Description
In the second quarter, market demand in the power sector showed a complex trend. Businesses related to the integration of renewable energy and investment in improving grid reliability, especially those related to digitalization, continued to grow.
Large-scale investment in power grid fields such as long-distance transmission continues to be sluggish.
Based on the broad-spectrum coverage of the customer base, industrial demand is growing well this quarter. Investments from process industries such as oil and gas and mining continue to grow, and capital expenditures are mainly focused on
automation upgrades of existing projects. Continued focus on specific industries such as food and beverage and automotive has driven order growth in businesses such as ABB”s automation and robotic solutions.
Market demand in the transportation and infrastructure sectors has grown steadily, with outstanding orders in rail transit electrification, the construction industry and special ships. Business highlights for the quarter also included continued strong
growth in the data center and electric vehicle fast charging solutions businesses.
Sales revenue
In the second quarter, sales revenue increased by 1% year-on-year (up 5% in US dollars), and the Robotics and Motion Control Division and the Electrical Products Division maintained steady growth. Affected by the decline in order reserves at the
beginning of the year, the sales revenue of the Industrial Automation Division was flat year-on-year, while the sales revenue of the Power Grid Division declined.
Thanks to the leading ABB AbilityTM digital solution, service business sales revenue increased by 13% (16% in US dollars), accounting for 19% of total sales revenue from 17% in the same period last year.
Changes in exchange rates contributed to a 2% increase in sales revenue, and changes in business mix contributed to a 2% net increase in sales revenue.
“New Stage” Strategy
Since ABB implemented its “New Phase” strategy in 2014, it has focused on three major areas: profitable growth, comprehensive execution with no effort, and business-led cross-department cooperation. In the past few years, ABB has successfully
built four business divisions that are market-oriented and entrepreneurial; achieved major breakthroughs in the digital field through ABB Ability™; accelerated operational excellence; and strengthened ABB”s brand image.
ABB”s business units continue to drive profitable growth in key markets, leveraging new and existing ABB Ability™ end-to-end digital solutions to achieve a closed loop of connected devices based on the intelligent cloud. Each business unit continues to
focus on unremitting execution, maintain the current growth momentum, expand investment to promote growth, and closely link compensation with operating performance.
Now, with a leaner and stronger business portfolio, ABB will better seize market opportunities in more favorable market conditions. ABB”s technology comprehensively covers the power and industrial automation value chain and is used in various scenarios
from the power generation end to the power consumption end, from natural resource extraction to the completion of finished products.
Earnings growth
As part of its drive to drive profitable growth, ABB continues to expand its ABB Ability™ digital solutions, which now number more than 210, to meet the needs of customers in the power, industry, transportation and infrastructure sectors.
This quarter, ABB won an order from Danish green energy company Orsted to integrate offshore wind power into the British power grid. As part of the order, ABB will provide it with leading ABB Ability™ digital solutions to ensure the reliability
and operating efficiency of the power grid. In addition, ABB has reached cooperation with Yitai Group, a Chinese coal chemical enterprise. As the first order in a series of digital projects between the two parties, ABB will provide Yita with end-to-end ABB Ability™
digital solutions to significantly improve the production efficiency of its new factory.
Display operation panel DO802
Display operation panel DO802
Display operation panel DO801-eA
Display operation panel DO801 3BSE020510R1
Display operation panel DO801
Display operation panel DO801
Display operation panel DO801
Display operation panel DO630
Display operation panel DO620
Display operation panel DO620
Display operation panel DO610
Display operation panel DO210
Display operation panel DNC115
Display operation panel DLM02
Display operation panel DLM01
Display operation panel DL22N-22
Display operation panel DKL032
Display operation panel DIGIFAS7201
Display operation panel DIGIFAS7116
Display operation panel DIGIFAS7108
Display operation panel DIGIFAS7105
Display operation panel DI93a HESG440355R3
Display operation panel DI890
Display operation panel DI890
Display operation panel DI885
Display operation panel DI885
Display operation panel DI840-eA
Display operation panel DI840
Display operation panel DI831
Display operation panel DI831
Display operation panel DI830 3BSE013210R1
Display operation panel DI830
Display operation panel DI830
Display operation panel DI828-eA
Display operation panel DI825
Display operation panel DI825
Display operation panel DI821Z
Display operation panel DI821-eA
Display operation panel DI821
Display operation panel DI821
Display operation panel DI820-eA
Display operation panel DI820
Display operation panel DI820
Display operation panel DI818-eA
Display operation panel DI818
Display operation panel DI814-eA
Display operation panel DI814
Display operation panel DI814
Display operation panel DI814
Display operation panel DI811-eA
Display operation panel DI811
Display operation panel DI811
Display operation panel DI810-eA
Display operation panel DI810 3BSE008508R1
Display operation panel DI810
Display operation panel DI810
Display operation panel DI810
Display operation panel DI803-eA
Display operation panel DI803
Display operation panel DI803
Display operation panel DI802-eA
Display operation panel DI802
Display operation panel DI802
Display operation panel DI801-eA
Display operation panel DI801
Display operation panel DI801
Display operation panel DI801
Display operation panel DI801
Display operation panel DI724F
Display operation panel DI651
Display operation panel DI650 3BHT300025R1
Display operation panel DI650
Display operation panel DI620
Display operation panel DI610
Display operation panel DI581-S
Display operation panel DI524
Display operation panel DI210
Display operation panel DI04
Display operation panel DI01
Display operation panel DDO02
Display operation panel DDO01
Display operation panel DDI03
Display operation panel DDI01
Display operation panel DDC779CE102 3BHE027859R0102
Display operation panel DDC779CE102 3BHE027859R0102
Display operation panel DDC779BE02 3BHE006805R0002
Display operation panel DDC779BE02 3BHE006805R0002
Display operation panel DCS150-7E
Display operation panel DCP10
Reviews
There are no reviews yet.