Turnover leaps at Liebherr

18 March 2008

Liebherr has been toasting a successful financial year across all its sectors, not least the crane divisions, which prospered from the booming construction industry worldwide.

In the mobile crane division, total turnover rose by 23.3%, or € 259.8 million (US$350 million), in the 2006 fiscal year to a new peak of € 1.373 billion ($1.850 billion).

That equated to a half a billion Euro rise in the last three years. According to Liebherr the world market for all terrain mobile cranes for 2006 was 2,975 units, 290 more than the previous 12 months. Some 1,300 of them were sold by Liebherr, making it the market leader, with a 45% share.

Turnover in the crawler crane sector grew 50% in the 2006 financial year but turnover from used crane sales dropped slightly. “The reason being that the volume of work caused many customers to retain their existing cranes instead of trading them in when new ones were purchased,” stated Liebherr's annual report.

In Eastern Europe turnover in the mobile crane division continued its upward trend, the biggest increase coming from Russia, with Latvia, Poland and Romania giving a significant showing. Growth rates were also above average in the Americas, as they were in the Middle East, where sales almost doubled thanks to strong demand from Saudi Arabia and UAE.

Dramatic rises continued in Liebherr's construction (tower) cranes and mixing technology division. Turnover rose by € 208.3 million ($280.7 million), or 41.6%, to € 709.2 million ($955.7 million) with Western Europe, the division's most important sales region, making a “considerable” increase. “The construction industry's recovery in Germany, traditionally the division's strongest market, made a particular contribution to this, with an above average increase in turnover resulting from a steep rise in crane sales,” the report continued.

Again, sales revenue in Russia was above average, making it the tower crane division's third largest individual market. Growth in the Americas “was primarily due to exceptional dynamic markets in certain South American countries,” said the report. Sales also increased significantly in Brazil, with the US remaining the division's largest market, despite modest growth.

Liebherr's maritime crane division increased turnover by 27.9%, or € 92.3 million ($124.4 million), to € 422.6 million ($569.5 million). This followed a 5% rise in freight volume compared to the previous financial year, which, in turn, led to increased demand for handling capacity at ports worldwide.

Overall the Liebherr group's turnover in the 2006 business year increased by € 1.168 billion ($1.574 billion), or 22%, to a total of € 6.473 billion ($8.721 billion).

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