Liebherr Group turnover decreased by 1.6% in 2014

Liebherr's construction machinery and mining division achieved a turnover of $5.9bn or $373.2m, 6% below the previous year figure.

"The result was positive, however, in the area represented by the maritime cranes, aerospace and transportation systems, machine tools and automation systems, domestic appliances, components and hotels divisions, with an increase in turnover of 5.8%," the company said.

The business year in Western Europe progressed satisfactorily for the Liebherr Group. In Germany, the group's largest market, turnover exceeded the previous year's figure.

The pattern of business was also positive in America, with a satisfying increase in the US in particular. Turnover dropped in the Far East/Australia region. Very weak dynamic growth in Russia, the group's largest Eastern European market, had a distinct effect on the region's overall turnover.

Sales revenue also fell on the African continent. In the Near and Middle East the group achieved turnover slightly above the previous year's level, said the statement.

The profit for the reporting period was $351m but dropped $53.3m compared with the previous year.

The Liebherr Group attaches great importance to investment in production and in worldwide sales and service, in order to pave the way for continued successful development. Last year the group invested in the expansion and modernisation of its worldwide production network an in strengthening its sales and service organisation.