Challenges from the global pandemic and raw materials shortage didn’t stop Liqui Moly from posting higher revenue and sales.
The company announced that it has seen a 26 per cent growth in sales and its revenue up 75 per cent in the first three quarters of the year.
“And it could be even more if we could only get enough ingredients for the production of our oils and additives,” says Ernst Prost, Liqui Moly’s managing director.
He added that the growth isn’t due to increased purchase prices. “Many raw materials are sometimes no longer available, even if you’re willing to put a lot of money on the table. This is no different to the automotive industry, which has to curb its production due to the lack of semiconductor chips.”
The company has invested heavily in marketing to counteract the affects of the COVID-19 pandemic. It has proved to be a move that is paying off, it said.
“If things continue at this pace, we are not only heading towards a new sales record, but also towards the strongest sales growth in many years — despite the pandemic and despite resource bottlenecks,” Prost said about the final quarter of the year.