JCB profit recovery continues as outlook looks uncertain

JCB today announced that its profits and turnover rose in 2022 but is warning of a less certain outlook for the coming year.
Loading, Hauling & Excavation / September 25, 2023
By Guy Woodford
Ready to go: JCB backhoe loaders await delivery to customers. Pic: JCB

The Rocester, Staffordshire, England-headquartered global construction and quarrying machinery giant's sales turnover in 2022 grew to £5.7 billion (2021: £4.4 billion), and profit before tax grew to £557.7 million (2021: £501.6 million). Machine sales increased to 105,148 (2021: 95,650). The Group maintained a strong balance sheet with no net borrowings throughout 2022.

Graeme Macdonald
JCB CEO Graeme Macdonald. Pic: JCB

JCB CEO Graeme Macdonald said: "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. 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."

Among major off-highway equipment manufacturers leading the way in alternative fuel-powered machines, JCB showcased its super-efficient hydrogen combustion technology internationally for the first time at CONEXPO/CON-AGG 2023 in Las Vegas (14-18 March).

JCB has been responsible for a series of industry innovations on its Road to Zero, leading the way in environmental, social and governance (ESG) for the construction equipment sector. 

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