TüV SüD reports rise in revenue and earnings

International service corporation TüV SüD increased its revenue by 10.1% to over

€1.55 billion ($2.67 billion; 2009: €1.41 billion) in the past year, while earnings before taxes even show a year-on-year increase of 21% to €123 million (2009: €102 million).

This has enabled the company to spend around €133 million on expanding its business (€52.2 million) and on acquisitions (€80.5 million).

It has also acquired eight large-scale companies, almost all of them located outside Germany; the two largest acquisitions, for example, are headquartered in the US and South Korea.

In 2010, the company generated 33% of its revenue abroad, which is a year-on-year increase of 3 percentage points.

"Revenue growth was strongest in the Americas region at around 40% and in the Asia-Pacific region at almost 30%," said CFO Dr Peter Klein.