TODAY FOR TOMORROW
Corporate Report 2023
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
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
TÜV Rheinland worldwide
Germany
Revenue1,223.0 Mio.
Greater China
Revenue485.40 Mio.
Asia-Pacific
Revenue137.10 Mio.
India/Middle East/Africa
Revenue156.00 Mio.
Europe
Revenue306.50 Mio.
South America
Revenue61.50 Mio.
North America
Revenue70.00 Mio.
Sustainably engaged for our customers
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.
Responsible for our actions
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.
“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.
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.
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.