JCB reveals financial results and machine sales

JCB saw its profits and turnover increase in 2022 Photo: JCB

One of construction’s largest OEMs, JCB has announced that its profits and turnover increased in 2022 but has said that the situation for 2024 remains ‘uncertain’ as some markets are weakening.

The company produce both construction and agricultural machinery and the results are for all its equipment sales. Sales turnover in 2022 grew to £5.7 billion (US$6.9 billion) from £4.4 billion (US$5.3 billion) in 2021 and profit before tax grew to £557.7 million (US$681.6 million), up from £501.6 million (US$613.1 million) in 2021.

Machine sales increased to 105,148 from 95,650 in 2021. The Group maintained a strong balance sheet with no net borrowings throughout 2022.

“The Group delivered a strong set of results in 2022 against a backdrop of supply chain disruption, high energy prices and rising levels of inflation,” said JCB CEO, Graeme Macdonald.

“The situation for the remainder of this year and into 2024 remains uncertain as some markets and certain sectors are showing early signs of softening.”

To see how JCB compare to the world’s biggest OEMs see the latest International Construction Yellow Table.