Liebherr projects turnover loss

Liebherr has released a trading update for 2014 which has projected a fall of 1% in its turnover performance.

Its figures for the year are expected to be €8.86 billion – which it said had been influenced by challenging market conditions in several segments of the business including its construction equipment division.

The company’s mining related equipment and machinery operations are forecast to post a turnover of €5.3 billion for the year – representing a loss of €256 million or 4.5% compared with last year’s figures.

According to a company statement, “the weakness of the global mining industry” had posed a considerable challenge. It said revenues had come under pressure in the Near and Middle East – which it stated had shown “very low dynamism.”

Within China, the company said at the Bauma event in Shanghai that there was weakened demand for excavators and wheeled loaders, which it believed was unlikely to fully recover until 2016.

However, Liebherr said its results in Western Europe, Africa and America had yielded positives in matching the previous year’s performance.

Consequently, the firm issued a statement projecting growth of 3.8% for 2015, with its global employee base having risen during 2014 to a total of 41,000 employees.

It added that there had been encouraging figures from elements of its business including its maritime cranes, aerospace and transportation systems divisions, that had seen 5% growth rates during the year.