JBT Corporation revenues increased by 17.4% in 2018 to USD1.9 billion, driven by strong performances in both its business segments: AeroTech and FoodTech.
Operating profits in ground support equipment (GSE) and gate equipment specialist AeroTech grew by 11%, contributing to a 22.9% group-wide increase in 2018.
Revenue in the AeroTech segment rose by 20.5% to USD558.1 million and inbound orders grew by 24% to USD597.2 million. AeroTech’s order backlog increased from USD254 million at the end of 2017 to USD305.9 million by 31 December 2018.
JBT Corporation expects continued growth for AeroTech in 2019 with an anticipated operating margin of 12.5–13%, due not only to organic growth but also to the pending acquisition of electric GSE manufacturer LEKTRO Inc.
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihs.com/contact