ABB Achieves Record 2011 Profits: Net Income +24% and $40B in Orders
2011 proved to be a wildly successful year for ABB. ABB’s net income was up by 24% in 2011. Their orders rose 17% with revenues up 16%. The full-year orders hit $40 billion for the first time.
The increase in profitability in the fourth quarter of 2011 was due to strong revenue growth combined with cost savings. The measure of profitability tracked by management rose 18% from that time the year before.
The surge in orders could be due to the increasing demand for low-loss power transmission systems as well as demand from industrial customers for high-efficiency equipment that reduces operating costs.
In 2012, the net profit shrunk by 15%. ABB blames a tough market and insists it held its ground. Their number of orders remained relatively stable.
Consistency is key to ABB, and it proved it can deliver consistent results since sales still grew by 4% in 2012. Also consistent is the growing electricity consumption, industrialization in emerging markets, and the need to increase energy and efficiency.
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