Liebherr annual report 2024: Financial statements

Annual report 2024

Consolidated balance sheet

Assets in € m	31/12/2024	%	31/12/2023	%
Intangible assets	34	0.2	23	0.1
Property, plant and equipment	4,151	24.3	3,999	24.4
Investments accounted for using the equity method	6	0.0	3	0.0
Non-current financial assets	135	0.8	166	1.0
Deferred tax assets	299	1.7	248	1.5
Non-current assets	4,625	27.0	4,439	27.0
Inventories	6,405	37.5	6,409	39.1
Receivables	2,857	16.7	2,832	17.3
Prepaid income taxes	90	0.5	84	0.5
Current financial assets	1,590	9.3	1,552	9.5
Cash and cash equivalents	1,532	9.0	1,089	6.6
Current assets	12,474	73.0	11,966	73.0
Total assets	17,099	100.0	16,405	100.0
Equity and liabilities in € m
Share capital	62	0.4	62	0.4
Other reserves and retained earnings	8,820	51.6	8,821	53.8
Equity attributable to Liebherr shareholders	8,882	52.0	8,883	54.2
Non-controlling interests	20	0.1	18	0.1
Equity	8,902	52.1	8,901	54.3
Non-current financial liabilities	1,747	10.2	1,496	9.1
Post-employment benefits	902	5.3	813	4.9
Deferred tax liabilities	74	0.4	73	0.4
Non-current provisions	34	0.2	33	0.2
Other non-current liabilities	34	0.2	35	0.2
Non-current liabilities	2,791	16.3	2,450	14.8
Current financial liabilities	962	5.6	1,230	7.5
Advance Payments	962	5.6	652	4.0
Income tax liabilities	236	1.4	176	1.1
Current provisions	821	4.8	818	5.0
Other current liabilities	2,425	14.2	2,178	13.3
Current liabilities	5,406	31.6	5,054	30.9
Total equity and liabilities	17,099	100.0	16,405	100.0

Consolidated income statement

in € m	31/12/2024	%	31/12/2023	%
Revenue	14,622	95.0	14,042	91.6
Increase or decrease of work in progress and finished goods	105	0.7	547	3.6
Other own work capitalised	298	1.9	420	2.7
Other operating income	375	2.4	328	2.1
Operating income	15,400	100.0	15,337	100.0
Cost of materials	-8,181	-53.1	-8,384	-54.7
Personnel expenses	-4,014	-26.1	-3,714	-24.2
Depreciation and amortization expenses	-589	-3.8	-623	-4,1
Other operating expenses	-1,942	-12.6	-1,997	-13.0
Operating expenses	-14,726	-95.6	-14,718	-96.0
Operating result	674	4.4	619	4.0
Finance income	829	5.4	873	5.7
Finance expenses	-886	-5.8	-824	-5.4
Finance result	-57	-0.4	49	0.3
Result before tax	617	4.0	668	4.3
Income taxes	-359	-2.3	-301	-2.0
Result after tax	258	1.7	367	2.3
attributable to Liebherr	254	1.7	364	2.3
attributable to non-controlling interests	4	0.0	3	0.0

Consolidated statement of comprehensive income

in € m	31/12/2024	31/12/2023
Result after tax	258	367
Post-employment benefits	-56	-106
Deferred taxes	0	18
Items that will not be reclassified to profit or loss	-56	-88
Foreign exchange translation differences	-39	-58
Changes of fair value in cash flow hedges	-139	94
Deferred taxes	31	-27
Items that may be reclassified to profit or loss	-147	9
Other comprehensive income	-203	-79
Comprehensive income	55	288
attributable to Liebherr	51	285
attributable to non-controlling interests	4	3

Consolidated statement of changes in equity

in € m	Share capital	Financial assets at OCI	Foreign exchange translation differences	Other reserves and retained earnings	Equity Liebherr	Non-controlling interests	Group equity
31/12/2022	62	-4	67	8,533	8,658	16	8,674
Result after tax				364	364	3	367
Other comprehensive income		67	-58	-88	-79	0	-79
Comprehensive income		67	-58	276	285	3	288
Dividends				-51	-51	-1	-52
Changes under company law				-9	-9	0	-9
31/12/2023	62	63	9	8,749	8,883	18	8,901
Result after tax				254	254	4	258
Other comprehensive income		-108	-39	-56	-203	0	-203
Comprehensive income		-108	-39	198	51	4	55
Dividends				-52	-52	-2	-54
31/12/2024	62	-45	-30	8,895	8,882	20	8,902

Consolidated cash flow statement

in € m	31/12/2024	31/12/2023
Result after tax	258	367
Depreciation and amortization expenses	589	623
Fair value changes in marketable securities (current assets)	-73	-98
Gain / loss on disposal of non-current assets	4	0
Change in provisions and post-employment benefits	39	163
Other non-cash items	-59	60
Change in stock	-5	-829
Change in receivables and other current assets	-146	-237
Change in other liabilities	627	133
Change in rental fleet	-63	-192
Net cash flow from operating activities	1,171	-10
Payment for investments in intangible assets	-24	-7
Payment for investments in tangible assets	-608	-572
Payment for investments in financial assets	-9	-32
Payment for investments in marketable securities in current assets	-44	-177
Proceeds from sales of intangible assets	0	1
Proceeds from sales of tangible assets	5	15
Proceeds from sales of financial assets	0	2
Proceeds from sales of marketable securities (current assets)	72	115
Other proceeds from investing activities	12	12
Net cash flow from investing activities	-596	-643
Dividends paid, other distributions and equity capital repaid	-54	-52
Proceeds from current or non-current financial liabilities	777	895
Repayment of current or non-current financial liabilities	-851	-542
Other payments on financial activities	0	-8
Net cash flow from financing activities	-128	293
Net decrease / increase in cash and cash equivalents	447	-360
Effects of exchange rate changes on cash and equivalents	-4	-16
Cash and cash equivalents at beginning of period	1,089	1,465
Cash and cash equivalents at end of period	1,532	1,089
Income tax paid and reimbursed	-325	-278
Interest paid	-134	-89
Interest received	77	63

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Annual report 2024

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