Liqui Moly increased its turnover during 2015 at 441 million euros, +20 million over 2014 figures, with a strong growth by 26% in Italy and growth by 7% both in Germany and Austria, and a overall increase by ‘only’ 5%, due to the weak situation in Russia, traditionally the most important foreign market for the motor oil and additive specialist. “Weak russian ruble – said Ernst Prost, managing partner at Liqui Moly – increased the price for products from the european area by more than 50%, and the economic crisis in Russia also decreased the demand significantly. In addition, we had continuing turbulence in once strong turnover markets such as Ukraine”.
The decrease was anyway compensated by other countries, and, most important for the company, the number of employees increased by 35, for a total of 731, and 16 more employees have been already hired in the first two months of 2016. Growth figures and flexibility usually experienced by a start-up, and an equity ratio of over 70%, allowing Liqui Moly to afford important investments: 13 million will provide a modernization and expansion for the oil factory in Saarlouis, with additional storage tanks, new laboratory facilities and production lines, and additional 5 million will follow in 2017, for the conversion of additional tank storage facilities and investments in energy supply.