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Björn Rosengren (64) should be satisfied. The ABB boss can explain that it has grown significantly this year and has clearly increased its profits. Therefore, the company raises its forecast. As ABB announced on Thursday, sales from April to June increased 13 percent to $8.16 billion. Adjusted for currency and portfolio effects, sales rose as much as 17 percent.
Profitability increased with higher capacity utilization. Net profit increased to 906 million after 379 million the previous year. At that time, withdrawing from an old project and withdrawing from Russia resulted in high private costs.
IT incident without “financial consequences”
New orders arrive a little less frequently than before. In contrast, inbound orders, the basis for future sales, fell 2 percent to 8.67 billion. In the first quarter, ABB received 1 percent more orders. Similarly, orders rose 2 percent in the second quarter.
Cost inflation does not seem to be a problem: According to CEO Rosengren, price increases more than offset these effects. And May’s IT security incident – ABB was the victim of hackers – had “no financial consequences”. (SDA/lui)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
