Liebherr, a global leader in the manufacturing of high-quality construction machinery and other technological solutions, has announced another record-breaking revenue year for 2023. The group achieved an unprecedented increase in revenue across 11 of its 13 product segments, surpassing the previous year’s record by €1,453 million.
In 2023, Liebherr’s revenue reached €9,557 million in its core segments including earthmoving, material handling technology, deep foundation machines, mobile and crawler cranes, tower cranes, concrete technology, and mining. This represents an 11.6% increase over the previous year. Additionally, in other segments such as maritime cranes, aerospace and transportation systems, gear technology, and automation systems, refrigerators and freezers, components, and hotels, the company reported revenues of €4,485 million, marking an 11.3% increase from 2022.
The growth was particularly strong in the European Union, Liebherr’s largest market, with notable revenue increases in Germany, France, and Spain. However, there was a slight decline in non-EU countries. North America, Asia, and Oceania also showed significant growth, as did the Africa, Near and Middle East regions. Revenue in Central and South America remained stable compared to the previous year.
Liebherr’s net income for 2023 was reported at €367 million, with both earnings before interest and taxes (EBIT) and the finance result showing significant improvement. The company’s global workforce also grew to 53,659 employees, an increase of 2,338 from the previous year.
Investment in Innovation and Sustainability
Liebherr invested €634 million in research and development in 2023, focusing on alternative drives, digitalisation, and autonomy. This includes advancements in electric drives, alternative fuels, hydrogen combustion engines, and hydrogen fuel cells. Noteworthy developments include the sale of the first battery-electric Liebherr wheel loader, the L 507 E, and the introduction of the LH 80 M High Rise Industry electric material handling machine.
In digitalisation, Liebherr has enhanced its digital platforms to improve machine reliability, efficiency, and convenience. This includes the full integration of the Tower Crane Portal into the MyLiebherr customer portal and further development of various applications such as the Crane Finder and MyNotifier app.
Record Investments and Future Outlook
Liebherr’s commitment to growth is underscored by a record investment of €1,030 million in its production, sales, and service networks in 2023, an increase of €167 million over the previous year. This includes expansions at the Ehingen plant in Germany and investments in the USA and France to boost production capacities.
Looking ahead to 2024, Liebherr anticipates continued challenges but remains optimistic thanks to a solid order volume and its diversified, international structure. The company expects growth opportunities in markets undergoing transformation, particularly in the USA and Australia.
The full annual report, detailing comprehensive financial figures and a review of the business year, was published on April 3, 2024, and includes insights from Jan Liebherr, President of the administrative board, and Stéfanie Wohlfarth, Vice President of the administrative board of Liebherr-International AG.
