Q3 2019 results
Zurich, Switzerland, October 23, 2019 - Holding course in tougher markets
- Total orders -1%1, order backlog +3%
- Steady revenues and book-to-bill2
- Operational EBITA margin2 11.7%, +20 basis points; impacted 70 basis points by stranded costs
- Income from continuing operations, net of tax $422 million, -1%
- Net income $515 million, -15%
- Operational EPS2 $0.33, -7%3
- Cash flow from operating activities $670 million, +19%, solid cash delivery expected for the full year
- Björn Rosengren appointed Chief Executive Officer, effective March 1, 2020
“The Group delivered a robust performance for the quarter in the face of weaker macroeconomic conditions impacting some of our customer markets, above all robotics and automation,” said Peter Voser, Chairman and CEO of ABB.
He added: “We are holding course and pursuing long-term growth, staying firmly focused on managing costs in response to softer demand while progressing our transformation agenda. We continue to drive the strategy forward while instilling a culture of empowerment and high performance.”
The complete press release including the appendices is available at www.abb.com/news
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1 Growth rates for orders, order backlog and revenues are on a comparable basis (local currency adjusted for acquisitions and divestitures).
2 For a reconciliation of non-GAAP measures, see “supplemental reconciliations and definitions” in the Q3 2019 Financial Information.
3 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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