We are pleased to present the online annual report of TruSteel Group. With this annual report we give account for our activities in the past financial year and explain our vision for the next years.

TruSteel Group achieved strong results in 2024 

Revenue increased by 40% to over €120 million, and return on equity rose to more than 16%. The non-residential construction sector delivered the strongest performance. Kampstaal and Kamplacon recorded revenue growth of approximately 60%, driven in part by successful data center projects both in the Netherlands and abroad. This is particularly notable, given that total commercial construction activity in the Netherlands shrank by 11%, according to the EIB.

Importantly, this growth was not achieved at the expense of quality or profitability. It was supported by continued investment in both technical and social innovation, including a Lean-project. That said, there were also challenges. Results declined in the civil engineering and mechanical construction segments. The national replacement and renovation program for bridges and locks has yet to gain real momentum, meaning that investments in MF Emmen and Nauta Heeg have not yet delivered the expected returns. Vossebelt also faced headwinds, including inflation and supply chain disruptions. Ongoing investments in process improvement and organizational development are expected to support recovery.

TruSteel Group is confident about the future

The order book grew by 20% at the end of 2024, reaching €141 million, mainly thanks to strong positions in utility construction and the data center sector. Initial successes have also been achieved in infrastructure and recycling. However, the market remains volatile. Geopolitical tensions are creating uncertainty and delaying investment decisions. As a result, we are slightly cautious in our outlook for 2025, but we remain optimistic about the future. TruSteel Group is financially healthy and holds substantial reserves. With a broad portfolio and the ability to share work and expertise across the group, we are well positioned to manage risks effectively. Backed by an experienced project management organization, international expertise, and solid operations, we are well prepared to realize our (international) ambitions. Our ambition is clear: by 2030, we aim to be the most sought-after steel processor and employer in the Netherlands, and to rank among the top 15 players in Western Europe.

Read it online!

Curious about our work? View our annual report 2024 and read what we have been working on in the past year, what successes we have achieved and what our plans are for the future.

Read the 2024 annual report here.