THE Liebherr Group has announced a new record turnover of €12,589 million in 2022 – a rise of 8.2%.
The business revealed it achieved increased turnovers in 10 of its 13 product segments, surpassing the previous record turnover from 2021 by €950 million.
Turnover in the product segments of earthmoving, material handling technology, deep foundation machines, mobile and crawler cranes, tower cranes, concrete technology and mining totalled €8,561 million – 6.9% higher than last year.
In the product segments of maritime cranes, aerospace and transportation systems, gear technology and automation systems, refrigerators and freezers, components, and hotels, Liebherr achieved an 11% rise in turnover to €4,028 million.
Liebherr explained that turnover increased slightly in the EU, which is traditionally the group’s strongest region. Growth rates in the EU markets were described as ‘varied’, with business developing positively in the Netherlands and Italy in particular.
The group witnessed ‘strong growth impulses’ coming from the USA, Canada, and Brazil. There was also an increase in sales in Africa as well as in the Near and Middle East. Turnover in Asia and Oceania was slightly above the previous year’s level.
The Liebherr Group achieved a net income of €2 million. The business said operating results and the financial result decreased ‘significantly’ compared to the previous year. The number of employees grew to 51,321 worldwide – an increase of 1,710.
In terms of outlook, Liebherr said it has started 2023 with a ‘positive order situation’. With the ongoing war in Ukraine, however, the group said there remains ‘great uncertainty’ as to whether and to what extent a gradual easing will occur, whether the sanctions will remain in force, and whether a gas shortage, which would result in rationing, can be avoided.
At the same time, there are macroeconomic uncertainties about the duration and distribution of the expected decline in economic activity in Europe, the duration of broad price increases in goods and services, and the scarcity of certain raw materials and labour. The same applies to bottlenecks in different supply chains.
Macroeconomically, however, Liebherr said lower inflation may reduce uncertainties and increase demand for the group’s products and services.
Liebherr expects further growth in turnover in 2023.
