Switzerland-based power and automation company ABB reported second-quarter sales of $8 billion, a 32% increase compared to the same period a year ago and a 24% increase on a like-for-like basis in local currencies. Profit grew to $752 million from $319 million.
“Double-digit order growth was reported in all business areas driven by a broad-based improvement across most short-cycle customer segments and a positive development in several process-related businesses,” said Björn Rosengren, CEO. “Growth was to some extent supported by customers stock-building.”
Year-to-date, sales were $15.7 billion, up 18% from the prior-year period and up 11% on a like-for-like basis in local currencies. Profit was up 80% to $1.3 billion.