Bulle (Switzerland). 02 April 2025 .The Liebherr Group ended 2024 with a revenue of €14,622 million. Compared with the previous year, the company recorded a revenue growth of €580 million or 4.1 %.
In the 2024 business year, Liebherr recorded its highest ever revenue in the company’s history. At 4.1 %, the 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. Growth was primarily driven by mobile cranes and components for the aerospace product area, as well as healthy order books for mining and gear technology.
In the area of construction machines and mining, Liebherr grew by 3.5 %, achieving revenue of €9,891 million. This area incorporates the product segments of earthmoving, material handling technology, deep foundation machines, mining, mobile and crawler cranes, tower cranes and concrete technology. In the product segments of maritime cranes, aerospace and transportation systems, gear technology and automation systems, refrigerators and freezers, components, and hotels, Liebherr achieved total revenues of €4,731 million, an increase of 5.5 % compared with the previous year.
Asia and Oceania were able to register a satisfying increase in revenue, driven primarily by the development in Australia and Japan. Within Europe, the Group 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. Furthermore, the number of employees grew once again in the 2024 business year. At the end of the year, Liebherr had a total of 54,728 employees worldwide, 1,069 more than in the previous year.
Alternative drives and digitalisation as the focal point for research and development
Liebherr is pursuing an objective to be a major player in the advancement of technological innovation. That is why the Group 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 their 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 the field of aerospace, the Group expanded its portfolio with next-generation flight control computers and modular electro-mechanic actuators. At MINExpo 2024 in Las Vegas (NV/USA), Liebherr and its customer Fortescue announced the historic extension of their partnership. Constituting the Group’s largest contract in company history, the delivery will comprise 475 zero-emission mining machines, of which 360 are models of the autonomous, battery-electric mining truck T 264. The partnership has set out to jointly develop an extensive zero-emission mining ecosystem by 2030.
In the field of autonomy and automation, the LiReCon teleoperation unit became ready for series production and, in the gear technology and automation systems product segment, Liebherr won an award for the automation solution for disassembly of battery packs. In order to ensure safety, efficiency and user experience in semi-autonomous or autonomous machines, Liebherr is researching different machine-based learning algorithms. Furthermore, Liebherr is presenting the ‘Liebherr Autonomous Operations’ system at Bauma 2025. The solution, which is at an advanced stage of development, facilitates completely driverless operation and is primarily 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.
High investment in production, sales and service
€989 million was invested in production sites and the global distribution, logistics and service networks. Investments were therefore 4.0 % below the previous year’s figure. This was offset by depreciation amounting to €589 million.
In Germany, Liebherr-Components Kirchdorf GmbH invested in the final construction phase of the main plant for the production of hydraulic cylinders and, in Austria, Liebherr-Werk Bischofshofen GmbH acquired a plot of land in Wildon measuring in excess of 200,000 m2. This expansion should allow the company to increase production capacities there. The additional production facility is scheduled for completion in 2029. Also in Austria, Liebherr-Hausgeräte Lienz GmbH completed work on its new logistics centre. In Campsas, Liebherr-Aerospace Toulouse SAS invested in the construction of a new industrial facility for the production of heat exchangers, which is due to commence operations in 2025. 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.
Looking ahead to 2025
For the entire year of 2025, Liebherr is anticipating uncertain economical conditions, which could impact customers’ willingness to invest. 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. There are also specific opportunities currently, primarily in the aerospace and mining industries, as well as on the Australian and American markets. Liebherr considers itself in a good position and has a positive outlook for the future. The Group expects moderate growth in 2025 with lateral movement in the distribution of sales.
On Wednesday, 2 April 2025, the Liebherr Group publishes its current annual report. In addition to detailed figures, it contains a magazine section that reviews the past business year. In an interview, Jan Liebherr, President of the Administrative Board of Liebherr-International AG, and Philipp Liebherr, Member of the Administrative Board of Liebherr-International AG, sum up 2024.
