The world market volume for large electrical appliances fell slightly for the second year running in 2023. Geopolitical developments, along with factors negatively impacting investment such as increasing energy prices and interest rates, rising construction costs and inflation, dampened consumer confidence to levels below the long-term average. A distinct market saturation and an out-of-home focus among consumers have been seen in the wake of the pandemic.

However, revenue grew in the European Union, largely thanks to Germany, the Netherlands and Belgium. A slight decline in revenue was recorded in the non-EU countries, as well as in the Central and South America region and Asia and Oceania. Good performance in the USA and, to a lesser extent, in Canada resulted in strong revenue growth in North America. In the Africa, Near and Middle East region, revenue rose slightly, driven mainly by Qatar and the United Arab Emirates.

In 2023, replacement purchases, multi-door appliances and smart functions were at the forefront of consumers’ minds, as were cooling capacity and convenience. A heightened awareness of energy efficiency and the use of environmentally friendly materials is clearly evident and is being promoted by legislation. Liebherr again responded to these demand trends in the last business year with various new products and innovations.

A highlight in the expansion of the new free-standing appliance series is the introduction of the innovative BluRoX technology in the door of the FNb5056 freezer on the German market. Instead of conventional polyurethane foam, the new vacuum perlite technology uses a more effective form of cold insulation: a vacuum. Finely ground volcanic rock, known as perlite, stabilises the vacuumed components. The benefits include outstanding energy efficiency, circular product design and more space inside the appliance. The BluRoX insulation is around a third thinner, increasing the internal volume by around 25%.

The new series of GrandCru and GrandCru Selection wine storage fridges was also launched with new designs and functions for ideal storage in the perfect temperature and humidity. For example, the HumidityControl function can be used to create and maintain a perfect storage climate.

In digital products, Liebherr launched the HNGRYnsite modular fridge camera, which has been on the market in Germany, Austria and the United Kingdom since summer 2023 and works with the existing HNGRY app. The camera takes a picture inside the fridge as soon as the door closes and updates it in the app. The camera and app thus provide real-time support during shopping and can prevent poor purchases and food waste.

Liebherr anticipates further growth in revenue for the 2024 business year in the refrigerators and freezers segment.

Liebherr achieved revenue of €1,171 million in the refrigerators and freezers product segment in the 2023 business year. This represents a year-on-year increase of €19 million or 1.6 %.