VDL Groep's revenue slightly declined, with results expected to recover in 2025

The year 2025 has been marked by a recovery in results for VDL Groep. Revenue has slightly declined. The main reasons for this are the downturn in hightech (semiconductor) and the decrease in turnover in automobile manufacturing at VDL Nedcar. Growth is expected in 2026, both in revenue and in results.

The combined annual turnover in 2025 amounted to €4.064 billion, a decrease of 5 percent compared to 2024 (€4.281 billion). The net profit increased by 83 percent from €66 million in 2024 to €121 million in 2025. The order portfolio decreased by 6 percent in 2025 to €1.855 billion, but has since grown by 12 percent and reached a record €2.082 billion in week 11 of 2026. The number of employees has remained unchanged since the beginning of 2026 and is about 13,500 colleagues.

'Positive that returns have improved'
President and CEO Willem van der Leegte of VDL Groep: “Revenues and results developed in line with our expectations in 2025: although revenue slightly declined, the results have nonetheless recovered. It is positive that the steps we are taking are resulting in better returns. Despite uncertainties about the actual impact of geopolitical developments, we anticipate that the first half of 2026 will continue the trend of 2025, and we expect the second half of 2026 to be characterized by growth. This forecast is supported, among other things, by the strong underlying trend of our order portfolio.”

Supplies
The turnover in the Supplies division has decreased by 7 percent, reaching €2.591 billion (2024: €2.795 billion). Activities in VDL’s growth markets, such as foodtech, infratech, and energy, are doing well. In other core markets, hightech and mobility, subsidiaries have experienced delays. These VDL companies have proactively prepared for future growth. From the autumn of 2025, customers in the semiconductor industry have increased their orders. Because the VDL subsidiaries in this division are located on three continents, they are able to supply customers worldwide locally, reducing the impact of geopolitical developments. The Supplies division is profitable. The order portfolio of Supplies amounts to €890 million.

Final Products
The VDL companies that form part of the Final Products division achieved a turnover of EUR 935 million last year, an increase of 18 percent compared to 2024 (EUR 792 million). The companies within this division, which engage in diverse activities, are generally well positioned. The Final Products division is profitable. The order book stands at EUR 546 million.

Buses
The revenue of the Buses division has increased by 6 percent to €538 million. The year 2025 has been marked by bringing together VDL Bus & Coach and VDL Van Hool into VDL Bus Group, one organization operating two brands: VDL and Van Hool. The production of the fully electric VDL Citea was scaled up and concentrated in Roeselare in 2025. The order book for 2026 is fully booked, with deliveries focused on Germany, the Netherlands, Belgium, and France.

The coach sector also experienced growth in 2025. 2025 was the first full production year for Van Hool under the VDL Bus Group banner, with new European contracts and a stable foundation for the North American market. In North Macedonia, Van Hool vehicles are being built for both Europe and the US.

Additionally, 2025 marked the introduction of the new VDL Futura 3. The vehicle was enthusiastically received at Busworld in the autumn and will be supplied across Europe from 2026. This new coach, manufactured in Valkenswaard, stands out for its low energy consumption, safety, and maximum versatility. With innovations in safety, autonomous functions, and battery technology, VDL Bus Group continues to develop future-proof and sustainable mobility solutions.

The Bus division is unprofitable. The bus order backlog amounts to €611 million.

VDL in Born
In consultation with the province of Limburg and other (local) authorities, the various divisions of VDL Groep in Born, VDL Nedcar, VDL Special Vehicles, VDL Mobility Innovation Centre, and VDL Defentec, are working on the further development of the site along four strategic development directions: sustainable mobility, battery packs and new energy systems, high-tech manufacturing industry, and defense industry.
The ambition is to transform VDL's site in Born into a sustainable, autonomous production location for the nationally and European high-value manufacturing industry, with a positive impact on employment and the economy. In this context, a strategic collaboration has been established with the Ministry of Defence to scale up the national production capacity for the Dutch and European defense industry. The government is calling on VDL Groep to leverage its development and manufacturing competencies for this purpose.

Acquisitions
VDL Groep acquired two companies in 2025. With the acquisition of Crux Agribotics, renamed VDL Agrobotics, the position of VDL Groep is further strengthened in foodtech, one of the growth markets of the industrial family business. Through data and artificial intelligence, the ‘smart robot’ of VDL Agrobotics classifies, sorts, and packs vegetables and fruit, contributing to the automation of global horticulture. Using robotics, growers save on labor costs and food waste is countered. Additionally, generated data is analyzed to further optimize the cultivation process. VDL Agrobotics is based in Eindhoven and employs 60 colleagues.
Just before the end of 2025, VDL Groep further strengthened its position in high-end electronics with the acquisition of Sintecs from Hengelo and Vilnius (Lithuania). A total of approximately 80 colleagues work at both locations. VDL Sintecs designs and develops complex digital electronics for clients in high-tech markets such as telecommunications, automotive, medical, energy, and defense. We are pleased that VDL Agrobotics and VDL Sintecs are part of VDL Groep.
In early 2026, VDL Groep acquired the Flemish Limoco, a specialist in systems for industrial air technology.

Outlook
Revenue and results of VDL Groep are expected to grow in 2026, with the majority of the growth anticipated in the second half of the year. These outlooks are dependent on the impact of the instability in the Middle East, which remains difficult to assess at this stage. If this instability persists, it will have an inflationary effect on costs.
The order portfolio of VDL Groep is at a high level of over 2 billion euros. Due to the diversity in activities, VDL is well positioned in various growth markets: high-tech, mobility, energy, foodtech, infratech, and defense. Due to geopolitical developments, it is important for the Netherlands and Europe to build a strategically relevant position in these sectors as well, thereby reducing dependencies on other parts of the world.