The development of ABB's corporate financial state

The development of ABB's corporate financial statements in 2017

abb is a leading manufacturer in the field of power and automation technology, ranking among the world's top 500 enterprises. ABB group was formed by the merger of ASEA company in Sweden and BBC Brown Boveri company in Switzerland in 1988. It is an electrical engineering group with businesses all over the world. Abb is a leading company in the field of power and automation technology. As a leading manufacturer in the field of power and automation technology, abb is ranked among the top 500 enterprises in the world. ABB group was formed by the merger of ASEA company in Sweden and BBC Brown Boveri company in Switzerland in 1988. It is an electrical engineering group with businesses all over the world. Abb is a leading company in the field of power and automation technology. It is committed to providing solutions for customers in the industrial and power industries to help customers improve their performance and reduce the adverse impact on the environment

on February 9, abb released its 2017 performance report, which showed that in the fourth quarter of last year, the company's net profit was $390million, a year-on-year decrease of 8%. Reuters said the figure was lower than the average analyst forecast of $420million. Due to the significant decline in large orders of electricity and industrial automation businesses, ABB's orders in the last three months of last year fell by 3% year-on-year to US $8.47 billion. In the whole year of last year, ABB's sales revenue increased by 1% year-on-year to US $34.31 billion, of which the growth of electrical products, robots and motion control business offset the decline of electricity and industrial automation business revenue; The net profit was $2.21 billion, an increase of 17% year-on-year

abb first made its fortune in power equipment manufacturing, and then its former CEO Pahlavi began almost crazy mergers and acquisitions during his tenure. According to incomplete statistics, it has carried out more than 150 large and small mergers and acquisitions, involving more than 10 completely different fields and covering more than 100 countries. In 2017, ABB's major actions continued to attract widespread attention in the industry. Let's review the development of ABB in 2017:

ABB officially acquired br automation to expand the industrial line of electrical measuring instruments

on April 4, 2017, Zurich, Switzerland, reported that abb and Br company station jointly issued an important announcement, ABB today officially acquired BR, the world's largest independent provider of open architecture solutions based on machine and factory automation products and software. B r will become ABB's machine and factory automation department. BR is an innovative leader in the fields of programmable logic controllers (PLC), industrial computers (IPC) and motion based servo machines and factory automation. Founded in 1979 by Er stable win bernecker and Josef Rainer, it is headquartered in eggelsberg, Austria, with more than 3000 employees, including about 1000 R & D and application engineers. Its business covers 70 countries. In the $20billion machine and factory automation market, its sales in 2015/16 exceeded $600million

through the acquisition, abb will expand its leading position in the field of industrial automation and seize the growth opportunity of the fourth industrial revolution. In addition, abb has taken an important step in expanding its digital products through br's powerful application and software platform, huge installation foundation, customer access and customized automation solutions, combined with ABB's industry-leading digital solutions

ABB measurement and analysis business unit signed strategic cooperation agreements with two Zhejiang enterprises

ABB Switzerland is a groundbreaking technical leader in electrification products, robotics and motion control, industrial automation and electricity, serving global customers in utilities, industry and global transportation and infrastructure. Recently, the 2017 ABB power and automation world event was grandly held by the Qiantang River in Zhejiang Province. In this ABB Group's largest and highest level customer event in Asia, Africa and Oceania, ABB's measurement and analysis business unit signed strategic cooperation agreements with two well-known Zhejiang Enterprises - Hangzhou Wahaha Group Precision Machinery Co., Ltd. and Zhejiang Real Madrid Technology Co., Ltd., laying a foundation for deeper cooperation between the two sides in the future

based on the development strategies and objectives of the two enterprises in their respective business areas, abb will provide them with more comprehensive technical support and services to achieve strategic win-win results. The representatives of both parties attending the signing ceremony included Gareth Dean, head of global market and sales of ABB measurement and analysis business unit, pan Ying, head of measurement and analysis business unit in North Asia and local business unit in China, Lou Xiangming, executive vice president of Wahaha Electromechanical Research Institute of Hangzhou Wahaha Group, and Lin Yaogen, manager of procurement department of Real Madrid Technology Co., Ltd. in Zhejiang, who has the advantages of simple process, no rubber odor and easy color matching. ABB's measurement and sub-processing products are sent to digital display meters or computer analysis products, and a three-year strategic cooperation agreement has been signed with these two industry heavyweight customers, involving market strategy, technical communication, product training and other business interactions

Swiss industrial group abb2.6 billion U.S. dollars to acquire GE's industrial systems business

on September 25, abb announced that it would acquire GE's global electrification solutions business - Ge industrial solutions for $2.6 billion. Ge industrial solutions has deep customer relationships in more than 100 countries and has a great installation foundation in ABB's largest market, North America

ge industrial solutions business is headquartered in Atlanta, Georgia, USA, with about 13500 employees worldwide. In 2016, its sales revenue was about $2.7 billion, its operating EBITDA margin was about 8%, and its operating EBITDA margin was about 6%. ABB will acquire the business for us $2.6 billion, and the transaction is expected to achieve operating income growth in the first year. ABB plans to create cost synergies of $200million per year from the fifth year, which is crucial for the business to achieve industry-level performance. As part of this transaction and overall value creation, abb will establish a long-term strategic supplier relationship with Ge to provide Ge industrial systems and ABB products it is purchasing

China ENFI signed a strategic cooperation agreement with ABB Group Shanghai company to deepen cooperation

on September 21, China ENFI signed a strategic cooperation agreement with ABB Group Shanghai company (hereinafter referred to as "ABB Shanghai"). Christer, senior vice president of ABB group, thanked ENFI China for its warm reception, and introduced the development direction of ABB Group in the mining field, especially its products in unmanned mines and digital mines. Through the mobile collection of data, and then to the analysis and diagnosis of the cloud, it can significantly reduce the production and operation costs for investors. Wei Jiaming also introduced the company's exploration and achievements in this field, including the establishment of China's first mining Collaborative Innovation Center in cooperation with Tianjin Supercomputing Center. The two sides expressed the hope to carry out more in-depth cooperation in the field of digital mining in the future

this signing means that ABB group and ENFI will give full play to their advantages, complement each other, improve their competitiveness, jointly develop various non coal mining and non-ferrous metallurgical projects around the world, and expand the the Belt and Road EPC business. Ten ABB group managers including Mr. Christer skogum, senior vice president of ABB group, Mr. Max luedtke and Mr. Oswald Deuchar, vice president of ABB Switzerland, Mr. Mike Davis, regional product manager of ABB South Africa, and Mr. Zhu Jihao, general manager of ABB China Regional Mining Department attended the signing ceremony

in the past four quarters, ABB's basic demand growth may become weaker in the last few months of this year, and the basic orders have maintained growth, with a year-on-year increase of 5%, partially offsetting the impact of the decline in large orders. The performance in the fourth quarter of last year was lower than expected, but ABB still expressed optimism about the market trend this year. It is believed that with the continuous efforts of the enterprise, ABB's performance this year will be remarkable