TÜV Rheinland achieves sustainable growth – testing for green hydrogen, photovoltaic systems, and batteries.
TÜV Rheinland, the global testing services provider, closed fiscal year 2022, its 150th anniversary, with revenues of €2.275 billion (compared to €2.09 billion in 2021), an increase of 8.8%.
In the fiscal year 2022, TÜV Rheinland’s operating result (EBIT – Earnings Before Interest and Taxes) at €180.3 million exceeded the previous year’s result by €22.5 million, which was €157.8 million. The EBIT margin reached 7.9 percent from 7.5 percent in 2021.
The workforce increased by 3.1% to 20,870 full-time employees worldwide. TÜV Rheinland’s investments in 2022 increased by more than €33 million compared to 2021, reaching €90.8 million. With this, the investment volume increased by 57.4 percent.
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Dr. Michael Fübi, CEO of TÜV Rheinland AG, highlights:
In 2022, we demonstrated once again that TÜV Rheinland is on stable footing, even in times of uncertainty and multiple crises.
“In our 150th anniversary year, we generated revenues of around €2.3 billion and solid earnings of more than €180 million. We could not have achieved this without the excellent performance and considerable expertise of our employees. The positive results mean that we can invest in our future and sustainable growth.”
The equity of TÜV Rheinland, a company founded on October 31, 1872, as “Verein zur Überwachung der Dampfkessel in den Kreisen Elberfeld und Barmen” (Association for the Inspection of Steam Boilers in the Elberfeld and Barmen Districts), increased by €205.1 million from €436.2 million to €641.3 million in 2022.
This brought the equity ratio to 27 percent in the reporting year (2021: 17.7 percent). Positive cash flow from operating activities totaled €245.8 million in the 2022 financial year (2021: €205.9 million).
Test, certify, and educate: growth across all business streams and regions
In 2022, TÜV Rheinland experienced revenue growth across all business streams and regions in which the company operates.
Its employees conducted approximately 400,000 industrial inspections worldwide and tested around 300,000 products, in addition to inspecting nearly ten million vehicles and awarding a total of 50,000 certificates in accordance with ISO standards. The TÜV Rheinland Academy also provided advanced training to around 150,000 people through seminars.
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TÜV Rheinland achieves sustainable growth, LITTLETON, Mass., May 15, 2023
