22 Feb 2019

TURNOVER VDL BUS & COACH DIVISION DROPPED BY 7%

VDL Groep has reported its annual financial results. VDL Groep’s combined turnover rose by 18% from €5.049 billion in 2017 to €5.973 billion in 2018. The net result increased by 16% from €153 million in 2017 to €178 million in 2018. The turnover of the Bus & Coach division dropped by 7% from €477 million to €445 million.

Despite the drop in revenues from the Bus & Coach division VDL Groep states it is satisfied with the results over 2018. The loss in VDL Bus & Coach line is within expectations according to VDL because of substantial investments in the development of environmentally-friendly electric drive technology for heavy-duty mobility (battery and hydrogen-powered vehicles). The significant rise in the division’s order book value, which increased from €237 million in week 7 of 2018 to €530 million one year, gives VDL Bus & Coach confidence for 2019. The total number of large buses delivered in 2018 remained constant compared with 2017. Among them were 100 electric buses scheduled for service in the Amstelland-Meerlanden concession region in the Netherlands. It is the largest fleet of electronic buses in Europe which went into operation at one time. In addition, hundreds of electric city buses were ordered last year. VDL has delivered electric buses to 14 cities since November 2016 and they have clocked up a combined total of more than 22 million ‘clean’ kilometres. The Bus & Coach division is further investing in expanding its sales network to Scandinavia, Spain and Belgium to facilitate its customers in its core markets on a local level.

During 2018, VDL Groep’s combined order book value (excluding VDL Nedcar) grew by 62% from €768 million to €1.244 billion. The number of employees grew by 771 to 16,854 at the end of 2018. The turnover of Nedcar were MINIs and BMW X1s are built, increased by 28% from €2.850 billion in 2017 to €3.653 billion in 2018. Over 200.000 cars were produced. The division ended the year with a positive result. For VDL Groep, the year 2018 was also dominated by a large number of special activities, which included 936 support structures that has been made for the mirror of the world's largest telescope in Chile, an e-truck is co-developed with DAF and of there was the acquisition of Siemens Hengelo – the 100th VDL company. “2018 was challenging and demanding,” explains VDL Groep Chairman Willem van der Leegte. “Because we succeeded in organising our planned growth, we are satisfied with our performance over the last 12 months.”



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