ABB Issues Trading Update Following Better-Than-Anticipated Performance in Q1
April 15 2021 - 01:16AM
Dow Jones News
ABB is publishing preliminary information on its first-quarter
2021 results, which according to the information available to the
company, is better than the latest company guidance and current
market consensus. The preliminary results were driven by a
stronger-than-anticipated market development, especially during the
last weeks of March, and relates primarily to the short-cycle
business. Quarterly demand is likely to have been supported by
customer stock-building activities related to both component
availability constraints and rising commodity prices in the
industry.
Preliminary results for first quarter 2021:
($ millions,
unless otherwise indicated) Change
Q1 2021 Q1 2020 US$ Comparable(1)
Orders 7,750 7,346 +6% +1%
Revenues 6,900 6,216 +11% +7%
Operational EBITA(2) , % 13.5% 10.2% +330 pts
On the back of recent market developments, ABB is raising its
revenue guidance for full year 2021 outlook and now anticipates
comparable revenue growth of 5% or higher (previously: comparable
revenue growth to be broadly in line with its long-term target
range), including an anticipated recovery in the process industry
related part of the business during the second half of the
year.
ABB will publish its full first quarterly results on Tuesday,
April 27, 2021 at 07:00 a.m. CEST. Prior to that, the company will
not provide additional information on its financial results for the
period.
This is information that ABB is obliged to make public pursuant
to the EU Market Abuse Regulation. The information was submitted
for publication, through the agency of the contact person set out
below, at 06:45 a.m. CEST on April 15, 2021.
ABB (ABBN: SIX Swiss Ex) is a leading global technology company
that energizes the transformation of society and industry to
achieve a more productive, sustainable future. By connecting
software to its electrification, robotics, automation and motion
portfolio, ABB pushes the boundaries of technology to drive
performance to new levels. With a history of excellence stretching
back more than 130 years, ABB's success is driven by about 105,000
talented employees in over 100 countries.
Important notice about forward-looking information
This press release includes forward-looking information and
statements. These statements are based on current expectations,
estimates and projections about the factors that may affect our
future performance, and are generally identifiable by statements
containing words such as "anticipates", "guidance," or similar
expressions. However, there are many risks and uncertainties, many
of which are beyond our control, that could affect our ability to
achieve any or all of our stated targets. Factors that could cause
such differences include, among others, business risks associated
with the volatile global economic environment and political
conditions, changes in governmental regulations and currency
exchange rates and such other factors as may be discussed from time
to time in ABB Ltd's filings with the U.S. Securities and Exchange
Commission, including its Annual Reports on Form 20-F. Although ABB
Ltd believes that its expectations reflected in any such
forward-looking statement are based upon reasonable assumptions, it
can give no assurance that those expectations will be achieved.
(1) Comparable growth rates presented above primarily exclude
impacts on reported growth from changes in exchange rates. For a
definition of Comparable growth rates see the Q4 and full-year 2020
"Financial Information" under "Quarterly results and annual
reports" on our website at www.abb.com/investorrelations.
(2) For a definition of the operational EBITA see the Q4 and
full-year 2020 "Financial Information" under "Quarterly results and
annual reports" on our website at
www.abb.com/investorrelations.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210414006010/en/
CONTACT: ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland
Media Relations
Phone: +41 43 317 71 11
Email: media.relations@ch.abb.com
Investor Relations
Ann-Sofie Nordh
Phone: +41 43 317 71 11
Email: investor.relations@ch.abb.com
SOURCE: ABB
Copyright Business Wire 2021
(END) Dow Jones Newswires
April 15, 2021 01:01 ET (05:01 GMT)
ABB (NYSE:ABB)
Historical Stock Chart
From Feb 2024 to Mar 2024
ABB (NYSE:ABB)
Historical Stock Chart
From Mar 2023 to Mar 2024