Liebherr Group’s turnover approximately 6.8 billion Euros in 2009

Looking back, 2009 was a difficult year for construction machinery manufacturers. After a growth period lasting several years, all market players had to contend with a severe drop in demand affecting almost every business area. The Liebherr Group was also confronted with the effects of the economic crisis, which made a reduction in turnover for the year unavoidable. Following the record result in 2008, sales revenues fell in 2009 by almost 1.6 billion Euros or approximately 19 percent to a total of about 6.8 billion Euros.

Reductions in turnover had to be accepted in every product division, though not always to the same extent. The construction machinery sector, which accounts for more than 60 percent of the Liebherr Group's turnover, was affected more seriously by the economic crisis than other business areas.

The Group's construction machinery field comprises the divisions earthmoving and mining, construction cranes and mixing technology, but also mobile cranes, a division that enjoyed relatively positive development in the past year.

Widespread product and market diversification has a stabilising effect

As in previous business downturns, 2009 as a crisis year has again demonstrated that the Liebherr Group's extensive diversification in both its product programme and its markets has exerted a stabilising effect, and that the independence of a financially strong family-owned company represents a major advantage.

As a result, Liebherr was able to press ahead with important and essential investment projects despite the difficult business situation. In France for example a development, assembly and logistics centre for mining excavators was opened. In Russia, work continued according to schedule on the construction of a production plant for hydraulic components, transmissions and structural steelwork, and also for aircraft equipment. In Mexico the Group has started to build a production plant for driveline components, and essential investments have also been undertaken at existing production locations.

The total Liebherr Group workforce remained at the previous level during 2009. At the end of December the Group employed some 32,000 people worldwide.

Entering 2010 with restrained optimism  

Now that overall economic conditions have become more stable, the Liebherr Group views 2010 with restrained optimism. Current forecasts suggest that the international economy will grow slightly and that world trade will become more active. The Group currently expects sales revenues in 2010 to reach approximately the same level as in the previous business year. A low point seems to have been overcome in many product areas, and production programmes have therefore been restored to a higher level. In the foreseeable future, however, there is no reason to anticipate growth at a similarly dynamic rate to that enjoyed before the crisis.

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