ABB publishes 2017 annual report
Switzerland, Zurich: ABB Ltd. has published its 2017 annual report on its website, which has also been filed with the United States Securities and Exchange Commission.
According to the report, the following key figures can be highlighted:
Company’s total orders were steady with base orders up 5 % (comparable) and 6 % in US dollars. Revenues were up 1 % to $34.3 billion.
Operational EBITA margin was 12.1 %, while operational earnings per share was 1 % lower in constant currency terms.
Cash flow from operating activities was steady compared with 2016 at $3,799 million.
Net income increased 17 % in 2017 to $2,213 million, and basic earnings per share also increased 17 % to $1.04.
Power Grids Division
Power Grids Division generated $10.4 billion in revenues in 2017. This was a 2 % decrease compared with 2016, which was a result of the weaker large order intake as well as a lower opening order backlog compared to 2016.
The Power Grids division’s orders decreased 11 % to $9.6 billion, compared to $10.8 billion in 2016. This is mainly due to a drop in large orders which in 2016 included significant orders from India and China for ultra-high voltage direct current (UHVDC) transmission projects. Orders in 2017 increased in Europe and the Americas but saw declines in Asia, Middle East and Africa.
On a global basis, the Power Grids division faces worldwide competition across its portfolio mainly from Siemens and General Electric (GE Alstom). It also competes in specific geographies and in parts of the business with companies such as Hyundai, Hyosung, Crompton Greaves, TBEA and NARI.
In 2017, income from operations was $797 million, compared with $830 million in the prior year, while operational EBITA decreased 3 %.