JCB post record financial results
First publishedon www.AggBusiness.com
JCB, the world’s third largest manufacturer of construction equipment, have announced record financial results for 2011. Turnover last year rose to the highest level in the company’s 66-year history at £2.75 billion (€3.36 billion), 37% greater than the £2 billion achieved in 2010 and more than double the £1.35 billion sales recorded in 2009.
Earnings before interest, tax, depreciation and amortization (EBITDA) reached a record £355 million and machine sales rose to 69,100 units, compared with 51,600 in 2010.
JCB chairman Sir Anthony Bamford said: ‘This record financial performance has been delivered on the back of very 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, the company’s ongoing 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.’
JCB is investing heavily in manufacturing facilities in the UK and overseas, and later this year a new factory will start producing backhoe loaders and excavators in Sao Paulo, Brazil. This year will also see the unveiling of a total of 66 new products for global markets.