Annual Report key figures
| Key figures | ||||||
| Business development (in € million) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3,639.2 | 3,429.0 | 3,139.3 | 2,863.3 | 2,667.3 | |
| Personnel expenses | 2,184.1 | 2,056.1 | 1,875.9 | 1,734.1 | 1,630.5 | |
| Cash flow from operating activities | 344.7 | 361.3 | 369.6 | 292.7 | 342.7 | |
| Free cash flow1 | 219.5 | 201.9 | 186.9 | 150.1 | 228.1 | |
| Capital expenditures | 126.7 | 150.5 | 180.5 | 153.8 | 106.3 | |
| EBIT2 | 215.5 | 216.6 | 217.7 | 195.0 | 225.2 | |
| Income before taxes | 216.0 | 225.0 | 225.1 | 182.7 | 215.1 | |
| Consolidated net income | 147.7 | 159.9 | 176.8 | 132.6 | 154.5 | |
| ROCE | in % | 8.9 | 10.1 | 11.5 | ||
| EBIT margin | in % | 5.9 | 6.3 | 6.9 | 6.8 | 8.4 |
| EBIT margin, adjusted | in % | 6.4 | 6.9 | 7.6 | 7.7 | 8.8 |
| EBT margin | in % | 5.9 | 6.6 | 7.2 | 6.4 | 8.1 |
| EBT margin, adjusted | in % | 6.4 | 7.1 | 7.9 | 7.1 | 8.4 |
| Assets | ||||||
| Non-current assets | 2,324.3 | 2,383.8 | 1,961.7 | 1,970.0 | 1,722.3 | |
| Current assets | 1,319.8 | 1,199.5 | 1,339.5 | 1,103.9 | 945.0 | |
| Total assets | 3,644.1 | 3,583.3 | 3,301.2 | 3,073.9 | 2,667.3 | |
| Equity ratio | in % | 55.1 | 54.7 | 54.7 | 54.6 | 48.2 |
| Employees | ||||||
| Full-time equivalents (annual average) | 27,974 | 26,529 | 25,023 | 23,957 | 23,220 | |
| Headcount | ||||||
| As of December 31 | 30,526 | 29,989 | 27,905 | 26,595 | 25,538 |
The 3 most important key figures
3,639.2
126.7
216.0

Message from the Board of Management
Independent testing, inspection and certification services form the foundation for technological progress and sustainable economic development. In its message, the Board of Management reaffirms TÜV SÜD’s commitment to shaping this progress responsibly and contributing to a safe and sustainable future.

Report of the Supervisory Board
As the controlling body of TÜV SÜD AG, the Supervisory Board, chaired by Frank Hyldmar, oversees the company’s management. The Report of the Supervisory Board for the 2025 fiscal year can be found here.

Annual Report 2025
You can view and download the full annual report here.
