ABB Boosts Growth Targets But Flags Enduring Supply-Chain Concerns
07 Dezember 2021 - 07:39AM
Dow Jones News
By Ed Frankl
ABB Ltd. on Tuesday updated its targets ahead of its capital
markets day, raising its earnings expectations but flagging
supply-chain issues that will persist into 2022.
The Swiss engineering company increased its growth target to
4%-7% through the economic cycle, alongside honing its outlook for
operational earnings before interest, taxes and amortization to at
least 15% as from 2023.
The Zurich-based company previously targeted 3%-5% for revenue
growth and an operational Ebita margin in the upper half of a
13%-16% range from 2023, it said.
ABB's Chief Executive Bjorn Rosengren said that the company
anticipates positive market momentum in 2022 but will still have to
manage supply-chain disruptions, which will most likely impact
customer deliveries in the fourth quarter and at least the early
part of next year.
"A sharpened focus on accountability, transparency and speed in
2022 will help drive growth, lift profitability and create further
value for shareholders," he said.
The company also flagged an initial public offering for its
e-mobility division in the first half of 2022, and said it expects
to make five or more small- to mid-sized acquisitions a year.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
December 07, 2021 01:24 ET (06:24 GMT)
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