Annual Report 2020
Consolidated Balance Sheet
| Assets in m € | 31/12/2020 | % | 31/12/2019 | % |
| Intangible assets | 37 | 0.3 | 42 | 0.3 |
| Tangible assets | 3,567 | 25.9 | 3,798 | 26.6 |
| Shares at equity | 12 | 0.1 | 13 | 0.1 |
| Non-current financial assets | 159 | 1.2 | 196 | 1.4 |
| Deferred tax assets | 236 | 1.7 | 323 | 2.2 |
| Non-current assets | 4,011 | 29.2 | 4,372 | 30.6 |
| Inventories | 4,099 | 29.8 | 4,425 | 31.0 |
| Receivables | 2,086 | 15.2 | 2,283 | 16.0 |
| Income tax receivables | 77 | 0.6 | 103 | 0.7 |
| Current financial assets | 1,424 | 10.4 | 1,377 | 9.6 |
| Liquid funds | 2,036 | 14.8 | 1,728 | 12.1 |
| Current assets | 9,722 | 70.8 | 9,916 | 69.4 |
| Total Assets | 13,733 | 100.0 | 14,288 | 100.0 |
| Equity and Liabilities in m € | 31/12/2020 | % | 31/12/2019 | % |
| Subscribed capital | 62 | 0.5 | 62 | 0.4 |
| Revenue reserves | 7,706 | 56.1 | 7,807 | 54.6 |
| Equity of Liebherr-International AG shareholders | 7,768 | 56.6 | 7,869 | 55.0 |
| Non-controlling interests | 16 | 0.1 | 15 | 0.1 |
| Equity | 7,784 | 56.7 | 7,884 | 55.1 |
| Non-current financial liabilities | 1,376 | 10.0 | 1,364 | 9.6 |
| Post-employment benefits | 1,013 | 7.4 | 966 | 6.8 |
| Deferred tax liabilities | 60 | 0.4 | 45 | 0.3 |
| Non-current provisions | 46 | 0.3 | 40 | 0.3 |
| Other non-current liabilities | 82 | 0.6 | 76 | 0.5 |
| Non-current liabilities | 2,577 | 18.7 | 2,491 | 17.5 |
| Current financial liabilities | 921 | 6.7 | 1,162 | 8.1 |
| Payments received in advance | 283 | 2.1 | 346 | 2.4 |
| Income tax liabilities | 112 | 0.8 | 103 | 0.7 |
| Current provisions | 643 | 4.7 | 608 | 4.3 |
| Other current liabilities | 1,413 | 10.3 | 1,694 | 11.9 |
| Current liabilities | 3,372 | 24.6 | 3,913 | 27.4 |
| Total equity and liabilities | 13,733 | 100.0 | 14,288 | 100.0 |
Consolidated Income Statement
| in m € | 31/12/2020 | % | 31/12/2019 | % |
| Sales revenue | 10,341 | 95.2 | 11,750 | 95.3 |
| Increase or decrease of work in progress and finished goods | -155 | -1.4 | 7 | 0.1 |
| Other own work capitalised | 329 | 3.0 | 312 | 2.5 |
| Other operating income | 344 | 3.2 | 257 | 2.1 |
| Operating income | 10,859 | 100.0 | 12,326 | 100.0 |
| Cost of materials | -5,452 | -50.2 | - 6,299 | - 51.1 |
| Personnel expenses | -2,847 | -26.2 | - 2,980 | - 24.2 |
| Depreciation on non-current assets | -543 | -5.0 | - 541 | - 4.4 |
| Other operating expenses | -1,601 | -14.7 | - 1,903 | - 15.4 |
| Operating expenses | -10,443 | -96.1 | - 11,723 | - 95.1 |
| Operating result | 416 | 3.9 | 603 | 4.9 |
| Finance income | 617 | 5.7 | 603 | 4.9 |
| Finance cost | -755 | -7.0 | - 458 | - 3.7 |
| At equity result | 0 | 0.0 | 0 | 0.0 |
| Finance result | -138 | -1.3 | 145 | 1.2 |
| Result before tax | 278 | 2.6 | 748 | 6.1 |
| Taxes on income | -271 | -2.5 | - 319 | - 2.6 |
| Result after tax | 7 | 0.1 | 429 | 3.5 |
| of which shareholders of Liebherr-International AG | 7 | 0.1 | 429 | 3.5 |
| of which non-controlling interests | 0 | 0.0 | 0 | 0.0 |
Consolidated Statement of Comprehensive Income
| in m € | 31/12/2020 | 31/12/2019 |
| Result after tax | 7 | 429 |
| Post-employment benefits | -6 | - 148 |
| Deferred tax | -34 | 31 |
| Items not recycled to profit or loss | -40 | - 117 |
| Foreign exchange translation differences | -104 | 40 |
| Changes of fair value in cash flow hedges | 74 | - 21 |
| Deferred tax | -13 | 7 |
| Items recycled to profit or loss | -43 | 26 |
| Other comprehensive income | -83 | - 91 |
| Comprehensive income | -76 | 338 |
| of which shareholders of Liebherr-International AG | -76 | 338 |
| of which non-controlling interests | 0 | 0 |
Consolidated Statement of Changes in Equity
| in m € | Subscribed capital | Value fluctuations on financial instruments | Foreign exchange translation differences | Other revenue reserve | Equity of Liebherr-International AG shareholders | Non-controlling interests | Group equity |
| 31/12/2018 | 62 | 6 | 0 | 7,485 | 7,553 | 17 | 7,570 |
| Result after tax | 429 | 429 | 0 | 429 | |||
| Other comprehensive income | - 14 | 40 | - 117 | - 91 | 0 | - 91 | |
| Comprehensive income | -14 | 40 | 312 | 338 | 0 | 338 | |
| Dividends | - 22 | - 22 | - 2 | - 24 | |||
| Changes in shares of non-controlling interests | 0 | 0 | 0 | 0 | |||
| 31/12/2019 | 62 | - 8 | 40 | 7,775 | 7,869 | 15 | 7,884 |
| Result after tax | 7 | 7 | 0 | 7 | |||
| Other comprehensive income | 61 | -104 | -40 | -83 | 0 | -83 | |
| Comprehensive income | 61 | -104 | -33 | -76 | 0 | -76 | |
| Dividends | -24 | -24 | 0 | -24 | |||
| Changes in shares of non-controlling interests | -1 | -1 | 1 | 0 | |||
| 31/12/2020 | 62 | 53 | -64 | 7,717 | 7,768 | 16 | 7,784 |
Consolidated Cash Flow Statement
| in m € | 31/12/2020 | 31/12/2019 |
| Result after tax | 7 | 429 |
| Depreciation on non-current assets | 543 | 541 |
| Value fluctuations marketable securities (current assets) | 7 | - 121 |
| Gain / Loss on disposal of non-current assets | 2 | 1 |
| Change of provisions and post-employment benefits | 88 | 55 |
| Other non-liquid expenses / income | 190 | - 16 |
| Change of stock | 195 | 110 |
| Change of receivables and other current assets | 227 | 24 |
| Change of other liabilities | -289 | - 31 |
| Change of rental fleet | -122 | - 19 |
| Net cash flow from operating activities | 848 | 973 |
| Payment for investments in intangible assets | -10 | - 33 |
| Payment for investments in tangible assets | -250 | - 402 |
| Payment for investments in marketable securities in current assets | -112 | - 103 |
| Proceeds from sales of intangible assets | 0 | 1 |
| Proceeds from sales of tangible assets | 14 | 23 |
| Proceeds from sales of marketable securities (current assets) | 58 | 90 |
| Other proceeds from investing activities | 15 | 0 |
| Net cash flow from investing activities | -285 | - 424 |
| Dividends paid, other distributions and equity capital repaid | -24 | - 24 |
| Proceeds from current or non-current financial liabilities | 438 | 400 |
| Repayment of current or non-current financial liabilities | -643 | - 442 |
| Change non-controlling interests | 1 | 0 |
| Net cash flow from financing activities | -228 | - 66 |
| Net decrease / increase in liquid funds | 335 | 483 |
| Foreign exchange translation difference on liquid funds at beginning of period and on cash flows | -27 | 6 |
| Liquid funds at beginning of period | 1,728 | 1,239 |
| Liquid funds at end of period | 2,036 | 1,728 |
| Income tax paid and reimbursed | -184 | - 322 |
| Interest paid | -32 | -38 |
| Interest received | 27 | 56 |
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Here you can access the Annual Report 2020 as a PDF file and also download “Facts and Figures” as a concise summary.