The Liebherr Group finished the 2022 financial year with a new record turnover of EUR1.25 billion (USD1.36 billion) – up 8.2% from the previous year.

The positive result was achieved despite difficult general conditions, rapidly rising food and fuel prices, as well as the ongoing coronavirus pandemic and related regional lockdowns which weighed on economic development and slowed economic growth in the period. 

The group achieved increased turnover in 10 of its 13 product segments, some of them significant. 

Turnover in the seven product segments of earthmoving, materials handling technology, deep foundation machines, mobile and crawler cranes, tower cranes, concrete technology and mining grew 6.9% over the year. In the six product segments of maritime cranes, aerospace and transportation systems, gear technology and automation systems, refrigerators and freezers, components, and hotels, Liebherr achieved 11% growth.

Turnover increased slightly in the European Union, which is traditionally the group’s strongest sales region. Growth rates in the EU markets varied, with business developing positively in the Netherlands and Italy, in particular. 

Liebherr developed extremely positively in North America and in Central and South America, with strong growth impulses coming from the USA, Canada and Brazil. 

Liebherr also saw “a pleasing increase” in Africa as well as in the Near and Middle East. Turnover in Asia and Oceania was slightly above the previous year’s level.

Despite the strong turnover growth, net income fell significantly to EUR2 million (USD2.18 million). 

Looking ahead, the group says it started the year 2023 with a positive order situation. “With regard to the war in Ukraine, however, there is still great uncertainty as to whether and to what extent a gradual easing will occur, whether the sanctions will remain in force and whether a gas shortage, which would result in rationing, can be avoided,” directors point out.

“At the same time, there are still macroeconomic uncertainties about the duration and distribution of the expected decline in economic activity in Europe, the duration of broad price increases in many goods and services, and the scarcity of certain raw materials and labour. The same applies to bottlenecks in different supply chains. It is also unclear how fiscal and monetary policy measures will affect the Liebherr Group. 

“Macroeconomically, however, lower inflation may reduce uncertainties and thus increase demand for the group’s products and services.”

Following the successful previous business years, Liebherr expects further growth in turnover in 2023.