Strong COVID-19 headwinds; Power Grids divestment completed
· Orders
· Revenues
· Income from operations
· Operational EBITA1
· Net income
· Basic EPS
· Cash flow from operating activities
· Power Grids divestment completed
· Net cash proceeds to be returned to shareholders, as planned
"As expected, the second quarter has been heavily impacted by COVID-19. At the same time, we were very focused on cost mitigation efforts which provided some resilience. Operational margins for the Group turned out better than we had anticipated, with Motion doing particularly well," said
[1] For a reconciliation of non-GAAP measures, see "supplemental reconciliations and definitions" in the attached Q2 2020 Financial Information.
[2] The result benefited mainly from the absence of the charge booked in 2019 in relation to the sale of the solar inverters business.
[3] EPS growth rates are computed using unrounded amounts. Comparable operational earnings per share is in constant currency (2019 exchange rates not adjusted for changes in the business portfolio).
Media Relations
phone: +41 43 317 7111
e-mail: media.relations@ch.abb.com
Investor Relations
phone: +41 43 317 7111
e-mail: investor.relations@ch.abb.com
Affolternstrasse 44
8050
For further information, please refer to www.abb.com/news
http://publish.ne.cision.com//Release/ViewReleaseHtml/C5F437B3600B0BEDE0C856B0705FC7D6
https://mb.cision.com/Main/417/3158197/1282413.pdf
(c) 2020 Cision. All rights reserved., source