ABB announces Group results for Q2 2018

According to ABB’s quarterly Group report, in the second quarter of 2018 the Group recorded order growth in all divisions and across all regions, with revenues up 1 percent compared to a year ago.

Power Grids, however, had lower revenues than in the same period last year due to the lower opening order backlog, the report said.

Here are the key figures for the Power Grids division in the second quarter:

  • Momentum in third-party base order growth continued, rising 7 percent.

  • Total orders were up 5 percent.

  • Renewables, grid digitalization and pick up in industrial and transportation sectors contributed to the growth.

  • At the end of the second quarter, the order backlog was 4 percent lower compared to the prior year period.

  • Revenues were 8 percent lower dampened by the lower opening order backlog.

  • Operational EBITA margin was 9.7 percent, mainly due to lower revenues and investment in the ongoing Power Up program.

During the second quarter ABB announced an investment of €100 million in an R&D facility and training campus in Eggelsberg, Austria, and an investment of around $30 million in a new transformer manufacturing unit in Sweden.

Source: ABB