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ABB LTD (ABB)

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ABB Wins $35 Million Order For Icebreaker in Russia's Arctic

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10/01/2012 | 11:25am CEST

ZURICH--ABB Ltd (ABBN.VX) Monday said it won an order worth $35 million from the Baltic Shipyard Ltd. to supply powerful propulsion and energy efficient electrical systems for a new icebreaker vessel under construction for Russia's state shipping company Rosmorport.

MAIN FACTS:

- The order was booked in the third quarter of 2012.

- The 25 megawatt line diesel-electric icebreaker is the next-generation multifunctional diesel-electric icebreaker.

- The navigation area of the icebreaker is the Northern Sea Route, the Arctic seas and estuaries of rivers discharging into the Arctic Ocean.

- The icebreaker is able to proceed continuously both ahead and astern at the speed of 2 knots in compact ice field up to 2 metres thick with 20cm of snow cover and temperatures as low as minus 35 degrees Celsius.

- Considerable gains in energy efficiency can be achieved using an Azipod® propulsion system, with up to 20 percent fuel reduction.

- The delivery schedule is due to start in 2013 and the vessel will be delivered to Rosmorport in 2015.

-Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47; [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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Financials ($)
Sales 2017 33 815 M
EBIT 2017 3 965 M
Net income 2017 2 510 M
Debt 2017 1 479 M
Yield 2017 3,09%
P/E ratio 2017 21,55
P/E ratio 2018 19,27
EV / Sales 2017 1,70x
EV / Sales 2018 1,62x
Capitalization 55 984 M
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Average target price 23,8 $
Spread / Average Target -6,1%
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NameTitle
Ulrich Spiesshofer President & Chief Executive Officer
Peter R. Voser Chairman
Timo Ihamuotila Chief Financial Officer
Andy Tidd Head-Information Systems
Bazmi Rizwan Husain Chief Technology Officer
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