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03 March 2021 The on-line newspaper devoted to the world of transports 10:37 GMT+1

February 4, 2021

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ABB returns to revenue and value growth of the new orders

However, the result for shareholders was negative sign after 67 consecutive quarters of earnings

In the fourth quarter of 2020, the Swiss technology group ABB, which operates mainly in the fields of electrification and automation, has seen an improvement in the evolution of revenues, which have returned to growth after eight consecutive quarters decline, but the result for shareholders came into negative territory for the first time after 67 quarters consecutive earnings. In the last quarter of last year, the turnover amounted to $7.18 billion, with an increase of +1.6% over the corresponding period of 2019. The costs increased by +3.6% to $5.03 billion. The profit was $250 million (-60.1%). ABB has closed 2020 with a net loss of -56 million dollars compared to a net profit of 357 million in the period October-December 2019. The result for shareholders is was -$79 million compared to a profit of $325 million million in the last quarter of the previous year.

In the last quarter of 2020, after eight consecutive quarters decline, the value of the new orders forfeited by ABB, which amounted to 7.00 billion dollars (+1.7%). As of December 31st, the value of the portfolio orders was 14.30 billion (+7.3%).

In the full 2020 financial year, the group totalled revenues of $26.13 billion, with a decrease in the -6.6% on the previous year. Costs stood at 18.26 billion (-4.3%), operating profit was 1.59 billion (-17,8%) and net profit of $5.20 billion (+240.6%). It is not a last year the total value of the new orders was $26.51 billion (-7.3%).


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