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Q4 and full-year 2020 results

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Solid end to challenging year

FOURTH QUARTER 2020 HIGHLIGHTS

  • Orders $7.0 billion, +2%; comparable -1%[1]
  • Revenues $7.2 billion, +2%; comparable 0%
  • Income from operations $578 million; margin 8.0%
  • Operational EBITA1 $825 million; margin1 11.5%, including a combined impact of 80 basis points from the full and final Kusile settlement with Eskom in South Africa and non-core business charges
  • Basic EPS -$0.04; operational EPS1 $0.26, -6%
  • Cash flow from operating activities $1,182 million; cash flow from continuing operating activities $1,225 million after negative impacts, combined, of ~$200 million for the Kusile settlement and pension plan transfers

FULL-YEAR 2020 HIGHLIGHTS

  • Orders $26.5 billion, -7%; comparable -6%1
  • Revenues $26.1 billion, -7%; comparable -5%
  • Income from operations $1,593 million; margin 6.1%
  • Operational EBITA1 $2,899 million; margin1 11.1%, including a combined impact of 90 basis points impact from the full and final Kusile settlement and non-core business charges, and 15 basis points impact from stranded costs
  • Basic EPS $2.44, +261%[2] including gain from Power Grids sale; operational EPS1 $0.98, -21%
  • Cash flow from operating activities $1,693 million; cash flow from continuing operating activities $1,875 million after approximately $1 billion outflows, in total, for pension plan transfers, Power Grids carve-out and ABB-OS and other restructuring and project related items. Adjusted to exclude the above outflows, cash flow from continuing operating activities improved by close to $550 million year-on-year
  • CHF 0.80 dividend per share proposed

[1] For a reconciliation of non-GAAP measures, see “supplemental reconciliations and definitions” in the attached Q4 2020 Financial Information.

[2] EPS growth rates are computed using unrounded amounts. Comparable operational earnings per share is in constant currency (2019 exchange rates not adjusted for changes in the business portfolio)

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ABB Ltd
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8050 Zurich
Switzerland

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