The Liebherr Group, which also coats for its aerospace division, among other things, closed the year 2022 with a new record turnover of 12,589 million euros. Compared to the previous year, the company thus recorded turnover growth of 950 million euros or 8.2 %.
Difficult general conditions, rapidly rising food and fuel prices, the ongoing coronavirus pandemic and the associated regional lockdowns had a negative impact on economic development in the past financial year and slowed economic growth. Nevertheless, Liebherr significantly increased its turnover compared to the previous year. The Group achieved significant increases in turnover in ten of its 13 product segments. It thus exceeded its previous turnover record from 2021 by 950 million euros.
Revenue in the seven product segments Earthmoving Equipment, Material Handling Equipment, Specialised Civil Engineering Equipment, Mobile and Crawler Cranes, Tower Cranes, Concrete Technology and Mining amounted to a total of EUR 8,561 million, up 6.9% on the previous year. In the six product segments Maritime Cranes, Aerospace and Transportation Technology, Gear Cutting Technology and Automation Systems, Refrigeration and Freezing Equipment, Components and Hotels, Liebherr achieved a total turnover of 4,028 million euros, which corresponds to an increase of 11 % over the previous year.
Within the European Union, traditionally the Group's strongest sales region, turnover increased slightly. Growth rates in the EU markets fluctuated, with business developing positively in the Netherlands and Italy in particular. In North America and Central and South America, Liebherr performed extremely well, with strong growth impetus coming from the USA and Canada and again from Brazil. The Group also recorded a pleasing increase in Africa and in the Near and Middle East. Turnover in Asia and Oceania was slightly above the previous year's level.
The Liebherr Group achieved an annual result of 2 million euros in 2022. The operating and financial result decreased significantly compared to the previous year. The number of employees grew again in the 2022 financial year. At the end of the year, the Liebherr Group employed a total of 51,321 people worldwide, 1,710 more than in the previous year.
As a technology company, the Group pursues the goal of playing a key role in shaping technological progress in the industries relevant to Liebherr. Liebherr's research projects continue to focus on alternative drive systems. Last year, the Group therefore invested 588 million euros in research and development. A large part of this went into the development of new products. Numerous collaborations with universities, colleges and research institutes were initiated or continued.
