ABB 's total order intake increased by 6% (16% in US dollars) in the first quarter of 2018 compared to the same period of the previous year - with growth in all divisions. Base orders under USD 15 million increased by 5% (15% in US dollars) across all regions. Changes to the business portfolio in connection with the acquisition of B&R, which was offset by the divestments made in 2017, had a positive impact of 3% on total order intake. Service orders grew by 8% overall (15% in US dollars) and accounted for 19% of the Group's total orders.

Turnover also increases

Sales improved by 1% (10% in US dollars) compared to the same period of the previous year. In the Robotics and Drives division and the Electrification Products division, sales increased due to continued solid order growth. This was offset by stable sales in the Industrial Automation division and a decline in sales in the Power Grids division - a consequence of the lower order backlog in these divisions at the end of 2017. In the service business, sales grew by 8% (15% in US dollars) and contributed 18% to total sales, as in the same quarter of the previous year. The development of the US dollar against the first quarter of 2017 had a positive translation effect of 7 % on order intake and sales.

In contrast, ABB's net profit fell by 21% in US dollars to USD 572 million.

ABB CEO Spiesshofer also commented on the acquisition activities: "The integration of B&R is fully on track. We are currently working intensively on finalizing the acquisition of GE Industrial Solutions and the subsequent integration. We expect to close the deal in the second quarter of 2018."

Outlook

In terms of the short-term outlook, ABB considers the macroeconomic signals for Europe and the US to be positive - growth is expected to continue in China. Global markets are growing again, but are still characterized by uncertainties in various parts of the world. The oil price and currency translation effects are expected to continue to influence the company's results.