Liebherr Group reports over 10 billion euro turnover in 2018

Liebherr Group reports over 10 billion euro turnover in 2018
Published: 7 April 2019 - 2:45 p.m.
By: PMV Staff

The Liebherr Group notched up a turnover of €10.551 million ($11.7 billion) 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 the Liebherr Group. Both the construction machinery and mining equipment divisions recorded overall increases in sales revenues, as did the 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. In the other product areas, which include maritime cranes, aerospace and transportation systems, gear technology and automation systems, domestic appliances, components and hotels divisions, turnover rose by a total of 2.0% to €3,718 million.

Record sales generated in 2018 can be attributed to the very favourable economic conditions and higher demand in several sales regions. Sales continued to increase within the European Union, which is Liebherr’s most important sales region. This can be attributed, among other things, to renewed growth in Germany, which is Liebherr’s largest market, and to the positive economic situation in France and Great Britain. In the non-EU countries sales revenues fell in EUR terms compared to the previous year, mainly due to the development of the currency exchange rate in Russia. 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 USA, Australia and China.

The Liebherr Group achieved a net profit of €321 million in 2018, slightly above the previous year’s level. The operating result remained stable compared to the previous year. The financial result declined, mainly due to negative effects of currency movements.

The 2018 business year saw a significant increase in the workforce. At the end of the year, the Liebherr Group had a total of 46,169 employees worldwide. Compared to the previous year, this constituted an increase of 2,300.

Click here to add your comment

Please add your comment below
Your email address will not be published