JCB ‘Ramping Up’ Production Levels
UK-based JCB remained profitable in 2020 despite the severe impact of the Covid-19 pandemic on its global manufacturing operations, and the company is increasing production to levels not seen before to try and meet up with demand. The OEM revealed
UK-based JCB remained profitable in 2020 despite the severe impact of the Covid-19 pandemic on its global manufacturing operations, and the company is increasing production to levels not seen before to try and meet up with demand.
The OEM revealed that last year sales turnover fell to £3.1 billion (US$4.2 billion) from 2019’s £4.2 billion (US$5.6 billion) and machine sales decreased to 74,590 from 92,216 in 2019.
Earnings on an EBITDA basis stood at £228 million (US$308 million), down from last year’s £414 million (US$559 million).
“In March 2020, £1 billion worth of orders disappeared overnight with the onset of Covid-19 and JCB was forced to close its 21 manufacturing plants around the world for around two months. Despite the severe impact on its business, JCB remained profitable in 2020 as it has done for the past 76 years,” said JCB CEO Graeme Macdonald.
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