ABB - 1st quarter 2017
Increased sales, basic orders and profit
ABB has announced its figures for the first quarter of the 2017 financial year. CEO Ullrich Spiesshofer sees "the first signs of market stabilization in parts of the process industry and also some growth signals in early-cycle businesses" in the rising sales.
ABB CEO Ullrich Spiesshofer on the short-term outlook: "Macroeconomic and geopolitical developments signal a mixed scenario with ongoing uncertainties."
© ABBSpecifically, ABB increased sales by 3% on a comparable basis in the first quarter of 2017 (down 1% in US dollars) and grew in the Electrification Products, Power Grids and Robotics & Drives divisions. Sales in the service and software business rose by 1% overall (decline of 1% in US dollars) and contributed 18% to total sales, as in the same period of the previous year.
The Robotics and Drives division recorded the largest increase in sales in the first quarter of 2017 and is also ahead in terms of incoming orders.
© ABBIn contrast, incoming orders fell by 3% (9% in US dollars) compared to the same period of the previous year, which was due in particular to the decline in large orders (USD 15 million or more). These fell by 34% (50% in US dollars) in the Industrial Automation and Power Grids divisions; overall, they accounted for 10% of total order intake, compared to 17% in the same quarter of the previous year. Basic orders (less than USD 15 million), on the other hand, increased by 2% (down 1% in US dollars) and improved in the Electrification Products, Industrial Automation and Robotics & Drives divisions. Orders for service and software increased by a total of 7% (5% in US dollars) compared to the first quarter of 2016. They accounted for 24% of total order intake, compared with 21% in the prior-year period.
ABB's order backlog amounted to USD 23 billion at the end of March 2017 and was 2% lower (11% in US dollars) than at the end of the first quarter of 2016. Finally, net income increased from USD 500 million to USD 724 million.
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