Description
In the second quarter, market demand in the power sector showed a complex trend. Businesses related to the integration of renewable energy and investment in improving grid reliability, especially those related to digitalization, continued to grow.
Large-scale investment in power grid fields such as long-distance transmission continues to be sluggish.
Based on the broad-spectrum coverage of the customer base, industrial demand is growing well this quarter. Investments from process industries such as oil and gas and mining continue to grow, and capital expenditures are mainly focused on
automation upgrades of existing projects. Continued focus on specific industries such as food and beverage and automotive has driven order growth in businesses such as ABB”s automation and robotic solutions.
Market demand in the transportation and infrastructure sectors has grown steadily, with outstanding orders in rail transit electrification, the construction industry and special ships. Business highlights for the quarter also included continued strong
growth in the data center and electric vehicle fast charging solutions businesses.
Sales revenue
In the second quarter, sales revenue increased by 1% year-on-year (up 5% in US dollars), and the Robotics and Motion Control Division and the Electrical Products Division maintained steady growth. Affected by the decline in order reserves at the
beginning of the year, the sales revenue of the Industrial Automation Division was flat year-on-year, while the sales revenue of the Power Grid Division declined.
Thanks to the leading ABB AbilityTM digital solution, service business sales revenue increased by 13% (16% in US dollars), accounting for 19% of total sales revenue from 17% in the same period last year.
Changes in exchange rates contributed to a 2% increase in sales revenue, and changes in business mix contributed to a 2% net increase in sales revenue.
“New Stage” Strategy
Since ABB implemented its “New Phase” strategy in 2014, it has focused on three major areas: profitable growth, comprehensive execution with no effort, and business-led cross-department cooperation. In the past few years, ABB has successfully
built four business divisions that are market-oriented and entrepreneurial; achieved major breakthroughs in the digital field through ABB Ability™; accelerated operational excellence; and strengthened ABB”s brand image.
ABB”s business units continue to drive profitable growth in key markets, leveraging new and existing ABB Ability™ end-to-end digital solutions to achieve a closed loop of connected devices based on the intelligent cloud. Each business unit continues to
focus on unremitting execution, maintain the current growth momentum, expand investment to promote growth, and closely link compensation with operating performance.
Now, with a leaner and stronger business portfolio, ABB will better seize market opportunities in more favorable market conditions. ABB”s technology comprehensively covers the power and industrial automation value chain and is used in various scenarios
from the power generation end to the power consumption end, from natural resource extraction to the completion of finished products.
Earnings growth
As part of its drive to drive profitable growth, ABB continues to expand its ABB Ability™ digital solutions, which now number more than 210, to meet the needs of customers in the power, industry, transportation and infrastructure sectors.
This quarter, ABB won an order from Danish green energy company Orsted to integrate offshore wind power into the British power grid. As part of the order, ABB will provide it with leading ABB Ability™ digital solutions to ensure the reliability
and operating efficiency of the power grid. In addition, ABB has reached cooperation with Yitai Group, a Chinese coal chemical enterprise. As the first order in a series of digital projects between the two parties, ABB will provide Yita with end-to-end ABB Ability™
digital solutions to significantly improve the production efficiency of its new factory.
Excitation system ABB module HIEE401091R0002 GD9924BE
Excitation system ABB module HIEE400995R0002 UMB015BE02
Excitation system ABB module HIEE400787R1 HI906056-855/22
Excitation system ABB module HIEE400787R1
Excitation system ABB module HIEE400643R1
Excitation system ABB module HIEE400316R1 HIEE410016P1 UDA327AE02
Excitation system ABB module HIEE400106R1 CSA464AE
Excitation system ABB module HIEE400103R1 CSA463AE
Excitation system ABB module HIEE4000109R0001 HIEE400109R1 CSA465AE
Excitation system ABB module HIEE322077
Excitation system ABB module HIEE320639R1 LT8978BV1
Excitation system ABB module HIEE320639R0001
Excitation system ABB module HIEE305120R0002
Excitation system ABB module HIEE305120R0002
Excitation system ABB module HIEE305111R0001
Excitation system ABB module HIEE305098R0001 UNS0007A-P,V1
Excitation system ABB module HIEE305089R1 UNC4674BV1
Excitation system ABB module HIEE305089R1
Excitation system ABB module HIEE305082R0001 UNS0863A-PV1
Excitation system ABB module HIEE305082R0001 UNS0863A-P,V1
Excitation system ABB module HIEE305082R0001 UNS0863A-P
Excitation system ABB module HIEE305082R0001 UNS0862
Excitation system ABB module HIEE305082R0001
Excitation system ABB module HIEE305069R1 UNC4674AV
Excitation system ABB module HIEE305060R1
Excitation system ABB module HIEE300936R0101 UFC718AE101
Excitation system ABB module HIEE300936R0101 UFC718AE01
Excitation system ABB module HIEE300936R0101
Excitation system ABB module HIEE300936R0101
Excitation system ABB module HIEE300927R0101
Excitation system ABB module HIEE300910R1 UFC092BE01
Excitation system ABB module HIEE300910R1
Excitation system ABB module HIEE300910R0001
Excitation system ABB module HIEE300910R0001
Excitation system ABB module HIEE300900R0001 PPC322BE
Excitation system ABB module HIEE300900R0001
Excitation system ABB module HIEE300900R0001
Excitation system ABB module HIEE300900R0001
Excitation system ABB module HIEE300890R0001 UAC383AE01
Excitation system ABB module HIEE300888R0002 UAC389AE02
Excitation system ABB module HIEE300888R0002 UAC389AE02
Excitation system ABB module HIEE300888R0002 UAC389AE02
Excitation system ABB module HIEE300888R0002
Excitation system ABB module HIEE300885R1 PPC380AE01
Excitation system ABB module HIEE300885R0101
Excitation system ABB module HIEE300766R0001
Excitation system ABB module HIEE300766R0001
Excitation system ABB module HIEE300744R1 UAC318AE
Excitation system ABB module HIEE300725R1 UAC317AEV1
Excitation system ABB module HIEE300715R0002
Excitation system ABB module HIEE300698R1 KUC321AE
Excitation system ABB module HIEE300698R0001
Excitation system ABB module HIEE300698R0001
Excitation system ABB module HIEE300697R1 PPC322AEV01 HIEE401447R1
Excitation system ABB module HIEE300690R1 ARC093AV1
Excitation system ABB module HIEE300690R0001
Excitation system ABB module HIEE300661R1 UPC090AE01
Excitation system ABB module HIEE300661R1
Excitation system ABB module HIEE300661R0001 UPC090AE01
Excitation system ABB module HIEE300661R0001
Excitation system ABB module HIEE300043R1 N7-10340-9/77
Excitation system ABB module HIEE300037R1
Excitation system ABB module HIEE300024R4 UAA326A04
Excitation system ABB module HIEE300024R4
Excitation system ABB module HIEE300024R2 UAA326A02
Excitation system ABB module HIEE220620R1 HI905030-322/9
Excitation system ABB module HIEE220295R1 N7-10310-7/6
Excitation system ABB module HIEE220295R0001 NU8976A
Excitation system ABB module HIEE205019R0001 UNS2980C-Z,V1
Excitation system ABB module HIEE205014R1 UNC4673AV1
Reviews
There are no reviews yet.