ABB was able to increase its net profit in particular in the second quarter of 2018 compared to the previous year.

© ABB

Sales increased by five percentage points compared to the second quarter of 2017 to around USD 8.9 billion (previous year: USD 8.5 billion). Consolidated profit increased by 30% to USD 681 million.

"In the second quarter, we delivered order growth in all divisions and regions. We continued to implement our productivity measures with determination, improving our margin and increasing operating earnings per share by a double-digit percentage," said Ulrich Spiesshofer, CEO of ABB. "We completed the acquisition of GE Industrial Solutions within the announced timeframe. We are now working at full speed with our new colleagues on the integration."

The divisions in detail

The 'Industrial Automation' and 'Robotics and Drives' divisions recorded double-digit growth in both incoming orders and sales.

© ABB

"Our four divisions are resolutely continuing their efforts to achieve first-class efficiency and effectiveness," continued Spiesshofer. "The quarterly result shows that our transformation of recent years is bearing fruit." The Industrial Automation division recorded the highest growth in order intake compared to the same quarter last year, followed by the Robotics and Drives division (up 11%). These two divisions were also able to increase their turnover: The 'Industrial Automation' division by 17% to USD 1.8 billion and the 'Robotics and Drives' division by 11% to USD 2.3 billion. The 'Power Generation' division was the only one to see a drop in sales: sales fell by 6% compared to the previous year to USD 2.4 billion.

Market overview in the 2nd quarter of 2018

ABB recorded strong demand in all regions in the quarter under review:

• In the Europe region, order intake increased by 10% overall (22% in US dollars). The positive contributions from Germany, Italy, the UK, Norway, Spain and France more than offset declines in Sweden, Finland and Switzerland. Basic orders rose by 12% (24% in US dollars), with Italy and the UK making the largest contributions.
• In the Americas region , total order intake grew by 7% (7% in US dollars) with order growth in the USA, Canada and Mexico. Basic orders also rose by 7% (7% in US dollars). In the USA, total orders increased by 6% on a comparable basis (7% in US dollars) and basic orders by 7% (8% in US dollars).
• In the Asia, Middle East and Africa (AMEA) region , total order intake climbed by 7% (11% in US dollars) with good demand in China, India and the United Arab Emirates. Basic orders increased by 7% (12% in US dollars). The positive contributions from China, India and Australia more than offset the decline in order intake in South Korea and South Africa. In China, total and basic orders rose by 20% and 23% respectively (29% and 32% in US dollars).