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29 November 2020 The on-line newspaper devoted to the world of transports 23:09 GMT+1

October 23, 2020

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ABB Group revenues fell in the third quarter by -4.1%

Net profit up +773.8% on income resulting from the sale of 80.1% of the Power Grids division

In the third quarter of this year, the Swiss ABB, which operates in the electrification, robotics, automation and movement control, reported a net profit of 4.53 billion dollars, with growth of +773.8% on the corresponding period of 2019 which is the result of the effects of the sale of 80.1% of the Power Grids division to Japan's Hitachi ( of the 17th December 2018). Revenues fell by -4.1% to $6.58 billion, while costs rose by +1.0% to 4.75 billion. Operating profit amounted to 71 million dollars (-87.7%).

In the period July-September 2020, the value of new orders acquired by the Swiss group fell by -8.7% to 6.11 billions of dollars. Order book value at 30 last September was $13.88 billion, up +3.9% on 30 June 2020.

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