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ABB Ltd, a Swedish-Swiss multinational corporation headquartered in Zürich, Switzerland, was formed in 1988 through the merger of Sweden's Allmänna Svenska Elektriska Aktiebolaget and Switzerland's Brown, Boveri & Cie, now known simply as ABB. The company is a global technology leader in electrification and automation, striving to create a more productive and sustainable future. ABB operates in over 100 countries and employs approximately 105,000 people.
ABB’s operations span four major business areas: Electrification, Process Automation, Motion, and Robotics & Discrete Automation. Through these divisions, ABB offers a wide range of products and solutions, including electric vehicle infrastructure, robotics, automation systems, and energy management solutions. ABB is committed to pushing the boundaries of technology to drive performance to new levels, leveraging its software capabilities to enhance its electrification, robotics, and automation portfolios.
Recent achievements highlight ABB’s robust growth and innovation strategies. In 2022, ABB reported strong demand and operational performance with orders amounting to $8.8 billion, marking a 10% increase, and revenues of $7.3 billion. The company's operational EBITA stood at $1,136 million with a margin of 15.5%. ABB has announced expansions and investments across its operations, including a $20 million investment to expand its robotics headquarters in Michigan and a $40 million investment to open a new manufacturing facility in Albuquerque, New Mexico to meet increased demand for grid resilience solutions.
ABB has also underscored its commitment to sustainability by reducing its own greenhouse gas emissions by 65% since 2019 and working towards a low-carbon society. The company continues to innovate in energy efficiency, evident in its collaboration with Lumin to enhance home energy management solutions. Through strategic initiatives, ABB aims to support industry decarbonization and improve energy efficiency, solidifying its leadership in the transition to a sustainable energy future.
ABB’s stock is publicly traded on the SIX Swiss Exchange under the symbol ABBN. The company continues to focus on expanding its market presence and driving growth through innovation, strategic partnerships, and a commitment to sustainability.
ABB E-mobility outlines its robust growth strategy during the virtual Capital Markets Day held on February 10, 2022. The division reported a 60% CAGR from 2017-2021, with a targeted revenue growth of 40-45% for FY2022, building on $323 million revenues in 2021. Key initiatives include significant investments totaling $750 million for M&A and organic growth. Operational EBITDA margin is expected to improve to 15-20% mid-term. Michael Halbherr has been appointed Chairman as ABB aims to transition to software-driven solutions in the EV charging market.
ABB has partnered with PACCAR to provide advanced EV charging solutions for medium- and heavy-duty trucks across North America and Europe. This collaboration aims to enhance sustainability and efficiency for PACCAR's extensive dealer network of 2,265 locations globally. ABB's charging technology will support on-demand fast charging for various truck models, addressing the significant greenhouse gas emissions from the transportation sector. With a commitment to sustainability, both companies are focusing on reducing carbon emissions while promoting electric vehicle adoption.
ABB reported a strong performance for Q4 2021, with orders at
ABB has acquired a controlling stake in InCharge Energy, enhancing its EV charging infrastructure capabilities in North America. This transaction increases ABB's share in InCharge to approximately 60%, building on their initial 10% stake from a Series A investment in 2020. The acquisition aims to expand ABB’s E-mobility Division, enabling it to offer comprehensive charging solutions for various commercial fleets, thereby capitalizing on significant growth opportunities in the U.S. EV market.
ABB hosted a virtual roundtable discussing its energy efficiency movement, emphasizing the integration of high-efficiency technologies into industrial infrastructure. Key speakers included experts from the Lawrence Berkeley National Laboratory and ABB leadership. The event highlighted that U.S. businesses could drastically reduce electricity consumption and combat climate change by adopting new technologies. Investments are expected to yield returns within two years while contributing to environmental sustainability.
ABB has updated its financial targets during the Capital Markets Day, lifting revenue growth expectations to 4-7% through the economic cycle, with an operational EBITA margin target set at at least 15% beginning in 2023. CEO Björn Rosengren noted robust demand despite supply chain challenges. The company aims to enhance its sustainable transport offerings, which currently account for approximately 10% of group order intake. ABB plans continued acquisitions, leveraging strong cash flow generation while implementing an ABB Circularity Framework as part of its 2030 Sustainability Strategy.
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