Electrification and digital, solid ABB growth 2018

ABB closed the 2018 with a total orders growth of +8%, up in all divisions and regions, and revenues at +4%, improved to $27,662 million, with strong growth in Robotics and Motion and Industrial automation. The consolidated portfolio of digital solutions of the ABB Ability offering drove growth across all divisions, as well as solid performances were registered in Electrification products.

In detail, base orders (below $15 million) improved by 6%, while large orders increased by 45%, representing 7% of total orders. Service orders grew by 7%, standing at 19% of total orders. Operational Ebitda margin was 10,9%, and reported net income decreased by -2%, to $2,173 million.

During the fourth quarter of 2018, total orders grew by 7% in all divisions and regions, with base orders and large orders both increased by 5%. Revenues grew by +5% reaching $7,395 million in the last quarter of 2018. The Group continued investing during 2018, announcing an investment worth €100 million to build a cutting-edge R&D campus in Austria, and a $150 million investment to build a state-of-the-art flexible robotics manufacturing site in Shanghai, also including an Artificial intelligence center of excellence. The acquisition of GEIS, completed on June 2018, then strengthened the competitiveness of company’s electrification products.

The annnounce of the agreement for the sale of its Power Grid business, on last December, thus showed the intentions of ABB to simplify its business structure focusing on shaping four new leading business: Electrification, Industrial automation, Motion, Robotics and Discrete automation. At last, on a short and long-term outlook, the Group sees mixed macroeconomics signs in Europe, while these are trending positively in the USA, with growth expected to continue in China. ABB thus expects to grow long term by 3,5-4% per annum, in all addressable markets for its four new businesses.

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