German oil and additives specialist Liqui Moly has reported turnover of €532m for 2017, a 9% increase over the €489m generated in 2016. Profit before tax reached €52m – another 9% rise over the previous year.
Managing director Ernst Prost, who sold his shares in the company to the Würth Group earlier this year, says Liqui Moly will be handing out a victory bonus of €11,000 to its 835-person strong workforce in recognition of their hard work.
“Including the employers’ share, we are distributing a sum of over €10m,” says Prost. “That brings me the greatest joy – and of course also the 50 jobs that we created last year. In the past two years, it was actually a total of 100.”
Prost announced that he was selling his majority share in the company to the Würth conglomerate back in December 2017. At the time, Prost said he wanted to “make provisions with a minimum of fuss, when things are going well and we don't have to decide under difficult circumstances.”
The Würth Group has been a silent partner of Liqui Moly for almost 20 years. With more than 70,000 employees and €12.5bn in sales, the group is bigger than Liqui Moly but is also a family-owned company.
Except for the change of owner behind the scenes, Prost says nothing has changed. He remains as CEO and Liqui Moly remains an independent company within the Würth Group. “Everything will continue just as before – just under a bigger roof that offers greater protection," Prost said in December.
Liqui Moly’s record sales for 2017 were announced yesterday. In addition to the €11,000 victory bonus for employees, Prost said he would also be privately donating €3m to the Ernst Prost Foundation and €1m to the Ernst Prost Foundation for Africa from the revenue obtained by selling Liqui Moly to Würth.
Founded in 1957, Liqui Moly develops and produces a range of oils, lubricants and additives for the automotive and marine markets. The company sells its products in more than 120 countries.