JCB has been propelled by a growing global market, with record turnover and machine sales recorded for 2017.
The UK-based manufacturer announced in its full-year financial results that its sales turnover in 2017 was up almost 28% on the previous year, reaching £3.35 billion (€3.77 billion). Machine sales grew to 75,693 in 2017, from 66,011 the previous year.
Earnings on EBITDA (earnings before interest, taxes, depreciation and amortization) were reported to have risen by almost 19% to £341 million (€383.58 million), compared to £287 million (€322.84 million) in 2016.
JCB’s CEO Graeme Macdonald said, “2017 was a very strong year for JCB 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.”
According to the company, the market rebound has continued strongly in 2018, pushing JCB’s global production to a record level of 500 machines per day.
JCB’s chairman Lord 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.”
According to JCB, the company’s average return on investment has been over 30% since 1975.