In a year marked by economic uncertainty and shifting market dynamics, the Liebherr Group has emerged with a robust performance, setting new revenue records and reinforcing its position as a global industrial powerhouse. The company ended 2024 with a revenue of €14,622 million, marking a 4.1% increase from the previous year. This growth, though slightly below the average of the past five years, underscores Liebherr’s resilience and strategic adaptability in a challenging economic landscape.
The year 2024 was a tale of two trends for Liebherr. While seven of its 13 product segments saw increases in sales, the construction industry’s subdued demand, particularly in Germany, posed significant challenges. The company’s ability to offset these declines with successful marketing of other products, particularly mobile cranes and aerospace components, highlights its diversified portfolio and strategic foresight. The mining and gear technology sectors also contributed significantly to this growth, driven by healthy order books.
Geographically, the revenue trends were equally varied. Asia and Oceania, buoyed by strong performances in Australia and Japan, registered satisfying increases. Europe, despite good business in several countries, saw a slight downward trend. North America and the Africa, Near and Middle East region, however, showed promising growth, with the USA, Canada, and South Africa standing out.
Liebherr’s net income for 2024 was €258 million, reflecting an improving operating result but a dip in the financial result compared to the previous year. The company’s workforce grew to 54,728 employees, underscoring its commitment to expansion and innovation.
The Group’s investment in research and development amounted to €666 million, with a significant focus on alternative drive technology, digitalisation, and autonomy. Liebherr’s open approach to technology is evident in its development of electric drives, hydrogen-based solutions, and autonomous systems. The unveiling of the L 566 H large wheel loader with a hydrogen combustion engine and the LTC 1050-3.1E hybrid crane are testament to this commitment. The historic partnership with Fortescue, involving the delivery of 475 zero-emission mining machines, further cements Liebherr’s role in the transition to sustainable mining practices.
In the realm of digitalisation, Liebherr has solidified its position as a provider of cutting-edge solutions. The focus on Liebherr Connect and AI-driven innovations reflects the Group’s strategic vision to stay ahead in a rapidly evolving technological landscape. The establishment of a dedicated competence centre for AI underscores this commitment.
Looking ahead to 2025, Liebherr anticipates uncertain economic conditions but remains optimistic. The Group’s innovative products, long-standing customer relationships, and decentralised structure position it well to navigate potential challenges. The aerospace and mining industries, along with the Australian and American markets, present specific opportunities. As Jan Liebherr, President of the Administrative Board of Liebherr-International AG, and Philipp Liebherr, Member of the Administrative Board, reflect on 2024, they highlight the Group’s resilience and strategic adaptability. “We started the current business year with a solid overall volume of orders,” they noted, adding that the Group expects moderate growth in 2025 with lateral movement in the distribution of sales.
The Liebherr Group’s 2024 performance and strategic initiatives set a compelling precedent for the industry. As the company continues to invest in innovation and sustainability, it challenges norms and sparks debate on the future of industrial technology. The Group’s ability to adapt and thrive in a volatile market underscores its leadership in the mining and industrial sectors. As Liebherr looks to the future, its focus on alternative drives, digitalisation, and autonomy will undoubtedly shape the development of the sector, driving progress and setting new standards.
