Starting at the end of the first quarter, the coronavirus pandemic began to affect business activities in many markets. This also had an impact on the Group's sales revenues. With the exception of Refrigeration and Freezing, every product segment experienced a decline in turnover. Despite this, the number of employees remained stable: At the end of 2020, Liebherr employed 47,925 people worldwide.
Numerous research projects with universities, colleges and research institutes were initiated and continued in 2020. Liebherr invested a total of € 512 million in research and development, pursuing the goal of a high-tech company of making a decisive contribution to shaping the technological progress in the industry. The Group also continued to invest in production facilities and the sales and service network.
The annual report published on 19 April 2020 contains detailed key figures on the development of the Group as well as a magazine section. In addition to an interview with second- and third-generation family shareholders, the report offers exciting stories from the Liebherr world as well as a review of the highlights of the past financial year.
To the Annual Report