German motor oil and additive manufacturer LIQUI MOLY closed November with its highest ever monthly sales. The company generated revenue of EUR 45.5 million (approximately $47.52 million USD) last month. Achieving a figure EUR 453 million (approximately $473 million USD) for the first 11 months of the year, LIQUI MOLY has already significantly exceeded its prior-year sales.
The company says the result reflects what has been a highly successful year for the company. March and April 2016 already saw all-time monthly highs, with November setting a new sales record for the third time in the year. The November figure is an increase of 20 percent over the previous month.
“Success and failure are not solely down to luck, it’s a question of people’s attitudes too. The ability to work together and pursue a common goal is crucial. We demonstrated we are capable of this in November and in the previous months,” said LIQUI MOLY CEO Ernst Prost. “All of our 800 staff have been working full out ever since January. And in spite of the fast pace, we’re even managing to go that extra mile as the year draws to a close. The company is truly flourishing and showing excellent growth.”
In addition, the company says the development is impacting workforce numbers. Almost 50 jobs were created at the company’s sites in Germany, while the team in the U.S. has virtually doubled over the course of the year. And, in the company’s biggest export market of Russia, sales have been kept at a constant level despite the Ukraine crisis and a sharp drop in the ruble. The company also says there are strong indications of growth in the U.K. in spite of Brexit, and the workforce has been expanded there as well.
Prost says that another reason for the company’s success is the diversification of its product range beyond the automotive sector. Related business fields have been systematically penetrated: two years ago the range of motorcycle products was boosted significantly, for example, and the Marine line was launched this year. There are a variety of new products for construction machinery, and dedicated product lines even exist for vintage cars and aircraft. Prost says this knowledge transfer works well because the fundamental technical requirements are very similar: combustion engines, lubrication, deposit removal, maintenance and protection from wear and tear.
Prost added, “Ultimately, we’ve been very lucky with our business model, of course. There are combustion engines all over the world and they all need lubrication. Cars and trucks are still increasing in number, so it’s hardly surprising we’re able to do business all round the world. And we’re certainly fortunate to be based in Germany, the home of the automotive industry. Our brand already has a positive aura, and ‘made in Germany’ does a lot to reinforce that…”
