Liebherr sees sales rise for all construction sectors

The Liebherr group has announced that revenues in the earthmoving, material handling technology, deep foundation machines, mobile and crawler cranes, tower cranes, concrete technology and mining product segments were 17% higher than in the previous year at just over €8 billion (US$8.8 billion).

Sales in earthmoving equipment was €2.3billion (US$2.5 billion), a 15% increase from last year, while sales for mining was up 18.9% at €1.1 billion (US$1.2 billion) and sales for material handling technology saw a rise of 16.1% to €554 million (US$608 million).

Both tower cranes and mobile and crawler cranes also saw increases in sales, of 26.8% and 14.9% respectively.

Sales increased in the European Union, which has traditionally been the Group’s strongest sales region. High growth rates were recorded in almost all EU markets, with France in particular showing above average development.

Outside the EU, there was a marked rise in sales in the UK, among other regions. Positive development was also seen in North America, as well as Central America and South America, where strong growth came especially from Brazil. Liebherr faced declines in Africa, as well as in the Near and Middle East, whereas the financial year in Asia and Oceania ended with a moderate rise.

As a whole, the Liebherr Group achieved a net profit for the year of €545 million (US$598 million), a value above the level before the pandemic. Operating results and the financial result grew considerably compared to the previous year.

Liebherr noted that, regarding alternative drive technologies it takes a ‘technology neutral’ approach and in 2021 it worked on hydrogen-powered combustion engines and their injection technologies, as well as electric drives.

In its annual report Liebherr said that it ‘started 2022 with a very good order situation’ but added that the negative effects on the activities of the Liebherr Group due to the war in Ukraine can already be seen. The company added that challenges with increasing prices for goods and materials, as well as their lack of availability remain, as well as the continuing lack of skilled workers.

Read the annual report here.