The 2020 Mid-Year Economic Update_long

ABB Sales Flat in 2Q

Year-to-date sales down 1 percent year-over-year.

Switzerland-based power and automation company ABB reported sales for the second quarter of $10.2 billion, unchanged year-over-year. Profit decreased 17 percent to $636 million.

Orders were mixed across Europe; orders increased in Russia, the Netherlands and Germany and declined in Norway, the UK and France. The strong order development in the Americas partly reflects the large power transmission order won in Canada in the quarter, as well as a double-digit order increase in the U.S. and a significant increase in Brazil compared with the low levels of 2013.

Asian order growth was led by double-digit increases in China – especially in power products and discrete automation and motion – Indonesia and South Korea. Orders decreased in India. Orders increased in the Middle East and Africa – including strong double-digit growth in Saudi Arabia – mainly on higher demand in the power divisions.

Year-to-date sales were $19.7 billion, down 1 percent from the prior-year period. Profit decreased 17 percent to $1.2 billion.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.