Construction News

Thu October 18 2018

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JCB sales rise 28% to reach new heights

1 Oct JCB has reported that its 2017 sales reached a record high on the back of global recovery in demand for construction and agricultural machinery.

JCB has invested £110m in the launch of the new X-Series excavator this year
JCB has invested £110m in the launch of the new X-Series excavator this year

The Staffordshire-based manufacturer revealed that its sales turnover rose by almost 28% in 2017 to reach £3.35bn (2016: £2.62bn).

JCB’s global production levels reached record levels of 500 machines per day. In 2017 JCB sold 75,693 machines of various types (2016: 66,011).

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 19% to £341m (2016: £287m).

Chief executive Graeme Macdonald said: “2017 was a very strong year for JCB during which we outpaced the market and set new sales records. While the global market grew by over 21% last year, JCB’s sales increased by almost 28%. This growth drove demand across all of JCB’s product ranges, in particular for Loadall telescopic handlers, where we are now investing in increased global production capacity.”

Chairman Lord Bamford said: “The continued growth in global markets in 2018 has seen JCB production rates reach their highest in our history. Employment levels across our plants are also at record highs and we now employ more than 15,000 people. In the UK alone we have recruited almost 1,100 people this year, which is superb news for JCB and great news for British manufacturing.”

JCB has 22 factories around the world, including 11 in the UK and JCB’s UK plants now employ a record 7,600 people. JCB is currently investing £50m in a new plant in Uttoxeter to manufacture cabs for its machines. This factory will open in 2019.

MPU

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