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JCB posts record financial results for 2011
Posted By Tina Grady Barbaccia On April 17, 2012 @ 11:18 am In Aggman Newsletter,Economics,Trade Show Coverage | No Comments
Construction and agricultural equipment manufacturer JCB, on April 17, posted its record financial results for 2011.
Turnover last year rose to the highest level in the company’s 66-year history at £2.75 billion ($4.39 billion), 37 percent greater than the £2 billion ($3.19 billion) achieved in 2010 and more than double the £1.35 billion ($2.15 billion) sales recorded in 2009. Earnings before interest, tax, depreciation, and amortization (EBITDA) reached a record £355 million ($566 million), and machine sales rose to 69,100 units (2010: 51,600).
“This record financial performance has been delivered on the back of very strong growth in both traditional markets and the emerging economies,” said JCB Chairman Sir Anthony Bamford in a press release. “While we are mindful of the continuing economic and political uncertainties in some parts of the world, JCB’s ongoing investment in its 22 global factories, coupled with the biggest product launch program in our history, means we are well placed to seize new opportunities for growth and deliver another strong performance in 2012.
“We are investing heavily in manufacturing facilities in the UK and overseas, and, later this year, a new 350,000-square-foot factory will start producing backhoe loaders and excavators in Sao Paulo, Brazil,” he continued in the press release. “Substantial investment in research and development continues to keep JCB at the forefront of construction equipment technology, including engine development programs to further improve fuel efficiency and meet legislative requirements.”
In 2011, JCB retained its position as the world’s number one manufacturer of backhoe loaders and telescopic handlers. In 2012, JCB will unveil a total of 66 innovative new products for global markets, many of which were unveiled for the first time on April 17 at the Intermat construction equipment fair in Paris.
JCB is the world’s third largest manufacturer of construction equipment with 22 plants on four continents in addition to 16 strategically located parts centers designed to support customers around the world. The company employs more than 10,000 people worldwide and has 770 dealers with 2,000 dealer locations.
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