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Significant turnover boost for Liebherr Group
(Posted on 12/04/22)
In 2021, the Liebherr Group achieved a turnover of € 11,639 million. Compared to the previous year, the company posted an overall increase of € 1,298 million or 12.6 %. As a result, the Liebherr Group was almost able to match its previous record year in 2019 in terms of annual turnover.
The conditions in the past financial year were difficult for manufacturing companies. From the second quarter in 2021, to some extent, it was extremely difficult to procure various raw materials, components and electronic parts. This resulted in price increases and bottlenecks in the global supply chains. Despite that, Liebherr recorded a significant increase in sales revenues compared to the previous year. The Liebherr Group grew in eleven of its 13 product segments and in almost all of its sales regions.
Revenues in the material handling technology, earthmoving, 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. In the other product segments, including maritime cranes, aerospace and transportation systems, gear technology and automation systems, refrigerators and freezers, as well as components and hotels, Liebherr achieved total revenues of € 3,630 million, a 3.9 % increase compared to the previous year.
Sales increased in the European Union, which has traditionally been the Group's strongest sales region. High growth rates were recorded in almost all EU markets, with France in particular showing above average development. Outside the EU, there was a marked rise in sales in the United Kingdom, among other regions. Positive development was also seen in North America, as well as Central America and South America, where strong growth came especially from Brazil. The Liebherr Group faced declines in Africa, as well as in the Near and Middle East, whereas the financial year in Asia and Oceania ended with a moderate rise.
In 2021, the Liebherr Group achieved a net profit for the year of € 545 million, a value above the level before the pandemic. Operating results and the financial result grew considerably compared to the previous year. The 2021 business year also saw a significant increase in the number of employees. At the end of the year, the Liebherr Group employed 49,611 people worldwide. Compared to the previous year, this constituted an increase of 1,686.
As a technology company, the Liebherr Group pursues the goal of making a decisive contribution to technological progress in the sectors relevant for the Group. Liebherr invested € 559 million in research and development last year. The bulk of this was used in the development of new products. Numerous cooperative ventures with universities, or higher education institutions and research institutes were initiated or continued.
Digitalisation was another focal point of R&D activities. Among others, a new range of refrigerators and freezers with resource-friendly freshness technology and digital networking was launched. In addition, in several product segments, the existing technologies were optimised for remote control, automation and networking and the Liebherr-Remote-Service App was extended. It is also worth highlighting the development of two assist systems for mining trucks, which offer automatic steering assistance, reduce the strain on the driver, and lower fuel consumption.
The Liebherr Group has started 2022 with a very good order situation.
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