificial intelligence /... TÜV Rheinland invested substantially in its strategic growth in 2023. The globally active testing group took over ten companies in Germany, the UK, Italy and Spain – more than ever before in its more than 150-year long history.

The newly acquired companies come from the fields of technical consulting, environmental and health protection, functional safety and cybersecurity, occupational medicine and management system certification, among others. “We have strengthened our service portfolio in a targeted manner through these acquisitions,” says Dr. Michael Fübi, Chief Executive Officer of TÜV Rheinland AG, on presentation of the annual accounts for 2023. “In the course of the acquisitions, around 400 experts have joined the company, strengthening TÜV Rheinland's consulting and testing services in various areas with their expertise.” In the first months of 2024, TÜV Rheinland... TÜV Rheinland also grew significantly in its existing business in 2023 and once again invested heavily. Revenue and number of employees to rise significantly in 2023

“TÜV Rheinland's growth trajectory is reflected in its revenue development,” explains Philipp Kortüm, Chief Financial Officer of TÜV Rheinland AG. The testing services provider closed the 2023 financial year with revenues of EUR 2.439 billion (2022: EUR 2.275 billion). This corresponds to an increase of 7.2% compared to the previous year. At constant currency the group achieved double digit revenue growth of 11.1%. Internationally, TÜV Rheinland once again recorded the highest growth in Greater China and India, Middle East and Africa (IMEA). The number of employees converted into full-time equivalents rose by 5.9% to an annual average of 22,092 employees worldwide (previous year: 20,870 employees) – spread across all continents, and 13,407 (60.7%) of which are...

TÜV Rheinland succeeded in maintaining its growth in 2024. The inspection and testing group with global operations increased its revenue to 2.71 billion euros. This represents an 11.2 percent increase year-over-year (2023: 2.44 billion euros). At 52.4 percent, business outside Germany accounted for more than half of total revenue. Internationally, TÜV Rheinland once again recorded its highest growth in the regions of India, the Middle East and Africa (IMEA) and Greater China. The size of its workforce also grew significantly.

At the end of 2024, 25,900 employees worked for TÜV Rheinland worldwide (previous year: 23,335) – distributed across all continents (equivalent to 23,920 FTE), with 16,400 of these (63.3 percent) outside Germany. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250414171277/en/ TÜV Rheinland global results grow significantly New services, new laboratories, numerous acquisitions “In spite of economic and political uncertainties in many regions of the world, TÜV Rheinland’s business has developed very successfully.

In 2024, our employees once again helped significantly to make the world a safer place. We expanded our service offering, opened new laboratories and invested in the acquisition of companies,” Dr.-Ing. Michael Fübi, CEO of TÜV Rheinland AG, remarked presenting the group’s results for 2024. The operating result (EBIT) for the 2024 financial year totaled to 214.8 million euros (previous year: 103.9 million euros), exceeding 200 million euros for the first time. Without taking special effects into account, earnings (adjusted EBIT) amounted to 225.4 million euros. This represents a 23.3 percent increase year-over-year (174.2 million euros).

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