Full-year and Q4 2019 results
Zurich, Switzerland, February 5, 2020 - Transformation on track
FULL-YEAR 2019 HIGHLIGHTS
- Orders $28.6 billion, steady; comparable +1%
- Revenues $28.0 billion, +1%; comparable +1%
- Operational EBITA margin1 11.1%, impacted by a combined 130 basis points due to stranded costs and non-core activities
- Income from operations $1,938 million, -13%
- Net income $1,439 million, -34%
- Basic EPS $0.67, -34%2; Operational EPS1 $1.24, -7%
- Cash flow from operating activities $2,325 million, -20%, incl. cash outflows for simplification program and Power Grids carve-out
- CHF 0.80 per share dividend proposed
FOURTH QUARTER 2019 HIGHLIGHTS
- Orders $6.9 billion, -1%; comparable +1%
- Revenues $7.1 billion, -4%; comparable -2%
- Operational EBITA margin 10.1%, impacted by a combined 170 basis points due to stranded costs and non-core activities
- Income from operations $648 million, +136%
- Cash flow from operating activities $1,911 million, +2%, incl. cash outflows for simplification program and Power Grids carve-out
NEW LEADERSHIP
- Bjӧrn Rosengren appointed CEO, effective March 1, 2020
“ABB gave a resilient performance in 2019 in the face of challenging market conditions and a significant transformation. Our revenues and operating margin both improved slightly. The divestment of Power Grids is on track and we are clearly starting to see the positive effects of implementing our new operating model and new culture,” said Peter Voser, Chairman and CEO of ABB.
“In line with our dividend policy we are proposing a dividend of 0.80 CHF per share. We are committed to providing attractive returns to shareholders, further enhanced by the commencement of share buybacks using the net cash proceeds from the Power Grids transaction later this year.”
The complete press release including the appendices is available at www.abb.com/news
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1 For a reconciliation of non-GAAP measures, see “supplemental reconciliations and definitions” in the attached Q4 2019 Financial Information.
2 EPS growth rates are computed using unrounded amounts. Comparable operational earnings per share is in constant currency (2014 exchange rates not adjusted for changes in the business portfolio).
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ABB Ltd
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For further information, please refer to www.abb.com/news