Appendix
I
Income (loss) from discontinued operations (not included in EBIT)
(unaudited)
$ in millions |
Q3 2005 |
Q3 20041 |
Asbestos |
(24) |
(24) |
Lease portfolio (prev. in Structured Finance) |
(26) |
20 |
Power lines |
(1) |
(6) |
Other |
1 |
13 |
Net loss |
(50) |
3 |
1
Adjusted to reflect the reclassification of the oil, gas and petrochemicals
business to continuing operations, and of other activities to Discontinued
operations.
Appendix
II
Summary of 2009 group targets
Revenue growth 2005-2009 |
> 5% (CAGR1) |
EBIT margin |
> 10% |
Net margin |
> 5% |
Return on capital employed (after tax) (ROCE) |
Mid-teens |
Free cash flow as share of net income |
100% |
1 Compound annual growth rate over five years from 2005
to 2009, excluding major acquisitions and divestitures and assuming constant
exchange rates.
Summary of 2009 division targets
Division1 |
Corresponding business area in current structure |
Revenue growth |
EBIT margin 2009 |
Power Products |
Power Technology Products |
> 6 % |
> 11 % |
Power Systems |
Power Technology Systems |
> 5 % |
> 6 % |
Automation Products |
same |
> 5 % |
> 14 % |
Process Automation |
same |
> 5 % |
> 9 % |
Robotics |
Manufacturing Automation |
> 4 % |
> 9 % |
1 Division structure effective January 1, 2006. 2
Compound annual growth rate for the five years from 2005 to 2009, excluding
major acquisitions and divestitures and assuming constant exchange rates.
Targets defined
Revenue growth CAGR |
Compound annual growth rate for the five years from 2005
to 2009, excluding major acquisitions and divestitures and assuming constant
exchange rates |
EBIT margin |
Earnings before interest and taxes as a percentage of
revenues |
Net margin |
Net income as a percentage of revenues |
Free cash flow |
Free cash flow (cash flow from operating activities
adjusted for changes in financing receivables as well as net investments in
property, plant and equipment) as a percentage of net income |
Return on capital employed |
EBIT (less tax), divided by the sum of fixed assets plus
net working capital* |
* The published financial statements
for the full years 2004 and 2003 do not present information in a manner that
would allow the calculation of return on capital employed as calculated by ABB
above. Starting with the 2005 annual financial statements, additional
disclosures will be made on the group's balance sheet to allow the above
calculation.
ABB Executive Committee as of January 1, 2006
Fred Kindle |
President and CEO |
Dinesh Paliwal |
President, Global Markets &
Technology |
Michel Demaré |
CFO |
Gary Steel |
Human Resources |
Ulrich Spiesshofer1 |
Corporate Development |
Bernhard Jucker2 |
Power Products |
Samir Brikho2 |
Power Systems |
Tom Sjoekvist2 |
Automation Products |
Veli-Matti Reinikkala2 |
Process Automation |
Anders Jonsson2 |
Robotics |
1
Appointment effective November 1, 2005. 2 Appointments effective
January 1, 2006.
Appendix
III
ABB key figures Q3 2005
(unaudited)
$ in millions |
Q3 2005 |
Q3 20041 |
% change |
||
US$ |
Local |
||||
Orders |
Group |
5,740 |
4,993 |
15% |
14% |
|
Power Technologies |
2,724 |
2,093 |
30% |
28% |
|
Automation Technologies |
2,982 |
2,728 |
9% |
8% |
|
Non-core activities |
250 |
344 |
-27% |
-25% |
|
Corporate |
(216) |
(172) |
|
|
Revenues |
Group |
5,648 |
5,005 |
13% |
12% |
|
Power Technologies |
2,426 |
2,108 |
15% |
13% |
|
Automation Technologies |
2,944 |
2,667 |
10% |
9% |
|
Non-core activities |
459 |
389 |
18% |
26% |
|
Corporate |
(181) |
(159) |
|
|
EBIT2 |
Group |
458 |
253 |
81% |
|
|
Power Technologies |
219 |
116 |
89% |
|
|
Automation Technologies |
323 |
266 |
21% |
|
|
Non-core activities |
11 |
(20) |
n/a |
|
|
Corporate |
(95) |
(109) |
|
|
EBIT margin |
Group |
8.1% |
5.1% |
|
|
|
Power Technologies |
9.0% |
5.5% |
|
|
|
Automation Technologies |
11.0% |
10.0% |
|
|
Net income |
|
188 |
98 |
|
|
ABB key figures first nine months 2005
(unaudited)
$ in millions |
Jan-Sept |
Jan-Sept |
% change |
||
US$ |
Local |
||||
Orders |
Group |
18,124 |
16,447 |
10% |
6% |
|
Power Technologies |
8,241 |
7,156 |
15% |
11% |
|
Automation Technologies |
9,750 |
8,587 |
14% |
10% |
|
Non-core activities |
780 |
1,250 |
-38% |
-40% |
|
Corporate |
(647) |
(546) |
|
|
Revenues |
Group |
16,443 |
14,726 |
12% |
8% |
|
Power Technologies |
6,973 |
6,181 |
13% |
9% |
|
Automation Technologies |
8,895 |
7,839 |
13% |
10% |
|
Non-core activities |
1,178 |
1,251 |
-6% |
-8% |
|
Corporate |
(603) |
(545) |
|
|
EBIT2 |
Group |
1,218 |
818 |
49% |
|
|
Power Technologies |
520 |
446 |
17% |
|
|
Automation Technologies |
963 |
743 |
30% |
|
|
Non-core activities |
10 |
(18) |
|
|
|
Corporate |
(275) |
(353) |
|
|
EBIT margin |
Group |
7.4% |
5.6% |
|
|
|
Power Technologies |
7.5% |
7.2% |
|
|
|
Automation Technologies |
10.8% |
9.5% |
|
|
Net income |
|
513 |
188 |
|
|
1 Adjusted to reflect the
reclassification of the oil, gas and petrochemicals business to continuing
operations, and of other activities to Discontinued operations. 2
Earnings before interest and taxes. See Summary Financial Information for more
information.