In line with expectations, 2024 was less successful for VDL Groep than the previous year. Events which had an immediate impact converged: the winding down at VDL Nedcar, headwinds from material shortages and subsequently delayed deliveries of buses, stagnating market developments and increased costs (for wages, energy, interest, legislation). After a poor first six months, operating results showed signs of recovery during the second half of 2024. Excluding the Car Assembly division, annual turnover is the highest ever. Sales are expected to remain the same in 2025, with further recovery of the operating results.