TBI annual figures 2023

TBI has an excellent year and chooses to focus even more on 'we-profit'and the long term

TBI achieved excellent results in 2024. The order book grew by 16% to €4.8 billion, and the operating result before depreciation (EBITDA) increased by 25% to €144 million. The operating margin also improved, reaching 5.5% (2023: 4.5%). However, according to our CEO, Hendrik de Haan, the greatest gain for our group lies in what we at TBI, since our recent repositioning, have come to call ‘we-profit’: our social return.

Hendrik: “We’re seeing tremendous growth in the number of projects, partnerships, and solutions through which we’re making a significant contribution to accelerating the energy and circular transitions, providing affordable housing, and improving our infrastructure. Promoting biodiversity, inclusion, and equal opportunities is simply a given for us. It is in this creation of societal value that the true profit of TBI lies—as a steward-owned collective of companies in technology, construction & development, and infrastructure. Because it is precisely this value that defines our relevance—and thus our purpose—over the long term.”

The Balancing Act: Reciprocity

“In 2024, we once again demonstrated that our governance and financials are in excellent shape,” says Emiel Roozen, member of the Executive Board. “This creates space for reciprocity: reinvesting profits into key societal goals and enabling sustainable innovation and social return. Through our social funds alone – TBI Klimaattrein, TBI Praktijkfonds and TBI Studiefonds – we reinvested €7.1 million in societal initiatives during the past financial year, more than 22% up from 2023. And that amount could grow significantly in the coming years.”

For each other, for the world

TBI does not see its societal spending as philanthropy or greenwashing, but as crucial reinvestments in a livable, sustainable future — for everyone, including the TBI companies themselves, the entrepreneurs and skilled workers, the clients, and the partners. Executive Board member Bianca Seekles explains: “In the recently completed repositioning vof TBI, we’ve given our principle of reciprocity — the ‘balancing act’ — a much more prominent role and meaning. Giving back for what you receive: that is very much in TBI’s DNA. Not just taking, but especially giving back. To each other, to the planet, to nature, and to society. As a steward-owned collective of companies with a single socially oriented shareholder, Stichting TBI, we are uniquely positioned to prioritize social impact and long-term value creation.”

Solid foundation

Thanks to a well-filled order book, TBI companies are well positioned to make a positive impact in the coming years alongside their clients. For TBI’s technology companies, there are major opportunities in the energy transition and the expansion of electricity grids. Croonwolter&dros, TBI’s largest company, is helping to address grid congestion issues, including through a multi-year contract with grid operator TenneT. TBI's construction companies are primarily focused on delivering affordable housing. In the infrastructure segment, there is substantial work to be done in the renovation and maintenance of roads and bridges, as well as in major infrastructure projects such as the A16 in Rotterdam, where Mobilis and Croonwolter&dros are collaborating. This new stretch of motorway will greatly enhance the accessibility and livability of the region.

Hendrik de Haan: “Our order book shows a well-balanced distribution across the segments of technology, construction & development, and infrastructure. That provides a strong foundation for 2025. The projected business revenues for 2025 are largely secured as a result.”

Positive outlook 

The year 2025 will undoubtedly bring economic and (geo)political uncertainties, new divides, and fresh challenges. “Many of these factors can impact our sectors and activities,” notes Emiel Roozen. “But our collective is strong and agile enough to deliver solid financial performance even under challenging and shifting conditions.”
“We remain fully committed to our social ambitions, which are by no means at odds with the pursuit of healthy financial growth,” says Bianca Seekles. “With modular construction and our contribution to solving grid congestion, we’re showing that financial and societal returns can absolutely go hand in hand. Transforming, making more sustainable, and densifying existing urban neighborhoods—alongside social innovation—also presents major opportunities for many TBI companies.”

Skilled Professionals Make the Difference

To tackle the major challenges facing the Netherlands, we need many more skilled professionals. Attracting and retaining talent is therefore one of our biggest challenges. A shortage of personnel delays projects and hampers sector growth. High turnover also undermines continuity and the preservation of craftsmanship. The demand for skilled professionals remains high, particularly due to the growing need for sustainability, maintenance, and the energy transition. That’s why we are already investing heavily in the professionals of the future, including through the TBI Praktijkfonds.

Sustainability Unwaveringly at #1

In 2024, it became even more evident that TBI companies don’t just talk the talk—they act. By collectively focusing on a number of jointly defined themes, valuable synergy and collaboration arise between companies and throughout their supply chains, enabling significant progress on urgent challenges like CO₂ reduction and circular construction. Hendrik de Haan: “We are especially proud of the encouragement award we received from Cobouw in 2024 for being the most sustainable builder, the Cobouw SDG Award. The jury praised TBI for embedding sustainability as a core value in its strategy and operations.”

Groene parels 

As an example of a “green gem,” Hendrik de Haan highlights the construction of the 100-meter-high residential tower Justus in Amsterdam by TBI companies J.P. van Eesteren and Giesbers InstallatieGroep. With 289 energy-efficient apartments, Justus stands as a new icon for the city and the neighborhood.
Hendrik de Haan: “We’re proud to contribute to easing the housing shortage with such a sustainable project. All apartments are aimed at middle-income earners, with a portion specifically reserved for people in essential professions. Justus creates movement in the housing market and new opportunities for people who rely on the city for their careers and development.”
In the technology segment, there’s also major progress in sustainability. Take, for example, our heating company Jord, which supplies fossil-free, clean heat—a great example of how we’re helping to make the built environment more sustainable.

Another example is the timber high-rise project SAWA in Rotterdam by TBI company ERA Contour, where reducing the carbon footprint and creating a healthy, nature-inclusive living environment are central. Hendrik de Haan: “We’re also incredibly proud of the  B Corp certification that ERA Contour received in 2024. Projects like SAWA show exactly why they earned it.”

Collaboration and Synergy

Although all TBI companies operate independently — and therefore define their own strategies — there are also shared frameworks and themes, particularly in the area of sustainability. Since the TBI companies have aligned their own sustainability visions and policies with these frameworks, more and more synergy and collaboration are emerging, enabling knowledge-sharing on topics such as sustainable material selection, circular design, circular business operations, sustainable energy solutions, and zero-emission construction.

One of the most tangible examples of collaboration within TBI is undoubtedly TBI WOONlab, where TBI’s three residential construction companies — ERA Contour, Hazenberg, and Koopmans Bouwgroep — are working together on sustainable, rapidly producible housing concepts. Over the past year, this collaboration introduced the first CO₂-lings: low-carbon versions of proven and popular housing labels such as beterBASIShuis and lekkerEIGENhuis. Collaboration is also increasing at the project level. A great example is the iconic Binnenhof, involving J.P. van Eesteren, Croonwolter&dros, and Nico de Bont.

Other themes and focus areas are also being addressed across TBI. For example, all TBI companies are phasing out fossil diesel. For heavy equipment, we are transitioning to electric alternatives or the sustainable, plant-based HVO100 fuel, which is made entirely from natural products. This biofuel reduces the CO₂ emissions of heavy equipment, including construction cranes and large trucks, by up to 90%. The electrification of our vehicle fleet is also progressing well: by the end of 2024, 55% of our vehicles were electric (2023: 37%).

Additionally, TBI companies are increasingly building in ways that allow for disassembly, using timber and/or low-carbon concrete. Projects like KJ Den Haag by TBI companies Synchroon and J.P. van Eesteren show how nature and climate can be smartly balanced even in dense urban environments, creating significant collective value.