ABB
Into the new year with a strong order backlog
The electrical engineering group ABB recorded double-digit growth in order intake and sales in the 2021 financial year.
ABB 's day-to-day business went well. The Group recorded revenue growth of eleven percent to 28.95 billion US dollars (25.63 billion euros) in 2021, while new orders rose by as much as 20% to 31.9 billion dollars, as ABB announced in Zurich on Thursday (February 3). In the fourth quarter in particular, ABB received significantly more orders than in the previous year and clearly exceeded expectations.
Operating profit climbed by 42% to 4.1 billion dollars in 2021. On the bottom line, the company earned 4.55 billion dollars last year, 12% less than in 2020. In the previous year, ABB reported a net profit of 5.15 billion dollars, thanks in part to the book profit from the sale of the Power Grids division. In 2021, the sale of the Mechanical Power Transmission division (Dodge) resulted in a book profit of just USD 2.2 billion.
ABB expects positive market momentum in the current year. The high order backlog should have a positive impact. In addition, a steady improvement in the margin is expected with a view to the target of at least 15 % from 2023.
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