Solid operational results in a demanding market – ABB

  • Record revenues, EBIT and cash from operations for the full year 2008
  • Q4 EBIT and net income substantially lower on previously announced provisions
  • Q4 orders down mainly on fewer large projects
  • Cost take-out program to achieve $1.3 billion in savings by 2010
  • Board proposes an unchanged dividend of CHF 0.48 per share

Zurich, Switzerland, February 12, 2009 – ABB reported solid operational results in the fourth quarter on strong revenue growth and steady cash flow, despite a difficult global market that impacted orders. Earnings before interest and taxes (EBIT) and net income in the quarter were reduced by previously-announced provisions, but full-year EBIT nevertheless reached a record $4.6 billion…more at ABB