Liebherr turnover increases 12.6% despite price rises and supply chain ‘bottlenecks’

THE Liebherr Group has announced turnover rose 12.6% in 2021 to €11,639 million. Net profit for the year was €545 million – a value above the pre-pandemic level.

Despite price increases and bottlenecks in global supply chains, the business revealed that it grew in eleven of its 13 product segments and in almost all of its sales regions.

Liebherr reported 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 €8,009 million.

There was a ‘marked rise’ in sales in the UK, the manufacturer added, with ‘high’ growth rates recorded in almost all EU markets, with France in particular showing above average development.

In terms of outook, Liebherr said it has started 2022 with a ‘very good order situation’. Opportunities arise from the expected increase in demand in the various industrial sectors in which the Liebherr Group is active. However, the negative effects on the activities of the group due to the war in Ukraine can already be seen. Liebherr revealed it is monitoring and assessing the current situation in Ukraine and Russia on a daily basis and is currently in the process of adjusting its Russian activities to the sanctions imposed on the country.

There are also still uncertainties with regard to the pandemic-related restrictions, the effects of price increases for many goods and services, shortages of certain raw materials, a lack of skilled workers, and bottlenecks in different supply chains, Liebherr added. Despite the conditions, Liebherr concluded that it is ‘cautiously optimistic’ about the rest of the year.