ABB delivers strong order growth and cash in Q2

2014-8-3 ABB press release www.abb.com

 ABB delivers strong order growth and cash in Q2

• Orders up 13%¹; book-to-bill ratio² of 1.04x
• Group operational EBITDA³ impacted by loss in Power Systems (PS)
• Decisive step change actions implemented in PS
• Cash from operations up by more than $300 million
• Successful execution of announced portfolio pruning

Zurich, Switzerland, July 23, 2014 – ABB today reported strong order growth, stable revenues and a significant increase in cash from operations for the second quarter of 2014. The lower operational EBITDA margin mainly reflects ongoing project-related challenges in the Power Systems (PS) division. 

Orders⁴ of $10.6 billion were 14 percent higher (13 percent on a like-for-like basis²) compared with the same quarter in 2013. Base orders accelerated and large orders grew more than 70 percent. The positive growth momentum was supported across all regions.

“Last October we said that we will drive organic growth through penetration, innovation and expansion and now we are delivering results,” said ABB Chief Executive Officer Ulrich Spiesshofer. “Our focused actions are paying off and support overall increased order momentum. In the second quarter we saw encouraging growth in our two largest markets, the US and China.”