Skip to main content

Liqui Moly Reports Earnings

Günter Hiermaier

Günter Hiermaier

German lubricant and additive company Liqui Moly this week released a summary of earnings for the first half of the year. The company reported an 8 percent increase in sales to €382 million ($392 million), which fell short of its 10 percent projection.

“I’m satisfied with it, but not happy,” managing director Günter Hiermaier said in a statement. “We are struggling with extreme costs. Raw material prices are rising to unprecedented levels, which we unfortunately also have to pass on to our customers in some cases.”

Hiermaier said additional headwinds affected the company’s bottom line.

“Due to the raw material situation, we have reserve orders amounting to millions,” he said. “In addition, there is a shortfall of around €20 million [$20.5 million] in the first half of the year from [suspending] the Russian business, which the company is waiving of its own accord. Russia had been one of the company’s largest sales markets. There also were losses in the millions from the Chinese business, which almost came to a standstill due to the long [Covid-19] lockdown in China.”

Hiermaier added that it is “remarkable that we achieved sales growth of 8 percent in these disastrous circumstances. We owe this primarily to our loyal customers, our sales team and our colleagues in production.” 

Related

VOLVO-EARNINGS

Volvo Penta Reports Q4, FY22 Results

Net sales of $470 million for the quarter were a 33% increase compared to the prior year period.

Pulse-Report

DEALERS: Are You Improving the Service Experience?

Our monthly Pulse Report survey asks this and other questions about your dealership. Take the survey here.

NMRA-SCHOLARSHIP

NMRA Sets Scholarship Deadline

Students pursuing education in the marine trades can apply for the National Marine Representatives Association awards until April 1.

MARINE-PRODUCTS

Marine Products Reports Record Q4

The builder of Chaparral and Robalo boats reported net sales were up 42% for the quarter and 28% for fiscal year 2022.

1_SHURHOLD

Shurhold Appoints COO

Forrest Ferrari has years of management, business development, IT and quality-assurance experience.

MOBILE-CATCH-CENTER

RBFF, Pure Fishing Partner for a First Catch Center

Pure Fishing will equip a mobile trailer with tackle and gear to bring fishing experiences to areas of South Carolina where participation is low.

Norm

An Oft-Overlooked Sales Opportunity

A recent report from the Recreational Boating & Fishing Foundation showed that women comprise 37% of all anglers. If you haven’t tapped this segment, you’re missing out.

1. 2023 new boat retail outlook

Too Many High-Priced Boats

To wrap up 2022, marine retailers reported lower demand, expressed more negative sentiment and voiced concerns about rising inventory. Boat prices and the economy remained top of mind for dealers in December.

Soundings Nov 2022

New-Boat Registrations Continue to Slide

As the gaudy sales figures from the pandemic continue to return to more realistic numbers, the main segments of the recreational boating industry saw new-model registrations of 4,421 in November, a 30.3% drop from 6,340 during the same time in 2021. .