Liebherr equipment sales jump

Construction equipment manufacturer Liebherr reported a 13.5% year-on-year increase in revenues from its construction machinery and mining division to €5.4 billion in 2011, boosted by earthmoving equipment sales and a recovery in US demand.

In the earthmoving division, Liebherr saw revenues rise 28% compared to 2010 to €2.1 billion last year. It said overall conditions in Europe had been generally good, despite the Eurozone crisis, with upturns in Germany, France and the UK as well as Eastern Europe and Russia - where sales almost doubled, according to Liebherr.

In North and South America, Liebherr said earthmoving sales revenues rose substantially in the US, Canada and Brazil. It said demand in the US had been strong in all areas expect for residential building.

However, Liebherr said that, after a strong start in 2011, construction activity in China slackened off as a result of the government's more restrictive monetary and credit policy.

And Liebherr also reported that demand for its earthmoving equipment had dampened slightly in the first new months of 2012, compared with last year. But it said its current planning for 2012 assumed that there will be further growth in the division's sales.

Meanwhile, following an upturn in 2010, revenues in the mobile crane business fell 4% year-on-year to €1.7 billion. Liebherr's 2011 turnover in the construction cranes and mixing technology sub-division was €577 million, which represeneds an increase 11.1% year-on-year.