Thursday, February 28, 2019

ABB: Solid Growth



ZURICH-Thursday 28 February 2019 [ AETOS Wire ]

(BUSINESS WIRE) -- FULL YEAR 2018 HIGHLIGHTS

    Total orders +8%1, up in all divisions and regions
    Revenues +4%, strong growth in Robotics and Motion
    Order backlog +6% at end of year, book-to-bill ratio2 at 1.03x
    ABB Ability™ drives growth across all divisions
    Operational EBITA margin 10.9%2, impacted by a combined 250 basis points due to stranded costs, charges for legacy non-core projects and GEIS dilution
    Reported net income at $2,173 million, -2%
    Cash flow from operating activities at approx. $3 billion
    New ABB announced
        Focus of portfolio on digital industries through divestment of Power Grids
        Simplification of business model and structure
        Shape four leading businesses aligned with customer patterns
    Acquisition of GEIS completed on June 30, 2018
    CHF 0.80 per share dividend proposed

FOURTH QUARTER HIGHLIGHTS

    Total orders +7%, higher in all divisions and regions
    Revenues +5%
    Operational EBITA margin 7.9%, impacted by a combined 400 basis points due to stranded costs, legacy non-core charges and GEIS dilution
    Solid cash flow from operating activities at approx. $1.9 billion
    Sylvia Hill to succeed Jean-Christophe Deslarzes as Chief Human Resources Officer and member of the Executive Committee, effective June 1, 2019

KEY FIGURES
   


   


   


   

CHANGE
   


   


   


   

CHANGE
   


   


   

($ in millions, unless otherwise indicated)
   


   


   


   

Q4 2018
   


   


   


   

Q4 2017 Recast
   


   


   


   

US$
   


   


   


   

Comparable

1
   


   


   


   

FY 2018
   


   


   


   

FY 2017 Recast
   


   


   


   

US$
   


   


   


   

Comparable1
               

Orders
   


   


   


   

6,985
   


   


   


   

6,328
   


   


   


   

+10%
   


   


   


   

+7%
   


   


   


   

28,590
   


   


   


   

25,034
   


   


   


   

+14%
   


   


   


   

+8%
               

Revenues
   


   


   


   

7,395
   


   


   


   

6,804
   


   


   


   

+9%
   


   


   


   

+5%
   


   


   


   

27,662
   


   


   


   

25,196
   


   


   


   

+10%
   


   


   


   

+4%
               

Income from operations
   


   


   


   

275
   


   


   


   

324
   


   


   


   

-15%
   


   


   


   


   


   


   


   

2,226
   


   


   


   

2,230
   


   


   


   

0%
   


   


   


   


               

Operational EBITA2
   


   


   


   

584
   


   


   


   

664
   


   


   


   

-12%
   


   


   


   

-10%3
   


   


   


   

3,005
   


   


   


   

2,817
   


   


   


   

+7%
   


   


   


   

+5%3
               

as % of operational revenues
   


   


   


   

7.9%
   


   


   


   

9.7%
   


   


   


   

-1.8pts
   


   


   


   


   


   


   


   

10.9%
   


   


   


   

11.2%
   


   


   


   

-0.3pts
   


   


   


   


               

Income from continuing operations, net of tax
   


   


   


   

210
   


   


   


   

214
   


   


   


   

-2%
   


   


   


   


   


   


   


   

1,575
   


   


   


   

1,519
   


   


   


   

4%
   


   


   


   


               

Net income attributable to ABB
   


   


   


   

317
   


   


   


   

393
   


   


   


   

-19%
   


   


   


   


   


   


   


   

2,173
   


   


   


   

2,213
   


   


   


   

-2%
   


   


   


   


               

Basic EPS ($)
   


   


   


   

0.15
   


   


   


   

0.18
   


   


   


   

-19%4
   


   


   


   


   


   


   


   

1.02
   


   


   


   

1.04
   


   


   


   

-2%4
   


   


   


   


               

Operational EPS ($)2
   


   


   


   

0.30
   


   


   


   

0.33
   


   


   


   

-9%4
   


   


   


   

-6%4
   


   


   


   

1.33
   


   


   


   

1.25
   


   


   


   

+7%4
   


   


   


   

+8%4
               

Cash flow from operating activities
   


   


   


   

1,867
   


   


   


   

1,869
   


   


   


   

0%
   


   


   


   


   


   


   


   

2,924
   


   


   


   

3,799
   


   


   


   

-23%
   


   


   


   


               

On December 17, 2018, ABB announced an agreed sale of its Power Grids division. Consequently, the results of the Power Grids business are presented as discontinued operations. The company’s results for all periods have been adjusted accordingly.

“In 2018, we brought the company back to growth and delivered solid order and revenue growth. We drove topline momentum with our leading Robotics and Motion offering and played a strong role in the ongoing recovery of process industries with our industrial automation business and ABB Ability™ digital solutions. We will continue to drive the operational improvements in Electrification Products and our company overall”, said ABB CEO Ulrich Spiesshofer.

“At the end of 2018, we set the course for a new ABB as a pioneering technology leader in digital industries. We announced three transformational actions to focus our portfolio, simplify and fundamentally reset our business model as well as strengthen the leading business positions of our company. Our confidence in ABB’s future is reflected in the proposed 10th consecutive dividend increase to CHF 0.80.”

Short-term outlook

Macroeconomic signs are mixed in Europe and trending positively in the United States, with growth expected to continue in China. The overall global market is growing, with rising geopolitical uncertainties in various parts of the world. Oil prices and foreign exchange translation effects are expected to continue to influence the company’s results.

Full-year 2018 Group results

ABB delivered strong order and revenue performance in 2018. The group’s digital solutions offering, ABB Ability™, continued to build its leading market position. Total orders were 8 percent higher (14 percent in US dollars) with strong positive contributions from Robotics and Motion and Industrial Automation as well as solid performance from Electrification Products. Total orders exhibited similar growth trends across all regions. Base orders (classified as orders below $15 million) improved 6 percent (14 percent in US dollars) in 2018, rising in all divisions and regions. Large orders increased 45 percent (20 percent in US dollars), albeit off a low comparative base, and represented 7 percent of total orders, compared to 6 percent in the prior year. Service orders were 7 percent higher (12 percent in US dollars) and now stand at 19 percent of total orders.

Revenues improved 4 percent (10 percent in US dollars) to $27,662 million. Revenues grew across all divisions, with strong performance from Robotics and Motion and robust contributions from Electrification Products and Industrial Automation. Service revenues were up 7 percent (11 percent in US dollars) to 19 percent of group revenues. The book-to-bill ratio stood at 1.03x in 2018 compared with 0.99x in the previous year.

ABB continued to shift its center of gravity, de-risking the portfolio and improving organic growth prospects. The exit from EPC (Engineering, Procurement and Construction) activities progressed as ABB transferred its turnkey AC Substation business to Linxon, a new joint-venture with SNC Lavalin. ABB continues to unwind the remaining legacy EPC contracts, which impacted results reported through the period for the non-core business unit in Corporate and other. ABB strengthened the competitiveness of its Electrification Products division through the acquisition of GE Industrial Solutions (“GEIS”) on June 30, 2018. Integration efforts are well underway. GEIS’ performance in the second half of 2018 has been in line with managements expectations.

ABB announced fundamental actions to focus, simplify and lead in digital industries on December 17, 2018. The group’s actions included the divestment of the Power Grids business. As a consequence of the announced sale, the results of the Power Grids business are now presented as discontinued operations and the group has reflected stranded costs in its operational EBITA result for both the 2017 and 2018 periods, in line with the guidance provided as part of the announcement on December 17, 2018. Stranded costs are services provided by the group to Power Grids that do not qualify to be reported as discontinued operations. These services include real estate, IT, and other shared corporate services. The company expects the vast majority of these costs to either be transferred to Power Grids or eliminated by the closing of the transaction, which is anticipated in the first half of 2020.

The company’s operational EBITA in 2018 reached $3,005 million, an increase of 7 percent in US dollars (5 percent in local currencies), including stranded costs of $297 million. The operational EBITA margin was 10.9%, including 110 basis points related to stranded costs as well as an 100 basis point charge related to legacy non-core business activities, and 40 basis points dilution from GEIS.

Net income attributable to ABB of $2,173 million was 2 percent lower compared to 2017. Basic EPS was 2 percent lower at $1.02. Operational EPS2 was $1.33, up 8 percent in constant currency2.

Cash flow from operating activities5 of $2,924 million for the full year was 23 percent lower year on year. This is mainly due to lower cash from discontinued operations as well as less favorable timing of tax payments. Net working capital of $2,584 million stood at 9 percent of revenues at the end of 2018, compared to 10 percent at the end of the prior year period. Capital expenditures for the group were $772 million during the year, at the same level as in 2017. Adjusted free cash flow2 of $2,024 million was 31 percent below the prior year.

Dividend

ABB’s board has proposed an ordinary dividend of 0.80 Swiss francs per share for 2018, subject to shareholder approval at the company’s annual general meeting on May 2, 2019. The proposal is in line with ABB’s dividend policy to pay a rising, sustainable dividend over time. The ex-dividend and payout dates in Switzerland are expected to be in May 2019. Further information will be available on ABB’s website.

Q4 2018 Group results

Orders

Total orders rose 7 percent (10 percent in US dollars), up in all divisions and regions compared to a year ago. Base orders increased 5 percent (11 percent in US dollars), higher in all divisions during the quarter. Large orders represented 5 percent of total orders, steady compared to the prior year period. The order backlog rose 6 percent (5 percent in US dollars) compared to a year ago, improving in all divisions, to end the year at $13.1 billion.

Service orders were up 5 percent (7 percent in US dollars). Service orders represent 20 percent of total orders, compared to 21 percent in the prior year period.

Changes in the business portfolio, including the acquisition of GEIS resulted in a net positive impact of 8 percent on total reported orders. Foreign exchange translation effects had a 5 percent negative impact on reported orders.

Market overview

ABB saw positive order trends across its three regions in the quarter:

    Total orders from Europe rose 4 percent (5 percent in US dollars), with positive contributions from Italy, Sweden, the Netherlands and France outpacing lower contributions from Germany, Norway and Spain. Base orders rose 2 percent (2 percent in US dollars).
    Total orders from the Americas increased 11 percent (32 percent in US dollars). Orders from the United States rose 8 percent (38 percent in US dollars) and also improved in Mexico and Brazil. Base orders from the Americas increased 13 percent (37 percent in US dollars).
    In Asia, Middle East and Africa (AMEA), total orders grew 7 percent (steady in US dollars), supported by growth in China, India and Japan. In China, demand was softer in select end-markets, but remained positive, with total orders rising 6 percent (6 percent in US dollars). Base orders for AMEA were steady (1 percent lower in US dollars).

Demand was supportive across the majority of ABB’s key customer segments:

    ABB saw healthy demand from process industries, including oil and gas, mining, and pulp and paper, with customers continuing to invest in automation and digital solutions.
    Demand across discrete industries remained solid, including continued growth from the food & beverage sector. Demand was strong in the automotive market, with customers seeking robotics solutions for both ICE and EV assembly lines, more than offsetting softer investments from customers in the consumer electronics sector.
    Transport and infrastructure demand was healthy. Demand from construction and buildings related customers was robust. Data center growth continued with customer demand focused on combined automation and distribution solutions. ABB saw further activity in cruise ships and from rail customers.

Revenues

Revenues improved 5 percent to $7,395 million (9 percent in US dollars), with strong growth in Robotics and Motion, robust performance from Electrification Products and a steady result from Industrial Automation. Service revenues were up 4 percent (8 percent in US dollars), enhanced by ABB’s leading digital portfolio, ABB Ability™ solutions. Services represented 20 percent of total revenues, steady versus the prior year period.

Business portfolio changes, including the acquisition of GEIS, contributed a net positive of 8 percent to reported revenues. Changes in exchange rates resulted in a negative translation impact on reported revenues of 4 percent.

The book-to-bill ratio stood at 0.94x in the quarter compared with 0.93x in the previous year’s period.

Operational EBITA

Operational EBITA of $584 million in the fourth quarter was 12 percent lower in US dollars (10 percent in local currencies) compared to the prior year period. The operational EBITA margin of 7.9 percent, included $72 million, or a 100-basis point impact from stranded costs. As well, operational EBITA reflects 260 basis points impact from charges for legacy non-core activities, mainly related to substations, and a 40 basis points impact due to the acquisition of GEIS.

Net income, basic and operational earnings per share

Net income was $317 million, 19 percent lower year on year. Basic earnings per share of $0.15 also moved the same amount in percentage terms. Operational earnings per share of $0.30 was 9 percent lower, and 6 percent in constant currency4.

Cash flow from operating activities

The group delivered solid cash flow from operating activities of $1,867 million, steady compared to the similarly strong cash flow delivered in the prior year period. Continued focus on working capital had a positive impact compared to the same period last year, offset by less favorable timing of tax payments and a lower contribution from discontinued operations.

Q4 divisional performance

($ in millions, unless otherwise indicated)
   


   


   


   

Orders
   


   


   


   

CHANGE
   


   


   


   

3rd party base orders
   


   


   


   

CHANGE
   


   


   


   

Revenues
   


   


   


   

CHANGE
   


   


   


   

Op EBITA %
   


   


   


   

CHANGE
   


   


   


   


   


   


   


   


   

US$
   


   


   


   

Compa-

rable

1
   


   


   


   


   


   


   

US$
   


   


   


   

Compa-

rable1
   


   


   


   


   


   


   

US$
   


   


   


   

Compa-

rable1
   


   


   


   


   


   


               

Electrification Products
   


   


   


   

3,139
   


   


   


   

+23%
   


   


   


   

+2%
   


   


   


   

3,032
   


   


   


   

+27%
   


   


   


   

+3%
   


   


   


   

3,320
   


   


   


   

+23%
   


   


   


   

+3%
   


   


   


   

11.7%
   


   


   


   

-3.0pts
               

Industrial Automation
   


   


   


   

1,866
   


   


   


   

+4%
   


   


   


   

+8%
   


   


   


   

1,639
   


   


   


   

+0%
   


   


   


   

+4%
   


   


   


   

1,938
   


   


   


   

-4%
   


   


   


   

+0%
   


   


   


   

12.9%
   


   


   


   

-2.0pts
               

Robotics and Motion
   


   


   


   

2,175
   


   


   


   

+7%
   


   


   


   

+11%
   


   


   


   

1,872
   


   


   


   

+2%
   


   


   


   

+6%
   


   


   


   

2,341
   


   


   


   

+7%
   


   


   


   

+11%
   


   


   


   

15.0%
   


   


   


   

+1.2pts
               

Corporate & Other
   


   


   


   

(195)
   


   


   


   


   


   


   


   


   


   


   


   

11
   


   


   


   


   


   


   


   


   


   


   


   

(204)
   


   


   


   


   


   


   


   


   


   


   


   


   


   


   


   


               

ABB Group
   


   


   


   

6,985
   


   


   


   

+10%
   


   


   


   

+7%
   


   


   


   

6,554
   


   


   


   

+11%
   


   


   


   

+5%
   


   


   


   

7,395
   


   


   


   

+9%
   


   


   


   

+5%
   


   


   


   

7.9%
   


   


   


   

-1.8pts
               

Effective January 1, 2018, management responsibility and oversight of certain remaining engineering, procurement and construction (EPC) business, previously included in the Industrial Automation and Robotics and Motion operating segments and the former Power Grids business, were transferred to a new non-core operating business within Corporate and Other. The Power Grids division was moved from continuing to discontinued operations. All previously reported amounts have been adjusted consistent with these portfolio changes.

Electrification Products

Total orders rose 2 percent (23 percent in US dollars) and third-party base orders increased 3 percent (27 percent in US dollars). Good demand for products was dampened by a lower order volume for systems. Revenues improved 3 percent (23 percent in US dollars), driven by growth in our short-cycle businesses. Operational EBITA margin was 300 basis points lower year-on-year at 11.7 percent. The integration of GEIS diluted margins by 210 basis points, in line with expectations. Excluding GEIS, operating margins were impacted by negative contractual charges amounting to approximately 90 basis points, which outweighed positive mix, cost savings and pricing actions during the quarter.

Industrial Automation

Compared to the prior year period, total orders improved 8 percent (4 percent in US dollars), boosted by selective large order activity, while third-party base orders were up by 4 percent (steady in US dollars). Order activity for cruise ships and in process industries including mining and pulp and paper was strong during the quarter. Revenues were steady (4 percent lower in US dollars). The operational EBITA margin of 12.9 percent reflects change in the business mix as well as a one-time charge due to payment default by a customer that impacted the divisional margin by approximately 80 basis points.

Robotics and Motion

The division saw continued order momentum with total orders up 11 percent (7 percent in US dollars) and third-party base orders up 6 percent (2 percent in US dollars). Order growth was achieved across all regions, supported by large orders from automotive and rail customers and continued demand from process industries. Revenues increased 11 percent (7 percent in US dollars). Operational EBITA margin at 15.0 percent expanded 120 basis points year-on-year, driven by positive volumes and continued cost management.

2018 Highlights

During 2018, ABB recorded strong order momentum across all divisions and regions. The company’s pioneering technology leadership in digital industries advanced, with ABB Ability™ recognized by industry analysts as #1 globally in Distributed Control Systems and Enterprise Asset Management software. ABB Ability™ was launched in 2017 and offers more than 220 digital solutions, which enable enterprises to increase productivity and safety at lower costs. For example, ABB and Helsinki City Transport held at the end of 2018 a groundbreaking trial of a remotely operated passenger ferry, which was retrofitted with ABB’s new dynamic positioning system, ABB Ability™ Marine Pilot Control, and steered from a control center in Helsinki.

ABB continues to invest in its future. During 2018, the group announced a €100 million investment to build a cutting-edge R&D campus in Austria, and a $150 million investment to build a state-of-the-art flexible robotics manufacturing site, also including an Artificial Intelligence center of excellence, in Shanghai, China.

The acquisition of GEIS completed on June 30, 2018, strengthened the competitiveness of Electrification Products, particularly in the attractive North American market. ABB targets $200 million per annum synergies from GEIS by 2022.

On December 17, 2018, ABB announced the agreed sale of its Power Grids business, expanding its existing partnership with Hitachi. Alongside, ABB announced its intention to simplify the business structure and to shape four new leading businesses: Electrification, Industrial Automation, Motion, and Robotics and Discrete Automation. ABB expects a total of $500 million annual run-rate cost reductions across the group over the medium-term. Approximately $500 million of related non-operational restructuring and implementation charges are expected to be taken through 2020. ABB is targeting a medium-term group operational EBITA margin target of 13-16 percent. New margin targets for the four businesses are available today at ABB̕s strategy update (further details can be found under www.abb.com).

Management changes

ABB announced today the appointment of Sylvia Hill (59) as Chief Human Resources Officer and member of the Executive Committee, effective June 1, 2019. She succeeds Jean-Christophe Deslarzes (55), who has decided to step down to pursue a non-executive career. Sylvia Hill joined ABB’s Human Resources (HR) team in 1993 and has held positions of increasing responsibility within the HR function, including Head of HR for the Robotics and Motion division, country HR manager for France and the Czech Republic, and Head of HR of the Mediterranean Region. Currently, she is Group Function Head of Global HR Services and HR Transformation.

“Sylvia brings a wealth of experience in HR, change management and talent management to the role,” said ABB CEO Ulrich Spiesshofer. “I am delighted to welcome Sylvia to the Executive Committee. I would like to thank JC Deslarzes for his outstanding contribution as Chief Human Resources Officer over the past five years. Under his leadership, ABB has developed a world-class talent management and people development strategy for the digital era, and significantly improved its attractiveness to young talent.”

Deslarzes will continue to support ABB’s transformation until beginning of 2020 and report directly to CEO Ulrich Spiesshofer. He will remain non-executive Chairman of ABB India.

In December 2018, ABB announced the appointment of Morten Wierod, currently Managing Director Business Unit Drives, as business leader for the newly created Motion business. He will become a member of the Executive Committee effective April 1, 2019.

Short- and long-term outlook

Macroeconomic signs are mixed in Europe and are trending positively in the United States, with growth expected to continue in China. The overall global market is growing, with rising geopolitical uncertainties in various parts of the world. Oil prices and foreign exchange translation effects are expected to continue to influence the company’s results.

ABB’s businesses are either the global #1 or #2 player in attractive markets with strong secular drivers. The company’s addressable market for its new businesses Electrification, Industrial Automation, Motion, and Robotics and Discrete Automation is expected to grow long term by 3.5-4 percent per annum.

More information

The Q4 2018 results press release and financial information documents are available on the ABB News Center at www.abb.com/news and on the Investor Relations homepage at www.abb.com/investorrelations.

ABB will host a press conference today starting at 9:00 a.m. Central European Time (CET) (8:00 a.m. BST, 3:00 a.m. EST). The event will be accessible by webcast on https://new.abb.com/media/media-event---strategy-update-2019.

ABB will host an analyst and investor conference today starting at 12:00 p.m. CET (11:00 a.m. GMT, 6:00 a.m. EST). The event will be webcast for approximately 90 minutes, covering Q4 and FY18 results and the group’s Strategy update presentation. The webcast and related materials will be accessible from 11:00 a.m. CET at: go.abb/strategy-update-2019

A recorded session will be available as a webcast following the end of the conference call.

ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in power grids, electrification products, industrial automation and robotics and motion, serving customers in utilities, industry and transport & infrastructure globally. Continuing a history of innovation spanning more than 130 years, ABB today is writing the future of industrial digitalization with two clear value propositions: bringing electricity from any power plant to any plug and automating industries from natural resources to finished products. As title partner in ABB Formula E, the fully electric international FIA motorsport class, ABB is pushing the boundaries of e-mobility to contribute to a sustainable future. ABB operates in more than 100 countries with about 147,000 employees. www.abb.com


   


   


   


   


   

INVESTOR CALENDAR 2019

Annual General Meeting
   


   


   


   

May 2, 2019

First quarter 2019 results
   


   


   


   

May 2, 2019

Second quarter 2019 results
   


   


   


   

July 25, 2019

Third quarter 2019 results
   


   


   


   

October 23, 2019

Important notice about forward-looking information

This press release includes forward-looking information and statements as well as other statements concerning the outlook for our business, including those in the sections of this release titled “Short-term outlook”, “Full-year 2018 Group Results”, “2018 Highlights” and “Short- and long-term outlook”. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, including global economic conditions, the economic conditions of the regions and industries that are major markets for ABB Ltd. These expectations, estimates and projections are generally identifiable by statements containing words such as “expects,” “believes,” “estimates,” “targets,” “intends”, “aims” or similar expressions. However, there are many risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this press release and which could affect our ability to achieve any or all of our stated targets. The important factors that could cause such differences include, among others, business risks associated with the volatile global economic environment and political conditions, costs associated with compliance activities, market acceptance of new products and services, changes in governmental regulations and currency exchange rates and such other factors as may be discussed from time to time in ABB Ltd’s filings with the U.S. Securities and Exchange Commission, including its Annual Reports on Form 20-F. Although ABB Ltd believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved.

Zurich, February 28, 2019

Ulrich Spiesshofer, CEO

1 Growth rates for orders, third-party base orders and revenues are on a comparable basis (local currency adjusted for acquisitions and divestitures). US$ growth rates are presented in Key Figures table.
2 For non-GAAP measures, see the “Supplemental Financial Information” attachment to the press release.
3Constant currency (not adjusted for portfolio changes).
4EPS growth rates are computed using unrounded amounts. Comparable operational earnings per share is in constant currency (2014 exchange rates not adjusted for changes in the business portfolio).
5 Cash flow from operating activities is presented in the Consolidated Statement of Cashflows and includes both cash flows from continuing and discontinued operations.

Contacts

For more information, please contact:
ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland
Media Relations
Phone: +41 43 317 71 11
E-mail: media.relations@ch.abb.com
or
Investor Relations
Phone: +41 43 317 71 11
E-mail: investor.relations@ch.abb.com


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ABB Strategy Update: Shaping a Leader Focused in Digital Industries

Global software partnership with Dassault Systèmes and targets for New ABB’s four leading businesses announced

ZURICH-Thursday 28 February 2019 [ AETOS Wire ]

    New ABB: focus, simplify, lead
    Focused portfolio: Divestment of Power Grids to Hitachi well on track
    Simplified structure: New operating model “ABB-OS™” for enhanced customer focus, agility
    and profitability; ~$500 million annual savings
    Four new leading businesses, #1 or #2 in their respective markets, effective April 1, 2019 with
    new medium-term business operational EBITA margin target corridors of:
        Electrification: 15-19 percent
        Industrial Automation: 12-16 percent
        Motion: 14-18 percent
        Robotics & Discrete Automation: 13-17 percent
    Medium-term group targets confirmed:
        3-6 percent annual comparable revenue growth
        Operational EBITA margin of 13-16 percent
        Return on Capital Employed (ROCE) of 15-20 percent
        Cash conversion to net income of approximately 100 percent
        Basic EPS growth above revenue growth
    ABB and Dassault Systèmes enter global software partnership for digital industries



(BUSINESS WIRE)-- On December 17, 2018, ABB announced fundamental actions to focus, simplify and lead in digital industries for enhanced customer value and shareholder returns. These actions are: focusing the portfolio on digital industries through the divestment of the Power Grids division, the simplification of the business model through the discontinuation of the legacy matrix structure, as well as the shaping of four leading businesses aligned with customer patterns.

At its strategy update to media and investors today, ABB presents details on and a roadmap for the future of its four new businesses, their leadership and customer value proposition for digital industries. As part of this, ABB is publishing the profit margin target corridors of the businesses.

ABB is announcing a new global software partnership with Dassault Systèmes, a unique end-to-end digital value proposition in combination with its leading digital solutions offering ABB Ability™ to support the planning, building and operations of industrial customers’ operations.

“The new ABB will be a pioneering technology leader in digital industries, operating in attractive markets, with a unique offering of innovative solutions in electrification, automation, robotization and digitalization. We are shaping four customer-focused, entrepreneurial businesses that are already the global #1 or #2 player in their respective markets today. With ABB Ability™, our digital solutions offering, we will continue to drive profitable growth, whilst managing the transformation of our ABB into a more agile, streamlined and customer-focused group. The partnership with Dassault Systèmes will further strengthen our position as leader in digital industries and provide our customers an end-to-end offering of advanced open digital solutions, enhancing their competitiveness and innovation patterns,” said ABB CEO, Ulrich Spiesshofer.

“This path will position us well for the future and will materially enhance value for all stakeholders. I would like to thank our employees worldwide for their outstanding commitment shown during this period of change as we look forward to the next chapter in this company’s proud history spanning more than 130 years,” added Spiesshofer.

Timo Ihamuotila, CFO of ABB: “Our healthy improved order backlog at the end of the year makes us confident about our new set up. We expect solid operating cash generation of the new ABB, positioning us well to continue investing in R&D and sales in a disciplined way. At the same time, we will relentlessly look for efficiency improvement potential to lower our cost base. We expect to deliver $500 million in net cost savings from our simplification program in the medium term.”

The new ABB: lower risk, less volatile, more growth

The new ABB will have in total $29 billion in annualized revenues and around 110,000 employees. Its four customer-focused, entrepreneurial businesses are either the global #1 or #2 player in their respective markets, influencing the future of how we power, produce, work, live and move. ABB’s addressable market is expected to grow by 3.5-4 percent per annum, adding $140 billion in size to reach $550 billion by 2025. Driving this demand will be growing influence of electric mobility, data centers and robotics.

Transformational milestone: Global Partnership with Dassault Systèmes

Following on from its proven track record of digital partnerships with Microsoft, HPE and IBM, ABB has today announced a wide spanning global partnership with Dassault Systèmes to offer customers in digital industries a unique software solutions portfolio ranging from product life cycle management to asset health solutions. The two companies will provide customers an end-to-end offering of advanced open digital solutions, enhancing competitiveness of industrial companies, while increasing flexibility, speed and productivity of their products' lifecycles, manufacturing and operations.

The partnership will combine the strengths of ABB Ability™ digital solutions and Dassault Systèmes' 3DEXPERIENCE platform, and build on both companies’ strong installed base, deep domain expertise and global customer access. ABB has already adopted the 3DEXPERIENCE platform to model and simulate its solutions before delivering them to its customers. With this partnership, ABB will develop and provide customers with advanced digital twins, enabling customers to run ABB’s solutions and their operations with improved overall efficiency, flexibility and sustainability.

The companies will, in a staged approach, focus on smart factories and robotics, process industry automation, as well as electrification solutions for smart buildings. The first joint solutions will be showcased at the upcoming industrial Hannover Messe trade fair in Germany, April 1-5, 2019.

Launched two years ago, ABB Ability™ represents the globally leading digital offering in Industry 4.0, from device to edge to cloud. Some 45 percent of ABB's new orders are generated from digital solutions, while the order pipeline for ABB Ability™ has increased by more than 20 percent since October 2018.

The platform of ABB Ability™ runs as an open architecture and cloud infrastructure, which allows customers to use other software from partners, suppliers and developers. ABB offers approximately 180 digital solutions, which enable enterprises to increase productivity, efficiency and safety at lower costs.

Simplification of business model and structure

During the first quarter of 2019, ABB is preparing for the new business structure and a new operating system – “ABB-OS™” – to be implemented in stages by mid-2020. ABB will discontinue the legacy matrix structure, thereby empowering its four leading businesses to serve customers even better, while further sharpening responsibilities and increasing efficiency.

ABB’s new organization will provide each business with full entrepreneurial ownership of operations, functions, R&D and territories. The businesses will be the single interface to customers, maximizing proximity and speed. The corporate center will be further streamlined, while existing country and regional structures including regional Executive Committee roles will be discontinued after the closing of the Power Grids transaction. Existing resources from country level will strengthen the new businesses.

ABB expects a total of ~$500 million annual run-rate cost reductions across the group with $150-200 million run-rate targeted during 2019 and the full run-rate targeted during 2021. Clear actions to deliver the ~$500 million have been identified, with approximately $300 million of savings to be realized from the businesses, for example through fewer P&Ls and management layers and optimizing ABB̕s manufacturing footprint. Approximately $200 million savings are planned to come from Group functions and a leaner corporate center.

Four new leading businesses

The four new businesses are: Electrification, Industrial Automation, Motion and Robotics & Discrete Automation. ABB will report according to the new business structure as of April 1, 2019.

Electrification – writing the future of safe, smart and sustainable electrification

    FY 2018 ~$13 billion revenues
    FY 2018 ~13% operational EBITA margin1
    Medium-term operational EBITA margin target corridor of 15-19%
    $160 billion addressable market, forecast to grow at 3% p.a.
    Above market revenue growth and significant margin growth potential

The Electrification business is the Global #2 providing one of the largest and most comprehensive portfolios with a complete offering from source to socket. The business delivers clear customer benefits including speed and uptime, contributing to significant investment payback.

It provides a complete portfolio of innovative products, digital solutions and services with some 1.7 million products shipped every day. Products range from critical power and building products to electric vehicle charging infrastructure. The business has 55,000 employees and will be led by Tarak Mehta.

The business expects to deliver above market growth through a combination of geographic growth in the US and China, focus on higher growth segments such as data centers, smart buildings and services for e-Mobility, along with portfolio benefits with modular, scalable, pre-configured solutions. Margin improvement will be delivered through volume leverage, focus on higher margin segments, the turnaround of GEIS and operational improvements.

ABB successfully launched in the USA last year its Terra HP 350kW electric vehicle charger, which recharges a vehicle for 200 kilometers in just eight minutes.

“There are good opportunities for Electrification as urban populations grow and the world forges ahead to create a lower-carbon future. We are expanding our operations in rapidly digitalizing markets, offering modular, scalable, preconfigured solutions with ABB Ability™-enabled products and services to ensure our customers realize safer, smarter and sustainable operations,” said Tarak Mehta, President of the Electrification business.

Industrial Automation – writing the future of safe and smart operations

    FY 2018 ~$6.5 billion revenues
    FY 2018 ~14% operational EBITA margin
    Medium-term operational EBITA margin target corridor of 12-16%
    $90 billion addressable market, forecast to grow at 3% p.a.
    Above market growth and good margin profitability with low capital requirement

The newly-shaped Industrial Automation business, without B&R, is the Global #2 focused on writing the future of safe and smart operations. Industrial Automation will address customer needs with a unique portfolio of integrated solutions based on its leading technologies, including its #1 DCS (distributed control systems), its deep industry expertise, the largest installed base with over 35 million connected devices and vast global footprint.

It is focused on providing integrated automation solutions across process, electrical and motion, measurement and analytics, as well as marine and turbo charging solutions for customers in the Oil & Gas, Chemicals, Utilities, Mining & Minerals, Pulp & Paper, and Marine & Ports industries. The business has 21,000 employees and will be led by Peter Terwiesch.

The business expects to drive above market growth through industry-specific, differentiated automation solutions across process, electrical and motion that build on its leading DCS and comprehensive ABB offering, as well as tailored growth initiatives for key verticals. It expects to accelerate revenues from ABB Ability™ solutions and new service business models leveraging its unique installed base and unrivalled service footprint to support customer during their assets’ lifecycle.

“With our deep industry knowledge and automation expertise, we understand the needs of our customers and enable them to lead through safer, more productive and energy efficient operations. Moreover, with our portfolio of integrated automation solutions, combined with our offering of ABB Ability™ digital applications, lifecycle services and artificial intelligence, we are driving the evolution towards more autonomous operations,” said Peter Terwiesch, President of the Industrial Automation business.

Motion – writing the future of smart motion

    FY 2018 ~$6.5 billion revenues
    FY 2018 ~16% operational EBITA margin
    Medium-term operational EBITA margin target corridor of 14-18%
    $80 billion addressable market, forecast to grow at 3% p.a.
    Above market growth and continued strong profitability

ABB’s newly created Motion business is the Global #1 in motion industries is set to capture the benefits of the world going electric. Motion will build on its pioneering technology leadership, its domain expertise and its global scale and coverage. Already today, a third of the world’s electricity is converted by electrical motors into motion, driven by a growing population, urbanization and digitalization. ABB expects the number of electric motors to double by 2040, which is the equivalent of the energy consumed by the whole of China annually.

Motion provides customers with a comprehensive range-energy efficient, reliable and safe electrical motors, generators, drives and services. Its ABB Ability™ Digital Powertrain solution sets the standards for digitalization in motion industries. The business has 20,000 employees and will be led by Morten Wierod, who will also become a member of the Executive Committee, effective April 1, 2019.

The business expects to deliver above market growth by building on its leading local market positions in motors and drives. It will grow by dedicated geographic initiatives, its segment specific portfolio and using ABB Ability™ services to deliver the future of smart motion. Motion’s ability to sustain and improve its EBITA margin, against a backdrop of cost inflationary and pricing pressure, will come from being able to scale benefits, from ABB Ability™, from its innovation along with the simplified operating system.

“As the world goes electric, Motion has an excellent growth outlook. We will bring even more value to our customers and partners with ABB Ability™-based offering and services,” said Morten Wierod, President of the Motion business.

Robotics & Discrete Automation – writing the future of flexible manufacturing and smart machines

    FY 2018 ~$3.6 billion revenues
    FY 2018 ~15% operational EBITA margin
    Medium-term operational EBITA margin target corridor of 13-17%
    $80 billion addressable market, forecast to grow at 6% p.a.
    Strong top-line and margin growth potential

The Robotics & Discrete Automation business will combine ABB’s machine and factory automation Business (mainly B&R) with the Group’s superior robotics platform. It will be uniquely positioned to capture the opportunities associated with the “Factory of the Future” by writing the future of flexible manufacturing and smart machinery.

It provides a unique offering for flexible automation, combining control, motion, robotics, software and services – providing integrated solutions from machine to factory level. The business, which is already number two globally by size and number one by growth, has 11,000 employees and will be led by Sami Atiya.

The business expects to deliver above market growth driven through the portfolio and geographical expansion, driving synergies from unique portfolio and expansion in factory automation, including a greater role for ABB Ability™, artificial intelligence and partnering with Dassault Systèmes. Margin benefits will come from continued growth, scale benefits and performance initiatives whilst continuing to fund investments for future growth.

“In combining B&R’s machine and factory automation business with our superior Robotics solutions, we are driving an unmatched, comprehensive offering to help our customers create the flexible Factory of the Future,” said Sami Atiya, President of the Robotics & Discrete Automation business. “Our unique product portfolio, deep application expertise and advanced engineering and simulation tools, including ABB Ability™, ensure we help our customers improve quality and increase productivity and manufacturing flexibility, while maximizing uptime – all in a faster time-to-market solution.”

Value Creation in the new ABB

ABB will demonstrate improved commercial quality of business, enhanced exposure to faster growing markets, with a greater emphasis on high value-add solutions, less risk and large order volatility and more recurrent revenues through digital solutions, software and services.

ABB’s investment proposition is reflected in a new medium-term group target framework for the Group:

    3-6 percent annual comparable revenue growth
    Operational EBITA margin of 13-16 percent
    Return on Capital Employed (ROCE) of 15-20 percent
    Cash conversion to net income of approximately 100 percent
    Basic EPS growth above revenue growth

ABB’s sustained capital allocation priorities are unchanged:

    Fund organic growth in R&D and digital
    Rising sustainable dividend
    Value-creating acquisitions
    Returning additional cash to shareholders

The divestment of an 80.1% shareholding in Power Grids to Hitachi for an enterprise value of $11 billion is well on track. Following completion of the transaction in the first half of 2020, ABB intends to return 100 percent of the net cash proceeds of $7.6-7.8 billion to shareholders in an expeditious and efficient manner and execute a policy of a rising sustainable dividend. ABB intends to maintain the level of dividend per share post close and aims to maintain its “single A” credit rating long term.

More information

The strategy update results press release and financial information documents are available on the ABB News Center at www.abb.com/news and on the Investor Relations homepage at www.abb.com/investorrelations.

ABB will host a press conference today starting at 09:00 a.m. Central European Time (CET) (08:00 a.m. BST, 03:00 a.m. EST). The event will be accessible by webcast on https://new.abb.com/media/media-event---strategy-update-2019.

ABB will host an analyst and investor conference today starting at 12:00 p.m. CET (11:00 a.m. GMT, 6:00 a.m. EST). The event will be webcast for approximately 90 minutes, covering Q4 and FY18 results and the group’s Strategy update presentation. The webcast and related materials will be accessible from 11:00 a.m. CET at: https://new.abb.com/investorrelations/strategy/strategy-update-2019

A recorded session will be available as a webcast following the end of the conference call.

ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in power grids, electrification products, industrial automation and robotics and motion, serving customers in utilities, industry and transport & infrastructure globally. Continuing a history of innovation spanning more than 130 years, ABB today is writing the future of industrial digitalization with two clear value propositions: bringing electricity from any power plant to any plug and automating industries from natural resources to finished products. As title partner in ABB Formula E, the fully electric international FIA motorsport class, ABB is pushing the boundaries of e-mobility to contribute to a sustainable future. ABB operates in more than 100 countries with about 147,000 employees. www.abb.com

Important notice about forward-looking information

This press release includes forward-looking information and statements as well as other statements concerning the outlook for our business. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, including global economic conditions, the economic conditions of the regions and industries that are major markets for ABB Ltd. These expectations, estimates and projections are generally identifiable by statements containing words such as “expects,” “believes,” “estimates,” “targets,” “intends”, “aims” or similar expressions. However, there are many risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this press release and which could affect our ability to achieve any or all of our stated targets. The important factors that could cause such differences include, among others, business risks associated with the volatile global economic environment and political conditions, costs associated with compliance activities, market acceptance of new products and services, changes in governmental regulations and currency exchange rates and such other factors as may be discussed from time to time in ABB Ltd’s filings with the U.S. Securities and Exchange Commission, including its Annual Reports on Form 20-F. Although ABB Ltd believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved.

Zurich, February 28, 2019

Ulrich Spiesshofer, CEO

1 Electrification result adjusted to include GEIS on an annualized basis, based on H2 2018 contribution

Contacts

ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland

Media Relations
Phone: +41 43 317 71 11
E-mail: media.relations@ch.abb.com

Investor Relations
Phone: +41 43 317 71 11
E-mail: investor.relations@ch.abb.com

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Indian President Presents Award to The Nippon Foundation Chairman Yohei Sasakawa in Recognition of Years of Work to Eliminate Leprosy

 Gandhi Peace Prize ceremony hosted by Government of India



TOKYO-Thursday 28 February 2019 [ AETOS Wire ]

(BUSINESS WIRE) -- At a ceremony held by the Government of India at Rashtrapati Bhawan, the president’s official home, on February 26, 2019 (local time), Indian President Ram Nath Kovind presented the Gandhi Peace Prize to The Nippon Foundation Chairman Yohei Sasakawa. Indian Prime Minister Narendra Modi also presented Mr. Sasakawa with a handicraft item and a check for 10 million rupees (approximately 15 million yen, or US$140,000) that accompany the prize. Mr. Sasakawa is the first Japanese national to receive the award.

Presenting the award, President Kovind recognized Mr. Sasakawa’s work, commenting, “He has been instrumental in helping us win crucial battles in the war against leprosy – to prevent and eradicate the disease, and to end stigma and discrimination,” and adding “On behalf of India, I must appreciate the services of Mr Sasakawa and his Foundation.”

In his acceptance speech, Mr. Sasakawa expressed his thanks for the prestigious award, noting, “I do not receive it alone. I receive it together with all who have worked with me over the years. This award will certainly give us renewed encouragement from Mahatma Gandhi.” He also called for continued cooperation going forward, adding “Together, we can realize a world where no one needs to suffer from leprosy nor its associated stigma and discrimination.” He also commented that he intends to donate the monetary award to leprosy elimination efforts.

About the Gandhi Peace Prize

The Gandhi Peace Prize was established in 1995 by the Government of India to commemorate the 125th anniversary of Mahatma Gandhi’s birth. Past non-Indian recipients include Nobel Peace Prize laureates Nelson Mandela and Archbishop Desmond Tutu of South Africa, and Grameen Bank of Bangladesh.

The Indian government awarded the prize to Mr. Sasakawa in recognition of his activities including his work toward the global elimination of leprosy as WHO Goodwill Ambassador for Leprosy Elimination.

Reference:
About the Gandhi Peace Prize (Ministry of Culture, Government of India website)
https://indiaculture.nic.in/gandhi-peace-prize

Reference:
Past Gandhi Peace Prize recipients (1995–2014; Ministry of Culture, Government of India website)
https://indiaculture.nic.in/sites/default/files/awards/AwardeesGPP_24.09.2018.pdf

Ministry of Culture press release announcing the Gandhi Peace Prize recipients for 2015–2018
http://pib.nic.in/PressReleseDetail.aspx?PRID=1560246

About Yohei Sasakawa, Chairman of The Nippon Foundation
http://leprosy.jp/english/column/

View source version on businesswire.com: https://www.businesswire.com/news/home/20190227005280/en/

Contacts

The Nippon Foundation
Tomoyuki Hashimoto
Communication Department
pr@ps.nippon-foundation.or.jp
81-80-9028-4381

Permalink : https://www.aetoswire.com/news/indian-president-presents-award-to-the-nippon-foundation-chairman-yohei-sasakawa-in-recognition-of-years-of-work-to-eliminate-leprosy/en

Huawei Launches Smart Products at MWC 2019, Reaffirms Commitment to 5G Era

BARCELONA, Spain-Monday 25 February 2019 [ AETOS Wire ]

(BUSINESS WIRE) -- During MWC 2019, Huawei CBG launched the HUAWEI MateBook X Pro; HUAWEI MateBook 13; HUAWEI MateBook 14; the 5G foldable smartphone, HUAWEI Mate X; and the HUAWEI 5G CPE Pro.

Richard Yu, CEO of Huawei CBG said, “With the advent of the all-scenario era, consumers are looking forward to revolutionary experiences. We will spare no effort to create world-leading 5G unlike anything before.”

Updated HUAWEI MateBook X Pro

The HUAWEI MateBook X Pro is equipped with a 13.9-inch 3K Ultra FullView display with 91 percent screen-to-body ratio. The laptop is powered by an Intel® Core™ i7 8565 and NVIDIA® GeForce® MX250 with 2GB GDDR5. It features broadband Wi-Fi, Bluetooth 5.0 and Thunderbolt™ 3 port and the Dolby Atmos® Sound System. The flagship features HUAWEI Share 3.0, solving data transmission difficulties between Windows notebooks and Android smartphones.

HUAWEI MateBook 13 and HUAWEI MateBook 14

The HUAWEI MateBook 13 and HUAWEI MateBook 14 feature a 10-point multi-touch 3:2 FullView display. HUAWEI MateBook 14 is powered by the Intel® Core® i7-8565U. NVIDIA® GeForce® MX250 is available on HUAWEI MateBook 14 while the HUAWEI MateBook 13 has an NVIDIA GeForce MX150. Both notebooks have HUAWEI Shark Fin Fan 2.0 and HUAWEI Share 3.0.

HUAWEI Mate X

The HUAWEI Mate X combines 5G, foldable screen, AI and an all-new mode of interfacing with an unprecedented user experience. This device features a flexible OLED panel, the Falcon Wing Mechanical Hinge, Balong 5000, powerful cameras and a 4,500mAh battery supporting HUAWEI SuperCharge.

HUAWEI 5G CPE Pro

Powered by Balong 5000, HUAWEI 5G CPE Pro provides ultra-high speed broadband, bringing smart homes into the 5G era.

About Huawei Consumer BG

Huawei’s products and services are available in more than 170 countries and are used by a third of the world’s population. Fifteen R&D centers have been set up in the United States, Germany, Sweden, Russia, India and China. Huawei Consumer BG is one of Huawei’s three business units and covers smartphones, PC and tablets, wearables and cloud services, etc. Huawei’s global network is built on almost 30 years of expertise in the telecom industry and is dedicated to delivering the latest technological advances to consumers around the world.

For more information please visit: http://consumer.huawei.com

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190224005084/en/

Contacts
Ben Haber
Huawei@racepointglobal.com
617-624-3200


https://www.aetoswire.com/news/huawei-launches-smart-products-at-mwc-2019-reaffirms-commitment-to-5g-era/en

Brightstar Launches NX Life, Its Latest Line of Trusted, Pre-Owned Devices

BARCELONA, Spain-Wednesday 27 February 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- Brightstar, the leader in device lifecycle management and value-added services for the connected world, has launched NX Life, a new brand centered around trusted, pre-owned mobile devices.

Among its portfolio of specialized services for the wireless industry, Brightstar has more than 20 years working in reverse logistics. This area of expertise allows Brightstar to manage the buyback and trade-in processes, meaning all smartphones that consumers return are collected, tested, graded, and then resold into new markets.

With locations throughout the world, Brightstar handles millions of returns every year. Its team of experts, paired with sophisticated AI-based machinery, perform meticulous reviews of every device it receives, thoroughly testing each one for cosmetic and functional defects. Where needed, Brightstar’s labs will refurbish the phones to ensure that all devices specially packaged and sold under the NX Life brand meet its high-quality standard.

“As the prices for new mobile devices increase year after year, we’re creating opportunities for new segments of customers to confidently buy great products at a great price,” said Arturo Osorio, Brightstar’s President and Chief Operating Officer. “This has opened a new market for pre-owned Apple and Samsung phones that are just as good as the latest models even if they’re a year or two old. In a nutshell, NX Life caters to this market by delivering affordable, much-needed pre-owned phones.”

Designed as the affordable alternative to the latest generation of iconic devices, NX Life phones will always fit into one of three price points—$249, $349, or $499.

Moving forward, as consumer demand for pre-owned devices continues to grow throughout the world, NX Life will expand into more countries and new markets. Furthermore, in the coming months, NX Life will be rolling out a line of accessories to complement its phones.

About Brightstar Corp.

Brightstar simplifies the wireless world, making mobile technology accessible to everyone. A subsidiary of SoftBank Group Corp., we are the world’s leading mobile services company for managing devices and accessories. We work with carrier, retail and enterprise customers across 57 countries, touching every stage of a device’s lifecycle, from when it’s manufactured to the moment it’s time to trade it in and re-market it. To learn more about Brightstar, please visit Brightstar.com. To learn more about NX Life, please visit nxlifemobile.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190226006068/en/

Contacts

Brett Pogany, 305-421-6000


Permalink : https://www.aetoswire.com/news/brightstar-launches-nx-life-its-latest-line-of-trusted-pre-owned-devices/en

Wipro to Offer Advanced Cybersecurity Services Layered with Microsoft Security Capabilities

BANGALORE, India -Wednesday 27 February 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, is announcing the expansion of its global relationship with Microsoft Corp. to offer digital security services to their clients across the globe. As part of this relationship, Wipro will offer integrated digital security services, including Microsoft Azure and Microsoft 365 based security services.

Wipro is helping global clients in their journey of digital innovation, optimization and transformation, and enabling business to be more secure and compliant to regulatory requirements. This initiative will focus on various security services integrating Microsoft Azure and Microsoft advanced security capabilities, including Identity and Access Management, Data Protection and Threat Protection.

Sheetal Mehta, Senior Vice President and Global Head, Cybersecurity & Risk Services, Wipro Limited said, "Wipro has been investing in building security capabilities for the cloud and digital areas and we have seen a good amount of success. We have bet big on cloud security and digital risk management capabilities to secure our clients' business. Our innovative Cyber Defense Platform, that integrates with multiple cloud environments can assist customers with security operations, security monitoring and risk governance in their cloud migration journey. This relationship with Microsoft will offer a unique value proposition for our customers, as it will provide differentiated digital security capabilities coupled with unmatched risk governance-based digital services."

“Customers tell us they need security solutions that offer deeper technical expertise, greater flexibility and the ability to stay ahead of emerging threats as the marketplace evolves,” said Ann Johnson, Corporate Vice President, Cybersecurity Solutions Group, Microsoft Corp. “By extending our relationship with Wipro, customers can better secure their environment with integrated, end-to-end protection, through new options in security that combine Microsoft’s advanced cybersecurity capabilities with Wipro’s extensive IT services.”

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 175,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.

Forward-looking and Cautionary Statements

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.





View source version on businesswire.com: https://www.businesswire.com/news/home/20190226005678/en/

Contacts

Purnima Burman
Wipro Limited
purnima.burman@wipro.com

Permalink : https://www.aetoswire.com/news/wipro-to-offer-advanced-cybersecurity-services-layered-with-microsoft-security-capabilities/en

Wednesday, February 27, 2019

Taulia Grows Early Payments Revenue by 126% and Achieves Profitability

Key 2018 milestones include:

• Businesses globally accelerated $24bn through early payments via Taulia
• Early payments revenue grew by 126%
• Signed new customers across five continents including landmark GBP30m UK Government’s procurement framework contract (Crown Commercial Services), Rio Tinto, Sasol and Telstra
• Taulia became profitable under U.S. GAAP
• Customers benefited from new AI powered user interface



SAN FRANCISCO-Wednesday 27 February 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- Market-leading working capital solutions provider Taulia, rounded off a year of spectacular growth marked by numerous high-profile achievements including accelerating $24bn in early payments, doubling from $12bn in 2017, and expanding its network by over 1m to over 5.2m connections globally. The company also announced that it was opening its first Asia Pacific office in Sydney, Australia, with plans to expand the team rapidly during 2019.

This news follows another major milestone in the second half of 2018 when Taulia achieved profitability under U.S. GAAP. Rene Ho, Taulia’s CFO said, “Many VC-backed companies never reach profitability. Now profitable as well as debt free, Taulia is well capitalized to support our customers and to continue to innovate.”

Meanwhile, the last year has seen Taulia announce partnerships with new customers, including global mining group Rio Tinto, integrated chemicals and energy company Sasol and Australian mobile phone provider Telstra.

In August 2018, Taulia also signed a major £30m framework contract with the UK government’s procurement organization, Crown Commercial Services (CCS). Taulia commenced with the $11 billion Pharmacy Early Payment scheme (PEPS). The agreement also provides early payment solutions to central government, local authorities and the National Health Service (NHS).

Taulia’s success in 2018 was underpinned by the company’s continuing commitment to technological innovation. Using a new AI-powered buyer user interface, customers can access the insights needed to make on-the-spot, real-time decisions, and thereby optimize discount rates and payment terms.

Cedric Bru, CEO of Taulia, said: “We believe a winning mindset is key to success, and this is something that Taulia and our clients continue to demonstrate. In 2019 we will be looking to build on our considerable achievements over the last year and support our customers in freeing up the cash trapped in supply chains globally.”

Note to editors:

Taulia delivers working capital solutions that make it easy for businesses to free up cash, accelerate payments and improve supply chain health.

Since its foundation in 2009, Taulia has envisioned a world where every business can thrive by liberating cash using our state of the art platform. Today our team of financial game changers have built a network connecting 1.6 million businesses across 168 countries and has accelerated more than $90 billion in early payments.

Taulia is headquartered in San Francisco with locations across the United States, the UK and Europe.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190226005655/en/

Contacts

Juhie Kapoor
Director Content and Communications
Email: juhie.kapoor@taulia.com
Tel: +44 (0) 20 7121 6506



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Nordson EFD Introduces New Fluid Dispensing Guide for Machine Builders

Learn about the wide range of dispensing solutions and resources EFD has to offer, plus a useful valve selection guide.


EAST PROVIDENCE, R.I.-Wednesday 27 February 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- Nordson EFD, a Nordson company (NASDAQ: NDSN), the world’s leading precision fluid dispensing systems manufacturer, is pleased to introduce a new Machine Builder Solutions Guide and Dispense Valve Selection Guide.

These guides are designed to make it easier for custom automation providers to understand and select the right fluid dispensing systems for end-users. The solutions guide includes testimonials and links to useful resources such as 3D and 2D CAD models of Nordson EFD valves, controllers, dispense tips, tanks, components, fittings, and more.

It also includes several application examples with recommended dispense valves and controllers. Find out how to register for a complimentary application test. Discover why it’s important to get an application specialist involved early in a project to avoid common pitfalls.

The valve selection guide allows users to find the right valve based on the fluid being dispensed and the dispense pattern required. It includes valve and controller comparison grids that allow machine builders to compare features and specifications to better identify the right solution. It also includes a fluid reservoir comparison grid, which provides recommendations based on fluid viscosity and production volume.

“As products and solutions grow in complexity, machine builders face increasing demands to design custom automation systems that boost productivity and business agility while lowering cost of ownership for end-users,” said Claude Bergeron, product line manager of valves at Nordson EFD. “We understand the challenges they face, and we provide a wide range of reliable dispensing systems along with 50+ years of application expertise to help them meet those challenges.”

For more information, email Nordson EFD at info@nordsonefd.com, or call +1 401.431.7000 or 800.556.3484.

About Nordson EFD

Nordson EFD designs and manufactures precision fluid dispensing systems for benchtop assembly processes and automated assembly lines. By enabling manufacturers to apply the same amount of adhesive, lubricant or other assembly fluid to every part, every time, EFD dispensing systems are helping companies in a wide variety of industries increase throughput, improve quality, and lower their production costs. Other fluid management capabilities include high-quality syringe barrels and cartridges for packaging one- and two-component materials, along with a wide variety of fittings, couplers and connectors for controlling fluid flow in medical, biopharmaceutical and industrial environments. The company is also a leading formulator of specialty solder pastes for dispensing and printing applications in the electronics industry.

About Nordson Corporation

Nordson engineers, manufactures, and markets differentiated products and systems used for dispensing and processing adhesives, coatings, polymers, sealants and biomaterials; and for managing fluids, testing and inspecting for quality, treating surfaces and curing. These products are supported with extensive application expertise and direct global sales and service. We serve a wide variety of consumer non-durable, consumer durable and technology end markets including packaging, nonwovens, electronics, medical, appliances, energy, transportation, building and construction, and general product assembly and finishing. Founded in 1954 and headquartered in Westlake, Ohio, the company has operations and support offices in more than 30 countries. Visit Nordson on the web at nordson.com, twitter.com/Nordson_Corp or facebook.com/nordson.

This press release features multimedia. View the full release here: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=51932084&lang=en

Contacts

Natalie Tomasso
Marketing Communications Specialist
+1-401-431-7173 (USA)
natalie.tomasso@nordsonefd.com

For more information contact:

Nordson EFD

Global
Natalie Tomasso
+1-401-431-7173; natalie.tomasso@nordsonefd.com

Europe
+44 (0) 1582 666334; europe@nordsonefd.com

China
+86 (21) 3866 9006; china@nordsonefd.com

Japan
+81 (03) 5762 2760; japan@nordsonefd.com

Korea
+82 (31) 7368321; korea@nordsonefd.com

SEAsia
+65 6796 9522; sin-mal@nordsonefd.com

India
+91 80 4021 3600; india@nordsonefd.com

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GSMA Announces Winners of the 2019 GLOMO Awards



BARCELONA, Spain -Wednesday 27 February 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- The GSMA announced winners of the 2019 GLOMO Awards at MWC19 Barcelona which were presented by TV and radio presenter, Remel London and BBC Africa Business Editor and presenter, Larry Madowo. The GLOMOs showcase those companies and individuals that are driving innovation in the rapidly evolving mobile industry.

“Our congratulations to all of the winners and nominees of the GSMA’s GLOMO Awards 2019,” said John Hoffman, CEO, GSMA Ltd. “The GLOMO’s are a testament to the incredible innovation and ingenuity shaping our industry and it is truly an outstanding achievement to have been selected by our esteemed judging panels. We thank all of our entrants, judges, sponsors and partners for supporting the 2019 GLOMO’s.”

The winners of the 2019 GLOMO Awards are:

Best Mobile Network Infrastructure
Ericsson for 5G high-band Massive MIMO

Best Mobile Technology Breakthrough (Companies more than $10million Annual Global Revenue)
Huawei for Huawei 5G RAN Innovation

Best Mobile Technology Breakthrough (Companies less than $10million Annual Global Revenue)
Athonet for Athonet BubbleCloud

Best Network Software Breakthrough (Companies more than $10million Annual Global Revenue)
KT for Integrated Orchestrator Platform for customized B2B service

Best Network Software Breakthrough (Companies less than $10million Annual Global Revenue)
Athonet for Athonet BubbleCloud

Best Mobile Authentication & Security Solution
Nok Nok S3 for Authentication Suite (Nok Nok S3 Suite)

Outstanding Mobile Technology Award - The CTO’s Choice
Athonet for Athonet BubbleCloud

Best Mobile Operator Service for Consumers
Sunrise & Huawei for Sunrise 5G FWA service

Best Mobile Service for the Connected Life
Aira for Aira: Visual Interpreter for the Blind

Best Use of Mobile Marketing
Reliance Jio Infocomm for Jio Cricket Play Along

Most Innovative Mobile App
SK Telecom for T Map for Ultimate Driving Safety

Best Overall Mobile Consumer Innovation
Epic Games for the Fortnite Franchise

Best Mobile Innovation for Enterprise
Athonet for Athonet BubbleCloud

Best Mobile Innovation for Health and BioTech
BIMA for mHealth from BIMA

Best Mobile Innovation for Education
Aira for Aira: Visual Interpreter for the Blind

Best Mobile Innovation for Automotive
Huawei for C-V2X Solution

Best Mobile Innovation for Payment and Fintech
KT for Genie Pay

Best Mobile Innovation for Commerce
Ubamarket & DMI for Ubamarket

Best Mobile Innovation for Smart Cities
Gaoqing Government & Huawei for Adding “Smart” to “Happy”

Best Smartphone – The Judges' Choice
Huawei for Huawei Mate 20 Pro

Disruptive Device Innovation Award – The Judges' Choice
Google for Google Night Sight

Best Wearable Mobile Technology
Samsung for Samsung Galaxy Watch

Best Connected Consumer Device
Goodix for Secure Live-Finger Detection Solution

Best Mobile VR or AR
Accenture for AVEnueS

Best Mobile Video Content Service
SK Telecom for oksusu

Best Content and Media Innovation – The Judges' Choice
Epic Games for the Fortnite Franchise

Best Mobile Innovation for Emerging Markets
Mavenir for Mavenir Sponsored Data Rewards Platform

Best Mobile Innovation for Women in Emerging Markets
BBC Media Action for Kilkari

Best Mobile Innovation supporting Emergency or Humanitarian Situations
Lumkani for Lumkani

Best Use of Mobile for Accessibility & Inclusion
Beeline Russia for Beeline.Motorica

The Green Mobile Award
GenCell Energy for GenCell A5 Off-Grid
Telefonica for 100% Renewable Energy Plan 2030

Outstanding Mobile Contribution to the UN SDGs
World Food Programme for SCOPE CODA

Government Leadership Award
Finnish Government

Outstanding Contribution to the Mobile Industry
Kaan Terzioğlu, CEO, Turkcell

European 5G Pioneer Award
Deutsche Telekom AG for driving an ecosystem approach towards 5G commercialization

5G Leadership Award
Nokia for Nokia 5G Future X – Unleashing the Potential of 5G

5G Industry Partnership Award
Hamburg Port Authority, Deutsche Telekom & Nokia for First Large Scale Industrial Commercial 5G Trial

Additional GLOMO Awards to Be Unveiled

On Wednesday, 27 February, nominees for the ‘4YFN Startup of the Year Award 2019’ will pitch their business idea to an audience and expert judging panel at 15:00 – 16:00 CET on the Banc Sabadell Stage, Hall 8, Fira Montjuïc, with the winner announced live.

The Women4Tech Leadership Awards will be presented at 09:15, Thursday, 28 February during the Women4Tech Summit, in Hall 4, Auditorium A, Fira Gran Via. Also on Thursday, the award for ‘Best New Connected Mobile Device @ MWC 2019’ will be presented from the winner’s stand at 09:45 CET as well as broadcast live on Mobile World Live TV.

The 2019 GLOMO Awards Category Sponsors include: National Instruments for ‘Mobile Tech’; Dolby for ‘Content and Media’; Mobica for ‘Fourth Industrial Revolution’; and Mobileum for ‘Consumer’. Mashable are the Official Media Partner for this year’s GLOMO Awards. The awards are judged by independent experts, analysts, journalists, academics, and, in some cases, mobile operator representatives.

For further information on GLOMO Awards winners please visit http://www.mwcbarcelona.com/2019-global-mobile-awards-winners.

Get involved at MWC19 Barcelona

For more information on MWC19 Barcelona, including how to exhibit or sponsor, visit www.mwcbarcelona.com. Follow developments and updates on MWC19 on Twitter @GSMAEvents using #MWC19, on our LinkedIn MWC page https://www.linkedin.com/showcase/mwcbarcelona/ or on Facebook at https://www.facebook.com/mobileworldcongress/. Follow other GSMA news and activity on Twitter @GSMA.

-ENDS-

About the GSMA

The GSMA represents the interests of mobile operators worldwide, uniting more than 750 operators and nearly 400 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces the industry-leading MWC events held annually in Barcelona, Los Angeles and Shanghai, as well as the Mobile 360 Series of regional conferences.

For more information, please visit the GSMA corporate website at www.gsma.com. Follow the GSMA on Twitter: @GSMA.





View source version on businesswire.com: https://www.businesswire.com/news/home/20190226005773/en/

Contacts

Media Contacts:
For the GSMA
Beau Bass
+44 79 7662 4962
beau.bass@webershandwick.com

Daniel Ancin / Gloria Almirall
+34 93 236 09 00
Dancin@webershandwick.com

GSMA Press Office
pressoffice@gsma.com


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