Earthmoving

In the earthmoving product segment, Liebherr recorded revenue of €2,718 million in the 2023 business year, representing an increase of €189 million or 7.5 % on the previous year.

Development compared to previous year
Revenue in € m
from 2,529 		( + 7.5% ) 0
Investments in € m
from 206 		( + 29.6% ) 0
Employees
from 9,329 		( + 2.8% ) 0

Revenue by sales regions

  1. European Union
    62.4%
  2. North America
    14.3%
  3. Central and South America
    3.0%
  4. Non-EU countries
    12.8%
  5. Asia and Oceania
    3.6%
  6. Africa, Near and Middle East
    3.9%

Continued growth achieved with new production record

At the start of 2023, the previous year’s positive trend continued on the global market for earthmoving. As the year progressed, the geopolitical and economic circumstances had a significant impact on market development, meaning that the global market declined considerably and seems to have passed its peak.

Contrary to the global industry trend, Liebherr was able to increase revenue in the earthmoving segment in almost all sales regions and achieve record production despite minor disruption in the supply chain. The strongest progress was made in North America, driven primarily by the positive trends in the USA. Growth was also recorded in the Africa, Near and Middle East region. Due to revenue increases in Germany, Spain and Denmark, the same was true for the European Union, which has traditionally been the segment’s key market. Liebherr recorded a decline in revenue in the non-EU countries and in the Asia and Oceania sales region. Revenue grew in the Central and South America region, thanks in part to an increase in Brazil.

Liebherr continues to develop its high performance and energy-efficient construction machines with an open approach to technology, thus shaping the construction industry for the long term.

Focus on open approach to technology and digital solutions

Liebherr continued its open approach to drive technologies in the earthmoving segment. Sales of the Liebherr L 507 E battery-electric wheel loader that was unveiled at Bauma began in 2023. The global market launch of the new R 930 Tunnel crawler excavator brought a new addition to the tunnel excavator product portfolio. This product replaces the R 924 Compact Tunnel and offers impressive versatility and excellent flexibility for tunnel construction and underground quarrying applications.

In the digital sphere, Liebherr introduced a new app with MyGuide for earthmoving. This enables users to contact Liebherr sales and service partners directly, provides a direct interface with the product configurator for earthmoving machines and brings together all the product information and news from the earthmoving segment. Liebherr expanded its service for customers with the introduction of the National Type Approval (Allgemeine Betriebserlaubnis – ABE) for selected wheeled excavator models ex works.

The exemption certificates required for self-driving machines to drive on the road are valid across Germany and are unrestricted, including for customers.

The focus of research and development activities in 2023 was on alternative drive technologies, the use of alternative fuels and the semi-automation and autonomy of machines.

Liebherr-EMtec GmbH also acquired Zimmermann-Optik GmbH, one of the largest sales partners of Leica Geosystems in Germany. Liebherr thus further expanded its range of services in the area of machine control systems.

The economic situation and the ongoing cool-down in the core markets for the construction machine industry are dampening the outlook in the earthmoving segment. Liebherr is therefore looking to the 2024 business year with caution for this product segment.