Record year for the Liebherr Group
Company achieves more than €10 billion in annual turnover for the first time in its history
THE Liebherr Group achieved a turnover of €10,551 million in 2018, breaking through the €10 billion barrier for the first time in the company’s history. This represents an increase of €739 million, or 7.5%, compared with the previous year.
Despite a slight decline in overall economic growth, 2018 was a record year for Liebherr with both the construction machinery and mining equipment divisions recording overall increases in sales revenues, as did the Group’s other product areas overall.
Revenues from construction machinery and mining equipment rose by 10.8% to €6,833 million, with especially strong contributions from the earthmoving, mobile cranes and mining divisions, whilst the Group’s other product areas saw turnover rise by 2.0% to €3,718 million.
According to Liebherr, the record sales generated in 2018 can be attributed to very favourable economic conditions and higher demand in several EU regions, including Germany, France and Great Britain. The business also performed very positively in North America, Central and South America, and Asia and Oceania, driven in particular by the markets in the US, Australia and China.
The Group achieved a net profit of €321 million in 2018, slightly above the previous year’s level, whilst the operating result remained stable compared with 2017. Last year the business also saw a significant increase in the workforce. At year-end 2018, the Group had a total of 46,169 employees worldwide – an increase of 2,300 on the 2017 figure.
Liebherr increased their investment activities by €51 million in 2018, compared with the previous year. Some €586 million was invested in R&D, the bulk of which was used in the development of new products, and €829 million was invested in the Group’s production sites and global sales and service network.
A new development and exhibition centre was opened in Kirchdorf an der Iller, Germany, where new construction and material handling machinery will be developed, tested and inspected, and construction has also started on a new logistics centre.
In addition, the Group has invested in Bad Schussenried, Germany, which will serve as a new manufacturing site for concrete pumps. New production lines for large engines are also being set up in Bulle, Switzerland, and Colmar, in France.
With further growth anticipated this year, the Group says it expects sales revenues to continue to rise in 2019.