19 Feb 2020

VDL BUSES & COACHES IN 2019: 48 PERCENT HIGHER TURNOVER

VDL Buses & Coaches had a very good 2019. The turnover of the Buses & Coaches division increased by 48 percent from 446 million euros to 658 million euros. For 2020 VDL Bus & Coach 2020 expects it will be a difficult year for the Buses & Coaches division. VDL missed out on two large concessions in the Netherlands with in total 415 electric buses. These orders were awarded to Chinese competitors. The order portfolio decreased from 530 million euros in week 7 of 2019 to 430 million euros one year later.

Considerable investments caused VDL Bus & Coach to close the year 2019 with a slight loss. Over the past year the position of VDL Bus & Coach in e-mobility improved further. The demand for electric transport is increasing. From the 3,000 electric buses that are registered in Europe over the past 8 years, 670 of them are made by VDL Bus & Coach, the Dutch company proudly presents. Those 670 electric buses are delivered in 10 countries between 2015 and 2019. VDL states that with this it is European market leader with a share of 22 percent. New electric buses have been announced or delivered in the Netherlands, Norway, Denmark, Sweden, Finland, Germany, Belgium, France, Switzerland and Italy. The order portfolio decreased from 530 million euros in week 7 of 2019 to 430 million euros one year later.

Did the VDL Bus & Coach division well the past year, the turnover of VDL Groep in 2019 decreased slightly when compared to 2018. This was due to a lower production volume at VDL Nedcar, smaller than forecast one year ago. VDL Groep was able to keep the operating result stable despite the decrease of the turnover and a significant increase of the wage costs.

The combined turnover of the industrial family business with its headquarters in Eindhoven amounted 5.780 billion euros, compared to 5.973 billion euros in 2018. This represents a decrease of 3.2 percent. At 203 million euros, the gross operating result is comparable to the previous year (202 million euros). The net result is, due to extraordinary income in 2018, decreased by 12 percent from 178 million euros in 2018 to 156 million euros in 2019. The order portfolio, not including VDL Nedcar, has been filled amply throughout the year with a peak in week 5 of 1.269 billion euros, which is a historic record and no less than 60 percent higher than the year before. The number of employees decreased by 919 to 15,935 employees by the end of 2019.

Despite a high order portfolio (excluding VDL Nedcar) at 1.230 billion euros in week 7 of 2020, VDL Groep expects a decrease in annual turnover for 2020 compared to 2019. A decrease in sales is also expected for the Buses & Coaches division. VDL Groep intends to follow an investment programme for 2020 of approximately 160 million euros.



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