December 2004News
Access Control & Identity Management
ABB, a leading power and automation technology group, reports a steady improvement in orders and revenues, earnings before interest and taxes (EBIT) as well as cash flow from operations in the third quarter of 2004.
Net income amounted to $98 million in the third quarter and $188 million for the first nine months of 2004, compared to losses of $283 million and $388 million, respectively, in the same periods of 2003. Cash flow from operating activities increased to $322 million, up $205 million from the same quarter last year.
"We continue to strengthen our performance," said Jürgen Dormann, ABB chairman and CEO. "We are on track to deliver a positive net income for 2004 and are confident that we will reach a Group EBIT margin of 8% in 2005, even though the Power Technologies division faces challenges to achieve its 2005 margin target."
The Automation Technologies division turned in a strong performance, reporting a 54% increase in EBIT. Power Technologies division EBIT was lower, mainly due to the remaining under utilisation in the power lines business and in other parts of the systems business.
Orders received in the core divisions amounted to $4,853 million, up 17% (11% in local currencies) in the third quarter of 2004 compared to the same quarter last year. The improvement was driven by continued growth in base orders (less than $15 million) in both divisions and a significant increase in large orders (more than $15 million) in the Automation Technologies division.
Both divisions saw strong order growth in both US dollar and local currency terms in China, the US, Latin America and Eastern Europe. Local currency orders from Western Europe were slightly higher in Automation Technologies and lower in Power Technologies. Group orders grew 9% to $4,782 million compared to the same quarter in 2003 (5% higher in local currencies).
Orders were sharply lower in non-core activities as a result of the divestment of most of the Building Systems businesses in the third quarter of last year. Excluding the difference in orders resulting from the Buildings Systems divestment, group orders were 16% higher (12% in local currencies).
Reinstatement opportunity for ECSA registration
News
In 2023 the Engineering Council of South Africa (ECSA) announced a special opportunity for engineers in South Africa to reinstate their registration status if it had been cancelled. This exclusive offer is available until the end of August 2024.
Read more...Schneider Electric launches first Innovation Hub in Africa Schneider Electric South Africa
News
Schneider Electric has officially launched its first Innovation Hub in Africa. This provides an interactive environment where visitors can explore the company’s integrated solutions across key segments and businesses such as energy, buildings, data centres, industrial, and power and grid.
Read more...Transforming pulp and paper with automation and digitalisation ABB South Africa
IT in Manufacturing
The pulp and paper industry in South Africa is undergoing a significant transformation from traditional manual processes to embracing automation technologies. Automation in pulp and paper mills aims to improve various production stages, from raw material preparation to final product creation.
Read more...A strategic milestone for Conical Technologies Conical Technologies
News
Conical Technologies has been appointed as the sole distributor in southern Africa for Mibbo, manufacturers of a vast array of products for the automation industry.
Read more...Robotics TechTalk at UKZN
News
The Scientific Multidisciplinary Advanced Research Technology Lab at the University of KwaZulu-Natal recently held an exciting TechTalk. It was an opportunity to introduce students to the IEEE Robotics and Automation chapter, SAIMC, and the Robotics Association of South Africa.
Read more...Schneider Electric honoured with Gender Leader Award Schneider Electric South Africa
News
Schneider Electric has been awarded the Gender Leader Award at this year’s Africa CEO Forum. This award acknowledges those organisations operating in Africa that have shown a significant and continuous commitment to gender diversity and inclusion.
Read more...Africa Automation Technology Fair 2025 closes on a high note
News
The Africa Automation Technology Fair 2025 officially wrapped up after three dynamic days at Gallagher Convention Centre, cementing its status as Africa’s leading platform for industrial automation, AI and IoT.
printer friendly version