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Liebherr has reported substantial growth in revenue in 2023 compared to 2022.
"The 2022 business year was characterized by high order backlogs and a long order time frame. In this situation, we were faced with considerable price increases for materials and energy. Interrupted and unreliable supply chains also caused us problems.” Jan Liebherr, president of the administrative board of Liebherr-International AG, said. “This situation stabilized in 2023. That enabled us to increase revenue significantly with relatively little additional outlay, which led to a much better operating result."
Across 11 out of its 13 product segments, the group observed notable increases in revenue, surpassing its own record set in 2022 by €1,453 million. Revenue in segments such as earthmoving, material handling technology, deep foundation machines and various crane categories totaled €9,557 million, marking an 11.6% increase from the previous year. Additionally, revenue in other sectors including maritime cranes, aerospace, transportation systems, and refrigeration reached €4,485 million, reflecting an 11.3% increase compared to the previous year.
Positive growth was evident across nearly all sales regions, notably within the European Union, where Liebherr traditionally enjoys strong sales. Germany, France, and Spain notably contributed to this growth. Although there was a slight decline in non-EU countries, North America, Asia, Oceania, as well as the Africa, Near and Middle East region all displayed encouraging revenue growth. Central and South America maintained revenue levels similar to the previous year.
In terms of financial performance, Liebherr achieved a net income of €367 million in 2023. Both earnings before interest and taxes (EBIT) and the finance result exhibited significant improvements. Furthermore, the company's workforce expanded, with a total of 53,659 employees worldwide by the end of the year, representing an increase of 2,338 from the previous year.
