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Tuesday 23.01.2018 | Name days: Strauta, Grieta
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ABB Group profit spikes 41%

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe power and automation technologies leader ABB Group revenues have surged 18%, which is the highest indicator in the past two years. While its net profit rose 41% to 655 million US dollars, the company’s spokewoman Agnese Muceniece informs the business news portal BNN.

Meanwhile, the EBITDA profit amounted to about 1.3 billion US dollars – an increase of 37% over the same quarter in 2010.

The volume of orders grew 25% and was the highest in all divisions. The basic orders (less than 15 million US dollars) increased in all divisions for the second consecutive quarter, reaching the highest volume since the second quarter of 2008.

Earnings before interest and tax (EBIT) edged up 43%, hitting about 1 billion US dollars. The EBIT includes financial resources worth 107 million US dollars from the payments related to the acquisition of Baldor.

Our performance suggests we have started expansion in terms of growth and profitability, says Joe Hogan, the CEO and president of ABB Group. We have successfully promoted the areas of growth and Baldor purchase had a major contribution to the performance boost. Our lowest cost base also continues to bear fruit, ensuring profitability to our growing business and a constant profit in areas in need of recovery.

 


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  1. gil says:

    Excellent performance!

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