ABB Achieve Sustained Growth in Q3
ABB, a provider of robotic and automated solutions, has announced its third quarter results, which demonstrate “sustained growth” according to CEO Ulrich Speisshofer.
Total orders for the company have increased by 9% in 2018 across all divisions and regions, when compared to January-September 2017.
The results also show a 7% increase in base orders valued below USD $15 million, which has been attributed to the support of ABB’s digital service ABB Ability.
In addition to this, ABB has reported “robust demand” from all regions in Q3, with total orders increasing by 15% from Europe, 9% from the Americas, and 4% from Asia, Middle East and Africa (AMEA).
The industrial automation and robotics sectors grew by 7% and 15% respectively during the quarter.
Speisshofer commented: “The continued execution of our strategy and steadily growing customer demand for our ABB Ability™ digital offering is driving order growth and increased revenues.
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“Our pioneering technology leadership is delivering solid results across all businesses, particularly in Robotics and Motion and Industrial Automation.”
A statement by ABB has also projected that the overall global market is growing, with oil prices and foreign exchange translation effects expected to influence the company’s results in the future.