Source: LIQUI MOLY announcement
LIQUI MOLY is still growing fast: The oil, brake fluid and additive specialist increased its turnover in March to €65 million, a rise of 19 percent compared to the same month in the previous year.
“We are now reaping what we sowed last year,” said Managing Director Ernst Prost commenting on March performance.
A year ago, when the Covid-19 pandemic spread and uncertainty gripped the economy, LIQUI MOLY decided to really step on the gas. The company quickly doubled its marketing expenditure to counter the falling demand.
Sales Up Dramatically in 2020 for LIQUI MOLY
“In this way, we made our own economy to a certain extent,” summed up Prost.
This was all the more successful as many competitors cut their budgets and reduced their service at the same time.
“It enabled us to maneuver into a very good starting position for the global economy, which is now picking up again,” he said.
At €168 million, sales for the first three months of 2921 are at the same level as in the previous year. This is because the first quarter of 2020 was particularly strong, before the pandemic also affected LIQUI MOLY’s sales.
The profit of €2.8 million is also just as high as in the same quarter last year.
“With our solid start in the first quarter, we have tail wind and the opportunity to make 2021 LIQUI MOLY’s most successful year, despite any difficulties the pandemic may still offer us,” Prost explained. “Success is not just about bringing in more revenue, it also means creating more secure jobs. We hired more than 100 people during the pandemic, together with a job guarantee!”
About LIQUI MOLY
With around 4,000 items, LIQUI MOLY offers a global, uniquely broad range of automotive chemicals: Motor oils, brake fluid and additives, greases and pastes, sprays and car care, glues and sealants. Founded in 1957, LIQUI MOLY develops and produces exclusively in Germany. There it is repeatedly voted the best oil brand. The company sells its products in more than 150 countries and generated €611 million in sales in 2020.