The Liebherr Group ended 2024 with a revenue of €14,622 million. Compared with the previous year, the company recorded a revenue growth of €580 million or 4.1 %.
In the 2024 business year, Liebherr recorded its highest ever revenue in the company’s history. At 4.1 %, the growth was less pronounced than the average growth of the past five business years. In seven of its 13 product segments, the Group achieved increases in sales. Trends differed between the various product segments and sales regions. The subdued demand in the construction industry, especially in Germany, weighed on some of Liebherr’s product segments. Nevertheless, the declines could be offset by the successful marketing of other products. Growth was primarily driven by mobile cranes and components for the aerospace product area, as well as healthy order books for mining and gear technology.
In the area of construction machines and mining, Liebherr grew by 3.5 %, achieving revenue of €9,891 million. This area incorporates the product segments of earthmoving, material handling technology, deep foundation machines, mining, mobile and crawler cranes, tower cranes and concrete technology. In the product segments of maritime cranes, aerospace and transportation systems, gear technology and automation systems, refrigerators and freezers, components, and hotels, Liebherr achieved total revenues of €4,731 million, an increase of 5.5 % compared with the previous year.
Asia and Oceania were able to register a satisfying increase in revenue, driven primarily by the development in Australia and Japan. Within Europe, the Group recorded a slight downward trend, despite good business in the Netherlands, Spain, Portugal and the United Kingdom. Revenue was also below the previous year’s levels in Central and South America. By contrast, revenue in North America and in the Africa, Near and Middle East region increased, with countries such as the USA, Canada and South Africa particularly notable.
The Group achieved a net income of €258 million in 2024. Though the operating result continued to improve, the financial result fell below the level of the previous year. Furthermore, the number of employees grew once again in the 2024 business year. At the end of the year, Liebherr had a total of 54,728 employees worldwide, 1,069 more than in the previous year.
Alternative drives and digitalisation as the focal point for research and development
Liebherr is pursuing an objective to be a major player in the advancement of technological innovation. That is why the Group invested €666 million in research and development last year. The bulk of this went into the development of new products. Liebherr continued to develop existing technologies in the 2024 business year and added numerous new machines, components and solutions to its product programme. As in the previous year, the fields of alternative drive technology, digitalisation and autonomy were once again the main focus of research and development.
Through its open approach to technology, Liebherr is helping its customers to hit their emissions targets. This is why the Group is developing, among other solutions, electric drives, alternative fuels for conventional combustion engines and hydrogen-based drives, such as hydrogen engines and hydrogen fuel cells. For instance, 2024 saw the unveiling of the first prototype of the L 566 H large wheel loader with a hydrogen combustion engine…
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