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Search resuls for: "Bjorn Rosengren"


14 mentions found


☆ ABB CEO: Desire for sustainability and divisional growth driving strong performance
  + stars: | 2023-11-30 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailABB CEO: Desire for sustainability and divisional growth driving strong performanceBjörn Rosengren, CEO at ABB, discusses the company's Capital Markets Day, his outlook for the Chinese economy, and how ABB is achieving its ambitious margin targets.
Persons: Rosengren Organizations: ABB
☆ Engineering Group ABB unveils higher sales and profitability targets
  + stars: | 2023-11-30 | by ( ) www.reuters.com   time to read: +2 min
The logo of ABB is seen at an office building in Zurich, Switzerland September 10, 2020. The goals, announced ahead of ABB's investor day in Italy, were an upgrade from the previous annual revenue growth target of 4% to 7%. Most of the sales will come from internal growth, ABB said, with an expected five to seven percentage points of extra revenue, while an additional one to two percentage points is expected from acquisitions. ABB, which supplies industry and transportation networks with robots, electrification equipment and motors, also raised its core profitability target to a range of 16% to 19%. The International Monetary Fund recently downgraded its forecast for global growth for next year, with advanced economies expected to significantly slow as interest rates rise.
Persons: Arnd, France's Schneider, Bjorn Rosengren, John Revill, Tom Hogue, Jacqueline Wong Organizations: ABB, REUTERS, Rights, Germany's Siemens, Monetary Fund, Thomson Locations: Zurich, Switzerland, Swiss, Italy, Frosinone
☆ ABB flags slowdown in fourth-quarter revenue, shares slide
  + stars: | 2023-10-18 | by ( Noele Illien | ) www.reuters.com   time to read: +2 min
The logo of Swiss power technology and automation group ABB is seen during the company's annual news conference in Zurich, Switzerland February 28, 2019. ABB said it anticipated low- to mid-single digit comparable revenue growth in the fourth quarter after reporting a comparable 11% increase in the third quarter. "Orders in China declined at a low single-digit comparable growth rate particularly hampered by weakness in robotics and construction demand," said Chief Executive Bjorn Rosengren in a statement. For the full year 2023, the group said it expected comparable revenue growth to be in the low double-digit percentage range, and an operational margin to be in the range of 16.5% to 17.0%. Previously it had said it expected revenue growth of at least 10% and an operational margin above 16%.
Persons: Arnd, France's Schneider, ABB's, Bjorn Rosengren, Noele Illien, Rachel More, Tomasz Janowski Organizations: ABB, REUTERS, Rights, Germany's Siemens, Thomson Locations: Swiss, Zurich, Switzerland, China, United States, India, Asia, Europe
☆ ABB invests $280 mln in new robotics factory in Sweden
  + stars: | 2023-09-13 | by ( ) www.reuters.com   time to read: +2 min
The logo of ABB is seen at an office building in Zurich, Switzerland September 10, 2020. ABB, whose products range from industrial motors and drives, to chargers for electric vehicles, will build the new factory at its site in Vasteras, eastern Sweden. The new facility, due to open in 2026, will have 50% more production capacity than its old site and employ 1,300 people, ABB said. "The investment in our new campus is driven by customer demand and projected market growth," ABB CEO Björn Rosengren said in a statement. ABB said the European robotics and automation market is expected to grow by 7% per year between 2023 and the end of 2027, driven by companies bringing back production from Asia.
Persons: Arnd, Björn Rosengren, Joe Biden's, Sami Atiya, John Revill, Tomasz Janowski Organizations: ABB, REUTERS, Rights, Japan's Fanuc Corp, BMW, Scania, Volkswagen, Manufacturers, European Union, ABB’s Robotics, Thomson Locations: Zurich, Switzerland, Sweden, Swiss, Asia, Vasteras, European, United States, Washington, Beijing
☆ Robotics giant ABB 'pretty pessimistic' on China: 'It will be challenging for the rest of the year'
  + stars: | 2023-09-01 | by ( Ryan Browne | ) www.cnbc.com   time to read: +2 min
The CEO of Swedish-Swiss multinational robotics firm ABB said he has been "disappointed" by the state of the Chinese market, adding he expects conditions will prove challenging for the rest of the year. "We are pretty pessimistic at the moment" on China, said Rosengren. With its machines embedded in so many major global companies' factories, the company's performance serves as something of a barometer for the health of the manufacturing sector — and the broader economy. ABB says it's the leading robotics player in the Chinese market, accounting for more than 90% of sales from locally-made products, solutions and services there. In the second quarter of 2023, ABB reported a 2% increase in orders on a comparable basis, to $8.7 billion.
Persons: Bjorn Rosengren, CNBC's Joumanna Bercetche, Rosengren, it's, It's, we'd Organizations: ABB Locations: Swiss, China, China's
☆ China is 'not developing as we hoped,' says ABB CEO
  + stars: | 2023-08-30 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina is 'not developing as we hoped,' says ABB CEOBjorn Rosengren, CEO of ABB, discusses the economic activity coming out of China going into the second half of the year.
Persons: Bjorn Rosengren Organizations: China, ABB Locations: China
☆ Engineering group ABB increases orders despite China slowdown
  + stars: | 2023-07-20 | by ( John Revill | ) www.reuters.com   time to read: +2 min
[1/2] The logo of Swiss power technology and automation group ABB is seen at a plant in Baden, Switzerland January 28, 2019. REUTERS/Arnd Wiegmann/File PhotoSummaryCompanies Company increases orders by 2% on comparable basisChina orders fall 9%CEO sees customer activity remaining robustCore operating margin reaches highest levelZURICH, July 20 (Reuters) - ABB (ABBN.S) said customer activity remained "robust" during its second quarter despite the Swiss engineering company providing the latest evidence of an economic slowdown in China. Still, ABB increased its orders in the United States - its biggest market - and India, which helped offset the downturn as the company increased its overall order intake by 2%. Chief Executive Bjorn Rosengren highlighted how ABB, whose products range from electric motors for ships to drives used in factories, had increased orders from "last year's already high level." "It was good to see that the customer activity remained robust throughout the period," said Rosengren in a statement.
Persons: Arnd, Bjorn Rosengren, John Revill, Friederike Heine, Kim Coghill Organizations: ABB, REUTERS, Thomson Locations: Swiss, Baden, Switzerland, China, ZURICH, Germany, United States, India
☆ ABB CEO: Saw highest first-quarter performance in company's history
  + stars: | 2023-04-26 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailABB CEO: Saw highest first-quarter performance in company's historyBjörn Rosengren, CEO of ABB, lauds the company's highest first-quarter performance in history and weighs in on potential IPOs and the outlook for the rest of the year.
☆ ABB won't rush float of $2.9 billion electric vehicle charging business - CEO
  + stars: | 2023-02-02 | by ( ) www.reuters.com   time to read: 1 min
ZURICH, Feb 2 (Reuters) - ABB (ABBN.S) won't be rushed into the flotation of it 2.6 billion Swiss franc ($2.86 billion) E-Mobility electric vehicle charging business, Bjorn Rosengren said on Thursday after the company reported fourth quarter earnings. "At the moment we don't feel pushed to do an IPO very quickly," Rosengren told reporters. ABB announced on Wednesday a four new investors in the business, including a fund linked to former U.S. Vice President Al Gore. "We have $525 million to invest in the company and we will continue to do all the activities to grow that business," Rosengren said. ($1 = 0.9091 Swiss francs)Reporting by John RevillOur Standards: The Thomson Reuters Trust Principles.
☆ ABB sells its power conversion division for $505 million
  + stars: | 2023-01-20 | by ( ) www.reuters.com   time to read: +1 min
ZURICH, Jan 20 (Reuters) - ABB (ABBN.S) has sold its power conversion business to AcBel Polytech Inc (6282.TW) for $505 million, the Swiss engineering and technology company said on Friday. ABB said it expects to make a small non-operational book gain from the sale of the United-States-based Power Conversion business, which provides products for telecoms, data centres and general industry. Chief Executive Bjorn Rosengren said he was "delighted" with the deal which completed divisional portfolio divestments announced by ABB at the end of 2020. Power Conversion was acquired by ABB as part of the GE Industrial Solutions acquisition in 2018 and was not core to ABB, the company said. It generated revenues of approximately $440 million and income from operations of approximately $50 million in 2022.
☆ ABB’s $327 Million Bribery Settlement Arrives in U.S. Court
  + stars: | 2022-12-02 | by ( Dylan Tokar | ) www.wsj.com   time to read: +5 min
The U.S. court hearing was part of a globally coordinated deal that extends to authorities in South Africa, Switzerland and Germany, with the apparent bulk of the fines being collected in South Africa. The settlement is the first that U.S. authorities have reached in coordination with authorities in that country. The Kusile Power Station, a coal-fired power plant in South Africa. Switzerland on Friday said it was issuing a fine of 4 million Swiss francs, equivalent to about $4.3 million dollars. The Justice Department said it anticipated a related settlement with German authorities, but didn’t indicate a time frame.
☆ ABB takes valid detour around hairy IPO markets
  + stars: | 2022-11-21 | by ( ) www.reuters.com   time to read: +2 min
The deal, which values ABB E-mobility’s equity at 2.5 billion Swiss francs, is a halfway house after original plans for an initial public offering were delayed by volatile markets. The deal values the unit at around 3 times 2023 sales, assuming far-from-impossible 50% revenue growth this year and next. The charging division gets long-term investors, a beefed-up board and greater independence, making an IPO easier when markets recover. ABB meanwhile continues to streamline its operations to focus on the core fast-growing areas of electrification and automation. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
☆ ABB CEO says China demand at a 'good level' despite lower growth rates
  + stars: | 2022-10-24 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailABB CEO says China demand at a 'good level' despite lower growth ratesABB CEO Björn Rosengren discusses the Swedish-Swiss company's performance in China, which makes up 17% of the business, amid its third-quarter earnings report.
☆ ABB reports record margin in Q3 as demand stays strong
  + stars: | 2022-10-20 | by ( John Revill | ) www.reuters.com   time to read: +3 min
SummarySummary Companies Company says component supply problems easing furtherSays customer activity at a high levelExpects to reach operating profit margin goal one year earlyZURICH, Oct 20 (Reuters) - ABB (ABBN.S) posted its highest-ever quarterly profit margin during the third quarter as the engineering and technology company said customer demand remained strong. The maker of industrial drives and electric ship motors said on Thursday its core operating profit margin increased by 1.5 percentage points to 16.6%, the highest since the Swiss company was founded in 1988. The profit margin improvement brought the year to date figure to 15.5%, and meant ABB is likely to achieve its target of hitting 15% this year - one year early. "We delivered high order growth, a strong top-line development and a historically high margin," Chief Executive Bjorn Rosengren said in a statement. Rosengren's strategy has led to selling non-core businesses, like the mechanical power transmission business Dodge, and also spinning off its turbocharging business Accelleron to shareholders.
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