JCB claims record 2011
By Helen Wright23 April 2012
UK-based construction equipment manufacturer JCB reported a 37% year-on-year increase in revenues in 2011 to £2.75 billion (€3.36 billion) - the highest level in its 66-year history.
Earnings before interest, tax, depreciation and amortisation (EBITDA) reached £355 million (€435 million) last year, compared to £235 million (€288 million) in 2010. The company said machine sales rose to 69,100 units, up from 51,600 sold in 2010.
JCB chairman Sir Anthony Bamford said the record performance was delivered on the back of strong growth in both traditional markets and the emerging economies.
"While we are mindful of the continuing economic and political uncertainties in some parts of the world, JCB's on-going investment in its 22 global factories, coupled with the biggest product launch programme in our history, means we are well placed to seize new opportunities for growth and deliver another strong performance in 2012," Sir Anthony said.
He said the company was investing heavily in manufacturing facilities in the UK and overseas, highlighting that later this year a new 32,516m2 factory will start producing backhoe loaders and excavators in Sao Paulo, Brazil.
"Substantial investment in research and development continues to keep JCB at the forefront of construction equipment technology, including engine development programmes to improve fuel efficiency further and meet legislative requirements," Sir Anthony added.
In 2012, JCB plans to unveil a total of 66 innovative new products for global markets.