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ABB: Q4 2022 results: Strong performance improvements in Q4 and long-term margin target achieved early Donnerstag, 02. Februar 2023 - 06:51

ZURICH, SWITZERLAND, FEBRUARY 2, 2023

Q4 2022 results

Strong performance improvements in Q4 and long-term margin target achieved early

 

Q4 2022

·   Orders $7.6 billion, -8%; comparable1 +2%

·   Revenues $7.8 billion, +3%; comparable +16%

·   Income from operations $1,185 million; margin 15.1%

·   Operational EBITA1 $1,146 million; margin1 14.8%

·   Basic EPS $0.61

·   Cash flow from operating activities was $687 million and from operating activities in continuing operations it was $720 million, including adverse impact of approximately $315 million due to earlier announced settlements for Kusile project.

 

FY 2022

·   Orders $34.0 billion, +7%; comparable1 +16%

·   Revenues $29.4 billion, +2%; comparable +12%

·   Income from operations $3,337 million; margin 11.3%

·   Operational EBITA1 $4,510 million; margin1 15.3%

·   Basic EPS $1.30

·   Cash flow from operating activities was $1,287 million and from operating activities in continuing operations it was $1,334 million

 

KEY FIGURES

 

 

 

 

 

 

 

 

 

 

 

CHANGE

 

 

CHANGE

($ millions, unless otherwise indicated)

Q4 2022

Q4 2021

US$

Comparable1

FY 2022

FY 2021

US$

Comparable1

Orders

7,620

8,257

-8%

2%

33,988

31,868

7%

16%

Revenues

7,824

7,567

3%

16%

29,446

28,945

2%

12%

Gross Profit

2,658

2,397

11%

 

9,710

9,467

3%

 

as % of revenues

34.0%

31.7%

+2.3 pts

 

33.0%

32.7%

+0.3 pts

 

Income from operations

1,185

2,975

-60%

 

3,337

5,718

-42%

 

Operational EBITA1

1,146

988

16%

28% 3

4,510

4,122

9%

18% 3

as % of operational revenues1

14.8%

13.1%

+1.7 pts

 

15.3%

14.2%

+1.1 pts

 

Income from continuing operations, net of tax

1,168

2,703

-57%

 

2,637

4,730

-44%

 

Net income attributable to ABB

1,132

2,640

-57%

 

2,475

4,546

-46%

 

Basic earnings per share ($)

0.61

1.34

-55%2

 

1.30

2.27

-43%2

 

Cash flow from operating activities4

687

1,020

-33%

 

1,287

3,330

-61%

 

Cash flow from operating activities in continuing operations

720

1,033

-30%

 

1,334

3,338

-60%

 

 

 

 

 

 

 

 

 

 

 

1

For a reconciliation of non-GAAP measures, see "supplemental reconciliations and definitions" in the attached Q4 2022 Financial Information.

2

EPS growth rates are computed using unrounded amounts. 2021 numbers include the impact related to the divestment of Mechanical Power Transmission.

3

Constant currency (not adjusted for portfolio changes).

4

Amount represents total for both continuing and discontinued operations.

 

"2022 was another successful year for ABB, including a further streamlining of our business portfolio and achieving our margin target earlier than expected. We have made ABB more resilient. In 2023, regardless of current market uncertainty, we want to show that we can continuously deliver an Operational EBITA margin of at least 15%."

Björn Rosengren, CEO

 

To download the full press release in pdf click here

To download the financial information in pdf click here

To download the financial information in xls format click here