Annual report 2012 - VDL

TURNOVER PER COUNTRY
(in million euro)
Netherlands 531
Germany 262
United Kingdom 138
Belgium 107
Singapore 81
France 65
USA 51
Sweden 44
Denmark 35
Norway 32
Finland 31
Jamaica 30
Switzerland 23
Poland 21
Italy 15
Czech Republic 14
Israel 12
Others 137
Divisions
If the combined turnover of VDL Groep is broken down according to the divisions subcontracting, buses &
coaches and finished products, we see that the decline in subcontracting was compensated by a rise in the
contribution from the other divisions. With the acquisition of NedCar at the end of 2012, a new division
was added: car assembly.
2012 2011
million euro % million euro %
Subcontracting 788 45 918 53
Car assembly 70 4 - -
Buses & Coaches 431 24 405 24
Finished products 467 27 396 23
1,756 1,719
Subcontracting
Turnover in the subcontracting division fell from 918 million euro in 2011 to 788 million euro in 2012. This
14% decline in turnover was mainly due to the downturn in the semiconductor and solar energy markets. The
result from the subcontracting division in 2012 was positive, but less so than in 2011. The order book shrunk
from 235 million euro to 193 million euro as at year end.
The turnover in the subcontracting division fell 17% in the first quarter of 2013, from the first quarter 2012
figure of 210 million euro to 175 million euro. The order book in week 13 was at 211 million euro, which is
also significantly lower than for the same week last year (240 million euro). If we look at the development of
the turnover and order book over the past half year, however, we see they have been fairly stable. The
semiconductor market, which has been on the decline since the second half of 2012, now seems to be growing
again. VDL expects the turnover of the subcontracting division to stabilize in 2013.
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