TODAY FOR TOMORROW

Corporate Report 2023

Dr.-Ing. Michael Fübi

“Only technical progress can overcome the challenges of the future.”

Dr.-Ing. Michael Fübi
Chief Executive Officer of TÜV Rheinland AG

Dear Readers,

Ensuring an adequate supply of clean water, producing affordable and climate-friendly electricity, protecting the world’s climate – only technical progress can overcome the challenges of the future. Specialists at the United Nations surmise that the use of digital technologies can be a decisive factor in supporting more than two-thirds of the UN Sustainable Development Goals. We at TÜV Rheinland may not play a prominent role in that context, but our role is important nevertheless. Because our mission is to guide technical innovation and make it safe.

TÜV Rheinland has fulfilled that mission once again in the 2023 reporting year, as borne out by our strategic growth with ten corporate takeovers in Europe and our sales revenue growth. For this I would like to express my gratitude to our employees – and to our customers, who continue to place great trust in TÜV Rheinland’s technical expertise. In the future, we want to work together with them to make technological innovations viable and thereby blaze the trail to a more sustainable economy.

As a testing and inspection company, our independent tests, inspections, certifications, audits, and training courses offer our customers high added value where sustainability is concerned. We help them establish transparency regarding achievement of their goals and help them pursue those goals even more coherently. And we assist them in placing effectively sustainable products and services on the market.

At the same time, a full range of ESG-related services has become an important mainstay of our business – and has potential for further growth. Moreover, we are working to make our own activities even more sustainable – and we’re on the right track. With our achievement of EcoVadis Platinum status, we have even exceeded an essential goal. And we also celebrated successes in the areas of occupational safety and health, diversity, and non-discrimination.

“Today for tomorrow”: Under this motto of the TÜV Rheinland sustainability initiative, we will also continue to develop in the future. We will continuously monitor our goals and our achievement thereof with a view to becoming better. To that end, we are documenting our greenhouse gas emissions in more and more areas. Because our goal is, and remains, to continuously reduce our emissions and to compensate remaining emissions as of 2025 and 2028, respectively.

Learn more about our objectives and programs, our successes, and challenges, in the present Corporate Report.

Yours,

Dr.-Ing. Michael Fübi
Chief Executive Officer of TÜV Rheinland AG

TÜV Rheinland.
Precisely. Right.

As an independent testing and inspection services company, for more than 150 years TÜV Rheinland has stood for quality and safety in the fields of inspection, testing, innovation, certification and training in almost every area of the economy and life. Our service promise: What we do, we do precisely and we do it right.

TÜV Rheinland
in figures

Based in over 500 locations, the company’s experts test and inspect technical plants, equipment and products, support innovations in engineering and business, train people, and certify management systems according to international standards.

The operating result (EBIT) in the 2023 financial year was lower year over year and stood at 103.9 million euros (2022: 180.3 million euros). Without taking special effects into account, earnings (adjusted EBIT) for 2023 were 174.2 million euros (previous year: 190.8 million euros). This is particularly a result of adjusting the provisions already constituted in 2020 in connection with the fraud by Poly Implant Prothèse (PIP), a French manufacturer of breast implants. Rulings in May 2023 by the French Court of Cassation led to financial risks in ongoing proceedings before French courts – even though courts in Germany and other countries have decided in favor of TÜV Rheinland in more than 240 rulings. In fulfillment of its financial responsibilities, TÜV Rheinland takes these risks into account by adjusting the amounts of its provisions.

0
billion €
Revenue
0
million €
EBIT
i
0
million €
Adjusted EBIT
0
is the number of employees (full-time equivalent, FTE)
-
0
% CO2eq
less GREENHOUSE GAS EMISSIONS in Scopes 1, 2, 3.3 and 3.6 as compared with reference year 2018
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0
%
is the percentage drop in the LOST TIME INJURY RATE (LTI) as compared with reference year 2019

The operating result (EBIT) in the 2023 financial year was lower year over year and stood at 103.9 million euros (2022: 180.3 million euros). Without taking special effects into account, earnings (adjusted EBIT) for 2023 were 174.2 million euros (previous year: 190.8 million euros). This is particularly a result of adjusting the provisions already constituted in 2020 in connection with the fraud by Poly Implant Prothèse (PIP), a French manufacturer of breast implants. Rulings in May 2023 by the French Court of Cassation led to financial risks in ongoing proceedings before French courts – even though courts in Germany and other countries have decided in favor of TÜV Rheinland in more than 240 rulings. In fulfillment of its financial responsibilities, TÜV Rheinland takes these risks into account by adjusting the amounts of its provisions.

Platinum medal in EcoVadis rating – the top 1 percent

With 79 on a scale of 100 points, last year TÜV Rheinland achieved Platinum status for the first time from the world’s leading provider of sustainability ratings, EcoVadis. That ranks TÜV Rheinland in the top-1 percent of the companies evaluated. EcoVadis assesses the sustainability performance of companies in four domains: environment, labor rights and human rights, ethics, and procurement. The rating is one of the most meaningful audits of corporate sustainability performance worldwide.

Our business areas

Through December 31, 2023, TÜV Rheinland’s structure comprised the five Business Streams listed below. Effective January 1, 2024, the Business Streams Systems and Academy & Life Care were merged to form the new Business Stream, Assurance. As of that date, operations are now carried out by four Business Streams.
Industrial Services & Cybersecurity
0
%
Revenue
Industrial Services & Cybersecurity
Pressure Equipment
Elevators & Lifting Equipment
Electrical Engineering & Building Technology
Industrial Inspection & Materials Testing
Infrastructure & Project Supervision
Energy & Environment
Cybersecurity & Functional Safety
Mobility
0
%
Revenue
Mobility
Periodical Technical Inspections
Driver’s License
Car Services & Appraisal
Engineering & Type Approval
Rail
Products
0
%
Revenue
Products
Softlines
Hardlines
Electrical
Solar & Commercial
Medical
Academy & Life Care
0
%
Revenue
Academy & Life Care
Occupational Health & Safety
Training & HR Development
Labor Market Services
Digital Transformation
Systems
0
%
Revenue
Systems
Certification of Management Systems
Customized Services
Government Inspections & International Trade

TÜV Rheinland worldwide

Germany

Revenue

1,223.0 Mio.

Greater China

Revenue

485.40 Mio.

Asia-Pacific

Revenue

137.10 Mio.

India/Middle East/Africa

Revenue

156.00 Mio.

Europe

Revenue

306.50 Mio.

South America

Revenue

61.50 Mio.

North America

Revenue

70.00 Mio.

Today for tomorrow.
TÜV Rheinland

TÜV Rheinland stands for greater technical safety and quality in the interaction between people, technology and the environment. This is based on the underlying conviction that societal and technological progress are inextricably linked and must be orchestrated sustainably.

Sustainably engaged for our customers

TÜV Rheinland’s modern concept of progress in technology and business is expressed by the active support for and inspection and testing of innovations, services, products, plants and equipment to enable their safe and responsible use. That makes customers more successful and builds trust in products and processes along global value chains. Four examples:

Making the invisible measurable

Jia Liu and her team show companies where the path to better climate protection begins. Take one of the world’s leading hotel chains, Radisson Hotel Group, for example: it wants to make its greenhouse gas emissions performance transparent.

ZDHC – a key factor in the effort to combine discount fashion and sustainability

Fashion should be more than just attractive: it should also be ecologically and responsibly produced – and ideally it should be inexpensive too. With that in mind, Takko Fashion has turned to TÜV Rheinland for assistance.

Wind power where the sky’s the limit

In India, the demand for energy is growing – and along with it, so is the challenge of producing enough green energy. The experts from TÜV Rheinland are there to help.

E-mobility transformation trailblazer

Since the end of 2020, TÜV Rheinland Automotive Component Testing GmbH has invested more than 25 million euros in the test center for electrical vehicle drive batteries. Just over two years ago, the testing center at the Dutch-German Avantis innovation park tested the first batteries – and did so in accordance with nearly all common standards.

Courteous service, stable Wi-Fi connections, a good night’s rest – every hotel guest can plainly see when those promises are kept. It’s a completely different story when it comes to promised services that are neither visible to the eye nor produce any immediately noticeable effect. How can guests actually trust a hotel to uphold the key sustainability claims that its website promises in such flowery prose – regarding water consumption, waste disposal or greenhouse gas emissions, for example? After all, hotel guests usually cannot verify anything on their own.

The experts from TÜV Rheinland have an answer to this problem – and in an area where the difficulty of data collection is only outweighed by its importance: the emission of the greenhouse gases that are causing climate change. Jia Liu, who works with her team at TÜV Rheinland to monitor customers’ greenhouse gas emissions, explains what’s behind this service: “With our expertise, we verify whether the greenhouse gas emissions data that a company documents are really correct, complete and reliable.”

The “Greenhouse Gas Verification Service” has some 80 auditors worldwide whose tasks typically include evaluating the probability of errors, omissions and misrepresentations in company data. They also determine whether any deviations remain within acceptable thresholds. If so, TÜV Rheinland can certify the claims – and officially report to the customer that the information about their own greenhouse gas emissions is accurate.

Knowing where you are before you set out

“It’s no secret: you can only control what you can measure. That’s why it’s important for a company to determine its emissions as accurately as possible in all three categories: the gases it emits itself – known as “Scope 1” in industry jargon – the gases it emits indirectly through energy providers – Scope 2 – and also the gases emitted by its suppliers and customers – Scope 3. This is the only way to develop effective and efficient means of lowering greenhouse gas emissions,” says Liu. She wants to show her customers where the path to reduced greenhouse gas emissions begins. According to Liu: “Otherwise they’ll be searching for a destination without knowing the starting point – and that makes it hard to navigate.”

Promoting transparency, preventing greenwashing

Take one of the world’s leading hotel chains, Radisson Hotel Group, for example: it wants to make its greenhouse gas emissions performance transparent. Like TÜV Rheinland, it’s a member of the “Sustainable Hospitality Alliance”.This network of hospitality companies has set itself the goal of redirecting its industry toward sustainability. “We at Radisson have set ambitious goals for ourselves: for example, we want to reduce our CO2 footprint by nearly 50 percent by 2030,” explains Sven Wiltink, in charge of sustainability at Radisson Hotel Group worldwide.

But 50 percent of what? What must be measured and how? Down to what level of detail? The energy consumption of a hotel building itself is relatively easy to determine. But what about something like the laundry service that collects and washes all the bed linen every day: how much electricity does that consume? And how should the associated CO2 emissions be calculated? As usual in the world of testing, inspection and certification, none of this is possible without standards: they provide the applicable basis worldwide, creating a kind of common language, so nobody confuses apples with oranges when they’re talking about greenhouse gases. Specific examples of such standards include the “Greenhouse Gas Protocol” – also abbreviated as “GHG” – and “ISO 14064.” Those are the two most widely accepted standards for measuring and reporting greenhouse gas emissions.

The specialists from TÜV Rheinland, too, work according to GHG and ISO 14064 to provide reliable verification services to customers like Radisson Hotel Group, and thereby help them build trust. And of that result, Sven Wiltink also has no doubt whatsoever: “The partnership between TÜV Rheinland and Radisson Hotel Group demands transparency, especially where our information relative to the measurement of CO2 footprint is concerned. Because most travelers and guests prefer a hotel that keeps its promises regarding sustainability, and also one that doesn’t make misleading claims or engage in greenwashing.”

Greenhouse gas emission services

As an independent third party, TÜV Rheinland offers the security that comes with verified data relative to things like greenhouse gas emissions and associated reports and information. The verification of corporate CO2 footprint (CCF verification) is an audit process that ensures that the reported greenhouse gas data are correct, complete and reliable. This requires the use of appropriate actions, to minimize any gaps or uncertainties in the data. During verification, the probability of data errors, omissions and misrepresentations is evaluated and computed, to ensure that it remains below an acceptable threshold. Worldwide, TÜV Rheinland has teams for these services in the regions of Asia-Pacific, China, India and the Middle East (IMEA) as well as Europe.

Further information about the services mentioned is also available under www.tuv.com/germany/de/co2-nachhaltigkeitsaudit.

More demand for sustainable accommodations

There is a growing sustainability awareness when selecting vacation lodgings. Sustainable travel accommodation is steadily gaining allure. In 2022, 78 percent of international travelers indicated that they wanted to spend the night in sustainable lodging at least once during the coming year. More than 40 percent of Germans say that when deciding on their vacation lodgings, the sustainability aspect is important or very important.

Anyone who visits the corporate headquarters of Takko Fashion in Telgte near Münster, Germany, is immediately struck by the complexity of the low-cost fashion business. Colorful flags covering a map of the world mark the countries and locations where the company’s wares are produced and sold. “We believe that discount and sustainability don’t have to be mutually exclusive: everyone should be able to afford sustainable and socially responsible products,” says Dirk Stolz, Head of ESG at Takko Fashion.

To guarantee the quality and durability of clothing, chemicals are required in the production processes. In that regard, Takko Fashion’s stated aim is to carefully select chemicals that meet the requirements of environmental protection and occupational health and safety. With that in mind, the company decided to become a full member of ZDHC (Zero Discharge of Hazardous Chemicals) to lend force to its commitment on an international scale as well.

The ZDHC initiative and its “Roadmap to Zero” federates more than 320 companies worldwide from the textile, fashion and chemical industries along with testing and inspection services providers, including TÜV Rheinland. Companies committed to compliance with ZDHC criteria can use audits, supply chain seminars, inspections and laboratory analyses to obtain objective, measurable and comparable results and to communicate them transparently. The testing of the chemicals used is based on one of the strictest pollution catalogs in the world today. ZDHC requirements go well beyond statutory regulations such as those of the European Union.

Transformation roadmap

One of ZDHC’s key objectives is to change the conventional mindset in the industry. In the past, for example, the approach was often very closely focused on testing the end product. Today that emphasis has already shifted towards managing the raw materials. Understanding potentially negative environmental impacts in the supply chain is impossible, however, without transparent, standardized and reproducible business and production processes.

As one of the first testing and inspection companies to offer audits according to ZDHC MRSL standards, TÜV Rheinland now assists Takko Fashion and other companies in the fashion and chemical industry in the areas of “Input,” “Process” and “Output.” “In the textile and footwear industry, we are actively engaged in ZDHC and are one of the few testing and inspection providers fully approved for different services, including MRSL Levels 1-3, ZDHC training provider, and wastewater and sludge analysis laboratory. Lastly, TÜV Rheinland is accredited by the Sustainable Apparel Coalition (SAC) as auditors and trainers for the Facility Environmental Module (FEM),” explains Steffen Tümptner, chemist and ZDHC expert with TÜV Rheinland. In January 2024, he and his team audited a chemical firm in Finland for ZDHC MRSL Level 3. MRSL stands for Manufacturing Restricted Substances List.

Input: Clear guidelines with MRSL (Manufacturing Restricted Substances List)

The “Input” area deals primarily with the materials and chemicals used in the manufacturing process. “When the materials used are safe, then the end product is too,” explains Steffen Tümptner. Here TÜV Rheinland tests the chemical inventory against the MRSL. This catalog lists substances that may not be used during the production process and specifies clear limit values. It currently comprises 27 substance groups with more than 300 individual substances.

Output: Clear emission limits – in product and factory

In the “Output” area, TÜV Rheinland investigates all relevant emissions generated during the manufacturing process along with those that remain behind in the product itself. Among other things, this includes analyses of the wastewater and sludge, the waste generated and the waste gas emissions. TÜV Rheinland supports the entire global supply chain, particularly considering the fact that most manufacturers always make products for several brands or dealers, not just one. Here, too, there is a pollutant list with prohibited substances and specified limit values. “The ZDHC has designed the MRSL in the Input area so that certain limit values cannot be exceeded in the Output area,” explains Tümptner. “So when you do clean work in the beginning, you also benefit from it later on in all downstream process steps.”

Process: Clear production processes in the company

To ensure that they conform with ZDHC MRSL and customer-specific requirements, companies must have standardized and reproducible production conditions. TÜV Rheinland assists companies and manufacturers here too, with quality management audits, for example.

Objective: Long-term implementation of sustainability aspects and safe working conditions

“We’ve been working with TÜV Rheinland very successfully for many years already,” Dirk Stolz. “Together with TÜV Rheinland, we organize training courses for the production operations to help them handle chemicals correctly. Thanks to TÜV Rheinland’s audits, we know exactly how our suppliers handle chemicals.

Because this is a continuous process, Takko works with TÜV Rheinland to define further projects, such as the implementation of a digital product passport. “We also want to guarantee that we will continue to use safe chemicals in the future, and in so doing prevent wastewater from polluting countries where our products are produced. Our goal is to also to provide the best possible protection for the people who work with chemicals,” says Dirk Stolz.

Further product audits in the area of ESG (Environmental Social Governance)

The desire for products manufactured by eco-friendly and socially responsible means is constantly growing – on both the supply side and demand side. Along with ZDHC, TÜV Rheinland also offers many other product audits that contribute to transparent and measurable sustainability. These include:

  1. Sustainable furniture production: With FEMB level®, the European Office Furniture Federation (FEMB) has now created a certification that covers nearly all sustainability criteria for European public procurement. More information >>
  2. Green Product Mark: More information >>
  3. Biodegradability testing: More information >>

The challenges are as vast as the country itself: India, the seventh-largest country by area and also the most populous country on Earth, has started down the route of replacing fossil fuels – and to that end, at the World Climate Conference in Glasgow 2022 (COP26) already announced the world’s most comprehensive expansion plan for renewable energies. By 2030 alone, the country wants to have built up a capacity of 500 gigawatts from regenerative energy sources for its 1.4 billion people. Plans call not only for hydroelectric power and nuclear energy, but also plenty of photovoltaic and wind power plants. So the clock is ticking down to 2030. But the expansion is well underway. Today, India already produces nearly half its energy (42 percent) from non-fossil fuel sources; the industry is booming.

A small part of this boom can be seen on a windy plain in the southernmost part of the state of Tamil Nadu: operated by the energy company Sembcorp via its subsidiary Green Infra Renewable Energy Limited (GIREL), 16 wind turbine rotors are turning outside the small town of Ottapidaram. Regular visitors to the wind farm include test engineers from TÜV Rheinland such as Senthur Pandian, Arivirco Baskaran, Saravanan Balakrishnan and Ramkumar Murugan. Their job is to ensure that the rotors turn reliably and the huge turbines continue to supply emission-free energy to the people of India for a long time to come.

Support throughout the wind turbine lifecycle

With its team of wind energy specialists, TÜV Rheinland supports a range of wind energy projects between the Himalayas and the Indian Ocean, including Sembcorp’s wind farm at Ottapidaram. The Singapore-based group operates one of India’s largest wind power portfolios with over 2 gigawatts of generating capacity. “From inspections at the turbine manufacturers’ production facilities and transportation to the installation site, and from the loading and unloading of the components to the final commissioning – throughout their projects, our customers in the wind energy industry seek the support of experienced service providers like us,” reports Rupesh Kumar Singh, who is responsible for the wind energy business of TÜV Rheinland in India.

For companies like Sembcorp, these inspection services provide added security and reduce risk at critical points in the project. The experts from TÜV Rheinland determine whether any components have already suffered damage before the wind turbine is assembled, for example, and whether it has been properly erected. “Investors obtain the assurance that their wind farms are supplying reliable energy and can cover part of the constantly growing demand,” says Rupesh Kumar Singh. The expertise of the specialists from TÜV Rheinland can also be required after a wind turbine goes into service – if an incident occurs, for example, or for a periodic audit. In such cases, the specialists adhere to international standards – such as those of the International Electrotechnical Commission (IEC). A qualification that is subject to increasing demand, because there is no end in sight to the expansion boom. According to the latest projections of the United Nations, the population of India will increase by about another 200 million by 2050.

India’s wind power growth market

India is one of the focal points of TÜV Rheinland’s worldwide wind energy business. A strategic partnership with the National Institute of Wind Energy (NIWE) started already in 2015. Today some 70 of TÜV Rheinland’s more than 130 wind experts work in India; other regional focal areas include Germany, China, Argentina, Poland and Great Britain.

TÜV Rheinland as a partner for renewable energy supply

How to cover the constantly growing worldwide demand for energy – while ensuring that the energy supply remains reliable, environmentally sound and affordable at the same time? TÜV Rheinland is helping companies meet this challenge. As a partner to its customers, TÜV Rheinland supports the implementation of energy projects that align with market developments, statutory regulations and requirements – from renewable energies to green hydrogen.

At this 2,200-square-meter independent testing center, 25 employees test drive batteries for EVs from practically all manufacturers. Border crossings are either an integral part of the battery testing procedure or quite simply a geographical necessity: the German-Dutch border runs right through the testing laboratory.

Located in Aachen, Germany, the test center is one of the world’s most advanced independent testing centers for electric vehicle drive batteries. The specialists at TÜV Rheinland Automotive Component Testing GmbH (ACT) mainly test batteries for electrified passenger cars, but also batteries for commercial vehicles, i.e. trucks and agricultural machinery. The test facility is designed for large batteries, so even systems weighing more than 1,200 kilograms can be tested here.

Testing beyond the load limits

With their comprehensive test portfolio, the experts verify, among other things, where the drive battery’s capacity limit lies. The battery is tested according to customer specifications or in the context of type testing – using test protocols ranging from performance tests that charge and discharge the batteries, to climate and environmental testing, to mechanical tests and safety tests. Another special feature are the abuse tests that test a battery’s behavior beyond its electrical, thermal or mechanical limits.

The goal is to have batteries undergo the best possible testing for quality, safety and performance prior to placing them on the market. Due to the complexity of these systems, it takes many different test methods to achieve that goal. Whether fire, short circuit or extreme climate conditions – the laboratory in Aachen plays out every imaginable scenario that can stress and damage drive batteries.

Breathtaking pace of drive battery development

Automakers, engineering service providers, and automotive suppliers rely on this broad range of tests and services, which extends all the way to type approval. “For our customers, ensuring the safety of batteries is an integral part of their development programs. With our services, we provide urgently needed testing capacities, making it possible to equip innovative vehicles with safe drive batteries and place them on the market,” explains Artur Schneider, Managing Director of TÜV Rheinland ACT.

Fossil fuel-driven cars and trucks still offer advantages over electric vehicles, however. Refueling is faster than recharging, for example, and most models can travel farther on a tank than they can between charges. But the rate of development of new and ever-better batteries strongly suggests that the transformation toward electromobility will accelerate. Most new developments are aimed at achieving higher output or energy storage capacity and making the best possible use of the available package space: changes that must be tested, both with respect to quality and in terms of the effectiveness of safety systems. “The pace of new EV battery developments is breathtaking. Before these innovations can take to the road in series production vehicles, however, they must be fully tested,” explains Schneider.

Building trust as an e-mobility transformation trailblazer

All the EV batteries on our roads have undergone and passed such tests of safety and quality. TÜV Rheinland’s battery testing center is supporting and thereby also accelerating innovation. That’s why the Group sees itself as a trailblazer in society’s transformation to e-mobility, from classic internal combustion engine technology to the electric vehicle.

The battery is of crucial importance for the transformation to electromobility and for the general trust in the technology. “The transformation will only succeed if new development work places equal emphasis on performance, safety and sustainability,” says Artur Schneider. To satisfy their customers’ increasing demands with regard to sustainability, the drive battery testing experts in Aachen have also prioritized this aspect of the test procedures themselves. For example, the wastewater produced during testing is collected and disposed of by a specialized firm. And to ensure that no harmful gases are released into the environment, a multi-stage waste gas purification unit has been developed and installed specifically for the highly exposed areas.

Responsible for our actions

Four examples of how we put sustainability into practice at TÜV Rheinland:

Young Professional Conference (YPC) on sustainability topics

Our Young Professional Conference enables 48 in-house talents from various locations around the world to meet every two years to develop new business ideas: in 2023, sustainability topics took center stage.

Solar energy for TÜV Rheinland Spain

TÜV Rheinland Spain has developed an idea that spans all Business Streams: in the reporting year 2023, 1,125 photovoltaic modules were installed on 29 motor vehicle inspection stations.

1,125 photovoltaic modules

“ECO Circle”: Together for sustainability

“ECO Circle” is an initiative of our employees in Japan. They have set about developing energy-saving measures in their day-to-day work routine and organizing community activities.

TOUGH mentoring: Tandems for women with management potential

Diversity, respect, and appreciation are values that we live by. With the “TOUGH mentoring” program, we offer mentoring to women who can gain experience and receive direct coaching in a tandem with an experienced manager.

165 participants since 2013

UN Global Compact: Commitment to shared values

TÜV Rheinland is a signatory of the UN Global Compact, an initiative based on its Ten Principles and committed to the UN Sustainable Development Goals for fairer globalization.

Career

Our greatest asset resides in more than 20,000 clever minds: shared knowledge. It is from this tremendous wealth of experience that the people at TÜV Rheinland draw exceptional substance and inspiration for their worthwhile work. This enables us to pursue our most important basic principle without compromise: close attention to detail. If you share that passion with us and want to network your knowledge smartly, you will find TÜV Rheinland to be an employer who will support you and promote your personal and professional development.

At our seventh Young Professional Conference (YPC), 48 young employees from various locations around the world met in Abu Dhabi to develop new business ideas. Their work focused on four business cases examining the topics of circular economy, regulation and research database, sustainable personnel management, and CO2 reduction. After the three-day conference, all participants received individual feedback and a development plan for their next career steps at TÜV Rheinland.

The YPC seeks to identify and promote talent from within the company. It is aimed at employees with international development potential and between one and five years of company service. They can apply independently or be nominated by their line manager.

In the year under review, TÜV Rheinland Spain installed 1,125 photovoltaic modules on 29 motor vehicle inspection stations. The modules generate an output of 512 kilowatt-peak, so that 47 percent of the energy consumed on site now comes from renewable sources. The resulting annual reduction in emissions amounts to 260 metric tons of CO2. Most of the energy produced is used for our own consumption, which will also enable us to lower our operating costs in the medium term.

In the “ECO Circle” initiative, employees of TÜV Rheinland Japan have joined forces to promote greater sustainability. They look for opportunities to save energy in their everyday work, and organize community activities to raise awareness for specific environmental problems. In Kanagawa Prefecture, the location of our Japanese head office, a large number of colleagues joined their family members and friends in a clean-up day on the beach. “ECO Circle” uses such actions to raise awareness, within the workforce and beyond, for environmental and climate protection. The initiative also develops concrete proposals that the company can implement to act even more sustainably.

TÜV Rheinland’s “TOUGH mentoring” program is designed for female employees in Germany.

The principle: In mentee-mentor tandems, female employees benefit from a year-long exchange with experienced managers and gain insight into leadership roles. Social Media Manager Nancy Leuteritz reports positive results as a mentee: “I think it’s incredibly valuable to see that we all have to face similar challenges and self-doubts.” Her advice: “Find people who give you encouragement: A strong group of people around you is the key to success.” In 2023, the program was held for the ninth time already. Since 2013, 165 female employees have participated in all. The program will also be continued in the coming years.

Creating a work environment for our employees that is free of discrimination is an integral part of our corporate self-image. Moreover, a workplace without unequal treatment is a basic human right. We signed the UN Global Compact back in 2006. The initiative of the United Nations is based on Ten Principles and committed to the UN Sustainable Development Goals for a fairer globalization. In our declaration of principle on duties of care related to human rights and the environment, which we published in December 2022, we commit ourselves once again to uphold human rights and prevent human rights violations in our business activity and in our supply chain.

Financial Report

Group revenue

Despite worldwide inflation and the ongoing energy transition, TÜV Rheinland Group (hereinafter referred to as “TÜV Rheinland”) managed to remain on a course for growth in the 2023 financial year and achieved group revenues (including the changes in inventories) totaling to €2,439.4 million; this represents a year-over-year increase of 7.2%. The forecast specified for 2023 – to generate revenue growth in the mid-single-digit percentage range – was exceeded in spite of exchange-rate losses on the year. Viewed in adjusted terms – i.e. revenue at estimated rates of exchange – group revenue totaled to €2,464.8 million, which corresponds to a rate of growth of 10.2%. Revenue generated in the international regions totaled to €1,216.4 million, representing 49.9% (previous year: 49.4%) of total revenue.

Operating result (EBIT)

The operating result (EBIT) in the 2023 financial year totaled to €103.9 million, thus falling significantly short (by €76.4 million) of the previous year’s figure. The adjustment in provisions in connection with ongoing legal proceedings reduced the Group’s operating result by €47.2 million. After taking negative special effects totaling €70.3 million into account, adjusted EBIT stood at €174.2 million. Special effects resulted particularly from €47.2 million in adjustments to provisions for ongoing legal proceedings, €12.6 million in restructuring measures, €9.9 million in effects from purchase-price allocations (PPA) and €0.7 million owing to a change in the scope of consolidation.

Cash flow

The positive cash flow from operating activities amounted to €203.3 million in the 2023 financial year (previous year: €245.8 million); this represents a decrease of 17.3%. The consolidated net income of €34.7 million contrasted with non-cash depreciation and amortization of €145.4 million (previous year: €144.6 million). The negative cash flow from investing activities was €115.6 million higher compared to the previous year. The main drivers for this were investments in a non-current financial asset as well as payments from the acquisition of consolidated companies.

Employees

A total of 22,622 employees (full-time) or 23,335 employees (headcount) were employed at TÜV Rheinland as of the balance sheet date of December 31, 2023. On average, there were 22,092 full-time employees (full-time equivalents in FTE) during the reporting year; in a year-over-year comparison, this represented an increase of 1,222 employees or 5.9%. While 62.8% of the employees at TÜV Rheinland were male, the share of women was 32.5%, with the remaining 4.7% of employees not reporting a gender.

Corporate Report 2023

The Corporate Report 2023 for download.

The Report for the 2023 financial year illustrates how TÜV Rheinland defines and actively embodies the term Sustainability. In addition to the Sustainability Report, the Financial Report provides information on the economic development of the company.

Corporate Report 2023 4,00 MB Download PDF
Corporate Report 2022 4,30 MB Download PDF
Corporate Report 2021 5,10 MB Download PDF
Corporate Report 2020 3,40 MB Download PDF
Corporate Reports 2019 - 2011 65,60 MB Download ZIP

Our performance indicators: facts and figures at a glance

We want to help recognise and manage the impact of technological developments on people and the environment. We systematically record and document our contributions. We measure our progress using key performance indicators, or KPIs for short, which have been formulated for all of our key topics. Here you can find the respective KPIs and the status 2023.