Liebherr Group has achieved a record turnover of €12.5 billion ($13.6 billion) for the year 2022 – an increase of €950 million ($1 billion), or 8.2 per cent compared to the previous year.
Despite the global economic slowdown caused by the pandemic and the rising food and fuel prices, the company achieved a significant increase in revenue in 10 out of its 13 product segments.
Liebherr said it recorded growth in seven product segments such as earthmoving, material handling technology, mobile and crawler cranes, concrete technology, and mining, among others, which generated a turnover of €8.5 billion ($9.2 billion), representing an increase of 6.9 per cent.
The remaining six product segments of maritime cranes, aerospace and transportation systems, gear technology, automation systems, refrigerators and freezers, components, and hotels recorded a turnover of €4 billion ($4.3 billion), an increase of 11 per cent compared to the previous year.
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The company’s highest sales region, the European Union, also saw slight growth, particularly in the Netherlands and Italy. Liebherr recorded strong growth in North America, Central and South America, Africa, and the Near and Middle East, while turnover in Asia and Oceania was slightly above the previous year’s level.
Liebherr generated a net income of €2 million ($2.17 million) in 2022, which is relatively lower than the previous year, and its operating results and financial result also decreased significantly.
The company anticipates further growth in turnover in 2023 after successful previous business years.
The cranes will be the first double trolley container cranes at CTW and will handle the world’s largest container vessels.
