ABB's Q2 results
September 2010
News
ABB’s orders grew 5% in the second quarter of 2010, led by increases of more than 20% in each of the company’s automation divisions on the strength of the global economic recovery. Revenues were 5% lower than the previous year, mainly due to order declines in 2009 and the beginning of 2010 that flowed through to sales in the second quarter.
Earnings before interest and taxes (EBIT) decreased to $975 million, resulting in an EBIT margin of 12,9%. Savings in the quarter of more than $400 million from the company’s cost take-out programme played a key role in maintaining profitability. Cash from operations in the quarter was $649 million, down versus the same quarter a year earlier, while net income declined 8% to $623 million.
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