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JCB delivers robust results in shrinking global market

JCB delivers robust results in shrinking global market

JCB delivers robust results in shrinking global market

JCB defied challenging market conditions by growing earnings by more than 34% in 2016.

Announcing its annual results for last year, the Staffordshire-based machinery maker revealed that earnings for 2016 on an EBITDA basis were £287 million (2015: £214 million). Sales turnover rose by nearly 12% to £2.62 billion (2015: £2.34 billion), while machine sales increased to 66,011 (2015: 59,844).

The revolutionary JCB Hydradig at work in London.
The revolutionary JCB Hydradig at work in London.

This robust performance was achieved despite a contraction in the global construction equipment market of 1% in 2016.

JCB CEO Graeme Macdonald said: “JCB’s strong performance in 2016 was against some economic headwinds which saw the global construction equipment market shrink. Some markets grew, such as India which rose by almost 40%, while others fell, including Brazil which was down by more than 40%. The UK market contracted by 5% in 2016 but the good news is that, after a difficult few years, European markets grew strongly and were up by more than 10% last year.”

The 13 tonne JS131 tracked excavator (made in Uttoxeter, Staffordshire)
The 13 tonne JS131 tracked excavator (made in Uttoxeter, Staffordshire)

JCB Chairman Lord Bamford said: “While we face challenges in some parts of the world, the global construction market so far in 2017 is buoyant and is expected to grow further during the remainder of this year. We continue to launch innovative new products and enter new sectors which will enable JCB to secure strong levels of growth in the future.

“The UK market has got off to a particularly buoyant start this year, with housebuilding driving demand for compact and mid-range equipment, particularly telescopic handlers. In addition, there are some key infrastructure projects such as HS2 and Hinkley Point and Thames Tideway which are in the early stages of implementation, so customers are currently evaluating their fleet and machinery needs. Road improvements and widening schemes across the UK are also leading to increased demand for equipment.”

JCB has launched this new telescopic handler this year, a machine which can reach to a height of 18 metres. New JCB products like this are helping meet the needs of a buoyant UK market, where housebuilding is driving demand for equipment, particularly telescopic handlers.
JCB has launched this new telescopic handler this year, a machine which can reach to a height of 18 metres. New JCB products like this are helping meet the needs of a buoyant UK market, where housebuilding is driving demand for equipment, particularly telescopic handlers.
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Post source : J. C. Bamford Excavators Ltd

About The Author

Anthony has worked in the construction industry for many years and looks forward to bringing you news and stories on the highways industry from all over the world.

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