ABB: after 'Motion', 'Process' prospects are attractive
(CercleFinance.com) - After holding an investor meeting yesterday dedicated to its "Motion" business (electric motors and generators), today ABB is holding a conference in Helsinki dedicated to its instrument and automation business, called "Process".
As with "Motion", the Swiss engineering group expects the profitability of "Process" to improve over the long term, thanks to the current energy transition.
The segment is also benefiting from the digital boom, it argues, with nearly 500 million dollars in orders for its industrial software and digital services, a double-digit growth rate that it believes will continue.
ABB points out that it is in the process of divesting its turbocharger business for ships and power plants, which is currently part of the "Process" business.
Without this business, the ABB Process business would have been worth 5.5 billion dollars in 2021, with an operating margin of 11.1%.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
As with "Motion", the Swiss engineering group expects the profitability of "Process" to improve over the long term, thanks to the current energy transition.
The segment is also benefiting from the digital boom, it argues, with nearly 500 million dollars in orders for its industrial software and digital services, a double-digit growth rate that it believes will continue.
ABB points out that it is in the process of divesting its turbocharger business for ships and power plants, which is currently part of the "Process" business.
Without this business, the ABB Process business would have been worth 5.5 billion dollars in 2021, with an operating margin of 11.1%.
Copyright (c) 2022 CercleFinance.com. All rights reserved.