First publishedon www.AggBusiness.com
Liebherr Group expects 2018 to bring “appreciable gains” in its equipment sales to mining, earthmoving and concrete technology customers and growth in its construction machinery sales after posting record annual turnover last year, with total sales of €9.845 billion.
The Group says its 2018 order book is “looking very good”, leaving it bullish about building on healthy 9.3% revenue growth in 2017, compared to the previous 12 months.
Sales of Liebherr construction machinery and mining equipment rose by 14.5% to €6.182 billion in 2017. In the Maritime Cranes, Aerospace and Transportation Systems, Machine Tools and Automation Systems, Domestic Appliances, Components as well as Hotels divisions, overall turnover was up by 1.5% to €3.663 billion compared to 2016.
In Western Europe, Liebherr's largest sales region, turnover increased significantly. The key markets of Germany and France showed particularly strong growth. Sales performance in Eastern Europe, particularly in Russia, was encouraging. In the Far East / Australia and America, revenues were also above the previous year's level. The Near and Middle East and Africa, however, recorded a fall.
Liebherr posted a 2017 net profit of €331 million. Compared to the previous year, this represents an increase of €33 million or 11.1%.
2017 also saw a further increase in Liebherr’s workforce. A total of 1,561 new jobs were created. Liebherr had 43,869 employees worldwide at the end of the year.