Inbound orders were US$8.19 billion, up 4 percent from the same quarter last year, the maker of industrial robots, charging stations or automation solutions for electric cars said on Thursday. However, on a comparable basis, adjusted for portfolio and currency effects, the increase was 16 percent.
Order intake slowed a bit as organic growth was still 20 percent in the second quarter.
However, there was a slight acceleration in sales. This rose 5 percent to $7.41 billion, or +18 percent on a comparable basis. There was still a 3 percent drop in the second quarter (pg. +6%). ABB writes that no significant change has been observed in the activities of our customers.
Operating income (EBITDA) increased 16% year on year to $1,231 million and the corresponding margin increased 1.5pp to 16.6%.
Net profit fell a significant 45 percent to US$360 million. However, a one-time effect plays a role here. As announced in late September, approximately $325 million was earmarked for a lawsuit in South Africa in the third quarter.
ABB slightly exceeded analysts’ expectations.
For the fourth quarter, ABB forecasts low double-digit comparable revenue growth. EBITDA margin is likely to decrease compared to the previous year due to seasonal developments.
For 2022 as a whole, the company expects the operating margin target of at least 15 percent planned for 2023 alone to be met already.
(SDA)
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.
