TÜV SÜD South Asia registers 70% growth, adds to EURO 1.034 Billion global sales of TÜV SÜD Group worldwide.
Asia-Pacific region contributes over EURO 56 Million to total global sales
TÜV SÜD AG, world’s fourth largest testing, inspection and certification agency, closed its 2005 business year with the best results in its 140-year history. Indian operations, with a staggering sales growth of 70%, led the Asia Pacific region in its contribution to this rapid growth for the TÜV SÜD Group.
TÜV SÜD’s working has never been fitter. The Group crossed the EURO one billion mark for the first time. Their pre-tax result grew by 63% to EURO 110 million and they posted a return on sales of over 10%. TÜV SÜD companies abroad (outside Germany) contributed to 20% of total sales.
“Our performance over the last year can be attributed to our strong focus on the domestic sector of the Indian economy. As the Indian consumer has started demanding quality and value for money, TÜV SÜD South Asia has played a critical role in ensuring this as a technically competent and truly independent organization. From checking that fuel is “Pure for Sure” to ensuring that contractors do their job on building canals in Andhra Pradesh, we are dedicated to protecting our customers’ interests. By using highly qualified experts who compare with the best in the world, and who hold integrity and honesty above all values, TÜV SÜD South Asia’s customers and consumers can be confident that they are getting what they have paid for. I have no doubt that our future is as exciting as India’s”, said Mr. Ishan Palit, Managing Director, TÜV SÜD South Asia.
In India, TÜV SÜD engineers are supporting an extensive irrigation project in Andhra Pradesh. Daimler Chrysler has also relies on TÜV SÜD in India to certify its domestic authorized distribution network as per the international quality standard ISO 9001:2000. The network was thus the first authorized dealer network in Asia and the fifth worldwide to be certified to this standard.
Key Facts on TÜV SÜD AG
- Sales figures for year 2005 cross the EURO One Billion mark;
- Pre tax result 2005: EURO 110 million- i.e. growth of 63% compared to 2004;
- Return on Sales generated abroad has climbed to over 20% of total sales;
- Return on Sales rose from 7.4% to 10.5%;
- TÜV SÜD generated 79.8% of its sales in Germany;
- Europe contributed 11.8
“There has been an almost 70% sales growth in India and close to 26% growth throughout Asia as a whole. Today, TÜV SÜD has over 2,000 staff in the Asia-Pacific region. In fiscal 2005, our return on sales rose from 12.6% to 15.7%. The number of our offices in Asia has grown to over 50. Acquisition of the Singapore-based PSB Group, which is highly renowned in the Far East, has brought us a good way closer to our strategic goal of becoming one of the leading providers of testing, certification, training and consulting services in Asia. The acquisition has resulted in a staff increase of approximately 800 employees. PSB generate annual sales equivalent to over EURO 50 million.”, said the C.E.O (Industry and People), TUV SUD AG, Dr. Axel Stepken.
About TÜV SÜD South Asia
TÜV SÜD South Asia (tuvsouthasia.com) is India’s leading certifying, inspection and testing agency. It is a wholly owned subsidiary of TÜV SÜD Group (Germany), one of the world’s leading providers of services related to technical safety. TUV South Asia converted itself to a 100% TUV SUD Group subsidiary in 1999.
TÜV SÜD South Asia provides a portfolio of services across a wide range of industries and sectors that include Infrastructure, Pharmaceuticals, Food, Telecom, Domestic Retailing and Software to name a few.
Some of our clients are the Andhra Pradesh Irrigation and CAD Department, American Express India, Bajaj Electricals, Britannia Industries, Johnson & Johnson India, Nilkamal Plastics, Otis Elevators, Samsonite, Asahi India, Ceat, DaimlerChrysler India, Escorts, Ford India, General Motors, Hyundai Motors India, Kinetic Motors, NRB Bearings and Telecom Regulatory Authority of India (TRAI).
Balance Sheet on 8 May 2006
TÜV SÜD 2005 In Figures
in EUR million 2002 2003 2004 2005 Δ 2005/2004
Sales 887.8 938.0 978.3 1,034.4 + 5.7%
Total revenue 900.2 930.9 975.2 1,036.5 + 6.3%
Pretax result 40.1 31.4 67.8 110.4 + 62.8%
Return on sales (RoS) (%) 3.6 5.2 7.4 10.5 + 42%
Employee capacities* 9,190 9,235 9,237 9,647 + 4.4%
Number of employees ** 9,900 9,961 10,014 10,565 + 5.5%
Capital expenditures 46.5 36.1 43.4 57.3 + 32%
Cash flow 72 92 102 115 + 13.4%
* Annual average
** As at 31 December 2005