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Annual financial report VDL Groep

Annual financial report VDL Groep

4 June 2020

For VDL Groep, 2019 was a challenging year in which we saw our turnover and profit fall for the first time since the crisis year 2009. Nevertheless, in view of the market conditions, we look back on 2019 with satisfaction. Below is a summary of some of the important events of 2019:

  • Combined revenue amounted to EUR 5.780 billion compared to EUR 5.973 billion in 2018. The decline in turnover, mainly due to lower production volume at VDL Nedcar, was smaller than forecast a year earlier. Our other activities largely compensated for the loss of turnover at VDL Nedcar.
  • The operating result remained stable at €203 million. Due to non-recurring income in 2018, the net result fell by 12% from €178 million in 2018 to €156 million in 2019.
  • The number of employees fell from 16,854 at the end of 2018 to 15,734 at the end of 2019.
  • We delivered products and services to 114 countries in 2019.
  • Major steps have again been taken in the field of smart mobility (electrification, connectivity, autonomous driving and 'mobility as a service') and we have further strengthened our position as a specialist and European market leader in the electrification of heavier vehicles. Some special milestones:
      1. Delivery of 500 electric buses
      2. Order for 80 electric and autonomous Automated Guided Vehicles (AGVs) for the Port of Singapore
      3. Presentation of the first electric waste collection vehicles together with DAF Trucks
      4. Expansion of our Load Test Centre in Valkenswaard with new technologies for charging heavy vehicles
  • We have won a number of prizes in 2019:
      1. VDL Groep has been declared winner of the Dutch Innovation Prize 2019
      2. VDL received the EY Family Business Legacy Award
      3. The DAF CF Electric VDL E-power, an electric truck co-developed by VDL, has been declared Green Truck Logistics Solution 2019.
  • In 2018, we invested 128 million euros in premises, machinery and other operating assets. In addition, 157 million euros was invested in R&D (engineering) activities. This makes us one of the top 10 most innovative companies in the Netherlands.
  • Sales in the first quarter of 2020 amounted to EUR 1.2 billion this year, compared to EUR 1.5 billion in the first quarter of 2019.
  • At the beginning of 2020, we were confronted with the consequences of the coronavirus. We would like to do our bit to get through this corona crisis as well as possible. For example, we have provided hundreds of mouth caps, hand gowns and protective clothing to the healthcare sector. Three VDL companies cooperated at lightning speed in the development of hundreds of respiratory systems from our partner Demcon.
  • Naturally, this crisis has major consequences for our family business. Our most important goal is that our employees and their families are healthy and safe. With appropriate measures to prevent the spread of the virus as much as possible, we try to continue our production for our continuity and preservation of employment. The consequences of this crisis are as yet incalculable, but it is obvious that they will be incredibly far-reaching.
  • If you are interested in reading our annual review, please download the entire document below.

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