Contractors World

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Contractors World 2011 Volume 2 Issue 10
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Liebherr find winning formula
in tough global economic times

The difficult trading conditions have been very demanding for manufacturers around the world as construction related developments are severely reduced if not stopped altogether. Futuristic plans have been put back again and, as such remain futuristic plans. Many of these will never begin as Governments implement budgetary cuts in order to balance the books.

    The German group, Liebherr, recently spelt out its position. Mr Winfried Boehm, (picture right) a member of the board of directors of Liebherr-International AG, gave a brief outline to the overall groups performance before handing over to other speakers for more specific reports.

He said “As you will be well aware, world economic growth slowed down noticeably in the first half of 2011. Whereas global gross domestic product rose by a total of 4.6 percent in the previous year, the increase in the first six months of 2011 was only 3.1 percent, with the result that world trade developed in a more restrained manner.

“In the summer of this year, the prospects grew steadily less favourable. Among the challenges confronting the world as a whole were the natural disaster in Japan, the domestic budget crisis in the USA and the lowering of its credit rating and the debt crisis within the Eurozone.

“Although it is currently considered unlikely that we shall be plunged into a recession, many nations have significantly reduced their growth forecasts because they anticipate a cooling down of the situation. Industrial countries are assuming that a lengthy phase of more moderate growth will now take place, this development being supported by threshold countries that remain strong.

It is gratifying to note that, according to the Euroconstruct estimate, Europe has on the whole passed through the low point in the construction industry. Despite this, the industry is finding it difficult to shake off the crisis in countries such as Spain, Ireland and Portugal. The same applies to Great Britain and several smaller Central and Eastern European countries.

“As far as world trade is concerned, the World Trade Organisation (WTO) is now assuming that growth will be no more than 5.8 percent, whereas the forecast published in April still referred to 6.5 percent.”

This was a very downward looking statement, it was therefore somewhat uplifting to hear Mr Boehm continue in a more positive light. He continued “For the Liebherr Group ,we currently anticipate a turnover for the year of 8.6 billion EUR, equivalent to an increase of approximately 13 percent or rather more than 1 billion EUR.

“According to the current forecast the construction machinery area will grow at more than the average rate: we are assuming that our turnover will grow by approximately 16 percent or 750 million EUR to almost 5.5 billion EUR. This increase is due entirely to the earthmoving, mining, construction cranes and mixing technology divisions.

cwmags: Liebherr Group Turnover 2006-2011“The first of these will in all probability increase its turnover by some 26 percent or 637 million EUR to rather more than 3 billion EUR. In the construction cranes and mixing technology division, we currently anticipate that sales revenue will increase by approximately 25 percent or 128 million EUR, to about 648 million EUR. With regard to the mobile cranes division, on the other hand, we expect that the existing level of turnover will be maintained at a total of almost 1.8 billion EUR.

“Sales revenues from divisions outside the construction machinery sector will be in the region of 9 percent or 267 million EUR higher than the previous year’s figure.

“As you can see, with the exception of other products and services, all our business areas will achieve a further increase in turnover .”

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