ABB: Building growth momentum
Zurich, Switzerland, July 20, 2017
- Total and base orders grew 3%; higher orders in all regions
- Revenues up 1%
- Operational EBITA margin 12.4%, dampened this quarter by commodity prices and some overcapacity
- Net income $525 million
- Cash flow from operating activities $467 million reflects timing of short-term incentive payments
- Net working capital as a percentage of revenues 14.1%, reduced 90 bps on an annual basis
- Active portfolio management: B&R acquisition closed July 6, KEYMILE’s communication business to be acquired Q3
“In Q2, ABB continued to build its growth momentum as our targeted initiatives are delivering. Order growth was broad-based and across all regions,” said ABB CEO Ulrich Spiesshofer. “Our industry-leading digital offering, ABB Ability, is taking off and starting to contribute to growth.”
“Operational performance in the Power Grids and Industrial Automation divisions was solid in the quarter. Electrification Products and Robotics and Motion improved margins sequentially, but were not able to fully compensate commodity price headwinds and overcapacity during the quarter,” he said. “While we are pleased with the growth momentum, especially the double-digit order growth in Robotics and Motion, we remain firmly focused on further improving operational execution and our cost base.”
“The successful completion of the B&R acquisition and the handover of our last legacy off-shore wind project, Dolwin 2, are solid examples of the disciplined execution of our Next Level strategy.”
The complete press release including the appendices is available at www.abb.com/news
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