Liebherr on course for growth again in first half of 2010

The general business situation continued to improve in 2010 as national economies recovered gradually from the crisis. Since midway through 2009, worldwide industrial production has begun to increase in volume again, and world trade prospects are also encouraging.

In the first six months of 2010, the Liebherr Group’s turnover was 4.6 % or 149.0 million € higher than in the corresponding period of the previous year, and totalled 3,415.0 million €. Construction machines generated a turnover of 2,120.4 million €, a slight increase of 41.4 million € or 2.0 %.

This increase is due entirely to the upturn in the Group’s earthmoving and mining division, turnover from which increased by 13.2 % or 110.8 million € to 951.8 million €. Turnover from the two other construction machinery product areas went down. Sales revenues from mobile cranes were 5.4 % or 52.9 million € lower, at 919.4 million €. In the construction cranes and mixing technology product area, turnover reached 249.2 million € and was therefore 6.2 % or 16.5 million € below the equivalent figure in the previous year.
Turnover from products outside the construction machinery areas increased by 9.1 % or 107.6 million €. Total sales revenues were 1,294.6 million €.

Progress in the maritime cranes division was gratifying, with an increase in turnover of 12.7 % or 33.9 million € to a total of 300.9 million €. Sales revenues from refrigerators and freezers in the half-year period just completed increased by 3.1 % or 10.9 million € to 362.0 million €. The machine tools and material flow technology division incurred a 9.8 % or 9.6 million € drop in turnover. Results from the aerospace and transportation technology division were more satisfactory: turnover from equipment for aircraft and rail vehicles rose by 2.6 % or 12.0 million € to 394.7 million €.

From sales of other products and services, the Liebherr Group generated an 88.5 % increase in turnover, with the total rising by 69.8 million € to 148.7 million €. The other products and services in this category include turnover from the Group’s hotels in Austria, Ireland and Germany, and also revenue resulting from sales of components manufactured in-house – electric motors, hydraulic equipment, drive technology and large anti-friction bearings – to clients outside the Group. Turnover also included further deliveries of sunscreens for the external areas of the mosque in Medina, Saudi Arabia.

The Liebherr Group anticipates a distinct increase in sales revenues for 2010 as a whole, but the result will be influenced to a large extent by ongoing exchange-rate fluctuations between the Euro and the Swiss franc as the year progresses.

30/07/2010