VDL GROEP ANNUAL REPORT 2016 VDL GROEP ANNUAL REPORT 2016
VDL GROEP ANNUAL REPORT 2016
VDL Groep bv
Hoevenweg 1 5652 AW Eindhoven the Netherlands Phone +31 (0)40 - 292 50 00 [email protected] www.vdlgroep.com
1 CONTENTS
3 Financial highlights
4 Profile of VDL Groep
5 Group structure
7 Report of the Board of Management
45 Report of Supervisory Board
46 Auditor’s report
47 Annual accounts 2016
52 Principles for valuation and determining the result
63 Subsidiaries
2 FINANCIAL HIGHLIGHTS
(x 1,000 euro)
2016 2015 2014 2013 2012
Combined turnover 3,208,375 2,686,499 2,545,519 1,812,313 1,756,354
Consolidated turnover 3,032,133 2,522,070 2,342,041 1,632,108 1,628,857
Gross profit 187,688 167,181 117,988 95,610 87,407
Profit before tax 194,213 163,744 120,209 98,027 75,679
Profit before tax / turnover 6.1% 6.1% 4.7% 5.4% 4.3%
Net profit 149,571 125,406 104,247 88,582 56,755
Net profit / turnover 4.7% 4.7% 4.1% 4.9% 3.2%
Depreciation of (in)tangible fixed assets 66,443 61,198 46,300 47,326 32,490
Cash flow 216,014 186,604 150,547 135,908 89,245
(Dis)investments on tangible fixed assets 112,993 124,259 114,459 82,456 213,072
Equity 1,125,774 1,017,179 924,894 854,350 788,480
Total assets 1,895,179 1,683,108 1,660,407 1,382,879 1,403,669
Equity / total assets 59.4% 60.4% 55.7% 61.8% 56.2%
Net profit / equity 13.3% 12.3% 11.3% 10.4% 7.2%
Employees as at 31 December 13,356 10,623 10,303 9,216 8,757
2 3 PROFILE OF VDL GROEP
Strength through cooperation. That is the cornerstone of VDL Groep, the international industrial family business headquartered in Eindhoven, the Netherlands. The company was founded in 1953 by Pieter van der Leegte. Initially VDL Groep specialised in metalworking. Later the portfolio was expanded to include plastics processing, the development, manufacture and sales of buses and coaches, and high‑tech subcontracting for the semiconductor industry and others.
Today VDL Groep is a major player in the subcontracting and semi-finished products sectors, produces its own finished products, such as suspension systems, is active in automotive factory automation, builds heat exchangers and container handling systems, and the family business owns VDL Nedcar in Born, the Netherlands' only large passenger car assembly factory, which carries out assembly line production of cars for third parties. VDL Groep innovates through a combination of craftmanship, entrepreneurship and high‑quality machinery. The group of companies combines the clout of a multinational with the flat organisation and open, informal working atmosphere of a family business where priority is given to growth opportunities and continuity.
VDL Groep operates with allmost 15,000 employees in 19 countries. The group comprises 92 operating companies, each with its own speciality, which work together intensively. The combined annual turnover in 2016 was 3.2 billion euros. In November 2016, after 50 years of entrepreneurship, Wim van der Leegte passed the reins of the family business to the management team, which includes his three children Pieter, Jennifer and Willem. Willem van der Leegte has succeeded his father as President and CEO of VDL Groep.
4 GROUP STRUCTURE
VDL Groep
VDL Nederland VDL Holding Belgium
Subcontracting Car Assembly Buses & Coaches Finished Products
VD Leegte Metaal VDL Nedcar VDL Bus & Coach VDL Agrotech VDL Gereedschapmakerij VDL Bus Chassis VDL Industrial Products VDL TIM Hapert VDL Bus Modules VDL Steelweld VDL VDS Technische Industrie VDL Bus Heerenveen VDL Steelweld UK VDL Laktechniek VDL Bus Venlo VDL Steelweld Deutschland VDL Belgium VDL Bus Roeselare VDL Steelweld Sweden VDL Technics VDL Bus Valkenswaard VDL Steelweld Suzhou VDL Kunststoffen VDL Bus & Coach Nederland VDL Steelweld California VDL HMI VDL Bus & Coach France VDL Steelweld Michigan VDL NSA Metaal VDL Bus & Coach Italia VDL Steelweld South Carolina VDL Apparatenbouw VDL Bus & Coach Belgium VDL Hapro VDL MPC VDL Bus & Coach Polska VDL Klima VDL Parree VDL Bus & Coach Deutschland VDL Klima Belgium VDL Staalservice VDL Bus & Coach Suisse VDL Klima France VDL Lasindustrie VDL Bus & Coach Czech Republic VDL KTI VDL RPI Metaal VDL Bus & Coach South Africa (70%) VDL Delmas VDL Rotech VDL Bus & Coach Serbia VDL Containersystemen VDL Systems VDL Bus & Coach Danmark VDL Containersysteme VDL Postma VDL Bus Center Nederland VDL Translift VDL Industrial Modules VDL Bus Center Deutschland VDL Weweler VDL Konings VDL Busland VDL Weweler Parts VDL Wientjes Roden VDL Bus & Coach Service FRY-ZHN VDL Weweler-Colaert VDL Wientjes Emmen VDL Bus & Coach Service Brabant Truck & Trailer Industry VDL Services VDL Bus & Coach Service Limburg VDL PMB-UVA VDL Enabling Technologies Group VDL Parts VDL USA VDL ETG Eindhoven VDL Enabling Transport Solutions VDL Middle East VDL ETG Projects VDL ETG T&D VDL ETG Almelo VDL ETG Singapore VDL ETG Suzhou VDL ETG Switzerland VDL Network Supplies VDL Fibertech Industries VDL GL Precision (88%) VDL Castings Heerlen VDL Castings Weert
4 5 6 REPORT OF THE BOARD OF MANAGEMENT
For VDL Groep, 2016 was an eventful year, in many respects, not least of which was the 50th anniversary celebration of Wim van der Leegte and the handover of the chairmanship of the management team to Willem van der Leegte. Other special moments included a visit to BMW Group in Munich in April, where Wim and Willem accompanied His Majesty King Willem-Alexander and Her Majesty Queen Máxima, in honour of the 100th anniversary of the founding of BMW, and the visit by Prime Minister Mark Rutte to VDL Nedcar on 2 November, to mark the start of production of the MINI Countryman. In commercial terms, too, 2016 was a spectacular year for our 64 year-old family business. Partly as a result of cooperation within the group of companies with its 92 subsidiaries, the group succeeded in again breaking many of the records set in 2015.
The combined (accumulated) turnover rose from 2.687 billion euro in 2015 to 3.208 billion euro in 2016. Consolidated turnover amounted to 3.032 billion euro as compared to 2.522 billion euro in 2015. The net result rose by 20 percent, from 125 million euro in 2015 to 150 million euro in 2016. We are enormously proud of this excellent performance. “We are absolutely delighted with the growth that has taken place within our companies,” commented President of the group, Willem van der Leegte. The result offers room for investments in 2017. VDL Groep enjoys a strong asset position and is a financially healthy family business. The balance sheet position remains unabatedly strong, with solvency of more than 59 percent. The same applies to the cash flow, which rose in 2016 by more than 29 million euro, to 216 million euro.
The number of employees also rose from 10,623 at year end 2015 to 13,356 at year end 2016. Much of this growth was achieved autonomously. Many of our new colleagues are employed at VDL Nedcar, but our other companies are also showing solid growth. More than 90 percent of our employees work in the Netherlands and Belgium. Remarkably, VDL Groep today employs representatives of 80 different nationalities.
CONSOLIDATEDCONSOLIDATED TURNOVER TURNOVER NET PROFITNET PROFIT (in million euro)(in million euro) (in million euro)(in million euro)
3,200 3,200 150 150
2,900 2,900 135 135
2,600 2,600 120 120
2,300 2,300 105 105
2,000 2,000 90 90
1,700 1,700 75 75
1,400 1,400 60 60
1,100 1,100 45 45
800 800 30 30
2012 20132012 20142013 20152014 20162015 2016 2012 20132012 20142013 20152014 20162015 2016
6 7 Turnover Combined turnover for 2016 amounted to 3.208 billion euro. As compared to the 2.687 billion euro in 2015, this represents an increase of more than 19 percent. Internal deliveries rose in absolute terms and our own production capacity was well utilised in 2016.
2016 2015 euro million euro million
Combined turnover 3,208 2,687 Internal deliveries -176 -165
Consolidated turnover 3,032 2,522
The balance between international and domestic turnover in 2016 changed fractionally compared to 2015. 78 percent of our turnover is generated outside the Netherlands.
2016 2015 euro million % euro million %
International 2,355 78 1,939 77 Domestic 677 22 583 23
3,032 2,522
In 2016, we supplied products worldwide to 105 countries outside the Netherlands. International turnover amounted to a total of 2,355 million euro. Divided among the various continents, the following image emerges: Europe 2,123 million euro, Asia 146 million euro, America 69 million euro, Africa 12 million euro and Oceania 5 million euro. If turnover is broken down country by country, we see that Germany was our largest market. The Netherlands, the United Kingdom, Belgium and Singapore complete the top five.
TURNOVER PER COUNTRY Germany 1,583 Italy 25 (in million euro) Netherlands 677 Denmark 24
United Kingdom 100 Finland 23
Belgium 88 Norway 22
Singapore 77 China 14
USA 63 Czech Republic 13
France 61 Iceland 12
Sweden 41 Taiwan 12
Switzerland 40 Spain 10
Poland 37 Others 110
8 Divisions If the combined turnover of VDL Groep is broken down according to the divisions, we see that the growth in turnover in 2016 was achieved by the divisions Car Assembly, Buses & Coaches and Finished Products.
2016 2015 euro million % euro million %
Subcontracting 892 28 914 34 Car Assembly 1,368 43 912 34 Buses & Coaches 437 13 386 14 Finished Products 511 16 475 18
3,208 2,687
Subcontracting Turnover in the Subcontracting division fell slightly, from 914 million euro in 2015 to 892 million euro in 2016. This downturn related above all to deferred orders for Subcontracting in the high-tech sector. The result for the Subcontracting division is in line with the result for 2015. In 2016 VDL Groep invested heavily in research and development capacity with a view to further optimising our expertise as a high-tech subcontractor. The outcome of this includes more intensive cooperation with our clients, with a trend shifting from build to print to build to specification.
SUBCONTRACTING (turnover per sector)
Mechatronic systems 56%
Metalworking 35%
Plastics processing 8%
Surface treatment 1%
2016 2015 euro million % euro million %
Mechatronic systems 495 56 520 57 Metalworking 315 35 316 34 Plastics processing 73 8 71 8 Surface treatment 9 1 7 1
892 914
8 9 Prospects for 2017 are positive. In the first quarter of 2017, turnover at the Subcontracting division rose from 229 million euro (2016) to 267 million euro. The order book at the end of the first quarter of 2017 amounted to 335 million euro as compared to 281 million euro one year ago. VDL Groep expects the Subcontracting division to grow further in 2017. Because of better quality, lower transport costs and political stability, more and more companies are getting back to the Netherlands from production from low-wage countries. In addition, the semiconductor and automotive markets, both important for this division, appear to be strengthening.
Mechatronic systems and system supply Turnover in the mechatronic systems and system supply division fell slightly in 2016 from 520 to 495 million euro. This fall can be explained by the delay in sales at high-tech subcontracting.
In 2016, VDL ETG focused specifically on strengthening a number of development competences with a view to implementing a further shift from build to print to the independent elaboration of solutions for customers (build to specification). As a consequence, we are clearly starting to stand out in the high-end subcontracting market. The same applies for our ultraprecision activities. With the exception of quick service, VDL ETG relocated its research activities from the High Tech Campus in Eindhoven to two other VDL ETG locations in Eindhoven. Building work was also undertaken at various locations. This building work will continue into 2017.
2016 was also a year in which the additional efforts made in Silicon Valley in the United States since 2014, were rewarded with attractive orders. These orders will have a positive impact on our factories in Asia and Europe. Partly as a result of, and due to a market upturn in the semiconductor and LED industry, we expect significant growth in 2017.
VDL GL Precision, acquired in 2014 and since April 2017 88 percent owned by VDL Groep, has granted us valuable access to the aerospace market. With that in mind, the VDL Aerospace Technologies sales cluster was launched with a number of other VDL companies. The total sector for mechatronic systems and system supply succeeded in considerably broadening its customer base in 2016.
Metalworking Turnover in the metalworking sector remained stable, at 315 million euro. This can be explained by the fact that the VDL companies active in this market maintain a presence in many branches of industry. Markets that are performing well include machine building, energy, automotive and defence. Customers who saw their turnover slump during the years of the credit crunch are starting to recover with order numbers reaching the level of the pre-crisis years. The leisure sector is also investing more. VDL Konings in Swalmen, for example, is currently working on serial production of trains for a roller coaster.
In 2016 our metalworking companies invested heavily in machines. We expect this line to continue into 2017. Also in metalworking, suppliers are increasingly and more often contributing ideas to customers, also during the development phase of a product or product component. Work has become more project- based than in the past. Flexibility and the ability to respond rapidly and adequately to demands from the market are starting to pay off.
10 In an expanding economy, demand for trained professionals in order to match growth on the market is continuing to grow, and is starting to take on the same proportions as before the crisis years. As a result, recruiting well-trained technical personnel is becoming increasingly difficult. It is therefore becoming all the more important to deploy the expertise of our employees at the right location. Because it is becoming ever harder to find well-trained craftsmen on the labour market, VDL companies are starting to train employees themselves.
Plastics processing The projected growth in turnover for the plastics processing sector in 2016 was realised. This sector generated turnover of 73 million euro compared to 71 million euro in 2015. Investments are being made in all areas, both in machinery and in new premises. For example a new installation was purchased for drying plastics, as well as injection moulding machines. These investments further expanded our capacity. Investments have also been made in various machines in the toolmaking shop. These modern machines mean that we are now in a position to offer internal training to future toolmakers. Automation of the production process at our companies in this sector developed further. In respect of sustainability, improvements were introduced in 2016, which have made it possible to substantially reduce energy consumption.
10 11 12 The combined knowledge and skills of the various VDL plastics processing companies, together with a state-of-the-art machine fleet, mean that we are able to meet the high-quality requirements imposed by the automotive, medical, aerospace, defence and semiconductor industry.
The order book for the total plastics processing sector is currently well-filled, laying the foundations for healthy growth in 2017.
Surface treatment Turnover in the surface treatment sector in 2016 rose in accordance with the forecast, from 7 million euro in 2015 to almost 9 million euro. We further strengthened our market position in the Benelux, Germany and in particular Scandinavia. The main cause of the rise in turnover was the new projects launched in the automotive sector at the end of 2015.
In 2016 VDL Laktechniek suffered problems as a result of water damage. The effective and precise response by our workforce meant stocks were transferred to another location, thereby limiting the consequences for operations to a minimum.
In 2017 the focus will be on further optimisation and automation of our production processes (including robotisation) to allow us to respond better to changing market conditions. We also intend to further specialise in the provision of logistic services, including storage and transport, so we can continue to present ourselves as a full service partner.
Car Assembly In 2016 the Car Assembly division generated turnover of 1,368 million euro compared with 912 million euro in 2015. This turnover was mainly achieved from the production of cars, but also from the supply of press work to third parties and engineering and installation work. The year closed with a positive result.
2016 2015 euro million % euro million %
Car Assembly 1,368 100 912 100
1,368 912
Following careful preparation, production of the MINI Countryman started successfully in early November 2016. Prime Minister Mark Rutte officially launched the production line. Also in 2016, VDL Nedcar continued to build the MINI Hatch on behalf of BMW Group, which went into production in 2014. The MINI Convertible went into production in 2015. The MINI Convertible and MINI Countryman are manufactured exclusively in Born, unlike the MINI Hatch which is manufactured both in Born and Oxford. In 2016, a total of 87,609 cars were delivered compared to 57,019 in 2015
12 13 To be able to meet the growing demand, the factory switched to two-shift operation in November 2016. This step was preceded by an extensive recruitment and training programme for new employees. In total, over the past year, we welcomed 2,225 new employees, thereby raising employee numbers from 2,461 on 1 January to 4,686 on 31 December.
In 2016 VDL Nedcar continued to work on developing into a fully independent car manufacturer. There was close consultation with BMW on the future utilisation of production capacity. An active policy of acquisition is in place, for attracting new customers. A lot of attention is given on increasing utilisation of production capacity available in the press hall. In 2017 VDL Nedcar achieved ISO/TS 16949 certification. As an independent car manufacturer, VDL Nedcar will continue to adopt a flexible attitude in respect of its clients.
With a view to the future, last year, just as in the previous years, adjacent pieces of land were purchased and a series of investments were made. Together with the municipal and provincial authorities, work is underway to ensure sufficient expansion opportunities and good infrastructure access for VDL Nedcar. Together with the stakeholders, we are investigating the possibilities for integrating future growth effectively in existing spatial planning, combined with efficient and sustainable support for the infrastructure. Together with the authorities, the various projects are currently being further elaborated upon, prior to development.
In 2017 production volumes at VDL Nedcar are expected to again rise considerably compared to 2016. In March 2017 VDL Nedcar started production of the MINI Countryman Plug-In Hybrid Electric Vehicle (PHEV), and according to the plans production of the BMW X1 will be started in August 2017. These steps show that VDL Nedcar is a flexible partner for its client BMW Group. Expansion of production will bring about a further major rise in employee numbers. In 2016, new employees were recruited from the target group consisting of benefit recipients. For the longer term, too, the prospects for growth in production numbers and employment opportunities appear favourable.
During the first quarter of 2017, VDL Nedcar generated turnover of 593 million euro compared to 319 million euro in the first quarter of last year.
14 14 15 16 Buses & Coaches The Buses & Coaches division has successfully continued to improve its situation. This has to do with the recovery of the market in that more buses were sold worldwide. This is certainly true for buses and coaches used in public transport, but sales of coaches are also continuing to show positive developments. Total turnover in 2016 amounted to 437 million euro compared to 386 million euro in 2015.
The total number of buses and coaches delivered in 2016 was higher than in 2015 (1,192 as compared to 1,021). The Buses & Coaches division concluded the year 2016 in profit. Major investments are being made in the further development of electrical drive technologies, including battery and hydrogen-powered buses and coaches. The environment remains high on our agenda. In 2015 VDL Bus & Coach delivered a total of 72 large fully electrically-powered buses. The vast majority of these buses were delivered to Dutch public transport operators. Because of our excellent customer relations on the Dutch market, we were able to employ this pioneering technology for the first time on a large scale in our domestic market, and are now in a position to implement rapid improvements. A notable occurrence was the single day in December when 43 electric buses were put on the road in Eindhoven, marking the introduction of the largest operational electric bus fleet in Europe.
After experiencing a number of years in which the market for buses and coaches in Western Europe shrank slightly, over the past two years we have seen an apparent recovery of that market. Compared to 2015, six percent growth was recorded on the Western European market in 2016. VDL Bus & Coach’s market share in Western Europe in the segment for large buses grew in 2016 from 3.6 percent to 4.1 percent.
BUSES & COACHES (turnover per sector)
Coaches 39%
Public transport buses 35%
Parts & services 14%
Second-hand buses 8%
Mini & midi buses 3%
Chassis & chassis modules 1%
2016 2015 euro million % euro million %
Coaches 169 39 160 41 Public transport buses 151 35 100 26 Parts & services 63 14 66 17 Second-hand buses 35 8 41 11 Mini & midi buses 13 3 13 3 Chassis & chassis modules 6 1 6 2
437 386
16 17 A series of optimisation programmes were launched in 2016, aimed at improving effectiveness and efficiency. During the first quarter of 2017, the order book for the Buses & Coaches division rose by 12 percent to 256 million euro. VDL Groep expects its ambitions for 2017 to be achieved with a financially healthy year for its Buses & Coaches division.
Coaches In 2016, turnover in the coach sector rose from 160 million euro (2015) to 169 million euro. The number of coaches delivered also rose from 609 in 2015 to 629 vehicles in 2016. The introduction of the new Futura double decker in 2015 has resulted in numerous positive reactions giving the launch of this version a flying start. A number of large orders combined with an upturn in demand for coaches have put us ahead of our original targets. The introduction in 2016 of the Right-Hand Drive version for the English market made a major contribution to this development. The unique low fuel consumption combined with high capacity and the comfort and luxury design all go to make this double decker an important part of the Futura family.
In 2016 the Futura family was further expanded with the introduction of a ten-metre variant. With the Futura FHD2-106, VDL Bus & Coach is targeting the exclusive travel segment that offers high-comfort, luxury travel to smaller groups. Both our clients and the media have praised the performance and excellent product characteristics of this coach, and sales of this variant are developing as planned. The introduction of the ten-metre variant has further complemented the Futura product range.
In 2017 we expect to be able to continue the stable growth in our coach segment.
Public transport buses Turnover in the public transport bus sector rose considerably from 100 million euro in 2015 to 151 million euro in 2016. The number of buses delivered also rose from 412 vehicles in 2015 to 563 vehicles in 2016. Most of these deliveries were achieved in the domestic markets of the Netherlands and Belgium, with the vast majority of vehicles delivered in the Netherlands. In Scandinavia, above all in Finland, we were once again well represented and we are delighted with the sales volume achieved. We have occupied a solid position in the coach segment in Iceland for a number of years, and last year we succeeded in making a major delivery of public transport buses in that country, namely 30 Citea LLE units. Despite disappointing sales in Germany overall, we are particularly proud of a major follow-up order from Rheinbahn (Düsseldorf) for 80 Citea LLE units.
Deliveries to Dutch customers were mainly due to three large concessions for Southeast Brabant, Limburg and Southeast Friesland/the Wadden Islands. Remarkably, we delivered the majority of these buses, namely 269 diesel buses, 72 electric buses and 31 mini and midi buses, on a single day, coinciding with the launch of the new timetable on the second Sunday in December. The electric buses were put into operation at six different locations in the Netherlands, five of which were taken over by a new operator, in a new concession area. In the concession of Southeast Brabant, VDL is not only the supplier of electric vehicles but is also responsible for the energy and infrastructure. As such, VDL stands out as a full service provider for the implementation of e-mobility in city and region. As a consequence of these concession orders, we have also expanded our network of service workshops in the Netherlands.
18 Governments and transport operators are increasingly recognising the advantages of electrification in public bus transport, including zero emissions and reduced noise nuisance. In response, VDL goes beyond simply delivering buses. With increased regularity, we are full partners for our clients. Together with them we develop the optimum infrastructure and timetable, as well as advising drivers on how to drive our vehicles as fuel-efficiently as possible. We are also able to remotely track all electric buses, in order to monitor the process.
For 2017 we expect further expansion in the public transport bus sector. In April we announced plans to deliver 100 electric 18-metre articulated buses for the Amstelland-Meerlanden concession. This VDL Citea SLFA Electric unit received the prestigious international Red Dot Award in 2017. The jury particularly praised the innovative design of our articulated bus.
Parts & services During the past year VDL Parts invested in buildings and staffing. By also using the office space of the first floor means that the VDL Parts building is now ready for further growth.
To further increase turnover investments were made last year in expanding the parts departments at the various VDL Bus & Coach companies. Important advances were also achieved in efficiency and further identifying market potential. This resulted in successes during the course of the past year in the field of tenders for spare parts. VDL Parts now supplies parts to a considerable number of customers with large bus fleets in both the public and private sector.
For 2016 the focus at VDL Bus & Coach Services was placed on further professionalising our service activities. In response to the rising demand for repair, maintenance and damage repair activities in general and for electric buses in particular, changes have been made at several points in our organisation. In 2016 the workshops of VDL Bus & Coach Services once again further intensified their cooperation. Preparations for and the actual launch of the new, mainly electric buses represented a major challenge throughout the year. The establishment of VDL Bus & Coach Service Limburg with three workshops, a shared workshop in Eindhoven and the recruitment of new employees with specific knowledge, have now been completed. As a consequence, the current workshop organisation has grown to ten workshops right across the Netherlands, with a total of more than one hundred employees. These steps mean we are now ready to carry out repair and maintenance work on all new drive technologies.
Prospects for 2017 are positive. We will continue to invest in strengthening our after sales activities.
18 19 Second-hand buses Turnover in the second-hand buses sector fell from 41 million euro (2015) to 35 million euro. The total number of second-hand buses sold by VDL Bus Center amounted to 285 vehicles in 2016 compared to 511 in 2015.
The total number of second-hand coaches and mini and midi buses sold also fell from 314 to 207. This situation was mainly due to the shortage of second-hand coaches available on the market. Substantial volume availability was not achieved until the end of 2016. Due to the late arrival of these coaches in 2016, they will not be sold until 2017. Sales of second-hand public transport buses fell from 197 vehicles to 78. The unstable political and economic situations in a number of important export countries means that several potential orders have not yet been confirmed. We expect to see these orders awarded in 2017, once again resulting in a rise in the number of second-hand public transport buses sold. At the start of 2017 we will also be taking delivery of newer, attractive second-hand buses, which will contribute to higher turnover than that achieved in 2016.
In 2016 VDL Bus Center invested in expanding its network in Eastern Europe and Africa. These are both important markets for second-hand buses. We expect this move to contribute to higher numbers of second-hand buses sold in 2017 which will in turn generate increased turnover from this sector.
Mini & midi buses Turnover in the mini & midi buses sector (including police vehicles and damage repair) at 13 million euro, remained unchanged as compared with 2015. The number of vehicles delivered rose from 159 to 169. A follow-up order for MidCity buses for public transport use in Belgium has now been almost fully delivered. We will continue to invest further, in particular in Belgium, France, Italy and Sweden, with a view to increasing our market share in those countries. Alongside the public transport market we have maintained our traditionally strong position for high-quality, customer-specific mini and midi buses in the luxury travel segment. Turnover from the damage repair division rose.
Line production for vehicles for the Dutch national police has begun. The total order involves 256 crowd and riot control buses, and VDL Bus Venlo will be responsible for the conversion work. A number of tenders for the conversion and delivery of police vehicles were put out to the market.
Developments in the field of electric transport will be continued. We expect to achieve higher turnover in special (electrically powered) vehicles and projects. 2017 will be hallmarked by further investment in our sales network and the development of new innovations. The order book for the entire mini & midi bus sector is well-filled, and we expect further growth in turnover for 2017.
Chassis & chassis modules External turnover for chassis and module builder VDL Bus Chassis remained practically unchanged in 2016 compared to 2015, at 6 million euro. Deliveries of chassis and modules to bus and coach builders outside VDL Groep fell from 277 to 246 units. Compared to 2015, more complex chassis modules were delivered and fewer pre-modules. Sales generated by deliveries to sister companies within the Bus & Coach division
20 for the construction of complete vehicles rose considerably in 2016 from 967 to 1,288 modules. The total number of chassis and modules delivered therefore rose from 1,244 in 2015 to 1,534 in 2016.
Engineering activities in 2016 were hallmarked by the transition from diesel-powered vehicles to electrically powered vehicles. This took place in close collaboration with other VDL companies. This approach has resulted in a massive rise in the number of electric vehicles developed and produced at VDL Bus & Coach. Another core competence area of VDL Bus Chassis is reducing the cost of use for vehicles. Within our development projects, weight reduction, reduced maintenance frequency, reduction of diesel consumption and improving energy management are central points of focus, all aimed at further lowering the costs per kilometre. The expertise accumulated by VDL Bus Chassis in simulation, light-weight construction, driveline integration, production and assembly will help generate new market opportunities for the coming years.
In 2017 the emphasis will be placed on the transition to electrical operation. Continuous improvement based on process audits and optimisation programmes will be continued into 2017. The optimised use of welding robots, automation and design for assembly will be key areas for attention. Prospects for 2017 are good.
20 21 Electrical mobility VDL Groep has announced the ambition to become a world player in the electrification of so-called heavy‑duty mobility. VDL also aims to take up a leading position in the field of battery management systems, charging infrastructure and energy storage.
VDL Enabling Transport Solutions (ETS) is responsible for defining the form of electrical mobility within VDL Groep. This company was established in September 2015, with the aim of serving as the initial research facility for e-mobility, on behalf of VDL. VDL ETS specialises in the research, development and testing of new possibilities for mainly transport-related activities by VDL companies. For example, VDL ETS supplies the building blocks for batteries and the accompanying software to our bus and coach companies. A pair of electric articulated buses have been converted to run on hydrogen, the first stationary unit for energy storage has been installed for supplying energy to the primary electricity grid, and a number of engineering projects have been launched. These projects involve the engineering of an electric distribution truck for city distribution, assessment of an electric delivery van and a whole raft of pre-study concepts for buses, including climate control systems, energy management, drive systems, battery building blocks and noise and design studies.
Over the past year the VDL ETS team has worked from two locations, one at the Automotive Campus in Helmond, the location for prototype building and testing activities, and one in Valkenswaard (close to the VDL bus companies) where the main task is software development. We also collaborate closely with knowledge institutes, universities and universities of applied sciences on concept studies in the fields of infrastructure and smart mobility. During the course of the year these activities will be further expanded and a new building project will be launched for the new office and workshop building in Valkenswaard. The activities of the company are constantly being further expanded, based on the opportunities offered by e-mobility to the companies of VDL Groep. .
22 Finished products Turnover in the Finished products division in 2016 amounted to 511 million euro compared to 475 million euro in the previous year. Clearly, the economy is recovering. Results fell marginally. A good year is expected for the companies active in this division.
FINISHED PRODUCTS (turnover per sector)
Suspension systems 27%
Production automation systems 25%
Heat exchangers 22%
Container handling equipment 8%
Systems for the agricultural sector 6%
Cigar-making and packaging machines 5%
Sunbeds and car roof boxes 5%
Systems for the industrial sector 2%
2016 2015 euro million % euro million %
Suspension systems 138 27 129 27 Production automation systems 126 25 104 22 Heat exchangers 113 22 99 21 Container handling equipment 42 8 55 12 Systems for the agricultural sector 30 6 28 6 Cigar-making and packaging machines 26 5 26 5 Sunbeds and car roof boxes 24 5 23 5 Systems for the industrial sector 12 2 11 2
511 475
Suspension systems Total turnover in this sector rose from 129 million euro in 2015 to 138 million euro in 2016.
Suspension systems manufacturer for trailers, trucks and buses, VDL Weweler, successfully expanded its market share in Europe and the rest of the world. Above all in Europe, sales exceeded expectations. Sales numbers are approaching those achieved prior to the credit crisis in 2009. Export restrictions to Russia mean that the Eastern European market has not yet recovered to the level achieved several years ago. On the other hand, deliveries to Turkey are showing solid growth thanks to trailer production in that country. This development is expected to continue in 2017. In China, for the third year in succession, sales of
22 23 24 suspension systems from VDL Weweler have doubled. The Chinese market is taking on substantial proportions. By the end of 2017 total production capacity at VDL Weweler will be twenty percent higher than the capacity at the old location in Apeldoorn, which will be abandoned later this year. During the course of this year that extra capacity will not yet be available because the old machines have to be successively moved to the new location, itself also in Apeldoorn, before being thoroughly overhauled. The new production line is now in full production and consumes 35 percent less energy than in the old factory.
The Belgian-based VDL Weweler-Colaert is European market leader for the production and distribution of parts for parabolic spring systems and high-end parts for chassis for trucks, trailers and buses. During the course of the past year the Belgian facility has seen slight growth in its market share in the first-line assembly market. The installation of a complete new robotised production line for the rolling of parabolic springs will help further reduce the cost price and improve quality. This major investment is an essential step if the company wishes to face up to the growing pressure on prices from low-wage countries.
In 2016 the sales organisation VDL Weweler Parts successfully extended the rise in sales figures achieved over the past few years. Turnover rose by more than ten percent compared to 2015. This growth was achieved in both the after market and among the (small) trailer builders supplied by VDL Weweler Parts. To further improve national coverage in the Netherlands, new offices will be opened in the Amsterdam region during the course of the year. This will bring the total number of sales offices to six. Further growth is once again expected in 2017.
Despite the growing competition in Norway, Truck & Trailer Industry (TTI) with four sales offices in Norway, is still achieving steady growth thanks to its highly trained technical personnel. The TTI web shop is also generating more and more turnover. Cooperation between Truck & Trailer Industry and other VDL companies is starting to take on more concrete form, thereby expanding TTI’s market share. Against this background we predict further growth in 2017.
The order book for the total suspension system sector is well-filled.
Production automation systems Growth at production automation specialist VDL Steelweld in Breda once again continued in 2016. Turnover at VDL Steelweld rose in 2016 from 104 million euro to 126 million euro. A number of new orders were awarded by our customers Jaguar Land Rover, Ford, VDL Nedcar, BMW Group and Volvo. We also added several new clients to our customer base. Dozens of new jobs were created in Breda and the other VDL Steelweld offices, in 2016. In the United States offices were opened in Michigan, South Carolina and California in 2016, enabling us to offer better support to our customers on this continent. We are now hard at work implementing a series of projects with support from our offices in the Netherlands and England. In addition VDL Steelweld has branches in Germany, Sweden and China.
Good results were also achieved outside the automotive industry. Following the successful delivery of AGVs (Automated Guided Vehicles) to ECT’s container terminals in Rotterdam and PSA in Singapore, AGV activities are due to be further expanded in collaboration with VDL sister companies. Together with
24 25 VDL Containersystemen, VDL Steelweld has established the sales cluster VDL Automated Vehicles. This step will help further professionalise the AGV segment, to allow the delivery of automated guided vehicles both inside and outside ports. According to the company’s plans, a prototype will be delivered in mid-2017 to the chemical conglomerate BASF in Ludwigshafen (Germany). This hybrid vehicle can be powered either electrically or by a diesel motor, and will complete a series of routes, unmanned, in heavily populated areas. This development took VDL Groep into the finals of the Automotive Innovation Award. The innovation is a perfect example of the strategy of VDL Groep in the field of e-mobility.
The Special Products department is working closely with other VDL companies to develop and produce passenger capsules for the giant New York ferris wheel, due to be built on Staten Island.
The automotive industry is facing surplus capacity, and as a result considerable price pressure. Nonetheless, the order book for the production automation systems sector is well-filled and expectations for 2017 are positive. As well as maintaining our market position in Europe, our focus in 2017 will above all be on further growth in America and Asia. In mid-2017 the new ERP system SAP will be introduced to improve business process efficiency.
Heat exchangers The considerable fall in oil and gas prices has placed our companies active in this sector in a continuing difficult market situation. We are also seeing major rises in the prices for materials and zinc. One consequence is that investments in projects in the oil and gas sector have been cancelled or postponed. These developments have led to considerable difficulties for the VDL Klima companies in Eindhoven, Belgium and France.
Despite these market difficulties, the heat exchangers sector still showed turnover growth in 2016, from 99 million euro in 2015 to 113 million euro in 2016. This rise is above all due to the production of high- voltage masts for the Dutch market, achieved in collaboration with VDL sister companies. Specifically for this work, VDL KTI established an additional production location in Mol (Belgium). Delivery of these masts is expected to continue until early 2018.
Thanks to this order VDL KTI enjoyed a very good year, in which turnover doubled, thereby continuing the positive trend that emerged in 2015. In 2016 VDL KTI worked on a number of large orders for high- pressure heat exchangers for the American market and special heat exchangers for the Chinese market. Alongside these standard products, major orders were also received for the giant New York ferris wheel and, in collaboration with VDL ETG Projects, for bioreactors for the English market. An order for scrubbers for the shipping industry, used for cleaning exhaust gases from ships, is expected to be received imminently. VDL KTI expects 2017 to be an excellent year, given its well-filled order book.
At VDL Delmas in Berlin (Germany) turnover rose by more than twenty percent, mainly due to positive sales in the previous year. With the construction of a new office building and production halls, VDL Delmas has invested in optimising its productions over the past two years.
26 26 27 Given the unchanging low oil prices and the disappointing order book, 2017 looks to be an uncertain year for the heat exchanger sector. Our companies active in this sector will continue to go in search of new product market combinations to ensure further expansion.
Container handling equipment Turnover in the container handling equipment sector fell from 55 million euro in 2015 to 42 million euro in 2016. Our companies performed as expected. The fall in turnover is the consequence of a major incidental order awarded in 2015, which led to a sales peak in that year.
VDL Containersystemen once again enjoyed a good year. Turnover from hooklift, skipload, cable and chainlift systems delivered to our dealers rose slightly. The number of systems assembled by VDL Containersystemen itself grew explosively. In the Netherlands alone, more than five thousand systems have been delivered by the company since it was founded in 1999. VDL Containersystemen has qualified
for a CO2-reduction programme according to which all systems are produced with the lowest possible environmental burden. A number of VDL systems have been shown to be the most energy-efficient of their kind. The innovative approach to gluing the systems onto trucks earned VDL Containersystemen a nomination for the VAK Innovation Award 2016.
Turnover from spreaders grew considerably. Major orders were delivered in Europe, America and in Asia. New developments in the field of electrification and specific solutions for the American market helped further expand overall growth. The addition of AGVs (Automated Guided Vehicles) to the product range has made an important contribution to broadening the portfolio and name awareness of VDL Containersystemen.
For VDL Translift, manufacturer of innovative waste collection systems, 2016 was a year in which further mprovements were achieved in both quality and efficiency. After sales services were also further expanded. The number of waste collection systems sold rose once again in 2016 compared to the previous year. VDL Translift delivers around half of its products in the Netherlands and sells the other half abroad.
The total order book for the container handling equipment sector is well-filled and we expect further growth in turnover in 2017. The upturn in the transport sector is another indicator for turnover growth. The assembly industry, in which our companies in this sector are active, normally follows developments in the transport sector.
Systems for the agricultural sector VDL Agrotech has enjoyed a favourable year. Assisted by positive euro exchange rates and a further expansion of worldwide sales activities, turnover rose by 7 percent (from 28 million euro in 2015 to 30 million euro in 2016). Turnover rose in practically all countries with the exception of the so-called CIS countries (the former member states of the Soviet Union excluding the Baltic States) and the Middle East, which are still lagging behind due to low oil prices, political instability and continuing economic crises. The growth in turnover is mainly due to new markets, including countries in Africa and the Asia Pacific region, and the rise in sales in the worldwide dealer network. The project market continues to be highly dependent on bank credits, which certainly is proving a challenge in Eastern Europe and the emerging
28 markets. Prospects for 2017 are good, with growth in turnover expected mainly in the Asia Pacific region. Activities in drying technologies, outside the poultry sector, are expanding and will continue to show further growth, in 2017.
Cigar-making and packaging machines In 2016 VDL PMB-UVA concentrated on product innovation and the optimisation of business processes. To improve overall logistics VDL PMB-UVA relocated in early 2016 to new premises in Eindhoven, thereby reducing the physical distance between the offices and production. Overall, this will improve efficiency. In financial terms, VDL PMB-UVA enjoyed its best year since joining VDL Groep in 2013. Innovation remains the key tool in ensuring the success of VDL PMB-UVA. Providing our clients with specific high-end solutions is the key to the success of the organisation in both the short and long term. In the packaging segment, UVA Packaging responded to the shift from cardboard-based packaging to more environmentally friendly film packaging systems, with effective sealing systems. For the cigar segment, PMB Tobacco introduced a new wrapping machine that ensures substantially higher output and reliability. This innovation means that VDL PMB-UVA can now supply the fastest wrapping in its class. PMB Tobacco also adapted its conventional wrapping machine to meet the latest (safety) standards. These alterations have led to a competitive price level in combination with improved user friendliness and maintenance friendliness. The developments in both segments represent a sound basis for further growth. All in all, VDL PMB-UVA looks to 2017 with confidence.
Sunbeds and car roof boxes Turnover at VDL Hapro rose slightly in 2016, to 24 million euro. This growth was above all due to increased sales of car roof boxes and bicycle carriers. Further growth in turnover is once again predicted in 2017, a year in which VDL Hapro expects to sell more car roof boxes. Turnover should be driven by new innovations. In the second half of the year the sales launch for a new generation of sunbeds is planned, as presented in April. The new technology in these sunbeds means that the lamps can be controlled individually. As a result, light radiation can be perfectly dosed, ensuring even browning over the entire body. This new product line is also equipped with UV LED lamps, which consume less power than traditional halogen and fluorescent lamps, as well as offering a longer useful life. In 2017, VDL Hapro launched a new product group: a water filter for swimming pools that uses short-wave UV light to tackle algae and bacteria, thereby reducing the need for chlorine.
Systems for the industrial sector For VDL Industrial Products, 2016 was concluded successfully. Turnover rose by around 10 percent to 12 million euro. In the course of the year, a series of customer-specific solutions were delivered in the field of bulk handling technology, the extraction and filtration of dust and vapours. In the product group rotary valves, a number of new variants were introduced for the dosing of dry products, in a series of applications. New solutions were also developed for fire and explosion protection and VDL Industrial Products launched a collaborative venture with a manufacturer of heat source and spark detection, for preventing fire and dust explosions in installations. A qualified service department was established to offer our customers even better service in the inspection and maintenance of our systems. The company plans to introduce further focus in presenting itself as a total solution supplier for our customers, with specific attention for improved service. The sector is expected to demonstrate moderate growth in 2017.
28 29 30 New companies and activities The machinery of Melamo in Helmond was taken over by VDL Groep in March 2016. The company, which went bankrupt in 2016, was a supplier of fine mechanical metal and plastic components, welded assemblies and modules for a range of markets. The fleet of machines was transferred to VDL Industrial Modules in Helmond. In total, the move involved some 25 machines, mainly for metalworking (lathes and milling machines). The majority of the fifty employees are now employed at VDL Groep.
In July 2016 the company V-Storage was established by VDL Groep and Scholt Energy Control in Valkenswaard. This joint venture specialises exclusively in innovations in the field of sustainable energy storage. Because of the shift towards electric bus transport, opportunities for the business market have been created for both VDL as a bus and coach builder, and for Scholt Energy Control as an energy supplier. VDL Enabling Transport Solutions and Scholt Energy Services, the innovation divisions of the two companies, will for example be reusing end-of-life batteries to create large battery systems for energy storage. These batteries will be strategically recharged: any surplus (cheap) power will be stored for moments when demand is higher (and electricity is therefore more expensive). The electricity stored at favourable moments will then be used to recharge electric buses, to supply our own production locations with power, to compensate for peaks in power demand or to balance the mains frequency. V-Storage’s first energy storage system has now been installed on the premises of VDL ETG in Eindhoven. V-Storage expects the number of batteries and their use to expand rapidly, and in that way hopes to make a major contribution to the use of energy storage for electrical transport in the Netherlands.
VDL Steelweld USA was established in mid-2016 with offices near Fremont (VDL Steelweld California), Detroit (VDL Steelweld Michigan) and Spartanburg (VDL Steelweld South Carolina). The company undertakes projects in the field of robotised production automation systems for the automotive industry in the United States. From these offices VDL Steelweld will supply local support to globally active customers including BMW Group and Volvo. The years of experience accrued and the confidence of customers established in Europe mean that VDL Steelweld is now in a position to supply its services to those customers’ factories in the US. VDL Steelweld will also be working on behalf of American customers.
On 1 August 2016 VDL Groep and Indian-based Pinnacle Industries established the company VDL Pinnacle Engineering India. The company is based in Pune, India. This joint venture specialises in engineering projects for production automation and product development for the automotive industry. This includes process engineering, tool design, robot simulation and the implementation of production automation projects. In the first instance VDL Pinnacle Engineering India will be involved in the engineering of projects undertaken by VDL Steelweld for customers in India, Europe, the United States and China. In 2017 the company will also start working for other VDL companies, including the provision of support for the engineering activities of VDL Bus & Coach.
On 14 November 2016 the company VDL Bus & Coach Service Limburg was established. This company, with a workforce of twenty, carries out maintenance and repair work for public transport buses from workshops in Maastricht, Venlo and Heerlen. These workshops are intended to carry out all maintenance and repair work for the Limburg public transport concession, as part of the agreement for the delivery of 166 public transport buses.
30 31 At the end of November 2016 VDL Groep announced the takeover of the activities of the Limburg-based iron foundry Componenta with facilities in Weert and Heerlen. The takeover was officially signed on 21 December 2016. The iron foundries will continue to operate under the name VDL Castings Heerlen and VDL Castings Weert. The companies make cast parts used in trucks, earthmoving and roadbuilding machinery. These activities tie in well with the other supply activities of VDL Groep. VDL is already active in these markets and the companies share a number of common customers. Initially, 120 of the approximately 300 employees of VDL Castings were immediately taken into the service of the new company. We expect customers to start ordering more products during the course of 2017 and hope that in the future, a large proportion of the former employees can be reemployed.
Investments In 2016 VDL Groep invested 114 million euro in business premises, machinery and other equipment.
A series of lathes and milling machines, punch laser machines, metalworking machines, warehouse systems, folding machines and injection moulding machines were purchased. Investments were also made in measuring equipment and software. In total, at year end 2016, VDL Groep owned approximately 1,265,000 m2 of commercial space.
At VDL Nedcar in Born, starting in May 2016, preparations were made for the production of the MINI Countryman, which started in November 2016. A series of projects were undertaken, including alterations to the so-called unloading docks to improve the logistic process, expanding the storage halls for material, replacing the high-voltage switchgear, converting one hall in final assembly, expansion of the body shop with production cells and robots, and alterations to the test track for testing the four wheel drive MINI Countryman. Starting in August 2016, VDL Nedcar made a series of alterations to improve the overall logistic process, in preparation for the production of the BMW X1, which is due to start in August 2017. These alterations include the construction of a new 30,000 m2 logistic hall, expansion of the inspection hall by a further 2,100 m2 and expansion of the pick buffer to ensure that cars enter the final assembly hall in the correct order. A new 1,200 m2 hall was also built for unloading pressed parts to the press hall.
In 2017 a start will be made on renovating Wolfrath Castle in Born, which is located alongside the VDL Nedcar facility. Following renovation, the building will be used for meetings and as accommodation for foreign guests visiting VDL Nedcar. At the start of 2017, 61,340 m2 of land were purchased alongside the A2 motorway and adjacent to the front boundary of the VDL Nedcar site, to be used for future expansion.
At the end of 2016 new premises for VDL Fibertech Industries at the Kempisch Bedrijvenpark industrial estate in Hapert were handed over. The new premises include 11,000 m2 of production space and 1,415 m2 of office space, including canteen and changing rooms. New building work for VDL Delmas in Berlin (Germany) was also completed. The total floor area occupied by the new VDL Delmas premises amounts to 4,800 m2, of which 1,418 m2 office space and 3,400 m2 production space. In 2016 the offices of VDL KTI in Mol (Belgium) underwent total renovation.
32 The renovation and expansion of the existing premises at VDL ETG Eindhoven and VDL ETG Almelo are currently fully underway. The total project will be carried out in three phases: offices, production halls and cleanrooms. The new office space for both locations has now been completed, and phase two started in October 2016. At VDL ETG Eindhoven work is underway on a linking structure occupying 1,900 m2, housing office space, washrooms and changing rooms. The production halls will be expanded by 14,000 m2, 8,200 m2 of which will be cleanroom facilities, and 5,800 m2 warehousing. VDL ETG Almelo will acquire an additional 8,600 m2 of production hall, of which 4,200 m2 will house cleanrooms, and 4,400 m2 warehousing. Handover of the overall project is planned for the end of 2017.
Groundwork for the expansion of the head office of VDL Groep in Eindhoven was started in early 2017. A new identical building will be erected alongside the existing premises. Underground parking will also be provided, with space for 145 cars. We expect to be able to move into the new offices in 2018. Renovation of the existing tower will be started once the new tower is completed. Afterwards the two towers will be linked together to form a single unit.
A start was made in early 2017 on the groundwork for the construction of new premises for VDL Kunststoffen in Nederweert. The new building consists of 15,000 m2 of production space and 2,000 m2 of office space including canteen and washing facilities. The premises is due to be handed over at the end of 2017.
In addition to the current construction activities, a series of other projects were launched in 2017. At VDL Steelweld in Breda, a new hall is to be built for special projects; in Valkenswaard, VDL Bus Modules will be acquiring a new warehouse, and the existing production space at VDL ETG Projects on the Hurksestraat in Eindhoven is due to be expanded. For VDL Enabling Transport Solutions an existing hall on the premises of VDL Bus Valkenswaard will be demolished and replaced by a new building. The production hall at VDL Bus Venlo is also due to be expanded. These projects are expected to be concluded by the end of 2017.
In 2017 we expect to invest around 192 million euro in new buildings, machinery and the optimisation of production processes and transport equipment.
32 33 34 Employees The number of employees at VDL Groep has risen from 10,623 at year end 2015 to 13,356 at year end 2016, a rise of 26 percent. This growth was mainly the result of the production of the MINI Countryman at VDL Nedcar. New employees were also recruited in collaboration with the employee insurance agency UWV, municipalities and the province. In 2016, VDL Nedcar welcomed 2,225 new employees. Within the other VDL companies the number of employees rose by 508.
EMPLOYEES (as of 31 December, including temporary employees)
14,000
13,000
12,000
11,000
10,000
9,000
8,000
7,000
6,000
5,000
2012 2013 2014 2015 2016
EMPLOYEES BY GEOGRAPHICAL AREA (as at 31 December 2016, including temporary employees)
Netherlands 11,257 (84%)
Belgium 926 (7%)
Other European countries 572 (4%)
Other countries worldwide 601 (5%)
Total number of employees 13,356
EMPLOYEES BY DIVISION (as at 31 December 2016, including temporary employees)
Subcontracting 4,652 (35%)
Car Assembly 4,686 (35%)
Buses & Coaches 2,166 (16%)
Finished Products 1,703 (13%)
Head office in the Netherlands and Belgium 149 (1%)
Total number of employees 13,356
34 35 We would like to express our huge appreciation for the dedication and involvement of our employees over the past year. Partly thanks to their excellent cooperation, we achieved the highest turnover in the history of VDL Groep in 2016.
Worker participation In the Netherlands and Belgium, the employees at most VDL operating companies are represented by their own Works Council. At group level there is a participation structure in the Netherlands that is given form by the Joint Works Council (JWC).
The JWC includes representatives of the various Dutch VDL companies. In 2016 the JWC met with a member of the Board of Management five times, including an annual meeting with a representative of the Supervisory Board. An extra meeting was also held to meet new members of the Board of Management. Consultations with the JWC can be characterised as open and constructively critical. Recurring themes during JWC meetings are the finances and market trends per division and related sectors. The following additional topics were also discussed: smoking policy, the employment expenses scheme in particular in relation to the trade union contribution and bicycle plan, the updating of the company regulations, collective days’ holiday (the calculation and deduction of days during sickness absence), holiday hours, debt counselling, variable working hours and the whistle blower’s scheme. The Works Council was also naturally involved in the appointment of new members of the Board of Management.
As is the case every four years, social elections were organised in Belgium, in 2016. Each VDL company with more than 50 employees is required to elect a committee for prevention and protection. For each VDL company with more than 100 employees, elections were organised for a new Works Council. For the rest of the year, cooperation was conducted with the newly elected members in a constructive manner. On a national scale 2016 was an enervating year. In 2016 the trade unions protested against government policy in the face of revised measures on pensionable age and benefit payments for people unable or partially unable to work. Within the Works Councils socio-economic issues are recurring important topics of discussion. The theme ‘working longer’ remains particularly current.
36 Corporate social responsibility VDL Groep views corporate social responsibility as an integral part of its overall business policy. As a family business, VDL Groep has traditionally maintained strong ties with its living and working environment. For us it is no more than logical that we intend to contribute to the sustainable development of our society. We do this by identifying a sound balance between people (our employees), planet (the environment) and profit.
Sustainable building and recycling In respect of the environment, VDL Groep operates a sustainable policy. Implementing energy saving and waste prevention plans and the recycling of raw materials are constant areas of attention. We build company premises under our own management. Our focus for all new building and renovation projects is on sustainable material use, lower energy consumption and reduced environmental burdens. This is achieved for example through smart design and the use of much daylight in factories, the use of LED lighting, the installation of solar panels, the use of geothermal heating and the use of residual heat from production processes for heating premises. For the new premises of VDL Fibertech Industries in Hapert, the GPR certificate was obtained in 2016 (Municipal Practice Guidelines for sustainable building, grade: 8). At VDL Nedcar in Born, paint particles are for example captured in the paint shop, and destined for reuse.
Sustainable living environment Although our role as a supply company means that the contribution by VDL to a variety of products is often concealed, we manufacture machines and products that deliver a real contribution to a better living environment. This is for example achieved in the automotive industry (electrical driving and battery technology), healthcare (such as devices for cancer treatment), science (exploring the universe), material use and waste reduction. We elaborate and adapt current design to enhance and improve the makeability of these machines and products. Through smart design and advanced production methods, we provide added value to our customers and create employment opportunities for the manufacturing industry. Other examples of sustainable products (jointly) developed and manufactured by VDL are electric buses, the production of parts for an e-bike, a buggy produced from recycled plastic, a production line for producing sustainable building materials from plant residue, a machine for converting waste into biogas and the production of sustainable Dopper drinking bottles.
Health and safety VDL Groep is a family business and people are central to our policy. After all, our employees are the very core of our business. We attach huge importance to offering our employees a pleasant, safe and healthy workplace, with opportunities for further development. Against that background, additional attention was focused in 2016 on reducing physical burdens at work and the safe use of machines and hazardous substances. Major steps were also taken in the implementation of the 5S method at a number of companies. This method is based on order and tidiness in the factory. Employee wellbeing is a high priority at VDL. We have our own disability case managers in the Netherlands to establish a plan for each employee’s integration from day one.
Education and development VDL Groep offers internship and graduation placements at all levels. We also operate in-house training courses. In collaboration with teaching institutions, VDL has organised its own working learning pathway
36 37 programmes. In 2016, for example, the first eight students from our internal programme qualified as plastic operators. The training programme for assembly workers is also running smoothly. In November 2016 VDL launched a one-year internal training for toolmakers. Since last year, we have also offered a four-year higher professional education study programme in engineering and mechanical engineering. The study programme for robot programmers will also be started in 2017. In-house training has proven highly effective in establishing a perfect match with requirements in practice. Internal job transfers are a spearhead of our policy, with a view to retaining the continuity and culture of VDL. For young ambitious employees, a platform exists (YVE - Young VDL Employee) in which they have an opportunity to meet one another during an annual meeting, to exchange knowledge and experiences in a stimulating but informal setting.
Social responsibility We demonstrate our social responsibility in various ways, for example through close cooperation with educational institutions and government, and by sponsoring a range of local and national sporting, cultural and social events and associations. Examples include sponsoring of PSV, FC Eindhoven, the Eindhoven Marathon, Indoor Brabant and the Noordbrabants Museum. To boost enthusiasm among young people for the technical sector we support a wide range of technology promotion activities, including the Ontdekfabriek (Discovery Factory) in Eindhoven and the Dutch Technology Week. Elsewhere, we collaborate with the student teams FAST (bus using formic acid) and InMotion (electric racing car). We also take part in the 'Vakkanjer' professional skills competition and the Ir. Noordhof Prize. In 2016 Frans Bax of VDL Gereedschapmakerij was elected Best Craftsman in the category Metal and Quinten Theunisz of VDL ETG won the award for Most Talented Junior Craftsman. In 2016 VDL Foundation donated to the disabled team at T.C. De Snelle Sprong, Stichting Wensulance, Stichting Maasveld, Ronald McDonald Kindervallei and Stichting Vrienden Hospice Bronnerhof. VDL Foundation was launched in 2014 with an amount of 250,000 euro, which over a period of three years has been donated to a range of charity causes. In 2016 the decision was taken to continue VDL Foundation. The foundation continues to focus on social projects in the field of care and welfare, no longer just in Limburg, but also in other parts of the country.
Innovation Overall policy at VDL Groep is focused on the continuous improvement and innovation of products and production processes. With that in mind, we are hard at work every day employing and developing the very latest technological capabilities with a view to strengthening our position in a competitive global market. We recognise innovation as an essential element of our policy. Creativity, daring and craftsmanship are the key elements.
In 2016 VDL Groep spent 90.5 million euro on research and development (R&D) and a total of 890 employees were involved in R&D-related activities. VDL Groep is one of the most innovative companies in the Netherlands, according to the R&D Top 30 companies for 2017, published by the magazine Technisch Weekblad. This makes VDL Groep one of the most innovative family-owned companies in the Netherlands. To make this possible, we as a family company continue to invest a large share of our profit in the business each year.
38 38 39 Product and process innovation Increasingly, our Subcontracting companies are involved at an early stage in co-developing their products, together with their clients. We can offer added value by employing our knowledge in the field of materials, production, assembly and supply chain management. This shift is taking us from ‘build to print’ and ‘build to specifications’ via ‘build to requirements’ (by adding additional specifications and solutions) until we eventually arrive at ‘build to roadmap’ (full service through to manufacture including innovations added for each client).
For our Car Assembly division 2016 was hallmarked by the development of alterations to the production line so that the third vehicle type, the MINI Countryman, could be produced at VDL Nedcar. Much work was carried out over a period of months in preparing the factory for the production of the BMW X1, which is due to start in August 2017. Assembly cells were added to existing production lines, at which car components can be assembled. Elsewhere, robots were reprogrammed. Complexity of the logistic process in the factory has grown since parts for the BMW X1 also have to be stored and presorted in Born.
In 2016 the Buses & Coaches division successfully introduced 43 fully electric city buses in the Eindhoven region. As a consequence, VDL Groep’s domestic market is now home to the largest operational fleet of electric buses in Europe. These buses emit no harmful substances and make far less noise than regular buses. The buses are constantly recharged to ensure sufficient operating range for deployment throughout the day.
Within the Finished Products division, collaboration between VDL Containersystemen and VDL Steelweld has resulted in the continued development of the Automated Guided Vehicle (AGV), which is capable of unmanned operation in a manned environment. The modular vehicle assembly was adapted so that a certified level of safety can be achieved through the smart integration of computers, cameras, sensors and scanners. In July 2017 the first of these vehicles will be commissioned at the German chemical group BASF in Ludwigshafen. The AGV was nominated as a finalist in the Automotive Innovation Award. This vehicle ties in seamlessly with the ambition of VDL Groep to become the leading specialist in the field of electrification of heavy-duty vehicles. VDL PMB-UVA also introduced innovative packaging machines with more options for reclosibility of the bag and new, faster cigar-making machines. VDL Weweler launched a new type of suspension system on the market, that offers broader functionality than the conventional suspension type. The latest new spring is wider, thereby eradicating the need for fasteners for clamping the spring into position.
Brainport Region Eindhoven The head office of VDL Groep is based in Brainport Region Eindhoven. This top technology region is an excellent home base for our company. In cooperation with educational institutions, government, other companies and customers we are able to realise high-tech products that are unique in the world. In 2016 Brainport Region Eindhoven was designated the country’s third mainport by the Dutch government. The region wishes to cash in on this new status in 2017. VDL Groep continues to support this aim.
40 Strategy VDL Groep aims for controlled development, in which the control of the organisation and the maintenance of the financial position are the main considerations. The policy of VDL Groep is aimed at continuous improvement of its competitive position. An essential aspect of this is the analysis and control of costs. VDL Groep also endeavours to maintain the highest level of quality within all its subsidiaries. The investments are therefore geared towards the renewal, improvement and expansion of the product range and the production facilities. In addition, a priority in our personnel policy is to ensure internal promotion possibilities for employees.
VDL Groep strongly believes in the importance of continuous manufacture in Western Europe, in a competitive manner. Through our investments in solid professional skills, as well as in robotisation and automation, we aim to continuously improve our competitive position in the international market. In addition, our industrial activities in Eastern Europe and Asia enable us to respond to the specific wishes of our customers in terms of production in those regions. As a result of our sales branches in various countries and our extensive network of importers and agencies, we are able to sell our products worldwide. Despite the size of VDL Groep and the increasingly international character of the company, VDL is and will remain a one hundred percent family business. This offers numerous advantages, such as rapid decision making and a total focus on the long-term.
Management and supervision VDL Groep is subject to the Act on Management and Supervision (Wet bestuur and toezicht), which regulates the structure of management and supervision in public and private limited liability companies. We strive to establish long-term relationships with employees, with a view to retaining our company culture. VDL Groep considers the capacity of the individual, with the aim of placing the right person in the right place, irrespective of gender, age, nationality or background.
Wherever possible, we attempt to take account of a balanced distribution between men and women in the Supervisory Board and Board of Management, based on our shared belief that diversity in the broadest sense of the word is to the benefit of the organisation. Almost ten percent of our 13,356 employees in 2016 were women. We will of course continue to investigate the possibilities for placing more women in more positions in the future.
In the year under review, the Board of Management at VDL Groep consisted of eight people. After a period of service of 31 years, Rini Vermeulen, member of the Board of Management, retired on 1 January 2016. On that same date, Pieter, Jennifer and Willem van der Leegte joined the Board of Management. Co-owner Wim van der Leegte stood down as Chairman of the Board in November 2016, after his 50th anniversary as Chairman, and on 1 November joined the Supervisory Board.
40 41 Prospects Partly thanks to excellent internal cooperation, VDL Groep succeeded in improving its performance on many fronts in 2016 compared to 2015. Broad, stable foundations were laid on which we aim to build further, in 2017. Turnover in the first quarter is promising, rising from 792 million euro in 2016 to 1.145 billion euro in 2017. The order book (excluding VDL Nedcar) also grew considerably compared with the first quarter of 2016, from 796 million euro to 825 million euro. In all four divisions, there is growth. The diverse nature of our activities ensures that risks are well spread.
All in all, 2017 looks to be another good year for VDL Groep. The expectation is that combined turnover will amount to around 5 billion euro. We also expect the number of employees and the profit to grow. We expect to invest 192 million euro in 2017. On the basis of the current liquidity position combined with expected operational cash flow in 2017, there is no external financing requirement. For the risk policy in respect of financial instruments, consult page 62. We have every confidence in the dedication, knowledge, skills and flexibility of our workforce to make this another successful year; a year in which we will once again strive to expand our position abroad by delivering to more countries. We will also continue to strengthen our own organisation.
Eindhoven, 10 April 2017
The Board of Management,
Willem van der Leegte (Chairman) Pieter van der Leegte Jennifer van der Leegte Jan Karssen Wim Maathuis Jan Mooren Theo Toussaint Paul van Vroonhoven
42 42 43 44 REPORT OF THE SUPERVISORY BOARD
We are delighted to present to the shareholders for adoption the annual report for 2016, drawn up under the authority of the Board of Management. The annual accounts contained in the report were audited by Govers Accountants in Eindhoven and an approved statement was issued. We subsequently approved the annual accounts.
We propose that the shareholders adopt the annual accounts and discharge the Board of Management and the Supervisory Board for the policy implemented and the supervision maintained in the financial year 2016.
In 2016 the Supervisory Board convened five times in the presence of the Board of Management. Members of the Board met regularly face to face with members of the Board of Management and the Chairman. The Supervisory Board convened on one occasion in the absence of the Board of Management, with a view to discussing the performance of the Supervisory Board itself, its individual members and the Board of Management. The normal annual consultation took place with the external accountant, during which the opportunity was taken to discuss the summary of the audit findings, the accountant’s report, the accounting system and the financial administrative organisation of the group. Members of the Supervisory Board each year attend a meeting of the Joint Works Council. Once again this year, the Supervisory Board made working visits to several VDL companies.
Since 1 November 2016 the Supervisory Board has consisted of five members. On 1 November 2016 Wim van der Leegte stepped down as President of VDL Groep and joined the Supervisory Board. No special committees have been appointed within the Supervisory Board.
During all meetings the operation and financial state of affairs compared to the budgets and other targets for all individual companies and of the divisions to which those companies belong, were discussed in detail. The discussions included the outline of strategic policy, the investment and acquisition policy, the development of the operating result, the internal management and control system of the company, social policy, the organisation and development of human resources and management developments. During all meetings, intensive discussions were also held with the Board of Management concerning the further expansion of VDL Nedcar and the relationship with BMW Group. Developments within the Buses & Coaches division were also regularly discussed. Once again in 2016, VDL Groep achieved an excellent result. Both turnover and profit and employee numbers continued to rise. Further explanatory notes are provided to the development of turnover and result in the report from the Board of Management.
We would like to express our particular appreciation to the Board of Management, the Joint Works Council and all employees for the achieved result and the dedication demonstrated in 2016.
Eindhoven, 10 April 2017
The Supervisory Board,
Louis Deterink (Chairman) Theo van Deursen Arie Kraaijeveld Wim van der Leegte Lau Pas
44 45 AUDITOR’S REPORT
Statement by independent accountant
To: the Shareholders and Management of VDL Groep B.V.
Our opinion The abbreviated annual accounts 2016 (hereinafter ‘the abbreviated annual accounts’) of VDL Groep B.V., Eindhoven, are derived from the audited annual accounts 2016 of VDL Groep B.V.
In our opinion, the abbreviated annual accounts, in all materially-relevant aspects, are consistent with the audited annual accounts of VDL Groep B.V. for 2016, and comply with the principles as applied in the explanatory notes.
The abbreviated annual accounts consist of: 1. the consolidated balance sheet as at 31 December 2016; 2 the following summaries for 2016: the consolidated profit and loss account and the statement of source and application of funds; 3. the accompanying explanatory notes.
Abbreviated annual accounts The abbreviated annual accounts do not contain all explanatory notes as required in accordance with Book 9 of the Netherlands Civil Code 2. Inspection of the abbreviated annual accounts can therefore not take the place of inspection of the audited annual accounts of VDL Groep B.V. and our Auditor’s report.
The audited annual accounts and our Auditor’s report We have issued a positive opinion on the audited annual accounts for 2016 of VDL Groep B.V. in our Auditor’s report dated 10 April 2017.
Responsibilities of the Board of Management and Supervisory Board for the abbreviated annual accounts The Board of Management is responsible for compiling a summary of the abbreviated annual accounts in accordance with the principles as explained in the explanatory notes. The Supervisory Board is responsible for supervising the process of financial reporting of the company.
Our responsibilities Our responsibility is to issue an opinion as to whether the abbreviated annual accounts, in all materially-relevant aspects, are consistent with the audited annual accounts, on the basis of our work undertaken in accordance with Dutch law, including Dutch Standard 810 ‘Assignments to report on abbreviated financial summaries’.
Eindhoven, 10 April 2017
Govers Accountants / Adviseurs Rudi van den Heuvel RA
46 VDL GROEP ANNUAL ACCOUNTS 2016
46 47
CONSOLIDATED BALANCE (x 1,000 euro)
Assets 31 December 2016 31 December 2015
Fixed assets
Intangible fixed assets Goodwill 3,437 4,107
Tangible fixed assets Buildings and land 535,560 504,404 Machinery and installations 165,322 156,015 Other fixed assets 60,455 53,265
761,337 713,684
Financial fixed assets Participations 50,614 44,849 Other financial fixed assets 6,758 6,466
57,372 51,315
Current assets
Stocks Raw materials and consumables 169,812 141,159 Work in progress 245,987 202,381 Finished products and commodities 100,160 74,186
515,959 417,726
Accounts receivables Trade debtors 481,780 359,162 Taxes 1,122 1,472 Other receivables and accrued income 21,240 9,484
504,142 370,118
Cash at bank and in hand 52,932 126,158
1,895,179 1,683,108
48
Liabilities 31 December 2016 31 December 2015
Group capital
Shareholders’ equity 1,125,774 1,017,179
Provisions
Pension provisions 1,085 1,277 Taxation provisions 15,315 15,270 Warranty provisions 33,405 28,270 Other provisions 28,330 35,678
78,135 80,495
Long-term liabilities
Debts to credit banks 41,161 49,581 Negative goodwill 3,670 5,301
44,831 54,882
Current liabilities
Debts to credit banks 13,882 9,000 Projects in progress 76,714 85,450 Debt to suppliers 296,495 214,254 Taxes and social security contributions 81,941 56,600 Other debts and deferred liabilities 177,407 165,248
646,439 530,552
1,895,179 1,683,108
48 49 CONSOLIDATED PROFIT AND LOSS ACCOUNT (x 1,000 euro)
2016 2015
Invoiced turnover 3,032,133 2,522,070
Changes to projects in progress 8,737 44,079 Inter-company trading 2,063 665 Other operating income 28,116 17,118
Total operating income 3,071,049 2,583,932
Costs of raw materials and consumables 1,746,864 1,414,328 Subcontracted work and other external costs 396,939 347,470 Salaries and wages 543,446 472,518 Social security contributions and other personnel costs 125,241 113,515 Depreciation of (in)tangible fixed assets 66,443 61,198 Other operating costs 4,428 7,722
Total operating costs 2,883,361 2,416,751
Operating profit 187,688 167,181
Financial expenses -2,493 -4,590
Profit on ordinary activities 185,195 162,591
Profit on non-consolidated shareholdings 9,018 1,153
Profit before tax 194,213 163,744
Tax -44,642 -38,338
Net profit after tax 149,571 125,406
50 STATEMENT OF SOURCE AND APPLICATION OF FUNDS (x 1,000 euro)
2016 2015
Source of funds
Profit appropriation 149,571 125,406 Depreciation (in)tangible fixed assets 66,443 61,198 Changes to consolidated participations 0 4,227 Changes to non-consolidated participations 0 3,720 Changes to other financial fixed assets 0 3,162 Long-term loans taken up 861 61,101 Changes to provisions 0 8,675
216,875 267,489
Application of funds
Investments minus desinvestments 112,993 124,259 Changes to other financial fixed assets 261 0 Repayment on long-term loans 10,912 64,479 Changes in provisions 2,390 0 Changes to consolidated participations 433 0 Changes to non-consolidated participations 5,766 0 Other changes in equity 40,976 33,121
173,731 221,859
Changes in working capital 43,144 45,630
50 51 PRINCIPLES FOR VALUATION AND DETERMINING THE RESULT
GENERAL EXPLANATORY NOTES
Activities The activities of VDL Groep B.V. - located at Hoevenweg 1 in Eindhoven - and its subsidiaries consist of: • Subcontracting division: metalworking, mechatronic systems and system supply, plastics processing and surface treatment; • Car Assembly division: the production of passenger cars for third parties; • Buses & Coaches division: chassis & chassis modules, coaches, public transport buses, mini & midi buses, special vehicles and second-hand buses; • Finished Products division: suspension systems for the trailer and truck industry, heating, cooling and air technical installations, production automation systems, installations for the oil, gas and petrochemical industry, systems for the agricultural sector, sunbeds, car roof boxes, container handling equipment, waste collection systems, cigar‑making and packaging machines, components for bulk handling and extraction installations, and systems for explosion and fire protection.
Sales are made in the Netherlands and abroad, whereby the countries of the European Union represent the most important sales market.
System change For the valuation of buildings and land used for business purposes, VDL Groep B.V. employed the replacement value as outlined in the Current Value Decree. As a consequence of a law change, this valuation principle is no longer permitted (article 1 paragraph 2 BAW) as a result of which VDL Groep B.V. has implemented a system change.
As from 1 January 2016, VDL Groep B.V. values its buildings and land used for business purposes according to historical cost price. VDL Groep B.V. makes use of the transition ruling outlined in RJ 212.8 which facilitates prospective processing. As a result, the book value as at 1 January 2016 on the basis of replacement value was taken as the underlying value for the historical cost price. The existing revaluation reserve on the date of transfer is released upon realisation, in other words through depreciation or sale in future periods.
As a consequence of the described transition ruling, this system change has no impact on the shareholder’s equity as at 1 January 2016 and the result for 2016. In addition, this system change has no impact on the comparative figures.
Estimates To make it possible to apply the principles and rules for drawing up the annual accounts, it is necessary that the management of VDL Groep B.V. prepares a judgement on various issues, and that the management makes estimates that could prove essential for the amounts contained in the annual accounts. If necessary for the degree of insight required in article 2:362 paragraph 1 of the Netherlands Civil Code, the nature of these judgements and estimates, including the accompanying assumptions, is contained in the explanatory notes to the relevant items in the annual accounts.
52 Consolidation In the consolidated annual accounts of VDL Groep B.V., the financial details are accounted for, for the group companies and other legal entities over which predominant control can be exercised or over which central management is undertaken. Group companies are legal entities over which VDL Groep B.V. can directly or indirectly exercise predominant control, since it holds the majority of the voting rights or in any other way can control the financial and operational activities. This also takes into account potential voting rights that can be exercised directly on the balance sheet date.
The group companies and other legal entities over which predominant control can be exercised or over which central management is undertaken are 100% accounted for in the consolidation. The third party share of group equity and in the group result is listed separately. Intercompany transactions, intercompany profits and mutual receivables and liabilities between group companies and other legal entities contained in the consolidation are eliminated, in as much as the results are not realised by transactions with third parties outside the group. Unrealised losses on intercompany transactions are also eliminated, except in the case of extraordinary downward value adjustment. Principles of valuation of group companies and other legal entities contained in the consolidation have where necessary been adjusted to comply with the applicable valuation principles for the group.
For the companies included in the consolidation, refer to the list of participations as contained in other details.
Related parties All legal entities over which predominant control, shared control or significant influence can be exercised are identified as related parties. Legal persons capable of exercising predominant control are also identified as related parties. The members of the Board under the Articles of Association, other key officers in the management of VDL Groep B.V. and the parent company of VDL Groep B.V. and close relatives are related parties.
Significant transactions with related parties are explained in as much as not entered into in accordance with the normal market conditions. Of these transactions, the nature and scale of the transaction and other information necessary for providing sufficient insight is provided.
Acquisitions and disposal of group companies From the date of takeover, the results and identifiable assets and liabilities of the acquired company are accounted for in the consolidated annual accounts. The date of takeover is the moment at which predominant control can be exercised over the company in question. The acquisition price consists of the monetary amount or equivalent agreed for acquisition of the acquired company plus any directly attributable costs. If the acquisition price is higher than the net amount of the fair value of the identifiable assets and liabilities, the excess (as goodwill) will be capitalised as intangible fixed assets. If the acquisition price is lower than the net amount of the fair value of the identifiable assets and liabilities, the difference (negative goodwill) will be accounted for under accrued liabilities. The companies involved in the consolidation will continue to be accounted for in the consolidation up to the moment at which they are sold; deconsolidation will take place at the moment the predominant control is transferred, or the participations no longer fulfil the criteria of group companies.
52 53 GENERAL PRINCIPLES
General The consolidated annual accounts were prepared in accordance with the statutory provisions in Part 9 Book 2 of the Netherlands Civil Code and the clear statements from the Guidelines for annual accounting, issued by the Dutch Accounting Standards Board.
Assets and liabilities are generally valued at acquisition price or manufacturing cost or current value. If no specific valuation principle is stated, valuation is made according to acquisition price.
Comparison with previous year The principles of valuation and determination of result remain unaltered as compared with the previous year, with the exception of the applied system change as outlined in the relevant paragraph.
Foreign currencies Items in the annual accounts of the group companies are valued taking account of the currency of the economic environment in which the group company primarily undertakes its business activities (the functional currency). The consolidated annual accounts are prepared in euros; this is both the functional and presentation currency of VDL Groep B.V. Transactions in foreign currencies during the reporting period are reflected in the annual accounts at the exchange rate on the balance sheet date.
Monetary and non-monetary assets and liabilities in foreign currencies are converted into the functional currency at the exchange rate on the balance sheet date. Any exchange rate differences arising from the settlement and conversion are credited or charged to the shareholders’ equity. Conversion differences on long-term intragroup loans that effectively represent an expansion or reduction of the net investment of foreign participations are credited or charged directly to the shareholders’ equity.
Assets and liabilities, and income and expenditure for group companies contained in the consolidation with a functional currency other than the presentation currency, are converted at the exchange rate on the balance sheet date. Goodwill and the adjustments to fair value of identifiable assets and liabilities are viewed as a component of these group companies and are also converted at the balance sheet date at the exchange rate on the balance sheet date. The resultant exchange rate differences are credited or charged directly to the shareholders’ equity.
Operational leasing Lease contracts may exist within the company, whereby a large proportion of the advantages and disadvantages relating to ownership do not lie with the company. These lease contracts are accounted for as operational leasing. Obligations arising from operational leasing are accounted for on a straight-line basis in the profit and loss account over the term of the contract, taking account of payments received from the lessor.
Financial instruments The group companies listed under financial fixed assets, in as much as relating to the trading portfolio or equity capital instruments outside the trading portfolio, and derivatives with an underlying stock exchange quoted value are valued at fair value. All other financial instruments contained in the balance sheet are valued at (amortised) cost price.
54 Fair value is the amount for which an asset can be traded or a liability can be settled between parties well informed on the issue, who are willing to make a transaction and who are independent of one another. If a reliable fair value cannot immediately be identified, the fair value is approached by deriving this value from the fair value of the individual component or of a similar financial instrument, or using valuation models and valuation techniques.
Upon first inclusion in the balance sheet, derivatives are valued at fair value. Any subsequent valuation of derived financial instruments (derivatives) will depend on whether the underlying basis for the derivative is stock exchange quoted or not. If the underlying basis is stock exchange quoted, the derivative will be included at fair value. If the underlying basis is not stock exchange quoted, the derivate will be accounted for at cost price or market value, whichever is lower. The method of accounting for value changes of the derived financial instrument will depend on whether hedge accounting is applied to the derived financial instrument or not.
VDL Groep B.V. applies hedge accounting. At the moment of entering into a hedge relationship, this is documented by the company. By means of a test, the company periodically assesses the effectiveness of the hedge relationship. This may be achieved by comparing the critical characteristics of the hedge instrument with those of the covered position or by comparing the change in fair value of the hedge instrument and the covered position.
VDL Groep B.V. applies cost price hedge accounting for interest swaps that ensure that specific variable interest rate liabilities are converted into fixed interest loans. The ineffective share of the value adjustment of the interest swaps is accounted for in the profit and loss account, under financial income and expenses. At year end 2016, there were no more interest swaps.
VDL Groep B.V. also applies cost price hedge accounting on currency futures contracts to provide coverage for its future transactions in foreign currencies. If applicable, the ineffective share of the value adjustment of the currency futures contracts is accounted for in the profit and loss account under financial income and expenses.
VALUATION PRINCIPLES FOR THE BALANCE SHEET
Fixed assets
Intangible fixed assets The intangible fixed assets are valued at acquisition price less depreciation. Account is taken of extraordinary downward value adjustments; this is the case if the book value of the asset (or of the cash flow generating unit to which the asset belongs) is higher than the realisable value of the asset.
To determine whether there is an extraordinary downward value adjustment for the intangible fixed asset, reference is made to the paragraph concerning extraordinary downward value adjustments for fixed assets.
Goodwill arising from acquisitions and calculated in accordance with the paragraph on depreciations on aquisitions and disposal of group companies will be activated less straight-line depreciation during the estimated future useful life (5-10 years).
54 55 Tangible fixed assets As from 1 January 2016, buildings and land used for business purposes are valued at historical cost price. Hereby use is made of the transition ruling as outlined in RJ 212.8, as a result of which the current value as at 1 January 2016 serves as the starting point for the historical cost price. Straight-line depreciation is applied, taking account of the estimated useful life and any extraordinary downward value adjustment of the assets in question. There is no depreciation on land. In the revaluation of buildings arising from the transition ruling, account has been taken of deferred taxation of 15%. Account was taken of the extraordinary downward value adjustment expected on the balance sheet date. To determine whether a tangible fixed asset is subject to extraordinary downward value adjustment, reference is made to the paragraph on extraordinary downward value adjustments on fixed assets.
The other tangible fixed assets are valued at purchase price or manufacturing price, including directly attributable costs, less straight-line depreciation, taking account of the estimated useful life and extraordinary downward value adjustments. The manufacturing price consists of the purchase costs for raw materials and consumables and costs directly attributable to the manufacture, including installation costs.
For obligations for recovery following the end of use of the assets (dismantling costs), a provision will be established. This will be accumulated during the useful life of the asset.
Grants on investments are deducted from the acquisition price or manufacturing costs for the asset to which the grants relate.
The expected useful life per category is: Buildings : 33 year Renovations and facilities : 5 - 20 year Machines and installations : 5 - 10 year Other fixed business assets : 5 - 7 year
Financial fixed assets Participations over which decisive influence can be exercised are valued according to the change in assets method (net asset value). Decisive influence is assumed wherever 20% or more of the voting rights can be cast.
The net asset value is calculated according to the principles applicable for these annual accounts; for participations about which insufficient details are available for application of these principles, the valuation principles for the participation in question are assumed.
If the valuation of a participation according to the net asset value is negative, this participation will be valued at zero. If and in as much as VDL Groep B.V. in this situation fully or partially secures the debts of the participation, or has the clear intention to enable the participation to pay its debts, a provision will be made for this purpose.
The first valuation for purchased participations in based on the fair value of the identifiable assets and liabilities at the moment of acquisition. For subsequent valuation, the principles are applied that apply to these annual accounts, assuming the value at first valuation.
Participations over which no decisive influence can be exercised are valued at purchase price. In the event of extraordinary downward value adjustment, valuation will take place at realisable value. Downward value adjustment is charged to the profit and loss account.
56 Receivables included in the financial fixed assets are initially valued at fair value less any provisions considered necessary. Subsequently, these receivables are valued at amortised cost price.
Deferred tax receivables are established for offsettable fiscal losses or for offsettable temporary discrepancies between the value of the assets and liabilities according to fiscal regulations on the one hand and the valuation principles employed in these annual accounts on the other, on the understanding that deferred tax receivables are only established in as much as it is probable that there will be future fiscal profit, against which temporary discrepancies can be set off and losses can be compensated.
The calculation of deferred tax receivables will take place according to the tax rates applicable at the end of the reporting year or according to rates applicable in coming years, in as much as already laid down in law.
Deferred tax receivables are valued at nominal value.
Extraordinary downward value adjustment of fixed assets On each balance sheet date, the company determines whether there are indications that a fixed asset may be subject to an extraordinary downward value adjustment. If such indications are present, the realisable value of the asset is determined. If it is not possible to determine the realisable value for the individual asset, the realisable value will be determined for the cash flow-generating unit to which the asset belongs. An extraordinary downward value adjustment occurs if the book value of an asset is higher than the realisable value; the realisable value is the higher of the market value and the operating value.
If it is determined that an extraordinary downward value adjustment that was accounted for in the past no longer exists or has fallen in size, the increased book value for the asset in question will not be set higher than the book value that would have been determined if no extraordinary downward value adjustment had been accounted for, for the asset in question.
Also for financial instruments, the company will determine on each balance sheet date whether there are objective indications for extraordinary downward value adjustment of a financial asset or a group of financial assets. If such objective indications are present, the company will determine the scale of the loss from the extraordinary downward value adjustments, and will immediately account for that loss in the profit and loss account.
In the case of financial assets valued at amortised cost price, the scale of the extraordinary downward value adjustment will be determined as the difference between the book value of the asset and the best possible estimate of the future cash flows, capitalised at the effective interest rate of the financial asset as determined upon the first accounting of the instrument. The downward value adjustment loss that was taken up must be taken back if the fall in the downward value adjustment relates to an objective event following deduction. The take-back will be restricted to not more than the amount necessary for valuing the asset at the amortised cost price at the moment of take-back, if there had been no extraordinary downward value adjustment. The taken-back loss is accounted for in the profit and loss account.
In the case of an investment in equity capital instruments valued at cost price the size of the extraordinary downward value adjustment is determined as the difference between the book value of the financial asset and the best possible estimate of the future cash flows, capitalised at the current asset cost rate for a similar financial asset. The extraordinary downward value adjustment loss will only be taken back if there are indications that a loss accounted for in the annual accounts in previous years is no longer present or has changed as a consequence of downward value adjustment.
56 57 Current assets
Stocks The stocks of raw materials and consumables are valued at fixed settlement prices (based on the purchase price plus various additional amount) subject to the FIFO method, or the realisable value, if lower.
The stocks of work in progress (including semi-manufactured goods) and finished products are valued at manufacturing cost or realisable value, if lower. The manufacturing costs consist of all costs relating to acquisition or manufacture, and costs incurred for bringing the stock to their current location or their current condition. Manufacturing costs include direct salary costs and bonuses for indirect fixed and variable costs related to production.
The realisable value is the estimated sales price less directly attributable sales costs. In determining the realisable value, account is taken of the unsaleability of the stocks.
Projects in progress The item projects in progress on behalf of third parties consists of the balance of realised project costs, allocated profit and if applicable accounted losses and already declared instalments. Projects in progress are presented individually in the balance sheet under current assets. If the item shows a credit balance, it will be presented under current liabilities.
Receivables Receivables including tax and prepayments and accrued income, are initially measured at fair value and subsequently at amortised cost price. The fair value and amortised cost price are practically equal to the nominal value. Any provisions considered necessary for bad debt risk shall be deducted. These provisions are determined on the basis of an individual assessment of the receivables.
Liquid assets Liquid assets consist of cash at bank and in hand. Current account debts to banks are listed under debts to credit institutions under current liabilities. Liquid assets are entered at nominal value.
Shareholders’ equity
Revaluation reserve The existing revaluation reserve, minus relevant (deferred) tax obligations, is the consequence of the revaluations of buildings and land used for business purposes in the period before 1 January 2016. As a consequence of the transition ruling as outlined in RJ 212.8, this revaluation reserve is released upon realisation, in other words as a result of depreciation or sale in future periods. The realised revaluation will be accounted for immediately in the shareholder’s equity.
The corresponding release of the (deferred) tax obligations will be placed in favour of the result under the item tax on result from ordinary business activities.
58 Provisions
General Provisions are established for legally-enforceable or actual obligations existing on the balance sheet date, whereby an outflow of resources is probably necessary, the scale of which can be reliably estimated.
The provisions are valued at the best estimate for the amounts necessary for settling the obligations as at the balance sheet date. The provisions are valued at nominal value of the expenditure expected to be necessary for settling the obligations, unless otherwise stated.
If a third party is expected to reimburse these obligations, and if it is likely that this payment will be received upon settlement of the obligation, this payment will be deducted from the provisions.
Provision for pensions The Dutch pension schemes are subject to the provisions of the Dutch Pensions Act and on a compulsory contractual or voluntary basis, premiums are paid to the pension funds and insurance companies, by the Groep. Premiums are accounted for as staff costs as soon as they become payable. Prepaid premiums are listed as prepayments and accrued income, if they result in a return payment or a reduction in future payments. Premiums not yet paid are listed in the balance sheet as obligations.
For foreign pension schemes structured in a manner comparable to the way in which the Dutch pension system is structured and operated, obligations arising from foreign pension schemes are accounted for and valued in accordance with the valuation of the Dutch pension schemes.
For foreign pension schemes structured in a manner not comparable to the way in which the Dutch pension system is structured and operated, a best estimate is made of the obligation for the Group as at the balance sheet date.
Deferred taxation obligations The provision for deferred taxation relates to future tax obligations arising from differences between the valuation of the buildings according to these annual accounts and the fiscal valuation of the relevant items. Deferred tax obligations are calculated according to the current rate of income tax and as concerns the reassessment of buildings, at a rate of 15%. The majority of the provision can be characterised as long-term.
Warranty provision The provision relates to the refundable costs for products sold or services provided, if an obligation has arisen for the legal entity, due to non-compliance with the agreed quality.
Provision for anniversaries The provision for anniversaries is accounted for at cash value of the expected payments during the period of employment. In calculating the provision, account is taken of expected salary rises, the likelihood of the employee remaining in employment, and is converted into cash on the basis of a discount rate.
58 59 Other provisions Other provisions relate primarily to provisions from buy-back guarantees, dismantling and medical expenses insurance for former employees. The provisions are listed at nominal value of the estimated obligations. The majority of the provisions can be characterised as long-term.
Other assets and liabilities
Liabilities are initially valued at fair value. Transaction costs immediately attributable to the acquisition of liabilities are included in the valuation and initial measurement. Following initial measurement, liabilities are valued at amortised cost, namely the amount received taking account of the share premium or discount less transaction costs. The fair value and amortised costs are practically equal to the nominal value.
PRINCIPLES FOR DETERMINATION OF THE RESULT
General The result is determined as the difference between the realisable value of goods and services provided and costs and other expenditure over the year. Income from transactions is reported in the year in which it was realised.
Revenue recognition
Net turnover Net turnover (the sum of invoiced turnover and changes in projects in progress) comprises the income from the delivery of goods and realised project income from projects in progress less discounts, etc. and any tax levied on turnover, and following elimination of transactions within the Groep.
Sale of goods Income from the sale of goods is included as soon as all essential rights and risks relating to ownership of the goods have been transferred to the purchaser.
Project income and project costs For projects in progress, the result of which can be reliably foreseen, the project income and project costs are accounted for as net turnover and costs in the profit and loss account proportionally to the performance provided as at the balance sheet date (the ‘Percentage of Completion’ method or PoC method).
The progress of the performance provided is determined on the basis of the project costs incurred up to the balance sheet date in relation to the estimated total project costs. If a result cannot (yet) be reliably estimated, the income is accounted for as net turnover in the profit and loss account, up to the amount of incurred project costs that can probably be recovered; the project costs are then accounted for in the profit and loss account in the period in which they are incurred. As soon as the result can be reliably determined, revenue recognition is carried out according to the PoC method, proportionally to the performance as at balance sheet date.
60 The result is determined as the difference between the project income and project costs. Project income relates to the contractually agreed income and income from additional and less work, claims and payments if and in as much as it is probable these will be realised and can be reliably predicted. Project costs are the costs relating directly to the project, that can generally be allocated to project activities and allocated to the project and other costs contractually attributable to the client. If it is probable that the total project costs exceed total project income, expected losses are immediately accounted for in the profit and loss account. This loss is reported in the cost price of turnover. The provision for the loss is part of the item projects in progress.
If it is probable that the total project costs exceed total project income, expected losses are immediately accounted for in the profit and loss account. The loss is reported in the cost price of turnover. The provision for the loss is part of the item projects in progress.
Employee benefits
Periodically payable benefits Wages, salaries and social security contributions are accounted for in the profit and loss account, on the basis of the employment conditions, in as much as payable to employees.
Pensions VDL Groep B.V. has accounted for all pension schemes according to the obligations approach. The premium payable on the year under review is also accounted for as an expense.
Miscellaneous
Depreciation on intangible and tangible fixed assets Intangible and tangible fixed assets are depreciated during the expected useful life of the asset from the moment of commissioning. There is no depreciation on land.
If a change is made to the estimated future useful life, future depreciation will be adjusted.
Book profits and losses from the incidental sale of tangible fixed assets are included under other operating income or costs.
Government grants Operating grants are accounted for as income in the profit and loss account in the year in which the granted costs were incurred or income was lost or if a grant operating shortfall occurred. The income is accounted for when it is likely that it will be received.
Grants relating to investments in tangible fixed assets are deducted from the asset in question, and accounted for as part of depreciation in the profit and loss account.
60 61 Interest income and interest expenses Interest income and interest expenses are accounted for in proportion to time, taking account of the effective interest rate for the assets and liabilities in question. In accounting for the interest expenses, account is taken of the reported transaction costs on the loans received.
Tax on the result from ordinary business operations The tax on the result is calculated on the result before tax in the profit and loss account, taking account of any available losses eligible for fiscal compensation from previous financial years (in as much as not included in deferred tax receivables) and exempted profit components, and following addition of non-deductible costs. Account is also taken of changes occurring in the deferred tax receivables and deferred tax liabilities as a result of changes to tax rates imposed.
FINANCIAL INSTRUMENTS AND RISK MANAGEMENT
Market risk VDL Groep B.V. operates worldwide but the majority of positions and transactions are in euros meaning that the currency risks are minimal. VDL Groep B.V. occasionally makes use of currency future contracts.
VDL Groep B.V. runs no noteworthy price risks.
VDL Groep B.V. runs interest risk on the interest-bearing receivables (in particular under current assets and liquid assets) and interest-bearing current liabilities.
For receivables and liabilities with variable interest agreements, VDL Groep B.V. runs risks in respect of future cash flows; as concerns fixed-interest receivables and liabilities, VDL Groep B.V. runs risks on the fair value as a consequence of changes to the market rate.
As concerns receivables, no financial derivatives are contracted in respect of interest risk.
Credit risk VDL Groep B.V. has no significant concentrations of credit risk. Sales are made to customers that meet the creditworthiness assessment of VDL Groep B.V. Any liquid assets are with banks with at least an A-rating.
Liquidity risk VDL Groep B.V. has no liquidity risk since the company has sufficient liquid assets.
62 VDL GROEP SUBSIDIARIES
62 63 HOLDING COMPANIES
VDL Groep bv VDL International bv VDL Vastgoed bv Board of Management: Management: VDL Groep bv Managing Director: Pieter van der Leegte Willem van der Leegte (Chairman) Hoevenweg 1 Hoevenweg 1 Jennifer van der Leegte 5652 AW Eindhoven, the Netherlands 5652 AW Eindhoven, the Netherlands Pieter van der Leegte T: +31 (0)40 - 292 50 35 T: +31 (0)40 - 292 50 00 Jan Karssen Holding company for foreign operating companies. Real estate company for VDL commercial real estate. Wim Maathuis Jan Mooren VD Leegte Beheer bv VDL Participatie bv Theo Toussaint Management: VDL Groep bv Managing Director: Paul van Vroonhoven Hoevenweg 1 Godfried de Jongh / Bart Rooijmans 5652 AW Eindhoven, the Netherlands Hoevenweg 1 Vice Presidents: T: +31 (0)40 - 292 50 35 5652 AW Eindhoven, the Netherlands Simon Bambach Holding company Dutch operating companies. T: +31 (0)40 - 292 50 35 Jos Bax Participation company with minority participations. Carel Bouckaert VDL Bus Beheer bv Henk Coppens Management: VDL Groep bv VDL Car Beheer bv Rémi Henkemans Hoevenweg 1 Management: VDL Groep bv Henri Koolen 5652 AW Eindhoven, the Netherlands Hoevenweg 1 Bas van der Leegte T: +31 (0)40 - 292 50 35 5652 AW Eindhoven, the Netherlands Jos van Meijl Holding company for bus and coach companies. T: +31 (0)40 - 292 50 35 Guustaaf Savenije Holding company for car assembly. Edwin Willems
Hoevenweg 1 5652 AW Eindhoven, the Netherlands T: +31 (0)40 - 292 50 00 [email protected] www.vdlgroep.com
VDL Nederland bv Managing Director: Paul van Vroonhoven Hoevenweg 1 5652 AW Eindhoven, the Netherlands T: +31 (0)40 - 292 50 00 [email protected] Supports all group companies as regards financial affairs, ICT, social affairs, health and safety & environment, communications, subsidies and legal affairs.
VDL Holding Belgium nv Managing Director: Leen Van de Voorde Antwerpsesteenweg 124 2630 Aartselaar, Belgium T: +32 (0)3 - 870 55 40 [email protected] Supports all Belgian and French group companies in the field of accounting and personnel matters.
64 SUBCONTRACTING
Metalworking 1986 1992
1953 VDL Belgium nv VDL MPC bv Managing Director: Stephan Peeters Managing Director: Edwin Leenders VD Leegte Metaal bv Industrielaan 15 Terminalweg 40 Managing Director: Jos Bax Industriezone III - Erembodegem 3821 AJ Amersfoort, the Netherlands Handelsweg 21 9320 Aalst, Belgium T: +31 (0)33 - 454 29 00 5527 AL Hapert, the Netherlands T: +32 (0)53 - 83 70 90 [email protected] T: +31 (0)497 - 33 11 00 [email protected] www.vdlmpc.com [email protected] www.vdlbelgium.com Production, supply chain management, assembly www.vdleegtemetaal.nl Specialty: CNC tube bending up to 150 mm and prototyping of complex sheet-metal parts, Specialty: heavy construction work and complex diameter. Production of insulated tubes. Tool shop, mechanic precision components and assemblies. welding assemblies (20 welding robots). Automated ultrasonic cleaning and 3D laser. Metal processing Specialised in fast ramping of prototypes to volume metalworking such as cutting, setting, punching, including cutting, stamping, setting, (robotic) welding production with respect to logistics, quality and deep-drawing and laser cutting. In-house tool shop and spot welding. overall costs. All standard sheet-metal working and assembly department. techniques and milling operations such as 1989 laser‑punching-cutting, precision bending, 1978 welding, turning, milling, wire and sink erosion VDL Technics bv and (cleanroom) assembly in one company. VDL Gereedschapmakerij bv Managing Director: Hans Sanders Managing Director: Pieter Aarts Korenmolen 2 1993 Industrieweg 29 5281 PB Boxtel, the Netherlands 5527 AJ Hapert, the Netherlands T: +31 (0)411 - 68 29 80 VDL Staalservice bv T: +31 (0)497 - 38 10 62 [email protected] Managing Director: Paul Hermans [email protected] www.vdltechnics.nl Celsiusstraat 13 www.vdlgereedschapmakerij.nl Laser cutting 4 and 6 KW with Stopa warehouse, 6003 DG Weert, the Netherlands Tools ranging from simple to high grade and CNC squaring, cutting, profiling and punching. T: +31 (0)495 - 54 08 38 complex. Complex follow-on cutting and bending Specialisation in construction work and robotic [email protected] tools and dies. Series production of precision welding with offline programming. Mechanical www.vdlstaalservice.nl components. CNC-5 spindle milling, sawing, CNC finishing up to 14 metres of (complex) welded The manufacture of customer-specific welded grinding, turning, wire sparking and co-drilling. assemblies. Stamping work up to 200 tonnes with assemblies, laser, plasma and autogenic cut, Processes are carried out in CAD/CAM. hydraulic and fully-automatic eccentric presses. bevelled and mechanically finished products. Engineering, project management and assembly. Metalworking such as CNC laser cutting, CNC 1979 flame cutting and CNC plasma cutting. Punching, 1990 cutting, CNC squaring, welding (MIG/MAG/TIG), VDL TIM Hapert bv machining and water jet cutting. Managing Director: Piet Spooren VDL HMI bv Energieweg 2 Managing Director: Hans van Raak 1994 5527 AH Hapert, the Netherlands Kleibeemd 1 T: +31 (0)497 - 38 38 05 5705 DP Helmond, the Netherlands VDL Lasindustrie bv [email protected] T: +31 (0)492 - 54 08 00 Managing Director: Piet Sterrenburg www.vdltimhapert.nl [email protected] Wekkerstraat 1 Specialised in mechanical processing of cast and www.vdlhmi.nl 5652 AN Eindhoven, the Netherlands forging work and welding assemblies by means Metalworking such as cutting, sawing, stamping, T: +31 (0)40 - 292 33 00 of CNC lathes and (robotised) CNC processing setting, pipe bending, CNC punching, CNC plate [email protected] machines. Assembly work. cutting and 3D pipe laser cutting, (robotic) welding www.vdllasindustrie.nl and soldering. Sheet-metal work, construction work From engineering and prototyping through to 1981 and assembly work. production of small and large series. Specialised in sheet-metal and construction work. Cutting, VDL VDS Technische Industrie bv 1991 sawing, CNC punching, CNC laser cutting, CNC Managing Director: Pieter Aarts setting, drilling, tapping, milling and all welding Industrieweg 29 VDL NSA Metaal bv activities such as robotic welding, welding 5527 AJ Hapert, the Netherlands Managing Director: Bart Spackler (MIG/MAG/TIG), spot welding and stud welding. T: +31 (0)497 - 38 38 44 De Run 4234 [email protected] 5503 LL Veldhoven, the Netherlands www.vdlvds.nl T: +31 (0)40 - 254 45 65 Mechanical and hydraulic punching, bending and [email protected] drawing possible up to 800 tonnes, with integrated www.vdlnsametaal.nl finishing. Medium-sized and large series from Specialists in universal and tool-specific sheet simple to complex metal parts with minimum metalworking. Development, prototyping, tooling, tolerances. Material thickness 0.10-10 mm. production and composition of sheet metal parts (Robotic) welding, (CNC) spot welding, riveting, in, for example, stainless steel, aluminium and 3D laser cutting, automated assembly and (sub) steel, from single items to medium-sized series. assembly. Highly advanced machinery.
64 65 SUBCONTRACTING
1995 1998 2005 VDL RPI Metaal bv VDL Systems bv VDL Konings bv Managing Director: Hans de Bresser Managing Director: Edwin Willems Managing Director: Sjoerd van de Velde Nijverheidsweg 40 Erfstraat 3 Bosstraat 93 3341 LJ Hendrik-Ido-Ambacht, the Netherlands 5405 BE Uden, the Netherlands 6071 XT Swalmen, the Netherlands T: +31 (0)78 - 683 18 00 T: +31 (0)413 - 25 05 05 T: +31 (0)475 - 50 01 00 [email protected] [email protected] [email protected] www.vdlrpimetaal.nl www.vdlsystems.nl www.vdlkonings.com Sheet-metal working: from 0.5 mm in steel, Development, production and installation of Design, engineering, prototyping, production, stainless steel and aluminium, specialised in desks machines and internal transport systems for OEMs assembly and installation of customer-specific and frame building for complicated assemblies. All who produce Food Processing Equipment. Specialised mechanisation work, machines and installations for welding processes including robotic welding, stud in the processing of stainless steel and aluminium. the film, foil, foam and paper industry. welding and spot welding. Machined sheet-metal Development, production and supply chain processes: punching, laser cutting, squaring and 1998 management of modules and systems for OEMs for cutting. Machining: turning, milling and drilling. example in the medical sector. Certified welding Mounting and mechanical assembly. VDL Postma bv and large-format mechanical processing including Managing Director: Johan Zwarts turning, milling, boring and drilling. 1996 Leeuwarderstraatweg 121d 8441 PK Heerenveen, the Netherlands VDL Rotech SRL T: +31 (0)513 - 62 25 36 Managing Director: [email protected] Robbert Smolders / Silviu Nitulescu www.vdlpostma.nl Zona industriala NV str. 1 nr. 5 Sheet-metal processing: laser cutting, CNC punch 310419 Arad, Romania nibbling, cutting and squaring. Pipe processing: T: +40 (0)257 - 25 66 43 CNC bending, rolling, (robotic) welding and [email protected] machining. Powder coating including chemical Metalworking, specialised in CNC machining such pre‑treatment by means of separated immersion as milling and turning. Production of welded baths for steel and aluminium. constructions and assembly work. Thin sheet-metal work: cutting, stamping, spot welding.
66 2006 Surface treatment 2005
VDL Services bv 1983 VDL Wientjes Roden bv Managing Director: Rob Diepstraten Managing Director: Chris Mulder Handelsweg 21 VDL Laktechniek bv Ceintuurbaan Noord 130 5527 AL Hapert, the Netherlands Managing Director: Ad Pasmans 9301 NZ Roden, the Netherlands T: +31 (0)497 - 38 01 00 Meerenakkerweg 20 T: +31 (0)50 - 502 48 11 [email protected] 5652 AV Eindhoven, the Netherlands [email protected] www.vdlservices.nl T: +31 (0)40 - 250 19 00 www.vdlwientjesroden.nl Repair, maintenance and installation of a range of [email protected] Engineering, design and production of high-quality (VDL) products supported by a 24/7 service www.vdllaktechniek.nl plastic products. Various processing techniques, organisation with a network of service engineers Grit blasting, zinc phosphate coating, cataphoresis including vacuum forming, CNC machining, laser throughout the Netherlands. Also worldwide painting, powder coating, wet painting, assembly cutting, welding, gluing and assembly. project supervision and implementation. and warehousing. Fully-automated cataphoresis and powder coating line including pre-treatment and 2008 zinc phosphating. 2005 VDL Network Supplies bv Managing Director: William van Hout VDL Wientjes Emmen bv Handelsweg 21 Plastics processing Managing Director: Hans Meuleman 5527 AL Hapert, the Netherlands Phileas Foggstraat 30 T: +31 (0)497 - 33 11 00 1989 7825 AK Emmen, the Netherlands [email protected] T: +31 (0)591 - 66 96 66 www.vdlnetworksupplies.nl VDL Kunststoffen bv [email protected] Specialised in the production of semi-finished, Managing Director: Rick van Haren www.vdlwientjesemmen.nl finished products and related services for the Industrieweg 107 Engineering, design and production of high-quality construction, housing and extension of large and 5591 JL Heeze, the Netherlands plastic products. Production techniques: injection national networks such as mobile phone, telecom, T: +31 (0)40 - 224 11 60 moulding of (fibre-reinforced) thermoplastics, gas energy and railway networks. [email protected] injection, 2-components and in-mould labelling. www.vdlkunststoffen.com Hot-pressing of thermoharders (polyester) and 2016 High-grade technical plastic injection moulded assembly. Producer of sheet moulding compound components, 2K injection moulding, insert and (SMC), a glass fibre-reinforced polymer semi- VDL Castings Heerlen bv outsert moulding. Engineering, product development manufacture. Managing Director: Eddy Kremers and project support to customers during the Deputy Director: Ruud Pisters development process. Assembly and finishing of 2011 De Koumen 2 components and finished products. Own tool shop. 6433 KD Hoensbroek, the Netherlands VDL Fibertech Industries bv T: +31 (0)495 - 51 38 00 1993 Managing Director: Michiel Wassink [email protected] Diamantweg 54 www.vdlcastingsheerlen.nl VDL Parree bv 5527 LC Hapert, the Netherlands Iron foundry that produces spare parts for trucks Managing Director: Ger Stappers T: +31 (0)497 - 33 84 00 and earthmoving and road building machines. Spoorstraat 8 [email protected] 5975 RK Sevenum, the Netherlands www.vdlfibertechindustries.com 2016 T: +31 (0)77 - 467 70 88 Develops and produces high-tech composite and [email protected] polyurethane products, for the markets healthcare, VDL Castings Weert bv www.vdlparree.com defence, semiconductor, transportation and Managing Director: Eddy Kremers Specialist in the field of high-quality technical aerospace. Using RTM, Hot Pressing, (R) RIM and Lozerweg 90 plastic injection moulded parts, metal parts, Acrosoma® sandwich technologies. 6006 SR Weert, the Netherlands assemblies and metal and plastic combinations. T: +31 (0)495 - 51 38 00 2K techniques, gas injection, in-mould labelling, [email protected] insert and outsert moulding, prägen and MuCell www.vdlcastingsweert.nl extrusion. Co-design function, product innovations, Iron foundry that produces spare parts for trucks product optimisation and engineering. Specialist in and earthmoving and road building machines. automotive applications. In-house tool shop and assembly department.
66 67 SUBCONTRACTING
Mechatronic systems and system supply 2006 2006
1991 VDL ETG Eindhoven bv VDL Enabling Technologies Group Managing Director: Wil-jan Schutte (Singapore) Pte Ltd VDL Apparatenbouw bv Achtseweg Noord 5 Managing Director: Jadranko Dovic Managing Director: Mark Verdonschot 5651 GG Eindhoven, the Netherlands 259 Jalan Ahmad Ibrahim Sigarenmaker 8 T: +31 (0)40 - 263 88 88 Singapore 629148, Singapore 5521 DJ Eersel, the Netherlands [email protected] T: +65 650 803 20 T: +31 (0)497 - 51 51 50 www.vdletg.com [email protected] [email protected] Operates in the business of system integration of www.vdletg.com www.vdlapparatenbouw.com mechatronic (sub)systems and modules for OEMs in Operates in the business of system integration of System supplier in the area of (complex) medical, the high-tech capital equipment industry and in the mechatronic (sub)systems and modules for OEMs in optical and mechatronic modules for OEM and area of production mechanisation. System supplier the high-tech capital equipment industry and in the consumer markets. Development, manufacture, from (co-)engineering through parts production to area of production mechanisation. System supplier testing and provision of service, overall logistics and assembly and testing. from (co-)engineering through parts production to project management, as well as the design and assembly and testing. manufacture of filter and tank installations for the 2006 agricultural and chemical industry. 2013 VDL ETG Projects bv 2004 Managing Director: Arie van Kraaij VDL ETG Technology & Development bv Hurksestraat 13 Managing Director: Geert Jakobs VDL Industrial Modules bv 5652 AH Eindhoven, the Netherlands De Schakel 22 Managing Director: Jeroen van den Hurk T: +31 (0)40 - 263 82 18 5651 GH Eindhoven, the Netherlands Brandevoortse Dreef 4 [email protected] T: +31 (0)40 - 263 88 88 5707 DG Helmond, the Netherlands www.vdletg.com [email protected] T: +31 (0)492 - 50 58 00 Develops, produces, assembles and installs (mass) www.vdletg.com [email protected] fabrication equipment worldwide for a wide range Development organisation responsible for the www.vdlindustrialmodules.nl of markets varying from food and medical through development of high-tech mechatronic (sub)systems System supplier for the OEM market. Development, to solar and semicon, in the form of both one-offs and the further optimisation of production processes prototyping, precision sheet-metal processing, and roll-outs. Also makes and assembles precision- within VDL ETG to ensure the provision of optimum (cleanroom) assembly and testing of high-quality engineered, high-precision parts, prototypes and systems to meet customer needs. modules and systems, with a strong focus on modules for the semiconductor, aerospace and integral cost-price-control, logistics and minimising science & technology market, and others. The 2015 financial risks in the supply chain. Design and company operates first-class measurement and production of dynamic and static road signs. calibration facilities. VDL GL Precision bv Managing Director: Herman Rusch 2006 2006 Hurksestraat 23 5652 AH Eindhoven, the Netherlands VDL Enabling Technologies Group bv VDL ETG Almelo bv T: +31 (0)40 - 292 20 55 Managing Director: Guustaaf Savenije Managing Director: Sander Verschoor [email protected] De Schakel 22 Bornsestraat 345 www.vdlglprecision.nl 5651 GH Eindhoven, the Netherlands 7601 PB Almelo, the Netherlands Fabricates extremely close tolerance precision T: +31 (0)40 - 263 88 88 T: +31 (0)546 - 54 00 00 mechanical components and modules for the [email protected] [email protected] semiconductor, optical, machine building and www.vdletg.com www.vdletg.com aerospace industries. Performs all required VDL Enabling Technologies Group is aimed at Operates in the business of system integration of processes in-house, including machining, micro- system integration and logistic/supply chain mechatronic (sub)systems and modules for OEMs in laser processing and cleanroom activities. management for mechatronic (sub)systems on the high-tech capital equipment industry and in the behalf of OEMs for high-tech capital goods. area of production mechanisation. System supplier 2015 The general management of the eight VDL ETG from (co-)engineering through parts production to branches in Eindhoven, Almelo, Singapore, Suzhou assembly and testing. VDL ETG Switzerland AG (China) and Trübbach (Switzerland) is located in Managing Director: John Piggen Eindhoven. In addition, new business development 2006 Hauptstrasse 1a and key account management, technology, 9477 Trübbach, Switzerland engineering and purchasing are organised centrally. VDL Enabling Technologies Group of T: +41 (0)81 784 64 00 Suzhou Ltd [email protected] Managing Director: Ton de Haan www.vdletg.com 288 Su Hong Xi Road Operates in the business of system integration of Suzhou Industrial Park, mechatronic (sub)systems and modules for OEMs in Jiangsu P.R.C. 215021, China the high-tech capital equipment industry and in the T: +86 512 - 85 18 89 98 area of production mechanisation. System supplier [email protected] from (co-)engineering through parts production to www.vdletg.com assembly and testing. Operates in the business of system integration of mechatronic (sub)systems and modules for OEMs in the high-tech capital equipment industry and in the area of production mechanisation. System supplier from (co-)engineering through parts production to assembly and testing.
68 CAR ASSEMBLY
2012 VDL Nedcar bv Managing Director: Carel Bouckaert Dr. Hub van Doorneweg 1 6121 RD Born, the Netherlands T: +31 (0)46 - 489 44 44 [email protected] www.vdlnedcar.nl Independent contract manufacturer of vehicles, with the primary activity being the series production of cars. Also makes pressed parts for various customers. VDL Nedcar is the only major automotive plant in the Netherlands, with production capacity for some 200,000 vehicles a year, based on a two-shift system.
68 69 70 BUSES & COACHES
Production 1998 2003
1993 VDL Bus Roeselare nv VDL Bus & Coach Polska Sp. z o.o. Managing Director: Peter Wouters Managing Director: Bolesław Piekorz VDL Bus Chassis bv Schoolstraat 50 Straszków 121 Managing Director: Jan-Cees Santema 8800 Roeselare, Belgium 62-604 Kościelec, Poland Hoevenweg 1 T: +32 (0)51 - 23 26 11 T: +48 63 - 261 60 91 5652 AW Eindhoven, the Netherlands [email protected] [email protected] T: +31 (0)40 - 250 05 00 www.vdlbuscoach.com www.vdlbuscoach.com [email protected] Development and production of buses for public Sales, after sales and parts for all VDL Bus & Coach www.vdlbuscoach.com transport with both diesel and electrical drive systems, products in Poland. Development and assembly of complete chassis, luxury coaches and carrying out special projects. chassis modules and CKD packages for public 2003 transport buses and coaches. Development, 2003 assembly and modification of industrial vehicles to VDL Bus & Coach Deutschland GmbH customer specifications. VDL Bus Valkenswaard bv Managing Director: Boris Höltermann Managing Director: Marc van Doorn Oberer Westring 1 1998 De Vest 9 Industriegebiet West 5555 XL Valkenswaard, the Netherlands 33142 Büren, Germany VDL Bus Heerenveen bv T: +31 (0)40 - 208 46 11 T: +49 (0)2951 - 60 80 Managing Director: Dennis van Opzeeland [email protected] [email protected] Wetterwille 12 www.vdlbuscoach.com www.vdlbuscoach.com 8447 GC Heerenveen, the Netherlands Development and assembly of luxury coaches, VIP Sales, after sales and parts for all VDL Bus & Coach T: +31 (0)513 - 61 85 00 coaches and carrying out special projects. products in Germany and Austria. [email protected] www.vdlbuscoach.com 2003 Development and production of buses for public transport, such as city and regional buses with both Sales offices VDL Bus & Coach (Suisse) GmbH diesel and electrical drive systems. Managing Director: Bernard Donzé 2003 Erlenstrasse 29 1998 Postfach VDL Bus & Coach France sarl 2555 Brügg, Switzerland VDL Bus Modules bv Managing Director: Manon Raynal T: +41 (0)32 - 366 65 65 Managing Director: Frank Van Geel 5, rue du Pont de la Brèche [email protected] De Vest 55 Z.A.E. ‘Les Grandes Vignes’ www.vdlbuscoach.com 5555 XP Valkenswaard, the Netherlands 95192 Goussainville Cedex, France Sales, after sales and parts for all VDL Bus & Coach T: +31 (0)40 - 208 24 24 T: +33 (0)1 - 343 88 940 products in Switzerland. [email protected] [email protected] www.vdlbuscoach.com www.vdlbuscoach.com 2007 Development and production of modules for luxury Sales, after sales and parts for all VDL Bus & Coach coaches, doubledeckers, VIP coaches and special products in France. VDL Bus & Coach bv projects. Managing Director: Henk Coppens 2003 Commercial Director: Marcel Jacobs 1998 De Vest 7 VDL Bus & Coach Italia s.r.l. a socio unico 5555 XL Valkenswaard, the Netherlands VDL Bus Venlo bv Managing Director: T: +31 (0)40 - 208 44 00 Managing Director: Mark Francot Anno Dirksen / Massimiliano Costantini [email protected] Huiskensstraat 49 Piazza dei Beccadori, 12 www.vdlbuscoach.com 5916 PN Venlo, the Netherlands 41057 Spilamberto (MO), Italy VDL Bus & Coach offers an extensive product T: +31 (0)77 - 320 00 80 T: +39 059 - 78 29 31 range: chassis and chassis modules, coaches, public [email protected] [email protected] transport buses, mini and midi buses, special www.vdlbuscoach.com www.vdlbuscoach.com vehicles and second-hand buses. The product range Production of mini & midi buses for coach and Sales, after sales and parts for all VDL Bus & Coach also includes a variety of e-mobility solutions for public transport, police vehicles, taxi buses, airport products in Italy. public transport. VDL Bus & Coach has an extensive, transport and special transport (such as disabled international network of offices, agents and persons and VIP) in all possible types. Also body 2003 importers offering sales and after sales support. repair of cars and commercial vehicles under the trade name VDL Kusters as part of ABS Autoherstel. VDL Bus & Coach Belgium (www.absvdlkusters.nl / T: +31 (0)77 - 351 70 45) Managing Director: Henk Coppens Schoolstraat 50 8800 Roeselare, Belgium T: +32 (0)51 - 23 26 06 [email protected] www.vdlbuscoach.com Sales, after sales and parts for all VDL Bus & Coach products in Belgium and Luxembourg.
70 71 BUSES & COACHES
2007 Second-hand buses 2012
VDL Bus & Coach Nederland bv 2003 VDL Bus & Coach Service FRY-ZHN bv Managing Director: Ard Romers Managing Director: Ton Behr De Vest 3 VDL Bus Center bv De Vest 3 5555 XL Valkenswaard, the Netherlands Managing Director: Ferdinand Brouwers 5555 XL Valkenswaard, the Netherlands T: +31 (0)40 - 208 44 90 De Run 4232 T: +31 (0)40 - 208 44 60 [email protected] 5503 LL Veldhoven, the Netherlands [email protected] www.vdlbuscoach.com T: +31 (0)40 - 295 46 35 www.vdlbuscoach.com Sales and after sales for all VDL Bus & Coach [email protected] Specialist workshop for maintenance, repair and products in the Netherlands. www.vdlbuscenter.com damage repair of coaches, buses and other means Purchase and sales of used buses and coaches of all of transport, with units in Leiden, Krimpen aan den 2008 makes and models. IJssel, Leeuwarden and Sneek.
VDL Bus & Coach Czech Republic s.r.o. 2003 2014 Managing Director: Pavel Schlosser Haštalská 6/1072 VDL Bus Center GmbH VDL Bus & Coach Service Brabant bv 110 00 Prague, Czech Republic Managing Director: Managing Director: Ton Behr T: +420 - 384 420 348 Ferdinand Brouwers / Burkhard Gieffers De Vest 3 [email protected] Oberer Westring 2 5555 XL Valkenswaard, the Netherlands www.vdlbuscoach.com Industriegebiet West T: +31 (0)40 - 208 44 60 Sales, after sales and parts for all VDL Bus & Coach 33142 Büren, Germany [email protected] products in the Czech Republic and Slovakia. T: +49 (0)2951 - 98 920 www.vdlbuscoach.com [email protected] Specialist workshop for maintenance, repair and 2008 www.vdlbuscenter.com damage repair of coaches, buses and other means Purchase and sales of used buses and coaches of all of transport, with units in Den Bosch and Tilburg. VDL Bus & Coach South Africa (Pty) Ltd makes and models. Managing Director: Jan-Cees Santema 2016 8 Rudo Nell Road Boksburg 1459, Johannesburg, South Africa VDL Bus & Coach Service Limburg bv T: +27 (0)11 - 392 14 70 Parts & services Managing Director: Ton Behr [email protected] De Vest 3 www.vdlbuscoach.com 2003 5555 XL Valkenswaard, the Netherlands Sales, after sales and parts for all VDL Bus & Coach T: +31 (0)40 - 208 44 60 products in South Africa. VDL Busland bv [email protected] Managing Director: Ton Behr www.vdlbuscoach.com 2010 De Vest 3 Specialist workshop for maintenance, repair and 5555 XL Valkenswaard, the Netherlands damage repair of coaches, buses and other means VDL Bus & Coach Serbia d.o.o. Beograd T: +31 (0)40 - 208 44 60 of transport, with units in Maastricht, Venlo and Managing Director: Branislav Radovanović [email protected] Heerlen. Gandijeva 99d www.vdlbuscoach.com 11070 Belgrade, Serbia Specialised workshop for maintenance, repair and T: +381 (0)11 2166 525 damage repair of all makes of coaches and buses. [email protected] Electrical mobility www.vdlbuscoach.com 2006 Sales, after sales and parts for all VDL Bus & Coach 2015 products in Serbia. VDL Parts bv Managing Director: Peter Schellens VDL Enabling Transport Solutions bv 2012 De Run 5410 Managing Director: Menno Kleingeld 5504 DE Veldhoven, the Netherlands Automotive Campus 50 VDL Bus & Coach Danmark A/S T: +31 (0)40 - 208 41 00 5708 JZ Helmond, the Netherlands Managing Director: Anita Palm Laursen [email protected] T: +31 (0)492 - 56 27 27 Naverland 21 www.vdlparts.com [email protected] 2600 Glostrup, Danmark Responsible for all after sales activiteis for the www.vdlets.nl T: +45 70 23 83 23 VDL Bus & Coach product range and for the Focuses on research, development and testing of [email protected] distribution of original VDL parts and universal new possibilities, in particular for transport-related www.vdlbuscoach.com parts for the bus & coach market. activities of VDL companies. The objective is to Sales, after sales and parts for all VDL Bus & Coach develop environmentally-friendly and innovative products in Denmark. hardware and software solutions in the field of electric transport (E-mobility), battery technology, charging infrastructure, energy storage, automated guided vehicles (AGVs), and guidance and navigation technology.
72 FINISHED PRODUCTS
Agricultural systems Production automation systems
1989 1995 1995 VDL Agrotech bv VDL Steelweld bv VDL Steelweld UK Managing Director: Brian van Hooff Managing Director: Peter de Vos Managing Director: Darren Dowsett / Peter de Vos Hoevenweg 1 Terheijdenseweg 169 Unit 3, The Barford Exchange 5652 AW Eindhoven, the Netherlands 4825 BJ Breda, the Netherlands Wellesbourne Road, Barford, T: +31 (0)40 - 292 55 00 T: +31 (0)76 - 579 27 00 Warwickshire, CV35 8AQ, United Kingdom [email protected] [email protected] T: +44 (0)1926 - 2 47 10 www.vdlagrotech.com www.vdlsteelweld.com [email protected] Equipment for intensive livestock keeping, including Design, production, installation and service of www.vdlsteelweld.com engineering and erection of complete turnkey robotised production automation systems with a Design, production, installation and service of projects. Manure drying tunnel. wide range of handling, assembly and connection robotised production automation systems with a joining techniques for industrial applications wide range of handling, assembly and connection including for the automotive industry. Also active in joining techniques for industrial applications product development, prototype manufacture and including for the automotive industry. Also active in production of special machines and series product development, prototype manufacture and production of mechatronic modules and systems production of special machines and series for applications in industrial vehicle technology production of mechatronic modules and systems such as automated guided vehicles (AGVs) and for applications in industrial vehicle technology agricultural vehicles. such as automated guided vehicles (AGVs) and agricultural vehicles.
72 73 FINISHED PRODUCTS
1997 2016 Sunbeds and car roof boxes
VDL Steelweld GmbH VDL Steelweld California LLC 1996 Managing Director: Peter de Vos Managing Director: Mark Bakermans Max Planck Straße 38 1880 Milmont Drive VDL Hapro bv 50858 Cologne, Germany Milpitas CA 95035, USA Managing Director: Dick van de Linde T: +49 (0)2234 - 988 23 110 T: +1 510 996 46 60 Fleerbosseweg 33 [email protected] [email protected] 4421 RR Kapelle, the Netherlands www.vdlsteelweld.com www.vdlsteelweld.com T: +31 (0)113 - 36 23 62 Design, production, installation and service of Design, production, installation and service of [email protected] robotised production automation systems with a robotised production automation systems with a www.vdlhapro.com wide range of handling, assembly and connection wide range of handling, assembly and connection Development, production, assembly and sales of joining techniques for industrial applications joining techniques for industrial applications sunbeds, skin improvement equipment, car roof including for the automotive industry. Also active in including for the automotive industry. Also active in boxes, roof / bike carriers as well as matching product development, prototype manufacture and product development, prototype manufacture and accessories and water purification systems for production of special machines and series production of special machines and series swimming pools and ponds. production of mechatronic modules and systems production of mechatronic modules and systems for applications in industrial vehicle technology for applications in industrial vehicle technology such as automated guided vehicles (AGVs) and such as automated guided vehicles (AGVs) and agricultural vehicles. agricultural vehicles. Heat exchangers
2014 2016 1998 VDL Steelweld AB VDL Steelweld Michigan LLC VDL Klima bv Managing Director: Peter de Vos Managing Director: Mark Bakermans Managing Director: Wim Jenniskens Flygfältsgatan 16A 1095 Crooks Road - Suite 400 Meerenakkerweg 30 423 37 Torslanda, Göteborg, Sweden Troy MI 48084, USA 5652 AV Eindhoven, the Netherlands T: + 46 (0)733 90 90 83 T: +1 804 275 80 67 T: +31 (0)40 - 298 18 18 [email protected] [email protected] [email protected] www.vdlsteelweld.com www.vdlsteelweld.com www.vdlklima.com Design, production, installation and service of Design, production, installation and service of Development and production of heat exchangers robotised production automation systems with a robotised production automation systems with a (incl. air/air coolers, air/water coolers, box coolers, wide range of handling, assembly and connection wide range of handling, assembly and connection shell and tube heat exchangers) and ventilation joining techniques for industrial applications joining techniques for industrial applications systems for various applications such as electrical including for the automotive industry. Also active in including for the automotive industry. Also active in propulsion systems and power generators, product development, prototype manufacture and product development, prototype manufacture and transformers and converters. production of special machines and series production of special machines and series production of mechatronic modules and systems production of mechatronic modules and systems 1998 for applications in industrial vehicle technology for applications in industrial vehicle technology such as automated guided vehicles (AGVs) and such as automated guided vehicles (AGVs) and VDL Klima Belgium nv agricultural vehicles. agricultural vehicles. Managing Director: Wim Jenniskens Industriestraat 13 2015 2016 3930 Hamont-Achel, Belgium T: +32 (0)11 - 80 47 00 VDL Steelweld (Suzhou) Automotive VDL Steelweld South Carolina LLC [email protected] Automation Production Line Co., Ltd. Managing Director: Mark Bakermans www.vdlklima.com Managing Director: Peter de Vos 1875 East Main Street - Suite 11 Production company of VDL Klima products. Unit A1505, 4th of Suzhou International Science Park Duncan SC 29334, USA No. 1355 Jinji Lake Avenue T: +1 804 275 80 67 1998 215021, SIP Suzhou, China [email protected] T: +86 (0)512 8817 4337 www.vdlsteelweld.com VDL Klima France sarl [email protected] Design, production, installation and service of Managing Director: Pascal Pécuchet www.vdlsteelweld.com robotised production automation systems with a Business Park Bat H Design, production, installation and service of wide range of handling, assembly and connection 87 Rue du Molinel robotised production automation systems with a joining techniques for industrial applications 59700 Marcq en Baroeul, France wide range of handling, assembly and connection including for the automotive industry. Also active in T: +33 (0)320 - 65 91 65 joining techniques for industrial applications product development, prototype manufacture and [email protected] including for the automotive industry. Also active in production of special machines and series www.vdlklimafrance.com product development, prototype manufacture and production of mechatronic modules and systems Development and sales of heat exchangers and production of special machines and series for applications in industrial vehicle technology cooling units for the electromechanical industry and production of mechatronic modules and systems such as automated guided vehicles (AGVs) and other industrial applications. for applications in industrial vehicle technology agricultural vehicles. such as automated guided vehicles (AGVs) and agricultural vehicles.
74 2000 Container handling equipment
VDL KTI nv 1999 2014 Managing Director: William van Hout Nijverheidsstraat 10 VDL Containersystemen bv VDL Translift bv Industrial Area II Managing Director: Frans van Dommelen Managing Director: Rolf-Jan Zweep 2400 Mol, Belgium Industrieweg 21 Staalwijk 7 T: +32 (0)14 - 34 62 62 5527 AJ Hapert, the Netherlands 8251 JP Dronten, the Netherlands [email protected] T: +31 (0)497 - 38 70 50 T: +31 (0)321 - 38 67 00 www.vdlkti.be [email protected] [email protected] Development and production of parts for industrial www.vdlcontainersystemen.com www.vdltranslift.nl furnaces (convection/radiation), as well as complete Development, production, sales, repair and Development, production, assembly, sales and furnace modules, pressure vessels, heat exchangers, installation of hydraulic container handling systems services of waste collection systems. The company skids and separation modules for the chemical, (hooklift systems, skiploaders and cable and chain has its own line of innovative side-loader systems petrochemical, oil and gas industry. Production of installations), container trailers and containers. for optimisation of collection from above ground high-voltage masts. Development, production, sales and repair of and underground refuse containers. spreaders and automated guided vehicles (AGVs) 2003 for handling 20 - 45 feet ISO containers.
VDL Delmas GmbH 2001 Managing Director: Jörg Nelius Kienhorststraße 59 VDL Containersysteme GmbH 13403 Berlin, Germany Managing Director: Frans van Dommelen T: +49 (0)30 - 438 09 20 Oberer Westring 2 [email protected] 33142 Büren, Germany www.vdldelmas.de T: +31 (0)497 - 38 70 50 Development, production and delivery of heat [email protected] exchangers, cooling units and related aggregates www.vdlcontainersystemen.com for industrial applications. Sales and after sales of container handling equipment in Germany.
74 75 FINISHED PRODUCTS
Suspension systems Cigar-making and packaging machines Systems for the industrial sector
2001 2003 2007 VDL Weweler bv VDL PMB-UVA bv VDL Industrial Products bv Managing Director: Dick Aalderink Managing Director: Marius Ponten Managing Director: Carlos Ooijen Ecofactorij 10 Langendijk 10 Hoevenweg 3 7325 WC Apeldoorn, the Netherlands 5652 AX Eindhoven, the Netherlands 5652 AW Eindhoven, the Netherlands T: +31 (0)55 - 538 51 00 T: +31 (0)40 - 282 50 00 T: +31 (0)40 - 292 55 80 [email protected] [email protected] [email protected] www.vdlweweler.nl www.vdlpmbuva.com www.vdlindustrialproducts.com Development, production and sales of air spring Development, production, sales and service for the Sales and service of components for dust extraction and axle lift systems for manufacturers of axles, packaging and tobacco industries. Vertical film installations and bulk material handling such as trailers, trucks, buses and coaches. packaging machines for food, animal feed, modular tube systems, rotary valves, fans, cyclones, detergent sectors and the grain industry. Machines diverter and butterfly valves and vibrating 2001 for cigar production and packaging. conveyors. Also sales and service of complete systems for explosion and fire-protection of VDL Weweler Parts bv 2003 industrial processes and security solutions for Managing Director: Danny Orgers buildings and sites. Kanaal Zuid 120 VDL USA, Inc. 7332 BD Apeldoorn, the Netherlands Managing Director: Bart van Lieshout T: +31 (0)55 - 538 04 00 8111 Virginia Pine Ct. [email protected] Richmond VA 23237, USA Sales office www.vdlwewelerparts.nl T: +1 804 - 275 80 67 Distribution of high-quality technical components [email protected] 2010 for trucks, trailers, semi-trailers and buses. www.vdlusa.com Sales and service of VDL products in North America. VDL Middle East fzCo 2001 Managing Director: Rémi Henkemans 5WA (West Ring) VDL Weweler-Colaert nv Dubai Airport Free Zone, Managing Director: Jacques Colaert United Arab Emirates Beneluxlaan 1-3 Sales, after sales and service of VDL products in the 8970 Poperinge, Belgium Middle East. T: +32 (0)57 - 34 62 05 [email protected] www.weweler.eu Development, production and sales of leaf and parabolic springs for the automotive industry. Distribution of high-quality technical components for trucks, trailers, semi-trailers and buses.
2001 Truck & Trailer Industry AS Managing Director: Øyvind Stenersen Persveien 20 0581 Oslo, Norway T: +47 (0)23 - 03 96 00 [email protected] www.tti.no Sales from four offices in Norway of VDL Weweler suspension systems and spare parts for trucks, trailers and buses.
76 COLOPHON
Production and composition: VDL Groep, Communication Department
Design: studio FRIS, Chris van der Horst Photography: Jacqueline de Haas, Bram Saeys Print: Gielen Druk Print Webmedia VDL GROEP ANNUAL REPORT 2016