Record-breaking year for JCB
Construction equipment firm reports record turnover and machine sales in 2017
JCB have set new records for turnover and machine sales in 2017 as global markets continued to rebound strongly during the year. The Staffordshire-based equipment manufacturer announced sales turnover last year rose by almost 28% to £3.35 billion (2016: £2.62 billion), while machine sales increased to 75,693 units (2016: 66,011).
Earnings before interest, tax, depreciation and amortization (EBITDA) jumped by almost 19% to £341 million (2016: £287 million). According to JCB, the market rebound has continued strongly in 2018 which has pushed the company’s global production levels to a record level of 500 machines per day.
Graeme Macdonald, chief executive officer of JCB, said: ‘Last year was a very strong year for us during which we outpaced the market and set new sales records. While the global market grew by over 21% last year, JCB’s sales increased by almost 28%.
‘This growth drove demand across all of JCB’s product ranges, in particular for Loadall telescopic handlers, where we are now investing in increased global production capacity.’
Commenting on the results, JCB chairman Sir Anthony Bamford said: ‘The continued growth in global markets in 2018 has seen JCB production rates reach their highest in our history. Employment levels across our plants are also at record highs and we now employ more than 15,000 people. In the UK alone we have recruited almost 1,100 people this year, which is superb news for JCB and great news for British manufacturing.’
To meet strong demand, JCB are currently investing more than £50 million in a new British plant which will have the capacity to manufacture around 100,000 cabs a year used on the company’s machines.
