Liebherr turnover tops 11 billion euros

LIEBHERR Group’s latest financial results show the business increased turnover to over 11 billion euros in 2019.

Revenue reached € 11,750 million, representing an increase of € 1,199 million or 11.4 % compared with the previous 12 months.

Liebherr said both the construction machinery and mining equipment divisions recorded overall increases in sales revenues, as did the other product areas. Revenues from construction machinery and mining equipment rose by 11.8 % to € 7,640 million.

The manufacturer attributed the growth to “very positive sales performance” in almost all sales regions including the EU.

The Liebherr Group achieved a net profit of € 429 million in 2019, an increase compared with the previous year. However, the operating result has fallen slightly. Employee numbers grew by 1,880 to 48,049 worldwide by the end of the year.

The business said the impact of coronavirus will ‘obviously influence’ the turnover in 2020, the extent of which cannot be reliably forecast at the moment. However, Liebherr said it will ensure that all organisational units have ‘implemented the necessary measures to guarantee that customer demands are met with the usual reliability’ and that the financial strength of the group enables a ‘rapid resumption of reduced activities in production, sales and service units’.