ABB: order intake and sales above expectations

Over the financial year 2021, the turnover of ABB, a group specializing in electrification and robotics, increased by 11% to USD 28.9 billion. New orders for their part increased by 20% to USD 31.9 billion. That said, supply chains issues that emerged in late 2021 in the wake of the strong global economic recovery have also affected ABB. The shortage of semiconductors is a major problem for the group and the CEO expects the bottlenecks to persist in the coming months. However, the situation should ease over the course of the year, which encourages management to confirm its operating margin (EBITDA) objectives of at least 15% from 2023, as well as revenue growth of 4 to 7% excluding currency effects, over the economic cycle. Finally, the group wants to continue its share buyback program.