ABB Reports Solid Demand and Record-High Operational EBITA Margin

ABB Ltd announced its half-year results for 2024, highlighting solid demand and a record Operational EBITA margin. The company's orders totaled $8,435 million, a 3% decrease from the previous year, while revenues reached $8,239 million, a 1% increase.

Income from operations was $1,376 million, with a margin of 16.7%. The Operational EBITA was $1,564 million, resulting in a margin of 19.0%. Basic earnings per share increased by 22% to $0.59. Cash flow from operating activities saw a substantial growth, rising 40% to $1,067 million.

CEO Björn Rosengren expressed confidence in ABB's long-term shareholder value as Morten Wierod prepares to take over as CEO. Rosengren noted improvements in the Electrification and Process Automation segments but acknowledged weaknesses in Machine Automation and E-mobility. He emphasized the company's commitment to sustainability, with significant goals for reducing emissions by 2030 and 2050.

Overall, ABB showcased a robust financial performance in the first half of 2024, setting the stage for continued growth and innovation.