In the 2024 business year, Liebherr recorded its highest-ever revenue, €14,622 million. However, the 4.1 % year-on-year growth was less pronounced than the average growth of the past five business years.
In seven of its 13 product segments, Liebherr 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. Mobile cranes and components for the aerospace product area and healthy order books for mining and gear technology primarily drove growth.
Liebherr grew by 3.5 % in construction machines and mining, 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 registered a satisfying increase in revenue, driven primarily by the development in Australia and Japan. Liebherr recorded a slight downward trend in Europe 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, Africa, and the Near and Middle East regions increased, with countries such as the USA, Canada, and South Africa being 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 previous year’s level. Furthermore, the number of employees grew 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.
Liebherr is pursuing the objective of being a major player in advancing technological innovation. That is why the Group invested €666 million in research and development last year, the bulk of which 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, 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, in 2024, Liebherr unveiled the L 566 H large wheeled loader prototype with a hydrogen combustion engine. Liebherr started a series of deliveries of the LPO 100 mobile energy storage system and began work on developing the even more powerful LPO 600 prototype. The LTC 1050-3.1E hybrid crane was also launched, and it can be operated on construction sites using battery power alone.
The Group expanded its aerospace portfolio with next-generation flight control computers and modular electro-mechanical actuators. At MINExpo 2024 in Las Vegas (NV/USA), Liebherr and its customer Fortescue announced the historic extension of their partnership. Constituting the Group’s largest contract in company history, the delivery will comprise 475 zero-emission mining machines, of which 360 are models of the autonomous, battery-electric mining truck T 264. The partnership has set out to develop an extensive zero-emission mining ecosystem jointly by 2030.
In the field of autonomy and automation, the LiReCon teleoperation unit became ready for series production. Liebherr won an award for the automation solution for disassembling battery packs in the gear technology and automation systems product segment. To ensure safety, efficiency and user experience in semi-autonomous or autonomous machines, Liebherr is researching different machine-based learning algorithms. Furthermore, Liebherr presents the ‘Liebherr Autonomous Operations’ system at bauma 2025. The solution, which is at an advanced stage of development, facilitates completely driverless operation and is primarily suited to monotonous standard activities and operations in hazardous areas.
Liebherr further cemented its position as a provider of digital solutions. A particular focus in this regard was on solutions such as Liebherr Connect for network machines and IT security solutions for products. Liebherr also recognises the importance of artificial intelligence (AI) to strengthen its competitive edge and advance innovations, which is why the Group has established a dedicated competence centre.
A total of €989 million was invested in production sites and the global distribution, logistics, and service networks, which was 4% below the previous year’s figure. This was offset by depreciation amounting to €589 million.
In Germany, Liebherr-Components Kirchdorf invested in the final construction phase of the main plant for the production of hydraulic cylinders and in Austria, Liebherr-Werk Bischofshofen acquired a plot of land in Wildon measuring more than 200,000 m2. This expansion should allow the company to increase production capacities there. The additional production facility is scheduled for completion in 2029. Also in Austria, Liebherr-Hausgeräte Lienz completed work on its new logistics centre. In Campsas, Liebherr-Aerospace Toulouse SAS invested in constructing a new industrial facility to produce heat exchangers, which is due to commence operations in 2025. On the American market, which has been one of the Group’s most important markets for many years, Liebherr purchased a plot of land for a new logistics distribution centre in Tupelo (MS/USA). The Newport News (VA/USA) plant was expanded to accommodate future demand for mining trucks.
For 2025, Liebherr anticipates uncertain economic conditions, which could impact customers’ willingness to invest. Further, some industries face high-cost pressure to offer products and services at competitive prices while operating in a challenging competitive landscape. Nonetheless, the Group is in a good position, with its innovative products and solutions, long-standing customer relationships, international setup and decentralised, diversified structure.
Liebherr started the current business year with a solid overall volume of orders, even though demand across the 13 product segments was, in some cases, wildly variable. There are also specific opportunities, primarily in the aerospace and mining industries and the Australian and American markets. Liebherr considers itself in a good position and has a positive outlook. The Group expects moderate growth in 2025 with lateral movement in the sales distribution.
