Liebherr, the renowned Swiss-based conglomerate, has yet again surpassed expectations, concluding the 2023 business year with a remarkable record revenue of €14,042 million. This achievement marks a significant 11.5% growth compared to the previous year, amounting to an impressive €1,453 million increase in revenue for the company.
The surge in revenue was evident across multiple fronts, with the Group experiencing increased revenues in 11 out of its 13 product segments. Particularly noteworthy was the performance in segments such as earthmoving, material handling technology, and mining, where revenue reached €9,557 million, reflecting an 11.6% increase over the previous year. Similarly, other segments including maritime cranes, aerospace, and transportation systems, witnessed a substantial revenue surge, totaling €4,485 million, representing an 11.3% growth compared to the previous year.
Liebherr’s success story extends beyond revenue figures, with positive growth observed in sales regions worldwide. Notably, the European Union, Liebherr’s stronghold, witnessed satisfying revenue increases, especially in key markets such as Germany, France, and Spain. North America, Asia, Oceania, and the Africa, Near, and Middle East region also contributed significantly to the Group’s success.
In terms of financial performance, Liebherr reported a net income of €367 million in 2023, signaling a prosperous year for the company. Both earnings before interest and taxes (EBIT) and the finance result showed significant improvements, underscoring the Group’s financial resilience and operational efficiency. Moreover, Liebherr’s workforce saw growth, with the company employing 53,659 individuals globally by the end of the year, indicating its commitment to human capital development and organizational expansion.
Embracing a forward-thinking approach, Liebherr continued its strategic investment in research and development (R&D), allocating €634 million to drive innovation. With a focus on alternative drives and digitalization, Liebherr aims to spearhead technological advancements in its respective industries. The Group’s endeavors in electric drives, alternative fuels, and digital platforms have yielded promising results, with notable achievements such as the introduction of battery-electric wheel loaders and fully electric heavy-lift cranes.
Looking ahead to 2024, Liebherr remains optimistic despite prevailing economic challenges. With a robust order volume and a diversified product portfolio, the Group is well-positioned to navigate fluctuating market conditions. Market opportunities in large cranes and raw materials, particularly in economies undergoing transformation processes, are expected to drive growth for Liebherr in regions such as the USA and Australia.
Liebherr’s stellar performance in 2023 underscores its resilience, innovation-driven approach, and unwavering commitment to excellence. As the company unveils its annual report on April 3, 2024, stakeholders can anticipate a comprehensive overview of Liebherr’s achievements and future outlook, as articulated by Jan Liebherr, President of the administrative board, and Stéfanie Wohlfarth, Vice President of Liebherr-International AG.
