The Liebherr Group has achieved an annual turnover of over EUR10 billion (USD11.3 billion) for the first time in the company’s history.
Despite a slight decline in overall economic growth, 2018 was a record year for the Liebherr Group; both the construction machinery and mining equipment divisions recorded overall increases in sales revenues.
Within these divisions, Liebherr said the earthmoving, mobile cranes and mining business units posted “especially strong contributions”.
The company added that sales continued to increase within the European Union (EU), which Liebherr said is its most important sales region.
Outside of Europe, Liebherr is investing in projects such as the development of the Newport News site in the USA. The expansion of the crane, construction machinery and concrete technology divisions is intended to support the group’s long-term growth strategy in the US market.
Looking ahead, Liebherr said: “According to the latest projections, global economic growth is expected to continue to slow during the current year. However, there are no signs of an imminent recession. Demand in most regions and industries may develop very positively in 2019. Therefore, the group expects sales revenues to continue to rise in 2019. The order books which were already nicely filled at the start of the year also suggest this.”