Breaking News Today

Tüv Rheinland Reports Strong Growth In 2023 Due To Company Acquisition

Emily Johnson
-
tüv rheinland reports strong growth in 2023 due to company acquisition

COLOGNE, Germany, April 23, 2024 /PRNewswire/ -- TÜV Rheinland, a leading certification, testing and inspection company, presented its annual report in which it highlighted substantial investment 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... High-level investmentsTÜV Rheinland has maintained its investment volume at a high level. The Group invested a total of EUR 87.9 million in the 2023 financial year (previous year: EUR 90.8 million), particularly in testing services relating to future topics such as digitalization, artificial intelligence, renewable energies... In the North American market, TÜV Rheinland invested around EUR 6 million, including in a testing and certification site for high-tech products in the Boston area and a chemical laboratory in Arkansas. 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... 📢 Our #CorporateReport 2023 is out now! We are proud to present our Corporate Report. Entitled “Today for Tomorrow,” it shows how we are actively helping shape a sustainable and secure future. From exciting innovations to responsible business practices, we help our clients create transparency about how they are meeting their goals and working to pursue them even more consistently. We also support them in launching products or services with a sustainable impact on the market.

Discover how we are setting the course for tomorrow today and working together to create a future worth living in. #tuvrheinlandresults #todayfortomorrowTR #tuvrheinland #reporting #sustainability Want to become part of TÜV Rheinland Group and help shaping a sustainable and secure future? These are our current job openings: https://www.linkedin.com/company/tuv-rheinland-group/jobs/ I am proud to report that 2023 was a very successful year for TÜV Rheinland Group with significant revenue growth and acquisitions. 🚀

Many Many Congratulations You and Your TUVR Team Family. TÜV Rheinland Group Setting a benchmark in its business footprint, TÜV Rheinland AG has set impressive figures. The testing services provider wrapped up 2023 with a significant growth in revenue and workforce. It also displayed a strong commitment to innovation and sustainability. As 2024 unfolds, the company continues its upward trajectory.

In its annual report, TÜV Rheinland unveiled a revenue sweep of EUR 2.439 billion for 2023; a 7.2% increase compared to 2022. At the same rate, the full-time employee count rose by 5.9%. Strategic acquisitions added 400 new experts to the firm, significantly strengthening its consulting and testing services. Moreover, the group recorded a double-digit revenue growth of 11.1% and spearheaded this growth in Greater China, India, Middle East, and Africa. Not just in figures, TÜV Rheinland also displayed their commitment towards environmental, social and governance aspects. They touched the revenue mark of EUR 580 million with ESG services, which corresponds to a quarter of total revenue.

Incidentally, TÜV Rheinland also bagged the platinum level award from EcoVadis, a global sustainability ranking provider. Moving with dynamic developments, the company also integrated artificial intelligence into its services and played a pivotal role in testing safety-critical AI applications. The company kicked off 2024 with a bang, recording a revenue growth of around 9 percent in the first quarter. Echoing this success, CEO Michael Fübi expressed confidence in the company’s solid positioning and its goal of significant growth. TÜV Rheinland has already set its eyes on assisting clients in reaching their ESG goals and launching sustainable products and services. It is clear that TÜV Rheinland is ready for the future.

From surging revenue figures to expanding its workforce, TÜV Rheinland has shown a stellar performance in 2023. More than just figures, it is their commitment to sustainability and innovation that make them a leader. With an impressive start to 2024, TÜV Rheinland shows no sign of slowing down. 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 Here's the year on year acquisition history of TÜV Rheinland Group: TÜV Rheinland Group's most recent acquisition - Schwerdt Gruppe is a Provider of occupational safety, occupational health, relocation, and assembly services and located in Freudenstadt. TÜV Rheinland Group acquired a 100% stake in it in February 2026.

Here is the list of all acquisitions by TÜV Rheinland Group sorted by the latest acquisition date: Media has covered TÜV Rheinland Group for a total of 38 events in the last 1 year, 6 of them have been about acquisition activity. Hinweis: Weitere Pressefotos sowie die Presseinformation als Word-Datei finden Sie unter www.tuv.com/presse. TÜV Rheinland hat 2023 erheblich in sein strategisches Wachstum investiert. Der global tätige Prüfkonzern übernahm zehn Unternehmen in Deutschland, Großbritannien, Italien und Spanien - so viele wie noch nie zuvor in seiner mehr als 150-jährigen Unternehmensgeschichte. Die neu erworbenen Firmen kommen unter anderem aus den Bereichen Technische Beratung, Umwelt- und Gesundheitsschutz, funktionale Sicherheit und Cybersecurity, Arbeitsmedizin sowie Zertifizierung von Managementsystemen.

"Durch die Zukäufe haben wir unser Dienstleistungsportfolio gezielt gestärkt", so Dr.-Ing. Michael Fübi, Vorstandsvorsitzender TÜV Rheinland AG, bei Vorlage der Bilanz für 2023. "Im Zuge der Übernahmen sind rund 400 Expertinnen und Experten neu ins Unternehmen gekommen und stärken mit ihren Kompetenzen die Beratungs- und Prüfdienstleistungen von TÜV Rheinland in unterschiedlichen Bereichen." In den ersten Monaten des... Zudem ist TÜV Rheinland 2023 auch in seinem bestehenden Geschäft deutlich gewachsen und hat erneut hohe Investitionen getätigt. Umsatz und Zahl der Mitarbeitenden steigen 2023 deutlich "Der Wachstumskurs von TÜV Rheinland spiegelt sich auch im Umsatz wider", erklärt Philipp Kortüm, Vorstand Finanzen der TÜV Rheinland AG.

Der Prüfdienstleister schloss das Geschäftsjahr 2023 mit einem Umsatz von 2,439 Milliarden Euro ab (2022: 2,275 Milliarden Euro). Das entspricht einem Anstieg von 7,2 Prozent gegenüber dem Vorjahr. Zu konstanten Wechselkursen war das Umsatzwachstum mit 11,1 Prozent deutlich zweistellig. International verzeichnete TÜV Rheinland das höchste Wachstum erneut in den Regionen Greater China sowie Indien, Naher Osten und Afrika (IMEA). Die Zahl der Mitarbeitenden umgerechnet auf Vollzeitstellen stieg um 5,9 Prozent auf nun weltweit 22.092 im Jahresdurchschnitt (Vorjahr: 20.870) - verteilt auf alle Kontinente, davon 13.407 (60,7 Prozent) außerhalb Deutschlands. COLOGNE, Germany, April 23, 2024 /PRNewswire/ -- TÜV Rheinland, a leading certification, testing and inspection company, presented its annual report in which it highlighted substantial investment 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.

People Also Search

COLOGNE, Germany, April 23, 2024 /PRNewswire/ -- TÜV Rheinland, A

COLOGNE, Germany, April 23, 2024 /PRNewswire/ -- TÜV Rheinland, a leading certification, testing and inspection company, presented its annual report in which it highlighted substantial investment 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 ac...

TÜV Rheinland Also Grew Significantly In Its Existing Business In

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...

The Number Of Employees Converted Into Full-time Equivalents Rose By

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... High-level investmentsTÜV Rheinland has maintained its investment volume at a high level. The Group invested a total of EUR 87.9 million in the 2023 financial year (previous ...

The Globally Active Testing Group Took Over Ten Companies In

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 strengthene...

Revenue And Number Of Employees To Rise Significantly In 2023

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 yea...