ABB: Q3 2021 results: Strong demand, supply chain constraints impacting revenues
Ad hoc Announcement pursuant to Art. 53 Listing Rules of SIX Swiss Exchange
ZURICH, SWITZERLAND, October 21, 2021- Orders $7.9 billion, +29%; comparable1 +26%
- Revenues $7.0 billion, +7%; comparable +4%
- Income from operations $852 million; margin 12.1%
- Operational EBITA1 $1,062 million; margin1 15.1%
- Basic EPS $0.33; -85%2
- Cash flow from operating activities was $1,104 million and from operating activities in continuing operations it was $1,119 million
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KEY FIGURES
CHANGE CHANGE
($ millions, Q3 Q3 US$ Comparable[1] 9M 9M US$ Comparable[1]
unless 2021 2020 2021 2020
otherwise
indicated)
Orders 7,866 6,109 29% 26% 23,611 19,509 21% 16%
Revenues 7,028 6,582 7% 4% 21,378 18,952 13% 8%
Gross Profit 2,294 1,834 25% 7,070 5,731 23%
as % of 32.6% 27.9% +4.7 33.1% 30.2% +2.9
revenues pts pts
Income from 852 71 n.a. 2,743 1,015 170%
operations
Operational 1,062 787 35% 32%[ 3 ] 3,134 2,074 51% 43%[ 3 ]
EBITA[1]
as % of 15.1% 12.0% +3.1 14.6% 10.9% +3.7
operational pts pts
revenues[1]
Income (loss) 687 (503) n.a. 2,027 218 830%
from
continuing
operations,
net of tax
Net income 652 4,530 -86% 1,906 5,225 -64%
attributable
to ABB
Basic 0.33 2.14 -85%[2] 0.95 2.45 -61%[2]
earnings per
share ($)
Cash flow 1,104 408 171% 2,310 511 352%
from
operating
activities[4]
Cash flow 1,119 398 181% 2,305 650 255%
from
operating
activities in
continuing
operations
1 For a reconciliation of non
-GAAP measures, see
"supplemental
reconciliations and
definitions" in the attached
Q3 2021 Financial
Information.
2 EPS growth rates are
computed using unrounded
amounts.
3 Constant currency (not
adjusted for portfolio
changes).
4 Amount represents total for
both continuing and
discontinued operations.
"In the face of a difficult supply chain environment, I am pleased that we achieved a good margin this quarter. Our cash generation was very strong, leaving ample headroom on our balance sheet to support both organic growth and acquisitions as well as rewarding shareholders."
Björn Rosengren, CEO