Revenue and profits at the Kerry-based arm of Swiss crane manufacturer Liebherr soared last year, with demand prompting the division to boost its workforce to more than 840 people.
Sales at the Liebherr Container Cranes Ltd. Irish unit jumped 27pc to €325m, while operating profits almost doubled to €17m.
Container cranes made in Killarney by Liebherr are used in more than 100 ports around the world.
Liebherr Container Cranes Ltd. develops, produces, transports, and assembles machinery for port handling.
- The extensive product range of ship to shore container cranes ranges from the Panamax size category up to the latest generation of Megamax cranes and beyond.
- The wide product portfolio of stacker cranes and ship to shore container cranes provides ultimate flexibility.
- Rubber-tyred container stacker cranes in the RTG model series are characterized by their extremely high performance as the result of their unique hoist rope reeving arrangement.
- Liebherr rail-mounted stacker cranes in the RMG model series are available with customized spans and reaches thus making them ideal for individual port solutions. Additionally, they use state-of-the-art control and monitoring systems as well as the latest technologies for automatic container positioning.
Liebherr Rubber-tyred container stacker cranes
But despite the surge in operating profits, the unit’s bottom line declined, with pre-tax profits falling from €6.6m to €3.8m.
That fall was due to losses on foreign exchange movements during the year. Liebherr noted that its business strategy is strongly influenced by price developments of steel and components.
The accounts note that the Irish firm also paid a €5m dividend to its parent last year, down from €6.5m in 2014.
Its turnover last year included €316.1m from the sale of cranes, €7.6m from the sale of spares and €1.3m from servicing and rework.
The accounts also show that crane sales revenue from the Middle East plunged last year to €25.7m from €63.4m in 2014.
However, crane sales revenue from the Americas more than doubled from €63.3m to €129m.
In Europe, crane sales revenue jumped from €49.7m to €74.2m, while in Africa it rose sharply from €34.4m to €50.2m. Crane sales revenue in Oceania was flat at €36.7m.
Given the nature of its product, the Irish subsidiary’s shipping costs are high.
Its freight bill climbed to €23.6m last year from €21.9m in 2014. Contractual penalties rose to €6.8m from €4m.
At the end of 2015, the company employed 829 people – 100 more than at the end of 2014.
Its wage bill was €44.5m, compared to €37.9m in 2014.
The Liebherr family has become entrenched in Kerry. Hans Liebherr built a guesthouse in Kerry in the 1950s to accommodate visitors to the new factory in Killarney.
Liebherr Container Cranes Ltd. Fossa Killarney, Co. Kerry Ireland Factory
