VDL Groep Revenue in 2025 slightly down, earnings recovered

Combined annual revenue in 2025 amounted to 4.064 billion euros, a 5 percent decrease compared to 2024 (4.281 billion euros). Net income rose by 83 percent, from 66 million euros in 2024 to 121 million euros in 2025. The order backlog fell by 6 percent in 2025 to 1.855 billion euros but has since grown by 12 percent and stands at a record 2.082 billion euros in week 11 of 2026. The number of employees has remained unchanged since the beginning of 2026 and stands at approximately 13,500 colleagues.

‘Positive that profitability has improved’
Willem van der Leegte, CEO of VDL Groep: “Revenue and earnings in 2025 developed in line with our expectations: although revenue declined slightly, earnings nevertheless recovered. It is encouraging that the steps we are taking are resulting in improved profitability. Despite uncertainties regarding the actual impact of geopolitical developments, we anticipate that the first half of 2026 will continue the trend seen in 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 in our order book.”

Supplies
Revenue in the Supplies division fell by 7 percent to 2.591 billion euros (2024: 2.795 billion euros). Activities in VDL’s growth markets, such as food tech, infra tech, and energy, are performing well. In other core markets—high tech and mobility—operating companies have faced delays. These VDL companies have strategically positioned themselves for future growth. Starting in the fall of 2025, customers in the semiconductor industry began placing more orders. Because the VDL operating companies in this division are located on three continents, they are able to supply customers locally worldwide, thereby minimizing the impact of geopolitical developments. The Supplies division is profitable. The Supplies order book amounts to 890 million euros.

Finished Products
The VDL companies that make up the Finished Products division generated revenue of 935 million euros last year, an increase of 18 percent compared to 2024 (792 million euros). The companies comprising this division, which engage in a wide range of activities, are generally well-positioned. The Finished Products division is profitable. The order backlog stands at 546 million euros.

Buses
Revenue for the Buses division grew by 6 percent to 538 million euros. The year 2025 was marked by the merger of VDL Bus & Coach and VDL Van Hool into VDL Bus Group, a single organization operating under two brands: VDL and Van Hool. 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 in the focus markets of Germany, the Netherlands, Belgium, and France.

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

In addition, 2025 marked the introduction of the new VDL Futura 3. The vehicle was enthusiastically received at Busworld in the fall and will be delivered in Europe starting in 2026. This new coach, produced in Valkenswaard, stands out for its low energy consumption, safety, and maximum operational flexibility. With innovations in safety, autonomous functions, and battery technology, VDL Bus Group continues to build future-proof and sustainable mobility solutions.

The Buses division is operating at a loss. The Buses order book stands at 611 million euros.

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 to further develop the site along four strategic lines: sustainable mobility, battery packs and new energy systems, high-tech manufacturing, and the defense industry.

The ambition is to transform VDL’s site in Born into a sustainable, autonomous production location for the national and European high-quality manufacturing industry, with a positive impact on employment and the economy. In this context, a strategic partnership has been established with the Ministry of Defense to scale up national production capacity for both the Dutch and European defense industries. The government is calling on VDL Groep to utilize its development and manufacturing expertise for this purpose.

Acquisitions
VDL Groep acquired two companies in 2025. With the acquisition of Crux Agribotics, renamed VDL Agrobotics, VDL Groep has further strengthened its position in food tech, one of the growth markets for this family-owned industrial company. Using data and artificial intelligence, VDL Agrobotics’ “smart robot” classifies, sorts, and packages fruits and vegetables, helping the company contribute to the automation of global horticulture. Through robotization, growers save on labor costs and food waste is reduced. Additionally, the generated data is analyzed to further optimize the cultivation process. VDL Agrobotics is based in Eindhoven and has 60 employees.

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 employees work at both locations. VDL Sintecs designs and develops complex digital electronics for customers in the high-tech sector, in markets such as telecom, automotive, medical, energy, and defense. We are delighted that VDL Agrobotics and VDL Sintecs are part of VDL Groep.

In early 2026, VDL Groep acquired the Flemish company Limoco, a specialist in industrial ventilation systems.

Outlook
VDL Groep’s revenue and earnings are expected to grow in 2026, with growth anticipated primarily in the second half of the year. These forecasts depend on the impact of instability in the Middle East, which is difficult to assess at this time. If this instability persists, it will drive up costs.

VDL Groep’s order book stands at a high level of over 2 billion euros. Thanks to the diversity of its activities, VDL is well-positioned in various growth markets: high-tech, mobility, energy, food tech, infra tech, 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.