by Kyle Molyneux | Tue 07 Apr 2020
Liebherr achieves revenue record
The Liebherr Group reported record sales in 2019, with revenues of €11.75 billion. This represents an increase of almost €1.2 billion, or 11.4%, compared with the previous year. The Group owes its success from last year to an increase in sales in all regions (+10.5%). Within the European Union, traditionally the Group’s strongest market, sales rose once again. This is especially due to favourable growth in Germany and France, as well as in other countries including Spain and Denmark. There was also a significant increase in sales in other European countries, driven in part by strong growth in Russia and Norway.
The most significant gains were in North America (+23.5%), where sales rose in the US as well as Canada. There were similar positive developments in Central and South America (-2.4%) as well as Asia and Oceania (+11%). Performance was especially bolstered by strong growth in Panama, Australia, China and Japan. Although not as strong as in other regions, there was still growth in Africa and the Near and Middle East (+4.1%).
Despite political instabilities and the general decline in economic growth, the Liebherr Group managed to break its own sales record for the third year in a row. Growth was evenly distributed among the Construction Machines and Mining divisions, along with the other product areas. The Group’s sales in construction and mining machinery reached €7.64 billion, an €807 million (+11.8%) increase compared to the year before. This included the Earthmoving, Mobile Cranes, Tower Cranes, Concrete Technology and Mining. For the other product areas, including the Maritime Cranes, Aerospace and Transportation Systems, Machine Tools and Automation Systems, Household Appliances as well as the Components and Hotels divisions, combined sales reached €4.11 billion, a €392 million (+10.5%) increase over the year before.
Considering the new financial year, Willi Liebherr, President of the administrative board of Liebherr-International AG, commented: “Before the occurrence of the corona virus, we assumed stable turnover for the 2020 financial year. In the meantime, we have to expect a decline in turnover due to the pandemic. We are able to rely on our key strengths at this time, which include our financial autonomy, decentralised corporate structure and broad product portfolio that is structured according to country and market. The Liebherr Group is well positioned to overcome the challenges we will face during and after the coronavirus pandemic.”
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