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ABB Ltd (0NFZ)

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Wednesday 26 January, 2011

ABB Ltd

Trading Statement

RNS Number : 0959A
ABB Ltd
26 January 2011
 



 

ABB provides Q4 trading update

Zurich, Switzerland, January 26, 2011 - ABB today published a trading update related to its fourth-quarter results which are scheduled to be announced on February 17.

Trading conditions in the quarter were in line with trends seen in the third quarter. High levels of industrial activity in most regions supported ABB's short- and mid-cycle businesses in both the automation and power sectors. In addition, the company won a large number of power infrastructure orders in Europe and the Middle East during the fourth quarter.

On that basis, the company expects to report double-digit growth in orders (in local currencies) compared to the same quarter a year earlier, as well as a double-digit increase in earnings before interest and taxes (EBIT as reported) and net income. The company also expects to report single-digit local-currency revenue growth. Included in fourth-quarter 2010 reported EBIT will be charges of approximately $120 million in the Power Systems division, most of which are related to a cable project that was the subject of previously-announced provisions.

For 2011 the company reiterated its outlook that continued industrial growth is expected to support its short- and mid-cycle businesses in power and automation. ABB also expects a broad recovery in utility investments for power transmission equipment later in 2011.

ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 117,000 people.

 

 

Important notice about forward-looking information 

This press release contains "forward-looking statements," including statements regarding ABB's expectations.  Such forward-looking statements are based on current expectations and are subject to inherent risks and uncertainties, including events and factors that could delay or change any of them or could cause actual outcomes and results to differ materially from current expectations and such statements. No forward-looking statement can be guaranteed. Forward-looking statements in the press release should be evaluated together with the many uncertainties that affect ABB's business, particularly those identified in the cautionary factors discussion in ABB's Annual Report on Form 20-F for the year ended Dec. 31, 2009. ABB undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

 

 

For more information please contact:

 

ABB Media Relations:                                                                                                        ABB Investor Relations

Thomas Schmidt                                                                                                                 Switzerland: Tel. +41 43 317 7111

(Zurich, Switzerland)                                                                                                           USA: Tel. +1 203 750 7743 

Tel: +41 43 317 6568                                                                                                         [email protected]

[email protected]

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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