Germany: Liebherr Back on Growth Course

The Liebherr Group benefited from the worldwide business recovery in the 2010 business year and resumed its growth. Total turnover rose by 626.0 million € or 9.0 % to 7,587.0 million €.

This growth derived exclusively from the Group’s construction machinery area, in which it proved possible to increase sales revenues by 655.3 million € or 16.0 % to 4,744.2 million €.

Sales revenues from the earthmoving and mining division increased in a gratifying manner by 602.6 million € or 33.3 %, to 2,412.7 million €. Worldwide sales revenues from mobile and crawler cranes increased by 47.2 million € or 2.7 % to 1,811.8 million €. The construction cranes and mixing technology division increased its sales revenues slightly, by 5.5 million € or 1.1 % to 519.7 million €.

After the previous year’s downturn, the proportion of total Group turnover accounted for by the construction machinery divisions rose again from 58.6 % to 62.5 %.

Sales revenues from product divisions outside the construction industry totalled 2,842.8 million € and were therefore just 1.0 % or 29.3 million € below the previous year’s figure. However, this stagnation does not adequately represent actual development within these individual divisions, since this is attributable above all to the severe drop in turnover from the Group’s other products and services, including the completion of large-scale projects. In this business area, sales revenues fell by 30.4 % or 134.9 million € to 308.5 million €. All other product divisions almost matched the previous year’s level or were able to increase their turnover.

The maritime cranes division, for example, recorded most welcome growth, of 9.2 % or 61.6 million € to 729.6 million €, thus exceeding sales revenues even in 2009, a strong business year.

Turnover from sales of refrigerators and freezers also increased noticeably. The domestic appliances division achieved an increase of 8.5 % or 64.2 million € in its total turnover, to 819.8 million €.

For the second year in succession, the machine tools and material-flow technology division was obliged to record a drop in turnover. Total sales revenues fell by 6.1 % or 10.7 million € to 165.6 million €, though the order situation improved noticeably in the course of the year.

Earnings by the aerospace and transportation systems division totalled 819.3 million €, and failed by only 1.1 % or 9.5 million € to equal the previous year’s total.

As the Liebherr Group grew in the course of the business year, the total workforce also became slightly larger. The 888 new jobs that were created worldwide increased the total workforce at the end of the year to 32,979 employees.

The Liebherr Group has made a good start in the new 2011 business year. The upward trend has continued in almost all product areas, enabling turnover to be increased by approximately 14 % in the first six months of the year. Once again, construction machinery grew more strongly than other product areas. For the 2011 business year as a whole, a gratifying increase in sales revenues, probably of more than 10 %, can therefore be expected. This growth will be accompanied by further additions to the workforce and by higher investments.

[mappress]

Source: Liebherr, July 15, 2011

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