ABB Reports Record Revenues & Higher Earnings

ABB reported record full-year revenues and higher operational Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA), net income and free cash flow despite a challenging market environment. According to the company press release, the firm's board of directors has proposed a 2013 dividend increase to 0.70 CHF (Swiss Francs) per share.

The company reported $41.85 billion in revenues for 2013, an increase from $39.34 billion in 2012. ABB's operational EBITDA for 2013 was $1.42 billion compared to $1.37 billion in 2012.

According to ABB, early-cycle demand continued to trend positively in the second half of 2013 but some large project awards were delayed, leading to a lower order backlog at the end of the year. Orders also declined due to the effects of increased order selectivity in the firm's power systems division.

-tk-

Article source tED Magazine - voice for the top distributors in North America
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