22.07.2016

JCB slips 7%

JCB has issued a few details of its results for 2015, it shows that revenues fell a further seven percent to £2.34 billion, following a six percent drop last year. Unit shipments were also substantially lower.

JCB is a private company and has yet to file its latest results, its statement only refers to Earnings Before Interest, Depreciation and Ammortisation, which were £204 million, compared to £283 million in 2014, a fall of 28 percent. Pre-tax profits in 2014 were £202 million.

Chief executive Graeme Macdonald said: “JCB’s trading performance during 2015 was resilient in the face of a further deterioration in market conditions around the world, particularly in the economies of Brazil, Russia and China. The global market is still uncertain and fragile during this year.”

Vertikal Comment

JCB has been on a steady downward trajectory for some time, in 2015 the market in India, where it is is market leader for several product types, performed well, but not well enough to offset slower revenues elsewhere. The company is not as strong in Western Europe, where improving conditions have helped some of its competitors during the same period.