JCB recorded growth of 12% in the Middle East in 2012, with the UK-based manufacturer announcing the highest annual earnings in the company’s history, $566.8 million (£365m) on an EBITDA basis.
JCB sales in Africa doubled last year, while sales in the Americas grew 20%. Overall, the company’s revenue of $4.2bn was virtually the same as in 2011, while the number of machines retailed rose fractionally, to 69,250, an increase of 150 units on the previous year. Globally, sales of machinery decline 10%, meaning that JCB managed to outperform the market, said its chairman, Sir Anthony Bamford.
“In view of the continued fragility of the global economy, which has led to renewed slowdowns in emerging and developed markets, JCB’s results in 2012 are extremely encouraging,” he said.
“They not only demonstrate the resilience of our business, but highlight the importance of continued investment in products, facilities and customer service.”
According to Bamford, JCB retained its position as the number one construction equipment manufacturer in the UK, Europe and in India and it remains the number one manufacturer of backhoe loaders and telescopic handlers.
“While construction equipment markets in many parts of the world remained weak, that has been more than offset by strong growth for our agricultural products, particularly in materials handling,” he said.
“Despite continued uncertainty, particularly in European economies, 2013 has started satisfactorily. We are expecting some growth this year but how much will depend on the pace of the global recovery.”
Â
