Net sales for German lubricant and aftermarket additive manufacturer Liqui Moly increased 20% in 2021, boosted by growth in sales in the United States and Canada, the company reported last week.
The company had net sales of €733 million (U.S. $829 million) during last year, compared to €611 million in 2020. The 2021 level was also 29% higher than €569 million in 2019.
“This is much more than we expected in view of the difficult year,” Managing Director Ernst Prost said in a Jan. 19 press release. “It shows what is possible, despite these adverse circumstances.” The company noted that the COVID-19 pandemic, a shortage of raw materials and strained supply chains were all hurdles last year, both for net sales and for lubricant production. “Not just for us, but for the entire industry,” Prost added.
Despite these factors, the company produced 105,000 metric tons of lubricants last year, 27% more than 2020. These included the raw materials shortage, “which not only upset the price structure but led to real bottlenecks and distortions in global logistics, which made it equally difficult to obtain the raw materials in the first place and then ship the finished products to customers,” the company said in its press release.
It added that certain types of motor oils are becoming more complex to make. The company attributed the production increase in part to continuous investment in modernizing production and logistics.
The company said it expanded its business areas, restructuring its business with filling stations in Germany and Austria. Sales for these two countries grew by 12%. In Austria, the company founded a subsidiary this month to further expand its position in the market.
Amongst overseas markets, Liqui Moly USA increased its net sales by 50%, making the United States the most important export market for the company.
Liqui Moly also expanded its labor force last year by 19 people to 1,008.