Liebherr’s revenue experienced a significant increase compared to the previous year, with growth in 11 of its 13 product segments. The company surpassed its 2022 revenue record by €1,453 million (approximately AU$2.3 million), reaching a total revenue of €9,557 million (approximately $AU15.7 million).
This growth was driven by the earthmoving, material handling technology, deep foundation machines, mobile and crawler cranes, tower cranes, concrete technology, and mining product segments, which saw an 11.6 per cent increase over the previous year.
Liebherr experienced positive growth in nearly all sales regions, with particularly strong revenue increases in the European Union, Germany, France, Spain, North America (particularly the USA and Mexico), Asia, Oceania, and the Africa, Near and Middle East region. Central and South America, however, saw revenue remain stable.
The company achieved a net income of €367 million (approximately AU$604 million) in 2023, with both earnings before interest and taxes (EBIT) and the finance result showing significant improvements.
Liebherr also saw an increase in its workforce, ending the year with 53,659 employees worldwide, an increase of 2,338 from the previous year.
In terms of research and development, Liebherr invested €634 million (approximately AU$1 billion) in 2023, primarily focusing on alternative drives and digitalisation.
The company is developing new products in the fields of electric drives, alternative fuels, and hydrogen-based drives.
Liebherr introduced several new electric machines, including the first battery-electric wheel loader and the first fully electric heavy-lift crane.
In digitalisation, the company enhanced its digital platforms, making machines more reliable, convenient, and efficient.
It also continued to develop autonomous and automation technologies, such as the Master V crane control system and automated disassembly processes for electric vehicle battery packs.
Liebherr made a record investment of €1,030 million (approximately AU$1.6 million) in its production sites, distribution, and service networks.
This included expanding its production capacity in Ehingen, Germany, and investing in improved storage facilities in Oberopfingen, Germany.
Construction projects were also underway in Newport News, USA, Campsas, France, Schüttorf, Germany, and Biberach, Germany.
Looking ahead to 2024, Liebherr expects challenging economic conditions but has a solid order volume to start the year.
The company’s decentralised structure and international presence position it well to navigate these challenges and capitalise on market opportunities — particularly in the USA and Australia.