Liebherr to see growth with increased demand for mobile and maritime cranes

Liebherr Group, a construction equipment and crane manufacturer, reported a sales increase of €14 billion in 2023, up 11.5% from the previous year. The growth was seen in 11 out of the group’s 13 divisions, with net income reaching €367 million. Geographically, the company experienced growth in Europe, particularly in France, Germany, and Spain, while a slight decline was reported in non-EU countries. Performance in North America, Asia, Oceania, Africa, the near East, and the Middle East was described as extremely encouraging.

Research and development are high priorities at Liebherr, with €634 million invested in 2023 for new product development, alternative drive systems, digitalization, and automation. The company also invested €1.03 billion in factories, distribution, and service. Crane sales accounted for the largest proportion of the group’s sales, with wheeled and crawler mobile cranes generating €3.452 billion, up 14.7% from the previous year. The tower crane division saw a decline in sales due to reduced construction activity in Europe, while the Maritime crane division achieved a strong 20.3% increase in sales.

Looking ahead, Liebherr is optimistic about the year 2024 in the mobile and crawler cranes product segment, expecting renewed growth. However, the company forecasts a challenging year ahead for the group in 2024, particularly in the tower crane division. Despite market challenges, Liebherr remains focused on innovation and investment in new technologies to drive future growth and success in the industry.

Source .