1st Quarter Results

ABB Ltd
24 April 2001

ABB Media Relations                     ABB Investor Relations
Thomas Schmidt                          Switzerland: Tel. [phone]
Tel: [phone]                     Sweden: Tel. [phone]
Fax: [phone]                     USA: Tel. [phone]
[e-mail]              [e-mail]

For your business and technology editors          

ABB reports higher Q1 revenues, earnings

- Revenues up 2 percent (8 percent in local currencies) despite mixed business  
  conditions
- Earnings up 6 percent (13 percent in local currencies), EBIT margin up 
- Group transformation on target 

Zurich, Switzerland, April 24, 2001 - ABB said today that revenues and earnings
rose in the first quarter of 2001, despite mixed current business conditions and
a further strengthening of the U.S. dollar. ABB also achieved key growth
strategy milestones, building up its customer-centric organization and
strengthening its Industrial IT capability. 

US$ in millions, except per share data     1Q 2001     1Q 2000     Change 1

Orders                                       6,786       7,141       - 5 %
Revenues                                     5,380       5,259         2 %
Earnings before interest and taxes (EBIT)      334         315         6 %
Income from continuing operations              201         206       - 2 %
Net income                                     138          55       151 %
Basic and diluted earnings per share (US$)
from
 - Income from continuing operations           0.68        0.70
 - Net income                                  0.47        0.19
     
EBITDA                                         524         514
     
1) In local currencies, orders are unchanged, revenues rose 8%, EBIT was up 13%,
   and income from continuing operations rose 5%

Orders decreased 5 percent to US$ 6,786 million, and were unchanged in local
currencies, as the Power Distribution and Oil, Gas and Petrochemicals segments
could not repeat their very strong order performance of the first quarter of
2000. Compared to the fourth quarter of 2000, total Group orders were up 14
percent in U.S. dollars. 

Revenues grew by 2 percent to US$ 5,380 million. When expressed in local
currencies, revenues increased by 8 percent. Higher revenues in Oil, Gas and
Petrochemicals more than offset decreases in Power Distribution and Power
Transmission.

Earnings before interest and taxes (EBIT) rose 6 percent to US$ 334 million
compared to the first quarter of 2000, and 13 percent when expressed in local
currencies. This includes other income from equity accounted companies and
licenses, a capital gain of US$ 2 million and a restructuring charge of US$ 6
million. EBIT margin increased from 6 percent to 6.2 percent over the period,
driven in large part by continued synergy gains from the integration of Elsag
Bailey. 

'I'm encouraged that we continue to improve our performance, especially as
demand has been mixed and we are implementing a major transformation of the
company,' said ABB president and CEO Jorgen Centerman.

Income from continuing operations was down 2 percent - up 5 percent in local
currencies - as interest expense increased due to somewhat higher debt levels
throughout the last year.

Net income more than doubled to US$ 138 million. However, most of this
improvement came from the reduced impact of discontinued operations. 

ABB's net cash provided by operating activities reversed from a positive US$ 23
million last year (first time ever that operating cash flow was positive in the
first quarter) to a negative US$ 217 million. This was primarily due to higher
working capital, driven by an increased level of large order execution compared
to last year, and more active trading by Financial Services, with a net increase
in marketable securities.

As of March 31, 2001, ABB employed 161,374 people compared to 160,818 at yearend
2000.

Outlook 1 
The outlook for the full year 2001 remains unchanged: Revenues are expected to
increase in comparison to 2000, and EBIT, income from continuing operations and
cash flow from operating activities are expected to be well above last year's
levels, assuming current mixed business conditions continue.

For the first six months of 2001, EBIT growth is expected to lag revenue growth
due to the high level of one-time items in the first half of 2000. The second
half of 2001 is expected to see higher comparative earnings growth. 

Mid-term targets remain unchanged. 

Highlights of the first quarter 2001
- ABB launched a bid to acquire Entrelec of France, a leading supplier of       
  industrial automation and control equipment, and bought Eutech Engineering    
  Solutions Ltd., a British consulting group specializing in the chemicals,     
  petrochemicals and pharmaceutical industries. 
- ABB won orders with a total value well above US$ 400 million for subsea oil   
  production systems, and orders worth almost US$ 100 million to improve the    
  power network in London, England.
- A new generator, Powerformer Light, was launched for use in gas and steam     
  turbine power plants. It can be connected directly to the high-voltage grid,  
  thus eliminating the need for any step-up transformer. The product was        
  developed in parallel with the world's first ultra-high-voltage motor,        
  MotorformerTM, also connectable directly to the grid.

-----------------------------------
1 Assumes no major currency effects

- ABB's Industrial IT solutions portfolio recently received the Editor's Choice 
  Award from Control Engineering magazine, identifying it as one of the most    
  innovative products of 2000. Industrial IT-enabled products aim to            
  significantly boost customer productivity by integrating information from all 
  of a company's processes into a single real-time information management       
  system.
- On April 6, ABB listed American Depositary Shares on the New York Stock       
  Exchange. The move aims to broaden the company's shareholder base in the      
  United States. 
- In late March, ABB launched a program to buy back six million shares for      
  cancellation, corresponding to about two percent of the company's total share 
  capital. The buy-back plan is designed to create more value for shareholders.
- Shareholders at ABB's Annual General Meeting in Zurich and Vasteras in March  
  approved a 4-to-1 share split aimed at improving the liquidity of the share.  
  The split is planned to take effect on May 7, 2001.

Accounting change:  FAS 133
Recently, the Financial Accounting Standards Board (FASB) 2 changed the
accounting rules for all companies reporting under US GAAP regarding derivative
instruments and hedging activities (FAS 133), which ABB was required to adopt
effective January 1, 2001. As communicated earlier, ABB had to record a
one-time, non-cash charge. The income statement was negatively affected by US$
63 million, recorded below income from continuing operations, and equity was
reduced by US$ 41 million under the heading 'other comprehensive income.' 

Transformation update
The transformation of ABB into a customer-centric organization, which began in
mid-January 2001, is proceeding according to plan and the new organizational
structure is expected to be in place in most markets by mid-year 2001. The
realignment began in 19 countries where ABB's presence is strongest,
representing about 80 percent of global revenues. 

ABB said it will begin to report its financial results according to its new
organizational structure by the third quarter of this year. The company also
plans to report quarterly on the progress of its transformation. Measurements
are being defined which will track important parameters like customer
penetration, key customer accounts and certification of Industrial IT products.

The transformation is based on the creation of six new customer-based divisions
serving utilities, process industries, manufacturing and consumer industries,
the oil, gas and petrochemicals sectors, and external channel partners for power
as well as for automation technology products. The previous Financial Services
segment remains unchanged. A Group Processes division provides and supports the
implementation of efficient best-practice business tools and processes across 
all divisions, while the Transformation team drives the change process, allowing
front-line people to focus on serving the needs of customers rather than
managing the transformation. 

-----------------------------------------------------------------
2 FASB is the key body governing US GAAP standards and accounting

Industrial IT expansion continues
The company won a number of orders for Industrial IT-based systems in the first
quarter. For example, Visy Industries of Australia ordered Industrial IT systems
- including manufacturing execution and supply chain management solutions - for
its five pulp and paper mills in Australia and two mills in the United States. 

ABB also expanded its product capabilities and geographic scope to support
growth in its Industrial IT offerings. The acquisition of Eutech brings ABB
expert knowledge of the chemical, petrochemical and pharmaceutical industries.
The planned acquisition of Entrelec would add considerable industry expertise,
advanced technology and improved coverage in key European and American markets.
Together, they allow ABB to deliver a wider range of Industrial IT offerings to
more customers.

Regional market review
Demand for ABB's products and services in the first quarter of 2001 varied
widely by country and business compared to last year. For the European markets
as a whole, orders were 3 percent higher in nominal terms (+10 percent in local
currencies) and revenues were up 1 percent (+8 percent). In the Americas, demand
was mixed, with order intake down 7 percent nominally (-4 percent) while
revenues rose 5 percent (+7 percent). In Asia, orders grew by 6 percent (+14
percent), reflecting stronger economies in certain countries, while revenues
were down 7 percent (unchanged). Orders from the Middle East and Africa were 38
percent lower (-32 percent) compared to an unusually high volume of large order
bookings in the Oil, Gas and Petrochemicals segment last year. As these flowed
through to revenues this year, ABB saw a first-quarter 14-percent revenue
increase in the region.

Segment review
The ABB Group's reporting currency is the U.S. dollar, which continued to
strengthen against most of ABB's local currencies. The impact of the
strengthened dollar, noted in earlier quarters, continued to unfavorably impact
results during the first quarter. All figures reflect first quarter activity.

Automation
 
US$ in millions, except      2001      2000       Nominal       Local
where indicated     
Orders                       2,148     2,134        + 1%         + 7%
Revenues                     1,765     1,742        + 1%         + 7%
EBIT                           113        95       + 19%        + 25%
EBIT Margin                   6.4%      5.5%          

Demand in process automation markets was flat, offset by growth in substation
automation. In the automotive market, conditions remained difficult. Against
this backdrop, total orders increased only slightly in nominal terms, although
some business areas showed double-digit growth offsetting downturns in others.

Total revenues were similarly flat, although again on mixed markets. Strong
revenue growth was recorded in Drives and Flexible Automation, while other
businesses were flat or negative.

EBIT improved by 19 percent. Productivity gains from the successful integration
of Elsag Bailey contributed to significant earnings growth in Instrumentation
and Control systems, along with Pulp, Paper, Metals, Minerals and Utilities.
Earnings growth was also supported by Drives and Electrical Machines. 

Power Transmission
US$ in millions, except 
where indicated               2001     2000      Nominal      Local
Orders                       1,132    1,013       + 12%       + 18%
Revenues                       699      751       - 7%         - 1%
EBIT                            60       55       + 9%        + 13%
EBIT Margin                    8.6%     7.3%          

Driven by concerns about the adequacy of energy supply, demand continued to
strengthen in North America, with Europe and Asia Pacific activity also up. As a
result, first quarter orders grew strongly by 12 percent.

Revenues were down from last year, reflecting both a lower order intake in the
second half of 2000, as well as the comparison with high revenues in the first
quarter of last year. EBIT improved, leading to a margin of 8.6 percent for the
quarter.
 
Power Distribution
US$ in millions,except 
where indicated                2001     2000     Nominal       Local
Orders                          703       922    - 24%         - 20%
Revenues                        605       650    - 7%          - 2%
EBIT                             30        35    - 14%        - 16%
EBIT Margin                     5.0%      5.4%          

Regional demand presented a mixed picture in the first quarter, with increased
investment from Latin America, continued activity in Europe, and a slowdown in
North America. Orders across all business areas were 24 percent down in
comparison to the first quarter of 2000. 

First quarter revenues were also down, as volume increases in Distribution
Transformers and Medium-Voltage Equipment did not make up for the drop in Power
Distribution Solutions. Similarly, earnings were below last year's level due to
higher base commodity prices and lower volume.

Building Technologies 
US$ in millions, except 
where indicated                 2001    2000     Nominal     Local
Orders                          1,734   1,824      - 5%       + 3%
Revenues                        1,413   1,390      + 2%       + 9%
EBIT                               90      95      - 5%       + 1%
EBIT Margin                      6.4%    6.8%          

Market demand showed signs of slowing on fears of a downturn in the business
cycle. Orders were down in nominal terms, although as always this segment's
largely European business was especially affected by the strength of the U.S.
dollar. All business areas reported modest order increases except for Building
Systems, which had a particularly large order booked in first quarter 2000.

Revenues increased slightly in nominal terms, with all business areas except
Service (which divested its U.S. workshops in 2000) contributing to growth.
Earnings were down in nominal terms, but improved when expressed in local
currencies. All businesses showed earnings growth except Service and Air
Handling Equipment.

Oil, Gas and Petrochemicals 
US$ in millions, except 
where indicated                 2001     2000     Nominal    Local
Orders                           961     1,117     - 14%     - 12%
Revenues                         754       529     + 43%     + 49%
EBIT                              41        30     + 37%     + 43%
EBIT Margin                      5.4%     5.7%          

Oil prices remained firm during the first quarter, although the average price
was lower than the 2000 average. There was good activity in the upstream
business, with a large number of deep water prospects under development, and
particularly strong demand from West Africa, the Gulf of Mexico, and Brazil.
Downstream markets were also active, but more cautious given uncertainty about
global economic trends and their potential impact on downstream industry
financial performance.

Orders declined in comparison with the high order intake in the first quarter of
2000. Upstream orders increased significantly on strong demand, but were offset
by the downstream business. In contrast, revenues were substantially up across
both the downstream and upstream businesses, reflecting the higher order backlog
at the end of last year.

Earnings also increased significantly on strong revenue growth, while EBIT
margin was slightly down. This was largely due to lower margins on large
downstream engineering, procurement and contracting (EPC) projects, which
typically contain non-ABB products. 

Financial Services
US$ in millions, except 
where indicated                 2001    2000      Nominal    Local
Revenues                         479     453        + 6%     + 10%
EBIT                              84      84          0%     + 7%

Interest rates and currency markets were volatile and credit spreads widened in
the first quarter of 2001, reflecting widespread concern about borrower credit
quality. These market developments presented opportunities for ABB's Financial
Services, which were reflected in higher revenues and earnings. In particular,
Structured Finance and Equity Ventures reported strong earnings growth on their
loan, leasing and investment portfolios.

Reporting dates
The remaining quarterly reporting dates in 2001 for ABB Ltd are scheduled for
July 24 and October 24. 

The company will host a conference call for analysts and investors to discuss
its first quarter results today at 16:00 Central European time. Teleconference
callers should dial [phone] in Europe and [phone] in the U.S.
This facility is also available to the media on a 'listen only' basis.

This press release includes forward-looking information and statements that are
subject to risks and uncertainties that could cause actual results to differ.
These statements are based on current expectations, estimates and projections
about global economic conditions, the economic conditions of the regions and
industries that are major markets for ABB Ltd and ABB Ltd's lines of business.
These expectations, estimates and projections are generally identifiable by
statements containing words such as 'expects', 'believes', 'estimates' or
similar expressions. Important factors that could cause actual results to differ
materially from those expectations include, among others, economic and market
conditions in the geographic areas and industries that are major markets for
ABB's businesses, market acceptance of new products and services, changes in
governmental regulations, interest rates, fluctuations in currency exchange
rates and such other factors as may be discussed from time to time in ABB's
filings with the U.S. Securities and Exchange Commission. Although ABB Ltd
believes that its expectations reflected in any such forward looking statement
are based upon reasonable assumptions, it can give no assurance that those
expectations will be achieved.



ABB Ltd 
Consolidated Income Statements

                                                Three months ended March 31     
                                                        (Unaudited)
                                                   2001                2000
                                            (in millions, except per share data)
           
Revenues                                    $     5,380          $     5,259
Cost of sales                                    (3,982)              (3,859)
Gross profit                                      1,398                1,400
Selling, general and administrative expenses     (1,054)              (1,065) 
Amortization expense                                (58)                 (55) 
Other income (expense), net                          48                   35 
Earnings before interest and taxes                  334                  315
Interest and dividend income                        142                  139
Interest expense                                   (180)                (154) 
Income from continuing operations before
taxes and minority interest                         296                  300
Provision for taxes                                 (87)                 (89) 
Minority interest                                    (8)                  (5) 
Income from continuing operations                   201                  206
Income (loss) from discontinued operations,
net of tax                                           --                 (151)
Change in accounting principles 
(introduction of FAS 133)                           (63)                  --
Net income                                    $     138            $      55

Weighted average shares outstanding                 293                  295
Dilutive potential shares                             2                    1
Diluted weighted average shares outstanding         295                  296

Basic earnings per share:          
     Income from continuing operations        $     0.68           $    0.70
     Income (loss) from discontinued operations       --               (0.51)
     Change in accounting principles               (0.21)                 --
     Net income                               $     0.47           $     0.19

Diluted earnings per share:          
     Income from continuing operations        $     0.68           $     0.70
     Income (loss) from discontinued 
     operations                                       --                (0.51)
     Change in accounting principles               (0.21)                  --
     Net income                               $     0.47           $     0.19


ABB Ltd 
Consolidated Balance Sheets

                                             At March 31,        At December 31,
                                                2001                 2000
                                                       (Unaudited)
                                             (in millions, except share data)


Cash and equivalents                           $     1,860         $     1,397
Marketable securities                                3,781               4,209
Receivables, net                                     8,356               8,328
Inventories, net                                     3,485               3,192
Prepaid expenses and other                           2,674               1,585
Total current assets                                20,156              18,711
Financing receivables                                4,088               3,875
Property, plant and equipment, net                   3,045               3,243
Goodwill and other intangible assets, net            3,153               3,155
Investments and other                                1,942               1,978
Total assets                                   $    32,384         $    30,962

Accounts payable, trade                        $     3,456         $     3,375
Accounts payable, other                              2,493               2,363
Short-term borrowings and current maturities
of long-term borrowings                              5,500               3,587
Accrued liabilities and other                        6,960               6,127
Total current liabilities                           18,409              15,452
Long-term borrowings                                 3,985               3,776
Pension and other related benefits                   1,688               1,790
Deferred taxes                                       1,364               1,528
Other liabilities                                    2,743               2,924
Total liabilities                                   28,189              25,470

Minority interest                                      292                 321

Total stockholders' equity                           3,903               5,171

Total liabilities and stockholders' equity     $    32,384          $   30,962

ABB Ltd 
Consolidated Statements of Cash Flows

                                                  Three months ended March 31   
                                                          (Unaudited)
                                                      2001              2000
                                                          (in millions)

Operating Activities          
Income from continuing operations               $      201          $     206
Adjustments to reconcile income from 
continuing operations to net cash provided 
by operating activities:          
     Depreciation and amortization                     190                199
     Restructuring charges                              (8)                10
     Pension and post-retirement benefits                1                 (4)
     Deferred taxes                                     26                 12
     Net gain from sale of property, 
     plant and equipment                                (2)               (25)
     Other                                             (61)               (31)
     Changes in operating assets and liabilities          
         Marketable securities - trading               (36)                57
         Other assets - liabilities                   (528)              (401)

Net cash provided by operating activities             (217)                23

Investing Activities          
Changes in financing receivables                      (540)                10
Purchases of marketable securities 
(other than trading)                                  (890)              (899)
Purchases of property, plant and equipment            (189)              (120)
Acquisitions of businesses (net of cash acquired)      (19)               (45)
Proceeds from sales of marketable securities
 (other than trading)                                1,022                618
Proceeds from sales of property, plant 
and equipment                                           23                 13
Proceeds from sales of businesses 
(net of cash disposed)                                   8                 78

Net cash used in investing activities                 (585)              (345)

Financing Activities          
Changes in borrowings                                2,476              1,230
Treasury and capital stock transactions               (579)                --
Dividends paid                                        (502)              (531)
Other                                                  (24)               (15)

Net cash provided by (used in) 
financing activities                                 1,371                684
Net cash provided by discontinued operations           (62)                --
Effects of exchange rate changes on 
cash and equivalents                                   (44)               (43)

Net change in cash and equivalents                     463                319
Cash and equivalents-beginning of year               1,397              1,615

Cash and equivalents-end of period             $     1,860        $     1,934

Interest paid                                  $       177        $       157
Taxes paid                                             122                 95


 ABB Ltd 

ABB Ltd notes to consolidated financial statements (Unaudited)
(Dollars in millions except per share amounts)

Note 1  The Company
ABB Ltd is a global technology company organized in five industrial business
segments and a financial services segment, with each segment having global
responsibility for its business strategies and its manufacturing and product
development activities, as applicable. 

Development in the three months ended March 31st, 2001:

- Share split
  At our annual general meeting held on March 20, 2001, our shareholders        
  approved a four-for-one share split to reduce the nominal value of our shares 
  from CHF 10 each to CHF 2.50 each. The share split will become effective      
  shortly after the effectiveness of a change to the Swiss Code of Obligations  
  allowing such a share split. We expect that the change in law will occur on   
  May 1, 2001.

- Share repurchase
   At our annual general meeting held on March 20, 2001 our shareholders        
   approved a share repurchase of 6,000,000 shares (24,000,000 shares after the 
   share split has been implemented), which corresponds to approximately 2% of  
   our nominal share capital. We intend to propose to our shareholders at next  
   year's annual general meeting a reduction of our nominal share capital for   
   the purpose of canceling such shares. By March 31, 2001 we have purchased    
   637,000 out of the 6,000,000 shares using our newly opened second trading    
   line.

   Additionally, between January 1, 2001 and March 31, 2001, we purchased a     
   total of approximately 6,769,000 shares in open markets purchases that we    
   hold as treasury shares. We may make additional purchases of shares from time
   to time in the future, e.g. to hedge employee option programs.

- Listing New York
  On April 6, 2001 we listed our American Depositary Shares (ADSs) on the New   
  York Stock Exchange. Simultaneously, we have launched an exchange offer aimed 
  at giving holders of restricted ADSs the opportunity to exchange to our new   
  ADSs that are eligible for trading on the New York Stock Exchange. Four new   
  ADSs will represent one registered share. Once the share split becomes        
  effective, each new ADS will represent one ABB share. Our new ADSs are traded 
  under the symbol 'ABB'. 

Note 2  Significant Accounting Policies
The consolidated financial statements are prepared on the basis of United States
(U.S.) generally accepted accounting principles and are presented in U.S.
dollars ($) unless otherwise stated. Par value of capital stock is denominated
in Swiss francs (CHF). The financial information as of March 31, 2001 should be
read in conjunction with the December 31, 2000 financial statements contained in
our registration statement on form 20-F and the Annual Report.


Introduction on FAS 133

In June 1998, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards No. 133, Accounting for Derivative Instruments
and Hedging Activities, which is required to be adopted in years beginning after
June 15, 2000. The Company has adopted the new Statement with effect from
January 1, 2001. The Statement requires us to recognize all derivatives on the
balance sheet at fair value. Derivatives that are not hedges must be adjusted to
fair value through income. If the derivative is a hedge, depending on the nature
of the hedge, changes in the fair value of derivatives will either be offset
against the change in fair value of the hedged assets, liabilities, or firm
commitments through earnings or recognized in other comprehensive income until
the hedged item is recognized in earnings. Based on the Company's derivative
positions at December 31, 2000, the Company has upon adoption at January 1st,
2001 recorded a loss from the cumulative effect of an accounting change of $63
million in the consolidated income statement and a reduction of $41 million in
other comprehensive income.

 

Note 3  Statement of Consolidated Common Stockholders' Equity 
(Dollars in millions)

Balance at January 1, 2001                                      $     5,171
Comprehensive income:          
Net income                                         138     
Foreign currency translation adjustments          (111)     
Unrealized loss on available-for-sale securities   (51)     
Change in accounting principles (FAS 133)
 as per January 1, 2001                            (41)     
FAS 133 effect on Q1 2001                         (122)     
Total comprehensive income                        (187)                (187)
Dividends paid                                                         (502)
Treasury stock transactions                                            (579)
Balance at March 31, 2001                                       $     3,903

Note 4  Segment and Geographic Data
For all periods presented, the Company was organized into the following business
segments: 
Automation: Offers products, solutions and services focused on improving quality
and efficiency as well as reducing environmental impacts in industrial and
utility plants. The Company provides knowledge-based, value-added solutions for
the automation needs of customers in these industries.
 
Power Transmission: Provides electrical power transmission products, solutions
and services. The Company's customers are mainly electrical utilities, owners
and operators of power transmission systems and energy traders, who deliver
high-voltage electricity from power plants to the distribution networks
providing electrical power to end users.
 
Power Distribution: Provides a broad offering of products, solutions and
services, including transformers, substations and circuit breakers, to power
network management services, for the distribution of electricity from the
transmission grid to the end consumer. The Company's principal customers are
utilities that own or operate networks, commercial institutions, such as
airports, hospitals and supermarkets and industrial customers, such as chemical,
automotive and pulp and paper companies.
 
Building Technologies: Provides a wide range of products and comprehensive
service and maintenance solutions for industrial, commercial and public
facilities, including low-voltage products, such as switches, fuses, air
handling and lighting systems, as well as programmable facility management
systems that can automatically operate building systems.
 
Oil, Gas and Petrochemicals: Provides technologies to customers in the upstream
exploration and production of oil and gas, and downstream refining and
petrochemical processing.
 
Financial Services: Offers a wide range of financing, sales support, risk
management services and insurance both within the Company and to third-parties.
 
The Company evaluates performance based on earnings before interest and taxes
(EBIT), which excludes interest income and expense, taxes, minority interests,
the results from discontinued operations and other items. 


Segment data

Data per Business Segment
(US$ in millions)    Orders received                  Revenues
                     January - March               January - March


                    2001           2000           2001           2000
Automation          $  2,148       $  2,134       $  1,765       $  1,742
Power Transmission     1,132          1,013            699            751
Power Distribution       703            922            605            650
Building Technologies  1,734          1,824          1,413          1,390
Oil, Gas and 
Petrochemicals           961          1,117            754            529
Financial Services       479            453            479            453
Corporate/Other         (371)          (322)          (335)          (256)
Total              $    6,786      $  7,141        $ 5,380       $  5,259

Data per Business 
Segment
(US$ in millions) EBIT (operating income)       Depreciation and amortization
                     January - March                   January - March
                  2001             2000         2001             2000
Automation          $     113      $     95        $     71      $     69
Power Transmission         60            55              23            24
Power Distribution         30            35              15            16
Building Technologies      90            95              29            33
Oil, Gas and 
Petrochemicals             41            30              17            15
Financial Services         84            84               6             7
Corporate/Other           (84)          (79)             29            35

Total               $     334      $    315        $    190       $   199

Geographic Information

Data per Region
(US$ in millions)     Orders received                   Revenues
                      January - March                  January - March


                   2001             2000               2001          2000
Europe             $     3,699     $  3,598         $  2,940      $  2,904
The Americas             1,828        1,966            1,400         1,329
Asia                       685          646              564           608
Middle East and Africa     574          931              476           418
Total              $     6,786     $  7,141         $  5,380      $  5,259

Orders received and revenues have been reflected in the regions based on the
location of the customer.