ABB India : announces Q2 results

Bengaluru, July 23, 2014 - ABB India Limited, reported results for the second quarter ended June 30, 2014.

Key figures*:

Rupees in crores

	Q2 2014	Q2 2013	H1 2014	H1 2013
Orders	2,019	1,749	4,001	3,288
Revenues	1,794	1,730	3,604	3,694
Profit before tax	73	60	150	124
Profit before tax %	4.1	3.5	4.2	3.4
Profit after tax	48	40	99	83
Profit after tax %	2.7	2.3	2.8	2.2
Operational EBITDA*	133	112	271	241
Operational EBITDA%	7.4	6.5	7.5	6.5

* Operational EBITDA: Earnings before interest and taxes (EBIT) excluding depreciation and amortization, adjusted for i) unrealized gains and losses on derivatives (FX, commodities, embedded derivatives), ii) realized gains and losses on derivatives where the underlying hedged transaction has not yet been realized, iii) unrealized foreign exchange movements on receivables/payables (and related assets/liabilities), iv) restructuring and restructuring-related expenses, and v) acquisition-related expenses and certain non-operational items.

Orders
The company received orders worth Rs.2,019 crores during the quarter ended June 30, 2014, compared to an order intake of Rs. 1,749 crores for the same period last year. Focus on short cycle orders have been supported by increase in large orders. Exports continued to grow at a faster pace while emerging business streams also supported the growth momentum.

Order backlog
The company's order backlog stood at Rs. 8,083 crores at the end of the quarter as compared to Rs.8,260 crores for the corresponding period in 2013. The order backlog position of the company has been steadily increasing over the last six months providing revenue visibility.

Revenue and operations
The revenue for the second quarter ended June 30, 2014 was Rs.1,794 crores compared to Rs.1,730 crores for the corresponding period in 2013. Revenues during the quarter remained stable with encouraging growth mainly from short cycle business. The company maintains its policy of cash over revenue.

Profit
The company posted a profit before tax (PBT) of Rs. 73 crores against Rs. 60 crores in the corresponding quarter last year. Profit after tax (PAT) for the quarter was Rs. 48 crores compared to Rs.40 crores in the previous year quarter. Growth in profits was primarily led by high focus on continuous localization, cost optimization and striking the right balance of risks and returns.

"Another quarter led by a healthy contribution from base and large orders in a challenging business environment. At a time when market sentiments are positive, our intensified efforts ensured greater coverage, innovation and expanded scope of offerings to our customers," said Bazmi Husain, Managing Director, ABB India Limited. "ABB is well positioned to continue on a growth trajectory in line with the market."

ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 150,000 people.

For more information please contact:

Corporate Communications, ABB India Limited:

Sohini Mookherjea Tel: + 91 80 22949123 Fax :+ 91 80 22949148 email : sohini.mookherjea@in.abb.com

Sanaj Natarajan Tel: + 91 80 22949195 Fax :+ 91 80 22949148 email : sanaj.natarajan@in.abb.com