Consolidated income statement for the period from January 1 to December 31, 2016

In € millionNote20162015
Revenue(32)2,343.22,222.0
Own work capitalized4.33.2
Purchased services–292.9–286.8
Operating performance2,054.61,938.4
Personnel expenses(6)–1,421.2–1,328.6
Amortization, depreciation and impairment losses(7)–79.1–82.3
Other expenses(8)–434.4–430.6
Other income(9)56.753.2
Impairment of goodwill(13)–1.50.0
Operating result 175.1150.1
Income from investments accounted for using the equity method(10)11.611.5
Other income/loss from participations(10)12.10.8
Interest income(10)1.72.8
Interest expenses (10)–18.0–19.7
Other financial result(10)0.1–1.1
Financial result7.5–5.7
Income before taxes 182.6144.4
Income taxes(11)–52.1–30.4
Consolidated net income 130.5114.0
Attributable to:
Owners of TÜV SÜD AG117.3100.6
Non-controlling interests(12)13.213.4

 

 

Consolidated statement of comprehensive income for the period from January 1 to December 31, 2016

In € millionNote20162015
Consolidated net income130.5114.0
Items that will not be reclassified to the income statement:
Remeasurements of defined benefit pension plans(21)-48.244.5
Tax effect20.8-4.3
Total amount of items in other comprehensive income that will not be reclassified to the income statement-27.440.2
Items that will be reclassified to the income statement in future periods:
Available-for-sale financial assets
Changes from unrealized gains and losses1.210.1
Changes from realized gains and losses-11.3-0.1
-10.110.0
Currency translation differences
Changes from unrealized gains and losses14.77.4
4.77.4
Investments accounted for using the equity method
Changes from unrealized gains and losses1-2.1-3.5
Tax effect0.00.4
-2.1-3.1
Total amount of the items of other comprehensive income that will be reclassified to the income statement in future periods-7.514.3
Other comprehensive income(11)-34.954.5
Total comprehensive income95.6168.5
Attributable to:
Owners of TÜV SÜD AG84.9152.7
Non-controlling interests10.715.8

1 _ Prior-year figure restated; see note 5.

 

 

Consolidated statement of financial position as of December 31, 2016

In € millionNoteDec. 31, 2016Dec. 31, 2015
Assets
Intangible assets(13)392.7331.3
Property, plant and equipment(14)469.1439.4
Investment property(15)3.73.6
Investments accounted for using the equity method(16)28.125.2
Other financial assets(17)65.4103.3
Other non-current assets5.97.3
Deferred tax assets(11)257.5237.4
Non-current assets1,222.41,147.5
Inventories4.04.0
Trade receivables(18)463.2425.5
Income tax receivables11.211.4
Other receivables and other current assets(19)67.658.2
Cash and cash equivalents(31)245.4223.2
Current assets791.4722.3
Total assets2,013.81,869.8
Equity and liabilities
Capital subscribed(20)26.026.0
Capital reserve(20)124.4124.4
Revenue reserves(20)435.9346.4
Other reserves(20)6.713.6
Equity attributable to the owners of TÜV SÜD AG 593.0510.4
Non-controlling interests(12)49.446.6
Equity642.4557.0
Provisions for pensions and similar obligations(21)749.4772.8
Other non-current provisions(22)37.136.8
Non-current financial debt(23)1.51.0
Other non-current liabilities(25)12.67.4
Deferred tax liabilities(11)35.628.8
Non-current liabilities836.2846.8
Current provisions(22)134.1120.5
Income tax liabilities23.315.7
Current financial debt(23)5.24.1
Trade payables(24)104.692.1
Other current liabilities(25)268.0233.6
Current liabilities535.2466.0
Total equity and liabilities2,013.81,869.8

 

 

Consolidated statement of cash flows for the period from January 1 to December 31, 2016

In € millionNote20162015
Consolidated net income130.5114.0
Amortization, depreciation, impairment losses and reversals of impairment losses of intangible assets, property, plant and equipment and investment property76.781.9
Impairment of goodwill1.50.0
Impairment losses and reversals of impairment losses of financial assets0.20.8
Change in deferred tax assets and liabilities recognized in the income statement(11)–0.6–8.6
Gain/loss on disposal of intangible assets, property, plant and equipment and financial assets–1.5–0.9
Gain/loss on sale of shares in fully consolidated entities and business units0.0–0.3
Other non-cash income/expenses–7.1–9.2
Change in inventories, receivables and other assets–22.5–7.7
Change in liabilities and provisions64.351.2
Cash flow from operating activities241.5221.2
Cash paid for
investments in intangible assets, property, plant and equipment and investment property–77.4–80.4
financial assets–3.9–3.9
securities–0.5–22.1
business combinations (net of cash acquired)(3)–40.5–13.0
Cash received from
disposals of intangible assets and property, plant and equipment5.32.2
financial assets8.50.6
securities5.020.1
shares in fully consolidated entities and business units (net of cash disposed of)0.00.6
Contribution to pension plans(31)–101.3–120.7
Cash flow from investing activities–204.8–216.6
Dividends paid to owners of TÜV SÜD AG–2.1–2.1
Dividends paid to non-controlling interests–7.6–7.6
Repayments of loans including currency translation differences–6.3–0.7
Proceeds from loans including currency translation differences2.40.0
Other cash received or paid–1.60.2
Cash flow from financing activities–15.2–10.2
Net change in cash and cash equivalents21.5–5.6
Effect of currency translation differences and change in scope of consolidation on cash and cash equivalents0.74.5
Cash and cash equivalents at the beginning of the period223.2224.3
Cash and cash equivalents at the end of the period(31)245.4223.2
Additional information on cash flows included in cash flow from operating activities:
Interest paid0.80.9
Interest received1.46.7
Income taxes paid49.546.4
Income taxes refunded4.514.1
Dividends received11.710.3

 

 

Consolidated statement of changes in equity for the period from January 1 to December 31, 2016

Revenue reservesOther reserves
In € millionCapital subscribedCapital reserveRemeasurements of defined benefit pension plansOther revenue reservesCurrency translation differences1Available-for-sale financial assetsInvestments accounted for using the equity method1Equity attributable to the owners of TÜV SÜD AGNon-controlling interestsTotal equity
As of January 1, 201526.0124.4–369.2576.312.60.2–12.0358.336.8395.1
Total comprehensive income  39.3100.65.910.0–3.1152.715.8168.5
Dividends paid–2.1–2.1–5.9–8.0
Other transactions with owners1.51.5–0.11.4
As of December 31, 201526.0124.4–329.9676.318.510.2–15.1510.446.6557.0
As of January 1, 201626.0124.4–329.9676.318.510.2–15.1510.446.6557.0
Total comprehensive income–25.5117.35.3-10.1-2.184.910.795.6
Dividends paid–2.1–2.1–8.5–10.6
Other changes–0.2–0.20.60.4
As of December 31, 201626.0124.4–355.4791.323.80.1–17.2593.049.4642.4

1 _ Prior-year figure restated; see note 5.