ABB: Continuing Growth

ZURICH--(BUSINESS WIRE)--THIRD QUARTER HIGHLIGHTS

• Total orders up 5%1; base orders up 6%; higher in all regions
• Services and software orders up 11%; ABB AbilityTMdriving momentum
• Revenues up 3%
• Operational EBITA margin2 up to 12.9%
• Net income $571 million; operational EPS +7%3
• Cash flow from operating activities $954 million
• Net working capital as a percentage of revenues stable, impacted by B&R acquisition and HV cables divestiture
• B&R acquisition closed July 6; integration on track
• Leadership position in electrification to be strengthened by GE Industrial Solutions acquisition

“We continue to build growth momentum across all regions, with total orders growing 5 percent and revenues up 3 percent in Q3, while continuing with the business model transformation in Power Grids,” said ABB CEO Ulrich Spiesshofer. “The combination of a stronger market orientation and a focus on high-growth segments, such as electric vehicle charging, robotics and food and beverage, is paying off.”

“The Electrification Products and Robotics and Motion divisions improved margins sequentially, and Industrial Automation and Power Grids delivered solid operational performance in the quarter,” he said. “The integration of B&R is progressing well and, with the recently announced acquisition of GE Industrial Solutions, we are firming up our number 2 position globally in electrification and have a clear plan to execute our value creation ambition.”

“Going forward, we will maintain our primary focus on profitable organic growth. We will continue to do our homework and take the appropriate actions to successfully complete our transition year of 2017,” he added. “We are further de-risking our portfolio and continuing to shift our center of gravity to higher growth segments and enhanced competitiveness.”