Q4 2022 results: Strong performance improvements in Q4 and long-term margin target achieved early
February 02, 2023 at 12:48 am EST
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Ad hoc Announcement pursuant to Art. 53 Listing Rules of SIX Swiss Exchange
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
Media Relations phone: +41 43 317 7111 e-mail: media.relations@ch.abb.com
ABB Ltd is one of the world's leaders in the design, production and marketing of industrial equipment. Net sales break down by family of products and services as follows:
- electrical transmission and distribution products and systems (67.2%): transformers, medium-voltage electrical distribution systems (circuit breakers, switches, fuses, transducers, etc.), high-voltage electrical distribution systems (condensers, switches, etc.), and automated systems for use in electrical plants. ABB Ltd also offers turnkey installation services for transmission systems;
- automation systems (30.6%): electrical protection systems and instruments for measuring and controlling fluids, production process control systems (primarily for the oil and gas, chemical and pharmaceutical, marine, mining, and paper industries). The group also manufactures and markets robots and modular systems;
- other (2.2%).
Net sales are distributed geographically as follows: Europe (35.9%), China (13.9%), Asia/Middle East/Africa (15.8%), the United States (25.6%) and Americas (8.8%).
ABB LTD 
