Annual sales slide 2.5% at machinery firm Liebherr

Company manages to record its third-best year despite difficult market conditions

Global machinery and industrial heavyweight Liebherr has reported total sales of $9.79bn for 2016 – a fall of 2.5% on the year before.

It was, however, Liebherr’s third-highest turnover ever and came in year that the company described as having a difficult market environment, and also after a record high in 2015.

Liebherr’s construction machinery and mining equipment segments recorded sales of $5.9bn, down $243m or 4% year-on-year. Sales maintained the same level as the previous year in the maritime cranes segment, registering $3.92bn.

Going by territory, sales were up in the Western European market, especially in Germany, France and The Netherlands. Eastern Europe also saw growth, led by Russia and Poland, while the Middle East retained its 2015 level. The US, Africa, Australia and the Far East all reported slight falls.

Liebherr has forecast in increase in turnover for 2017 and has also projected an increase in its workforce this year.

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