Saturday, October 24, 2020

ABB: Q3 2020 Results.

 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  




Permalink : https://www.aetoswire.com/news/abb-q3-2020-results/en