Report of the Supervisory Board - tuv nord italia

Combined Management Report
of TÜV NORD Group and TÜV NORD GmbH
for the 2004 business year (condensed version)*
General development
The new TÜV NORD Group had a successful
first business year. The bringing together
of the technical inspection agency activities
of TÜV Hannover/Sachsen-Anhalt e.V., TÜV
NORD e.V. and RWTÜV e.V. was effected at
the end of August 2004, and has retrospective
commercial effect as from 1 January
2004. The new TÜV NORD Group started
operating without any delays resulting from
the merger, and has positioned itself among
the leading international providers of technical
inspection services.
TÜV NORD Group, with TÜV NORD GmbH
as its management company, embraces
a total of 49 fully consolidated companies
in 18 countries, and also 6 associated companies,
42 non-consolidated affiliates (including
20 administrative companies), and
stakes in 13 other companies. In the first
business year after they came together,
Group sales revenues of €600.7 million and
Group earnings before tax (EBT) of €17.3
million were achieved.
*The complete annual financial statements and consolidated
financial statements as at 31.12.2004 and the full-length
combined management report are open to inspection at the
Local Court at which the Company is registered, pursuant to
Art. 325 ff HGB (German Commercial Code).
20
Sales revenues
by business unit
The Group has divided its operations up into
7 business units. In the first business year,
the following sales revenues were achieved
(as this is the initial consolidation, there are
no comparative figures for the previous year):
€ million
Mobility 253.7
Systems 164.7
Energy and Systems Engineering 70.5
International 45.7
Certification 29.3
Training and Human Resources 22.6
Traffic Psychology 14.2
The Mobility business unit covers the entire
range of the vehicle inspection and testing
business. Due to the difficult economic
situation and the intense pressure of competition,
it was not quite able to achieve its
sales targets. The business unit’s revenues
remained flat at €253.7 million.
The biggest company in this business unit,
TÜV NORD Strassenverkehr GmbH & Co.
KG, increased its revenues by €1.4 million
in 2004 as compared with the previous
year. Although the number of general
vehicle inspections carried out was slightly
down on the previous year, this was offset
by increases in technical reports on vehicles
pursuant to Sec. 21 of the Road Traffic Ordinance
(StVO), driving tests and sales of new