ABB Sales Down 14% in 2Q - Modern Distribution Management

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ABB Sales Down 14% in 2Q

Swiss company also announces the appointment of Theodor Swedjemark, who will join the executive committee of ABB as chief communications officer.

Switzerland-based power and automation company ABB reported second-quarter sales of $6.2 billion, a 14% decrease compared to the same period a year ago and a 10% decrease on a like-for-like basis in local currencies. Profit nearly quadrupled to $395 million.

Year-to-date sales were $12.4 billion, down 12 percent from the prior-year period and down 8 percent on a like-for-like basis in local currencies. Profit was up 16% to $599 million.

The company this week also announced the appointment of Theodor Swedjemark, who will join the executive committee of ABB as the company’s chief communications officer, effective Aug. 1. Swedjemark has held the position on an interim basis since March 1.

Photo courtesy ABB

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