Liebherr generated a record €14.6 billion ($25.3 billion) in revenue for the 2024 business year, a 4.1 per cent increase from the previous year.
Liebherr achieved sales growth in seven of its 13 product segments.
The original equipment manufacturer’s construction machines and mining business area grew by 3.5 per cent, realising approximately €9.9 billion ($17.1 billion) in revenue.
Liebherr also saw revenue increases in Asia and Oceania, primarily driven by the development in Australia and Japan.
Despite solid performances in the Netherlands, Spain, Portugal and the UK, Liebherr’s business in Europe experienced a slight downward trend. The company’s revenue was also lower than previous years in Central and South America.
“By contrast, revenue in North America and in the Africa, Near and Middle East region increased, with countries such as the US, Canada and South Africa particularly notable,” Liebherr said.
Liebherr’s net income for 2024 equalled €258 million ($447 million), and it recruited 1069 more employees, bringing the company’s total to 54,728.
Research and development was a highlight for Liebherr, investing €666 million ($1.1 billion) – majority of which contributed to new product development.
Like the previous year, Liebherr is predicting that uncertain economic conditions will remain a challenge in 2025.
“Further to this, some industries are facing high-cost pressure to offer products and services at competitive prices, all while operating in a challenging competitive landscape,” Liebherr said.
“Nonetheless, the group is in a good position, with its innovative products and solutions, long-standing customer relationships, international setup and decentralised, diversified structure.
“The group started the current business year with a solid overall volume of orders, even though demand across the 13 product segments was, in some cases, wildly variable.
“Liebherr considers itself in a good position and has a positive outlook for the future.”