Annual Report 2022
Consolidated balance sheet
Assets in m € | 31/12/2022 | % | 31/12/2021 | % |
Intangible assets | 29 | 0.2 | 29 | 0.2 |
Tangible assets | 3,808 | 24.7 | 3,629 | 24.9 |
Investments accounted for using the equity method | 8 | 0.1 | 7 | 0.0 |
Non-current financial assets | 227 | 1.5 | 208 | 1.4 |
Deferred tax assets | 222 | 1.4 | 256 | 1.8 |
Non-current assets | 4,294 | 27.9 | 4,129 | 28.3 |
Inventories | 5,662 | 36.8 | 4,447 | 30.6 |
Receivables | 2,500 | 16.2 | 2,180 | 15.0 |
Income tax receivables | 84 | 0.5 | 82 | 0.6 |
Current financial assets | 1,394 | 9.1 | 1,565 | 10.8 |
Cash and cash equivalents | 1,465 | 9.5 | 2,145 | 14.7 |
Current assets | 11,105 | 72.1 | 10,419 | 71.7 |
Total assets | 15,399 | 100.0 | 14,548 | 100.0 |
Equity and liabilities in m € | 31/12/2022 | % | 31/12/2021 | % |
Share capital | 62 | 0.4 | 62 | 0.4 |
Other reserves and retained earnings | 8,596 | 55.8 | 8,290 | 57.0 |
Equity of Liebherr-International AG shareholders | 8,658 | 56.2 | 8,352 | 57.4 |
Non-controlling interests | 16 | 0.1 | 19 | 0.1 |
Equity | 8,674 | 56.3 | 8,371 | 57.5 |
Non-current financial liabilities | 1,235 | 8.0 | 1,213 | 8.3 |
Post-employment benefits | 678 | 4.4 | 996 | 6.9 |
Deferred tax liabilities | 63 | 0.4 | 63 | 0.4 |
Non-current provisions | 34 | 0.2 | 42 | 0.3 |
Other non-current liabilities | 64 | 0.4 | 70 | 0.5 |
Non-current liabilities | 2,074 | 13.4 | 2,384 | 16.4 |
Current financial liabilities | 1,101 | 7.2 | 823 | 5.7 |
Payments received in advance | 665 | 4.3 | 427 | 2.9 |
Income tax liabilities | 130 | 0.8 | 111 | 0.8 |
Current provisions | 682 | 4.5 | 656 | 4.5 |
Other current liabilities | 2,073 | 13.5 | 1,776 | 12.2 |
Current liabilities | 4,651 | 30.3 | 3,793 | 26.1 |
Total equity and liabilities | 15,399 | 100.0 | 14,548 | 100.0 |
Consolidated income statement
in m € | 31/12/2022 | % | 31/12/2021 | % |
Turnover | 12,589 | 91.7 | 11,639 | 95.4 |
Increase or decrease of work in progress and finished goods | 524 | 3.8 | -24 | -0.2 |
Other own work capitalised | 328 | 2.4 | 333 | 2.7 |
Other operating income | 289 | 2.1 | 261 | 2.1 |
Operating income | 13,730 | 100,0 | 12,209 | 100.0 |
Cost of materials | -7,554 | -55.0 | -6,505 | -53.3 |
Personnel expenses | -3,394 | -24.7 | -3,072 | -25.2 |
Depreciation of non-current assets | -528 | -3,8 | -507 | -4.2 |
Other operating expenses | -1,800 | -13.1 | -1,413 | -11.6 |
Operating expenses | -13,276 | -96.6 | -11,497 | -94.3 |
Operating result | 454 | 3.4 | 712 | 5.7 |
Finance income | 1,353 | 9.9 | 593 | 4.9 |
Finance cost | -1,562 | -11.4 | -493 | -4.0 |
Share of net profit of associates and joint ventures accounted for using the equity method | 1 | 0.0 | 0 | 0.0 |
Finance result | -208 | -1.5 | 100 | 0.9 |
Result before tax | 246 | 1.9 | 812 | 6.6 |
Taxes on income | -244 | -1.8 | -267 | -2.2 |
Result after tax | 2 | 0.1 | 545 | 4.4 |
of which shareholders of Liebherr-International AG | 1 | 0.1 | 544 | 4.4 |
of which non-controlling interests | 1 | 0.0 | 1 | 0.0 |
Consolidated statement of comprehensive income
in m € | 31/12/2022 | 31/12/2021 |
Result after tax | 2 | 545 |
Post-employment benefits | 345 | 54 |
Deferred tax | -46 | -10 |
Items that will not be reclassified to profit or loss | 299 | 44 |
Foreign exchange translation differences | 51 | 82 |
Changes of fair value in cash flow hedges | 3 | -74 |
Deferred tax | 1 | 13 |
Items that may be reclassified to profit or loss | 55 | 21 |
Other comprehensive income | 354 | 65 |
Comprehensive income | 356 | 610 |
of which shareholders of Liebherr-International AG | 355 | 607 |
of which non-controlling interests | 1 | 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 of Liebherr-International AG shareholders | Non-controlling interests | Group equity |
31/12/2020 | 62 | 53 | -64 | 7,717 | 7,768 | 16 | 7,784 |
Result after tax | 544 | 544 | 1 | 545 | |||
Other comprehensive income | -61 | 80 | 44 | 63 | 2 | 65 | |
Comprehensive income | -61 | 80 | 588 | 607 | 3 | 610 | |
Dividends | -23 | -23 | 0 | -23 | |||
Changes in shares of non-controlling interests | 0 | 0 | 0 | 0 | |||
31/12/2021 | 62 | -8 | 16 | 8,282 | 8,352 | 19 | 8,371 |
Result after tax | 1 | 1 | 1 | 2 | |||
Other comprehensive income | 4 | 51 | 299 | 354 | 0 | 354 | |
Comprehensive income | 4 | 51 | 300 | 355 | 1 | 356 | |
Dividends | -50 | -50 | 0 | -50 | |||
Changes in shares of non-controlling interests | 1 | 1 | -4 | -3 | |||
31/12/2022 | 62 | -4 | 67 | 8,533 | 8,658 | 16 | 8,674 |
Consolidated cash flow statement
in m € | 31/12/2022 | 31/12/2021 |
Result after tax | 2 | 545 |
Depreciation of non-current assets | 528 | 507 |
Fair Value changes in marketable securities (current assets) | 209 | -81 |
Gain / Loss on disposal of non-current assets | 2 | 4 |
Change in provisions and post-employment benefits | 40 | 41 |
Other non-cash items | -62 | -69 |
Change in stock | -1,168 | -278 |
Change in receivables and other current assets | -341 | -181 |
Change in other liabilities | 547 | 468 |
Change in rental fleet | -154 | -118 |
Net cash flow from operating activities | -415 | 838 |
Payment for investments in intangible assets | -10 | -9 |
Payment for investments in tangible assets | -500 | -357 |
Payment for investments in marketable securities in current assets | -220 | -236 |
Proceeds from sales of tangible assets | 24 | 14 |
Proceeds from sales of marketable securities (current assets) | 189 | 178 |
Other proceeds from investing activities | 13 | 11 |
Net cash flow from investing activities | -503 | -399 |
Dividends paid, other distributions and equity capital repaid | -50 | -23 |
Proceeds from current or non-current financial liabilities | 779 | 281 |
Repayment of current or non-current financial liabilities | -500 | -598 |
Net cash flow from financing activities | 229 | -340 |
Net decrease / increase in cash and cash equivalents | -689 | 99 |
Effects of exchange rate changes on cash and equivalents | 9 | 10 |
Cash and cash equivalents at beginning of period | 2,145 | 2,036 |
Cash and cash equivalents at end of period | 1,465 | 2,145 |
Income tax paid and reimbursed | -238 | -288 |
Interest paid | -41 | -28 |
Interest received | 43 | 38 |
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