Liebherr’s €580 million sales growth

The Liebherr Group ended 2024 with a revenue of €14.6 billion. Compared with the previous year, the company recorded a revenue growth of €580 million or 4.1%.

Liebherr’s revenue of €14.6 billion for 2024 was its highest ever revenue in the company’s history. However, the 4.1% growth was less pronounced than the average growth of the past five business years. In seven of its 13 product segments, the Group achieved increases in sales. Trends differed between the various product segments and sales regions. The subdued demand in the construction industry, especially in Germany, weighed on some of Liebherr’s product segments. Nevertheless, the declines could be offset by the successful marketing of other products. 

In the area of construction machines and mining, Liebherr grew by 3.5 %, achieving revenue of €9.9 billion. This area incorporates the product segments of earthmoving, material handling technology, deep foundation machines, mining, mobile and crawler cranes, tower cranes and concrete technology. 

Asia and Oceania were able to register an increase in revenue, driven primarily by development in Australia and Japan. Within Europe, Liebherr recorded a slight downward trend, despite good business in the Netherlands, Spain, Portugal and the United Kingdom. Revenue was also below the previous year’s levels in Central and South America. By contrast, revenue in North America and in the Africa, Near and Middle East region increased, with countries such as the USA, Canada and South Africa particularly notable. 

The Group achieved a net income of €258 million in 2024. Though the operating result continued to improve, the financial result fell below the level of the previous year. The number of employees grew in the 2024 business year reaching 54,728 worldwide, 1,069 more than in the previous year.

Liebherr intends to be a major player in technological innovation and invested €666 million in research and development last year. The bulk of this went into the development of new products. Liebherr continued to develop existing technologies in the 2024 business year and added numerous new machines, components and solutions to its product programme. As in the previous year, the fields of alternative drive technology, digitalisation and autonomy were once again the main focus of research and development. 

Through its open approach to technology, Liebherr is helping its customers to hit emissions targets. This is why the Group is developing, among other solutions, electric drives, alternative fuels for conventional combustion engines and hydrogen-based drives, such as hydrogen engines and hydrogen fuel cells. For instance, 2024 saw the unveiling of the first prototype of the L 566 H large wheel loader with a hydrogen combustion engine. Liebherr started series delivery of the LPO 100 mobile energy storage system and began work on developing the even more powerful LPO 600 prototype. The LTC 1050-3.1E hybrid crane was also launched, which can be operated on construction sites using battery power alone. 

In order to ensure safety, efficiency and user experience in semi-autonomous or autonomous machines, Liebherr is researching different machine-based learning algorithms. Liebherr is also presenting the ‘Liebherr Autonomous Operations’ system at Bauma 2025. The solution, which is at an advanced stage of development, allows driverless operation and is suited to monotonous standard activities and operations in hazardous areas.

The Group further cemented its position as a provider of digital solutions. A particular focus in this regard was on solutions such as Liebherr Connect to network machines, as well as on IT security solutions for products. Liebherr also recognises the importance of artificial intelligence (AI) to strengthen its competitive edge and to advance innovations, which is why the Group has established a dedicated competence centre.

€989 million was invested in production sites and the global distribution, logistics and service networks. Investments were therefore 4% below the previous year's figure. This was offset by depreciation amounting to €589 million. 

In Germany, Liebherr-Components Kirchdorf invested in the final construction phase of the main plant for the production of hydraulic cylinders and, in Austria, Liebherr-Werk Bischofshofen acquired a plot of land in Wildon measuring in excess of 200,000m2 to increase production capacity. The additional production facility is scheduled for completion in 2029. On the American market, which has been one of the Group’s most important markets for many years, Liebherr purchased a plot of land for a new logistics distribution centre in Tupelo (MS/USA). The plant in Newport News (VA/USA) was expanded to accommodate future demand for mining trucks. 

For the entire year of 2025, Liebherr is anticipating uncertain economic conditions. Further to this, some industries are facing high cost pressure to offer products and services at competitive prices, all while operating in a challenging competitive landscape. Nonetheless, the Group is in a good position, with its innovative products and solutions, long-standing customer relationships, international setup and decentralised, diversified structure. The Group started the current business year with a solid overall volume of orders, even though demand across the 13 product segments was, in some cases, wildly variable. The Group expects moderate growth in 2025 with lateral movement in the distribution of sales.