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The Liebherr Group ended 2024 with a revenue of $15.8 billion (€14.6 billion), marking an increase of $623 million (€580 million) or 4.1% compared to the previous year.
In 2024, Liebherr recorded its highest-ever revenue in company history. While this growth was lower than the company’s five-year average, seven of its 13 product segments saw sales increases.
Demand in the construction sector, especially in Germany, remained subdued, but this was offset by strong performance in other areas, particularly mobile cranes and aerospace components. Growth was also driven by strong order books in mining and gear technology.
Liebherr’s construction and mining sector grew by 3.5%, generating $10.7 billion (€9.9 billion) in revenue. This segment includes earthmoving, material handling, deep foundation machines, mining equipment, cranes and concrete technology.
Meanwhile, other product areas — including maritime cranes, aerospace and transportation systems, gear technology, automation systems, refrigerators and freezers, components and hotels — reached $5.1 billion (€4.7 billion) in revenue, an increase of 5.5% over 2023.
Regional sales trends varied. Asia and Oceania saw revenue growth, driven by strong markets in Australia and Japan.
In Europe, sales declined slightly despite strong performance in the Netherlands, Spain, Portugal and the United Kingdom.
Revenue also dropped in Central and South America. However, North America and the Africa, Near and Middle East regions posted growth, with notable gains in the U.S., Canada and South Africa.
Liebherr closed the year with a net income of $278 million (€258 million). While the operating result improved, the financial result fell below the previous year’s level.
Additionally, the company expanded its global workforce, reaching 54,728 employees, an increase of 1,069 from the previous year.
Focus on Alternative Drives and Digitalization
Liebherr continues to prioritize technological innovation, investing $720 million (€666 million) in research and development in 2024.
Most of this funding supported new product development, with a strong focus on alternative drive technologies, digitalization and automation.
The company is advancing solutions such as electric drives, hydrogen combustion engines and alternative fuels to help customers meet emissions targets.
In 2024, Liebherr unveiled the first prototype of the L 566 H large wheel loader with a hydrogen combustion engine and began series production of the LPO 100 mobile energy storage system.
The company also launched the LTC 1050-3.1E hybrid crane, which operates on battery power alone.
Liebherr is also making strides in automation.
The LiReCon teleoperation unit entered series production, and the company won an award for its battery pack disassembly automation solution.
In 2025, Liebherr will introduce its Autonomous Operations system at bauma 2025, a solution designed for fully driverless operation in repetitive or hazardous environments.
In the digital space, Liebherr expanded Liebherr Connect, a machine networking platform, and strengthened its information technology security and artificial intelligence capabilities with a dedicated competence center.
High Investment in Production, Sales and Service
Liebherr invested $1.07 billion (€989 million) in expanding production, sales and service networks in 2024.
Key projects included:
Outlook for 2025
Liebherr anticipates economic uncertainty in 2025, which could impact investment trends.
Some industries are under cost pressure, requiring competitive pricing and efficiency improvements. However, Liebherr expects moderate growth, driven by aerospace, mining and strong demand in Australia and North America.
On April 2, 2025, Liebherr will release its annual report, including financial details and an interview with company leaders Jan Liebherr and Philipp Liebherr.
The full report is available on the company’s website.
