The Staffordshire-based construction and agricultural machinery maker revealed that its sales turnover in 2017 rose by almost 28% to £3.35 billion (2016: £2.62 billion), while machine sales increased to 75,693 (2016: 66,011). Earnings on an EBITDA basis rose by almost 19% to £341 million (2016: £287 million). Since 1975, JCB’s average return on investment has been over 30%.The market rebound has continued strongly in 2018 which has pushed JCB global production levels to a record level of 500 machines per day.
JCB CEO 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.”
JCB Chairman Lord Bamford said: