Zurich, Switzerland | 2020-07-22
- Orders $6.1 billion, -18%; comparable -14%1
- Revenues $6.2 billion, -14%; comparable -10%
- Income from operations $571 million; margin 9.3%
- Operational EBITA1 $651 million; margin1 10.6%
- Net income $319 million, +398%2
- Basic EPS $0.15, +398%3; operational EPS1 $0.22, -35%
- Cash flow from operating activities $680 million; resilient cash delivery expected for the full year
- Power Grids divestment completed July 1
- Net cash proceeds to be returned to shareholders, as planned
- “As expected, the second quarter has been heavily impacted by COVID-19. At the same time, we were very focused on cost mitigation efforts which provided some resilience. Operational margins for the Group turned out better than we had anticipated, with Motion doing particularly well,” said Björn Rosengren, CEO of ABB. “A lot of uncertainty remains and we still see some challenging quarters ahead. At the same time, our way forward is clear. We will continue to roll out our new operating model, review our business portfolio and start our share buyback program.”
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