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Crane manufacturer Liebherr reports record turnover

Liebherr reports another record turnover for the 2023 financial year. The Group achieved significant increases in turnover in eleven of its 13 product segments.

Compared to the previous year, the company recorded an increase in turnover of €1,453m or 11.5 % to €14,042m. The Group achieved an annual result of €367m in 2023. Both the operating result and the financial result improved significantly. [ds_preview]

Revenue in the Maritime Cranes product segment amounted to €977m in the 2023 financial year, an increase of €165m or 20.3 % compared to the previous year. According to Liebherr, the global market for maritime cargo handling normalized in terms of raw material costs and freight rates in 2023. Although the global market volume for mobile harbour cranes shrank slightly, Liebherr succeeded in generating an increase in turnover in this product area and expanding its position as a global market leader. According to the company, a “particularly positive trend” can be seen in the offshore crane market. Liebherr achieved an increase in turnover in this area as well as in the two other areas of ship cranes and container cranes. In customer service, turnover growth was achieved in 2023 thanks to a comprehensive range of services, spare parts and other service products for the fleet of machines in operation worldwide.

Looking at the regional turnover figures, Central and South America stands out positively: Liebherr achieved a significant increase in turnover, but the region remains the smallest market for the Maritime Cranes product segment. Turnover trends in North America, non-EU countries, the EU, Asia and Oceania were also pleasing. In the latter two regions, Liebherr recorded a decline in turnover in the previous year, which has now been successfully rehabilitated. Growth impetus came primarily from Germany, Poland and Indonesia. Business declined in the Africa / Near and Middle East region. As Liebherr has started the year with a strong order situation in the Maritime Cranes product segment, a further increase in turnover is also expected for 2024.

Liebherr focuses on alternative drives and digitalization

Last year, the Group invested €634m in research and development, mainly in the development of new products. The areas of alternative drives, digitalization and autonomy were once again the focal points. According to Liebherr, the company pursues a technology-neutral approach to drive technology. This includes electric drives, alternative fuels for conventional combustion engines and hydrogen-based drives such as hydrogen combustion engines and hydrogen-powered fuel cells. In the Maritime Cranes product segment, the CBG 500 E material handling crane was put into operation and the LS 800 E is currently in production as the first fully electric heavy-lift crane.

In the area of digitalization, Liebherr pushed ahead with the further development of various digital platforms in the reporting year in order to make machines safer, more comfortable and more efficient. Another development focus was on projects in the areas of autonomy and automation. The Master V crane control system is used in the latest series of Liebherr mobile harbour cranes. This forms the basis for the future integration of assistance and partial automation systems.

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