LIQUI MOLY slides up to $1 billion in 2023
German motor oil and additive producer LIQUI MOLY has reported a 15 percent sales increase to EUR 917 million (nearly $1 billion USD) in 2023. The German lubricant company is a major supporter of motorcycle and PWC racing and powersports dealers.
LIQUI MOLY‘s two managing directors, Günter Hiermaier and Dr. Uli Weller, were pleased with the sales results as the company plans to invest more than EUR 20 million in its factories to strengthen production and logistics, Powersports Business has learned.
“Our goal is to achieve a turnover of one billion euros in 2025. It looks like we’ll make it a year earlier,” says Günter Hiermaier confidently.
Dr. Weller, who has also been managing director of the Ulm-based company for a year, is equally positive about 2023: “The general conditions were extremely poor. We were hit hard by energy prices, logistics costs and inflation. We cannot and do not want to pass on the increased costs 1:1 to our customers. We are left with the lion’s share of the price increases. The only thing that helps is to make savings where it doesn’t hurt anyone and to sell more.”
The company says production and sales volumes are increasing. “We have reached our capacity limit in additive production. More than 18.5 million cans came off the production line in Ulm. Our expansion of production will provide relief here. We are planning 22 million cans in 2024,” says Hiermaier.
“Our filling systems for small containers are reaching their capacity limits with these quantities. We have invested heavily here to increase volume output,” says Dr. Weller. “With constant growth, we would have reached our upper limit in three years if we had not continued to invest in the location.”
The managing directors are clear on where the journey is heading. “We will continue to grow. The billion mark is not the limit. We have our sights firmly set on the second billion,” both of them say confidently.
”Sales of motor oils and additives are likely to decline within the EU over the next two decades. Internationally, e-mobility plays a minor role. Nevertheless, we want to be strong as a brand in the EU, which is why we will continue to develop our existing range for electric and hybrid vehicles,” reports Dr. Uli Weller.
Günter Hiermaier emphasizes that “we are driving forward internationally what has made us strong in Germany. And that’s our excellent personal service. Our competitors are making massive job cuts in this area. We are stepping up our headcount and, with a concentrated sales force, entering markets that are as yet untapped. You can see from our subsidiaries that this strategy is working.”
The company enjoys the full backing of its parent company Würth in all its endeavours. “We continue to operate independently. The central management board trusts and strengthens us in our path. Our cooperation is based on mutual respect. We and all our co-entrepreneurs see ourselves as LIQUI MOLY. This is central to our self-image, our team spirit, and our strong brand,” says Günter Hiermaier.
