The Liebherr Group has reported a record revenue of 14.042 billion Euros through 2023, an increase of 11.5 percent from the previous year amid rises in 11 of 13 product segments.
The earthmoving, material handling technology, deep foundation machines, mobile and crawler cranes, tower cranes, concrete technology, and mining product segments saw an increase of 11.6 percent year-over-year, bringing in 9.557 billion Euros.
Business grew in virtually all sales reasons, Liebherr reported, with a strong year in the European Union, traditionally the group’s strongest sales region, driven by Germany, France, and Spain. North America proved extremely encouraging thanks to strong results in the United States and Mexico.
Net income for 2023 reached 367 million Euros, a significant improvement over 2022, Liebherr stated. Employee numbers also grew, with 2,338 more worldwide employees in 2023.
Liebherr has put a strong focus on advancing technological innovation. 634 million Euros were invested in research and development through 2023, including investments in alternative drives, digitalization, and autonomy.
Drive technology research includes work in electric drives, alternative fuels for conventional combustion engines, and hydrogen-based drives such as hydrogen combustion engines and fuel cells. During 2023, Liebherr delivered the first L 507 E battery-electric wheel loader, and the first LH 80 M High Rise Industry electric material handling machine. Additionally, a test bench for hydrogen technology was installed at a test centre for testing fuel cell power generation for non-propulsive onboard systems.
In digitalization, Liebherr pushed ahead developing digital platforms that help make machines more reliable, convenient, and efficient. The MyLiebherr online platform has had a number of additions through the year.
Autonomy and automation projects include the Master V crane control system, the LiReCon teleoperation unit, and autonomous T 264 mining trucks entering into operation for validation testing with a customer.
Liebherr expects economic conditions to remain challenging in 2024, but it has started the year with a solid volume of orders and overall demand.
Johnathon Mayoral
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