Contact
QR code for the current URL

Press release Box-ID: 591054

ABB Schweiz AG Brown Boveri Strasse 6 5401 Baden, Switzerland http://www.abb.ch/
Contact Mr Thomas Schmidt +41 43 317 65 68
Company logo of ABB Schweiz AG
ABB Schweiz AG

ABB Q1: Revenue growth, improved profitability

(PresseBox) (Zurich, Switzerland, )

Improved portfolio and geographic balance generates solid results in a mixed market
Revenues steady to higher in all divisions[1]; Thomas & Betts on track
Operational EBITDA[2] and margin higher, continued solid execution on cost savings


ABB today reported its first-quarter 2013 results, highlighting revenue growth and improved operational profitability2 despite a weak business environment.

"Given the continued uncertainties in the global economy, this is a satisfactory start to 2013," said ABB Chief Executive Officer Joe Hogan. "We continued to execute well, successfully balancing solid cost discipline with targeted growth in businesses and regions where we have competitive advantages, especially in areas like industrial efficiency, power reliability and renewable energy.

"Our balanced portfolio and global footprint contributed to the resilient performance, allowing us to find and capture growth opportunities in a mixed market. For example, we won some key orders in marine, mining, and robotics, and increased emerging market orders by 10 percent. We lifted total revenues on both an organic and inorganic basis.

"Our execution on cost remained strong, with tight discipline on G&A expenses," Hogan said. "Continued success in sourcing and productivity improvements saved us about $260 million.

"The Thomas and Betts integration and synergies are on track. We're very pleased with this acquisition and the improved balance it gives us in the North American market.

"The Power Products team turned in another good performance, with an operational EBITDA margin of 14.9 percent, again within our guidance of 14.5 to 15.0 percent range for the full year, thanks to solid execution on cost and selective growth initiatives in more profitable end markets.

"We achieved these results despite continued demand headwinds," Hogan said. "Growth in the US decelerated further in the quarter and industrial investments in much of Europe remained mixed. Cash flow was lower than we'd like, but it was largely expected and mainly reflects the timing of project execution, so we expect to see that recover over the coming quarters.

"For the rest of the year, we'll continue to focus on the cost-growth balance. Macroeconomic indicators remain unclear, which makes it tough to predict how the early-cycle businesses will perform. However, our strong order backlog will help mitigate some of that uncertainty, and we're confident that our better balance across businesses and regions will continue to provide us with profitable growth opportunities."

For the complete press release including the appendices please go to http://www.abb.com/news
The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.
Important note:

Systematic data storage as well as the use of even parts of this database are only permitted with the written consent of unn | UNITED NEWS NETWORK GmbH.

unn | UNITED NEWS NETWORK GmbH 2002–2022, All rights reserved

The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.