Interview with the family shareholders

In 2024, Liebherr marked its 75th anniversary with numerous celebrations enjoyed by employees around the world. You have attended many of these events yourselves. What are your favourite memories?

Jan Liebherr:

The celebrations surrounding the 75th anniversary all exuded a unique atmosphere of togetherness. The pride and enthusiasm of our employees was plain to see. One highlight was the specially produced historical film – a compelling retrospective looking at our company over the decades. The friendly atmosphere, musical performances by talented individuals from within our ranks, and lots of face-to-face chats made the anniversary a truly unforgettable experience for me.

Philipp Liebherr:

The thing I’ll remember most is the strong sense of team spirit, which was palpable at the events all over the world. The variety of the festivities and the deep connection between our employees and the company made a lasting impression on me. The conversations with our teams have proven the level of passion and dedication that sustains our Group.

What were your other highlights from the 2024 business year?

Jan Liebherr:

2024 was an eventful year with lots of milestones. As well as marking the 75th anniversary of the Group, we had the chance to celebrate 50 years of Liebherr in Canada and Brazil. The return of the customer days in Ehingen (Germany) was a very joyful affair. These events are always a valuable opportunity to speak face-to-face with our customers from all over the world. We also exemplified our innovative prowess at various exhibitions, including Intermat in Paris (France), MINExpo in Las Vegas (NV/USA) and IFA in Berlin (Germany). Another major success was, of course, the record-breaking order from Fortescue, a truly historic event for the company.

Philipp Liebherr:

The events and exhibitions this past year were real highlights for me, too. These occasions once again proved just how essential direct customer contact is for our business, even now. An important milestone for me was the work that began on expanding production capacities in Campsas (France). This represents an important investment in the future of our aerospace segment. I’d also like to mention the contract to develop the flight control computer for Airbus. And, in another successful move, we sold far more than 100,000 refrigerators in India.

You just mentioned the major contract with Fortescue, the global technology, energy and metal group. What significance does this contract have for Liebherr?

Jan Liebherr:

This contract is a really significant milestone for us in many respects. Firstly, it cements our long-term partnership; secondly, it shines a light on our innovative prowess and our commitment to a sustainable future for the mining industry.

The mining industry is on the brink of a profound transformation; in Fortescue, we have a partner by our side who is undoubtedly driving this transformation forward. The target of running net-zero operations by 2030 is ambitious – and it calls for groundbreaking technological advancements. This is where Liebherr comes into play: we are not just talking about decarbonisation of the industry, but actually taking action by developing concrete solutions and putting them into practice.

The collaboration spans several of our product segments and presents us with new technological and operational challenges. At the same time, it offers us a unique opportunity to put our innovative strength to the test and to show that Liebherr is ready to help shape the future of the mining industry. The contract reinforces our aspiration to blaze a technological trail by developing sustainable solutions for the entire sector.

What is your assessment of the Group’s business figures?

Jan Liebherr:

We are really satisfied with the business figures. Overall, we are registering positive revenue development and a solid operating result for 2024, and that’s in spite of the challenging market environment. This year, we have continued to grow steadily and have bolstered our stability as a Group. That’s what matters to us.

Philipp Liebherr:

Our diversified positioning has proven its worth yet again: 2024 was largely shaped by strong incoming orders, though there were marked differences between the product segments.

Let’s take a closer look at the individual product segments: how have they developed?

Jan Liebherr:

In some product segments, we registered strong growth in the past year, whereas others faced real difficulties. In the mining product segment, for instance, growth was especially dynamic. That can be attributed to the major contract with Fortescue. In mobile and crawler cranes, we also saw a clear increase in revenue. In some segments, the market positioning proved very challenging, especially in light of the situation in the housing construction sector. This primarily affects the segments of concrete technology, tower cranes, and refrigerators and freezers. The earthmoving product segment also saw a downward trend.

Philipp Liebherr:

Within aerospace and transportation systems, we witnessed growth once again. Demand was persistently high, leading to capacity bottlenecks, especially owing to large-scale orders from Airbus and other partners. This is an indication of our strong market position and the trust our customers have in us. In the components product segment, too, we benefitted from some significant orders. Despite the mixed results, we are pleased with the overall developments in the business.

Where have you invested in 2024 and what impact have your decisions had on strategic considerations?

Philipp Liebherr:

It’s important to us that we are constantly improving and expanding our production sites as well as our sales, service and logistics networks. Only then can we offer our customers the very best quality. One milestone in December 2024 was the start of construction works on a new logistics centre in Tupelo (MS/USA), which is due to commence operations in 2027.

Jan Liebherr:

The site in Campsas (France) is being expanded to manufacture key components for aeroplane air-conditioning systems. There are also plans for a new production site in Nambsheim (France), while a plot of land has been acquired in Wildon (Austria) to increase the production capacities of Liebherr-Werk Bischofshofen GmbH.

Over the course of a year, you regularly speak with customers of the Group. What challenges are customers facing? And how does Liebherr support them through these?

Jan Liebherr:

Our customers’ challenges vary depending on their sector and their geographical location: skills shortages, increasing environmental requirements, growing price pressure and the advance of digitalisation are just some of them. Added to this are geopolitical uncertainties and the ever-changing political backdrop.

Philipp Liebherr:

We want to be a partner that our customers can depend on and we want to support them with the right solutions for their specific requirements. And we’re able to do precisely that through personal contact and our physical presence in so many regions. This is the only way to truly understand the challenges our customers face in their markets. Another aspect of this is also to offer a wide variety of products and solutions, which we are constantly developing in our customers’ best interests. It’s very important to us that our solutions balance sustainability with economic efficiency. That’s why we have been working on alternative drive technologies for years, for instance, as well as driving ahead with digital innovations.

There’s no doubt that artificial intelligence (AI) is a hot topic lately. Where does Liebherr stand on this? What opportunities does it present for Liebherr and what risks does the company need to be aware of?

Jan Liebherr:

Liebherr has been engaged with the topic of AI for many years, and AI is already an integral part of its products and services today. The rapid growth, especially in the field of generative AI, presents additional chances and opportunities to optimise our products and internal processes.

Philipp Liebherr:

To align the Group’s use of AI, we established an AI competence centre in 2024. It’s a platform for creating synergies and provides the technological basis for future applications. The potential it harnesses for us and our customers is enormous: from advanced machine operation to predictive maintenance and on to more efficient decision-making processes. At the same time, we are addressing challenges such as data security and transparency, as well as the reliability of our AI models.

Companies are subject to more and more requirements in terms of corporate responsibility (CR). Where does Liebherr stand on the matter at present?

Philipp Liebherr:

We have already channelled a lot of our attention into this area, starting over three years ago. In autumn 2023, we introduced our first sustainability strategy.

Right now, we are working hard at the Group level to set targets and fine tune measures for this strategy. In addition, we are preparing a Group-wide sustainability report in line with the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS). Establishing and introducing the associated processes and tools affects various levels and departments within the Group.

The number of employees in the Group has grown once again, with the workforce totalling some 54,000 people by the end of 2024. How does Liebherr make sure it remains an attractive employer? What initiatives or programmes are there for developing and retaining talented individuals in the long term?

Jan Liebherr:

We offer our employees ambitious and varied tasks, give them responsibilities, and nurture entrepreneurial spirit. This establishes a motivating work environment and encourages lasting identification with the company.

Philipp Liebherr:

Our employees also have the opportunity to develop themselves. Our talent management programme features a comprehensive range of options – from trainee programmes to targeted leadership development schemes. This ensures we can still attract highly qualified experts and that we retain the talent we already have for a long time.

How is Liebherr’s corporate culture nurtured? Which values are especially important to you and how are these upheld in day-to-day business?

Philipp Liebherr:

Our corporate culture is based on six core values that have always been behind everything we do: independence, trustworthiness, innovation, responsibility, employee orientation and quality. These values underpin our identity and are the key to our enduring success.

Jan Liebherr:

It is vital that these values are not merely enshrined in guiding principles, but actively embodied by us, by managers and by all employees. This is achieved by means of open dialogue within the organisation and a culture that promotes autonomy and entrepreneurial thinking.

This is how we establish a working environment that views stability and innovation on an equal footing, and that gives our employees the chance to grow, both personally and professionally.

Lastly, let’s take a quick look at the current business year: what are your predictions for 2025?

Jan Liebherr:

For the first half of 2025, we are expecting market development to continue on the same trajectory it is on currently, whereas the second half of the year may present a slight upturn. Our principles remain unchanged: we are committed to innovation, quality and strong partnerships.

Philipp Liebherr:

Our goal is to keep growing. Despite a challenging market environment, we are optimistic for the business year ahead. Our broad diversification and future-oriented approach have proven invaluable and remain the basis for our ongoing success.

Thank you for sharing your thoughts.

^{This interview was conducted in March 2025.}