JCB sales rise
21 June 2011
Earnings for 2010 at UK equipment manufacturer JCB reached £ 235 million (€ 265,4 million) before interest, tax, depreciation and amortisation (EBITDA) - up from £ 94,5 million (€ 106,7 million) in 2009 - as the company celebrated its 65th birthday.
Sales in 2010 increased by 48% to £ 2 billion (€ 2,3 billion), rising from £ 1,35 billion (€ 1,5 billion) in 2009, while in 2010 JCB sold 51600 machines, compared to a 2009 figure of 36000 machines.
JCB chairman Sir Anthony Bamford said, "We started 2010 cautiously optimistic about trading prospects and I'm delighted that our optimism was rewarded with a very strong result for the year.
"The pace and strength of the recovery varied by market," he continued. "Growth was strongest in the BRIC (Brazil, Russia, India and China) countries and other developing economies, but some established markets - notably the UK and Germany - also performed satisfactorily."
He added that 2011 had also started well for the JCB Group, but said the company was still mindful of economic concerns which could hold back the recovery.
"We continue to invest in our manufacturing facilities, notably this year in India and Brazil and, of course, in new products, with 13 new machines launched so far in 2011."
In 2011, JCB plans to invest more than £ 20 million (€ 22,6 million) in modernising and increasing capacity at its 11 UK plants. The company is also investing in a new 32500 m2 factory in Sao Paulo, Brazil, for the manufacture of backhoe loaders and tracked excavators. The plant will become operational in early 2012.
The company has also opened an engine manufacturing plant in India which went into production this year.
JCB has officially marked its 65th anniversary with a celebration to coincide with the 95th anniversary of the birth of JCB's founder, the late Joseph Cyril Bamford.
Sir Anthony said, "In 65 years, we've gone from one man in a garage in Uttoxeter, Staffordshire, to a major global brand renowned for its pioneering spirit. All of this is down to our people. JCB is on the threshold of even greater success and it's our employees who will help drive our future."
