Description
Recently, global robotics giant ABB announced its third quarter financial report for 2021 :
Order volume was US$7.9 billion, an increase of 29% year-on-year and an increase of 26% on a comparable basis.
Sales revenue was US$7 billion, an increase of 7% year-on-year and an increase of 4% on a comparable basis.
Gross profit was US$2.3 billion, a year-on-year increase of 25%
Operating EBITDA was US$1.062 billion, with a profit margin of 15.1%
Net profit attributable to ABB was US$652 million, down 86%
Cash flow from operating activities was $1.104 billion, and cash flow from operating activities from continuing operations was $1.119 billion.
It is worth noting that although ABB achieved good data in the third quarter, it has declined overall compared with the second quarter. Order revenue fell by 2.6% compared with Q2,
and gross profit margin fell by 7.6% compared with Q2. In line with the trend of industry growth slowing down in the second half of the year.
ABB Group CEO Luo Biang said: The third quarter was mixed. On the one hand, high demand drove strong order growth; on the other hand, the tight supply chain had a larger-than-expected
impact on sales revenue. Nonetheless, we grew underlying operating earnings and margins, had strong cash flow, made progress on our business mix realignment, and completed a number of important product launches.
Third quarter robotics and discrete automation performance
As the leader in industrial robots, ABB”s robot orders grew rapidly in the third quarter, but its sales revenue was not ideal. The financial report shows that for the robot and discrete automation business,
the order volume in the third quarter was US$935 million, a year-on-year increase of 30% (a comparable increase of 26%), but the sales revenue was only US$813 million, a year-on-year increase of 1% (a comparable decrease of 3%).
In terms of orders. ABB said that customer activity increased in all market segments in the third quarter, with the strongest growth in machine automation orders, followed by the general industry, and the
consumer-oriented service robot segment; at the same time, all regions improved at a double-digit rate , among which the Americas and Europe exceeded the AMEA region, including a 17% year-on-year
increase in orders from China (comparable 10%).
In terms of income. The decline in comparable revenue was due to the combined impact of parts shortages and steady advances in robotics, resulting in machine automation facing delayed customer deliveries,
due to a conscious effort to support long-term profitability by reducing exposure to the automotive systems business, while The automotive systems business is currently facing a shrinking order backlog.
In terms of profit. The operating EBITA (earnings before interest, taxes, depreciation and amortization) of the Robotics and Discrete Automation business in the third quarter was US$90 million, a year-on-year increase
of 18%, and the profit margin reached 11.1%. This was attributed to the reduction of automotive system sales, increased service business share and efficiency. measure.
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