Company reports highest sales in its history as profits rise 11.1%
The Liebherr Group saw a 9.3% rise in total sales in 2017, registering $12.1bn, the highest figure ever recorded by the global construction equipment manufacturer. Net profit after taxes were $408.6m, a $40.7m or 11.1% increase.
The company said western Europe led by Germany and France saw a significant increase while performance in Eastern Europe, particularly in Russia, was described as encouraging. Also up were the USA, the Far East and Australia. Falls were recorded in the Near East, the Middle East and Africa.
Construction machinery and mining equipment sales were up 14.5% to $7.6bn. Sales in the earthmoving division were up $507.4m, or 19.8%, to $2.96bn. In the mining division a 44% ($347m) increase gave a total of $1.13bn.
Tower crane sales were up 31% to $663m. The mobile crane division, at $2.53bn, was down by 0.7%, or $18.5m on 2016. Almost half (48.8%) of the sales were in Europe with the USA next at 22.7%.
Concrete technology division sales were down 10.7% to $227.2m. Also down was the maritime crane division, by $102.5m, or 10.2%, to $905m.
The Liebherr Group also added 1,561 employees in 2017, taking its total manpower to 43,869 worldwide. In its outlook for the future, Liebherr projected a further increase in turnover for 2018 on the back of growth in the construction machinery and mining sector, among other areas.