Liebherr’s record results for 2023

The Liebherr Group achieved record revenue of €14.042 billion in 2023. This represents an increase of €1.453 billion, or 11.5%, compared with the previous year. The results are of note given the economic situation worldwide. According to the International Monetary Fund, global economic growth slowed to 3.1% in 2023.

The ongoing impacts of the coronavirus pandemic, the war in Ukraine and the rising cost of living have continued to have a negative impact on the global economy. There was, however, some slow recovery from these challenges. The economy was more resilient than presumed in the face of war-related market disruption and tightened monetary policy. Although global economic growth slowed and has not yet returned to pre-pandemic levels, it did not become stagnant. Having reached a peak in 2022, inflation fell again in the business year. This decline was propelled by more moderate energy and food prices and the recovery of supply chains.

Overall, there continued to be slight growth in the global economy. This was evident, in particular, in emerging market and developing economies, which grew by 4.1%, whereas industrialised countries only recorded growth of 1.6%. Particularly striking here is the small increase of 0.5% in the eurozone – compared to 2.5% growth in the US economy.

In the 2023 business year, Liebherr once again achieved record revenue with €14.042 billion. The Group recorded considerable revenue increases in almost all product segments, with the only exceptions being the deep foundation machines and tower cranes product segments.

In construction machines and mining, Liebherr achieved revenue of €9.557 billion, which represents an increase of 11.6% on the previous year. This includes the product segments of earthmoving, material handling technology, deep foundation machines, mining, mobile and crawler cranes, tower cranes and concrete technology.

The release of the financial results comes shortly after Liebherr’s announcement of additional factory space being commissioned at its wheeled loader facility at Bischofshofen. This new assembly hall is for the manufacture of battery-electric wheel loaders and is now making the group’s first electric wheel loader, the L 507 E. In total, Liebherr has invested over €2.2 million in the new manufacturing facilities. The nearly 1000m² production area is designed for a maximum yearly output of up to 500 battery-electric wheel loaders.

The new production area is located in a separate hall, away from the conventional wheel loader assembly. “This separate space is something we opted for because we wanted to fully adapt the new assembly hall to meet the work-safety measures required by the new high-voltage battery system. All employees involved in constructing the L 507 E receive specialised training, which means we are particularly well prepared to meet the demands of electrical technology,” explained Peter Schachinger, director of Production and Operations at Liebherr-Werk Bischofshofen.

The new wheel loader assembly line is located in one of the plant’s former workshop halls, which Liebherr has gutted and restored for the production of the L 507 E. The wheel loader experts designed the interior of the assembly hall almost entirely digitally using virtual reality applications. “This allowed us to test various layouts and therefore perfectly coordinate the pre-assembly stations and the main assembly line. We were able to use the available space and create short transport paths,” said Jonas Schwob, project manager for the Production of Electric Wheel Loaders. A digital display at the centre of the assembly hall gives an overview of the current key production figures in real time. Liebherr has given special consideration to ergonomics at the individual work stations: Special lifting devices and transport systems as well as wireless bolting tools make it easier for workers to assemble the new L 507 E wheel loader.

The new L 507 E is based on the conventionally driven L 507 Stereo wheel loader and combines the proven stereoloader with a battery-electric drive developed by Liebherr. This drive relies on a high-voltage battery system, specially designed by Liebherr for wheel loader operations, ensuring powerful performance and efficient charging.

While the L 507 E’s performance is identical to conventionally driven Liebherr wheel loaders of the same size class, it emits no local CO2, and noise emissions are minimal. This makes the new wheel loader particularly suitable for any operation where noise or exhaust fumes may be an issue, such as in inner-city areas or in underground working.