ABB announces Q3 2018 Group results

Switzerland, Zurich: ABB Group has announced its third quarter results, which demonstrate “sustained growth, with total and base orders improving in all regions and all divisions,“ as commented by ABB CEO Ulrich Spiesshofer.

According to the reported results, Power Grids continued order momentum in the quarter, with total orders rising 11 percent and third-party base orders increasing 13 percent. Revenues were steady (5 percent lower in US dollars), with good service momentum mitigating the lower opening order backlog, the company statement said.

Large orders received in the quarter included a substantial order to supply HVDC converter stations that will transmit renewable energy from the Kyrgyz Republic and Tajikistan to Pakistan, and over $100 million of orders to supply traction equipment to Swiss train manufacturer Stadler.

Source: ABB