Description
ABB Group CEO Spiesshofer said: “In the second quarter, ABB’s four major divisions and three major regions all achieved order growth. By continuing to improve production efficiency, we promoted profit growth and achieved two double-digit gains in operating earnings per share. digit growth. At the same time, we completed the acquisition of GE Industrial Systems within the promised deadline and began to advance the integration pace at full speed with our new colleagues.”
— Order volume increased by 8%, with all business units and regions achieving growth
— Basic orders increased by 9%, with all business units and regions achieving growth
— Sales revenue increased by 1%
— The order-to-bill ratio is 1.07, and all business units exceed 1.
— Operating EBITDA margin increased 60 basis points to 13%
— Net profit of $572 million, up after excluding gains from the 2017 divestiture of the cable business
— Cash flow from operations is -USD 518 million, and cash flow is expected to be sufficient throughout the year
He further said: “ABB’s four major business divisions are striving to move towards the world’s top efficiency level through self-discipline and unremitting execution. These results also show that the company transformation we have promoted in the past few years has paid off.”
key data
short term outlook
Macroeconomic indicators in Europe and the United States are trending upward, and the Chinese market is also expected to continue to grow. Overall, global markets maintain growth, but uncertainty remains high in parts of the world. Changes in oil prices and exchange rates will continue to have an impact on the company’s performance.
Group results for the second quarter of 2018
Order amount
This quarter’s order volume increased by 8% year-on-year (14% in US dollars), and the four major business divisions and three major regions achieved overall growth. Base orders (orders under US$15 million) increased by 9% (14% in US dollars), with growth across all divisions and regions. Large orders accounted for 7% of total orders, compared with 8% in the same period in 2017. The rich range of ABB Ability™ digital solutions contributed significantly to the growth of orders in this quarter.
The order-to-bill ratio increased to 1.07 at the end of the second quarter, compared with 0.99 in the same period last year.
Under the pressure of higher growth in the same period last year, the service business’ order volume increased by 2% in this quarter (an increase of 5% in US dollars), and the order volume accounted for 19% of the company’s total orders, compared with 20% in the same period last year.
ABB further enriched its business portfolio through the acquisition of B&R, driving a 3% net increase in orders. The year-on-year increase in the U.S. dollar exchange rate brought a 3% increase in order volume.
market Overview
Market demand in ABB’s three major regions showed strong performance this quarter:
Total orders in the European market increased by 10% year-on-year (up 22% in US dollars), with increases in Germany, Italy, the United Kingdom, Norway, Spain and France greater than the decreases in orders from Sweden, Finland and Switzerland. Underlying orders in the region increased by 12% (up 24% in US dollar terms), with Italy and the UK contributing prominently.
Total orders in the Americas market increased by 7% (up 7% in US dollars). Among them, orders from the United States, Canada and Mexico increased. Underlying orders increased 7% (up 7% in U.S. dollars). On a comparable basis, U.S. order volume increased by 6% (increased by 7% in US dollar terms), and underlying orders increased by 7% (increased by 8% in US dollar terms).
Total orders in Asia, the Middle East and Africa increased by 7% (11% in US dollar terms), with strong demand for orders from China, India and the United Arab Emirates. Underlying orders grew 7% (+12% in US dollar terms), with increases in China, India and Australia outweighing declines in orders from South Korea and South Africa. China’s order volume increased by 20% (up 29% in US dollars), and underlying orders increased by 23% (up 32% in US dollars).
The demand growth trends in ABB’s main customer market areas are as follows:
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