Zurich, Switzerland, February 8, 2017, ABB's 2016 financial report shows that the company's revenue fell 5% last year to $33.83 billion, while net profit increased by 2% to $1.96 billion.
Mr. Shi Bifu, CEO of ABB Group, said: “In 2016, we have made remarkable progress, and ABB has transformed into a leader in digital technology that is more focused on user needs and streamlined and efficient. ABB will continue to focus on productivity improvement and cost control. To achieve profit growth."
Highlights of the fourth quarter:
3% of growth comes from large orders, with 9% growth coming from the US and China, with a 1% increase in revenue.
Power grid growth momentum is strong, orders rose by 15%, revenue reached 4%
Operating profit before interest and tax amortization reached 10.4%
Highlights of 2016:
ABB's pre-tax profit margin increased by 50 basis points to 12.4%, and operating income per share rose from 2% to 4%.
Overall, ABB's electrical products and power grids have higher revenues. Total service and software revenue increased by 2%, accounting for 18.5% of total revenue, up 0.5% year-on-year.
ABB also revealed the next phase of the plan: to shape ABB's four market-oriented divisions; to realize the full value of the "ABB Ability" digital solution; to uphold the development concept of operational excellence; to strengthen ABB's brand marketing.
Four major markets drive growth
ABB's four business divisions: Electrical Products, Robotics and Motion Control, Industrial Automation
The Power Grid Division has been fully operational on January 1, 2017.
Strengthening ABB's global brand building is also the main direction of the future. In the future, ABB will focus on strengthening the company's brand building on a global scale, unifying the brand to fully exploit the value potential of its digital solutions, aiming to improve customer loyalty and increase price loyalty by increasing brand recognition. Positive impact, and win-win with customers, shareholders, employees and other stakeholders.
Mr. Shi Bifu said that 2017 is a transitional year. The fourth industrial revolution has strong driving force and growth demand. ABB will make good use of these opportunities, with its strong market position and long-term profit growth capability. Geographical and business scope, advanced technical leadership and stable financial strength to ensure the company's development in 2017, to achieve its new brand promise: "work together, create a better future."
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