ZURICH -Friday 23 October 2020 [ AETOS Wire ]
Strong underlying performance
Orders $6.1 billion, -9%; comparable -8%1
Revenues $6.6 billion, -4%; comparable -4%
Income from operations $71 million; margin 1.1%
Power Grids gain of $5.3 billion, pre-tax, recorded in discontinued operations
Operational EBITA1 $787 million; margin1 12.0%
Net income $4.5 billion, +780%, including Power Grids gain
Basic EPS $2.14, +785%2; operational EPS1 $0.21, -36%
Cash flow from operating activities $408 million, after $273 million negative impact from pensions; resilient cash delivery expected for the full year
(BUSINESS WIRE)-- “Third quarter revenues in all business areas were still dampened due to the impact of COVID-19, although a strong recovery in China and ongoing cost mitigation efforts supported a strong underlying performance. On the upside, the integration of GEIS and turnaround of Installation Products in Electrification is starting to bear fruit and Motion is performing robustly. Robotics and Industrial Automation, on the other hand, are taking more time to recover,” said Björn Rosengren, CEO of ABB. “We are pushing ahead with the decentralization of the group and the ongoing review of our portfolio, while carrying out our share buyback program as planned. We look forward to presenting further details on our strategic progress at our Capital Markets Day on November 19.”
KEY FIGURES
CHANGE
CHANGE
($ millions, unless otherwise indicated)
Q3 2020
Q3 2019
US$
Comparable
9M 2020
9M 2019
US$
Comparable
Orders
6,109
6,688
-9%
-8%
19,509
21,702
-10%
-7%
Revenues
6,582
6,892
-4%
-4%
18,952
20,910
-9%
-7%
Income from operations
71
577
-88%
1,015
1,290
-21%
Operational EBITA1
787
806
-2%
-5%3
2,074
2,397
-13%
-14%3
as % of operational revenues
12.0
11.7
+0.3 pts
10.9
11.5
-0.6 pts
Net income attributable to ABB
4,530
515
+780%
5,225
1,114
+369%
Basic EPS ($)
2.14
0.24
+785%2
2.45
0.52
+370%2
Operational EPS ($)1
0.21
0.33
-36%2
-35%2
0.73
0.97
-25%2
-24%2
Cash flow from operating activities4
408
670
-39%
511
414
+23%
View source version on businesswire.com: https://www.businesswire.com/news/home/20201022006266/en/
Contacts
ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland
Media Relations
Phone: +41 43 317 71 11
Email: media.relations@ch.abb.com
Investor Relations
Phone: +41 43 317 71 11
Email: investor.relations@ch.abb.com
ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland
Investor Relations
Phone: +41 43 317 71 11
Email: investor.relations@ch.abb.com
or
Media Relations
Phone: +41 43 317 71 11
Email: media.relations@ch.abb.com
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