Zurich: The Swiss industrial group ABB on Thursday printed higher than anticipated second quarter outcomes, pushed by a resumption of latest orders, particularly for robots meant to automate manufacturing.
Its internet revenue rebounded 136% from the second quarter of final yr to $ 752 million (€ 637 million) whereas its income rose 21% to $ 7.4 billion, the corporate mentioned. firm in a press launch.
New orders rose 32% year-on-year to $ 7.9 billion for the group that manufactures robots for trade and the automotive sector, in addition to rail traction programs and charging stations for electrical autos.
The robotics division recorded the strongest progress in orders, up 41% excluding foreign money results. Many firms have confronted pandemic-related disruption for staff and are struggling to rent employees, making automation much more engaging to producers.
ABB expects progress charges of round 10% within the third quarter, reflecting the low degree of enterprise exercise throughout the identical interval final yr.
The rise in demand ought to help the extent of working earnings regardless of the strain of rising uncooked materials prices and shortages of sure elements.
“The restricted provide of sure elements, akin to semiconductors, is predicted to proceed over the subsequent quarter,” mentioned managing director Bjorn Rosengren.
On Tuesday, the group introduced the acquisition of Spanish robotic maker ASTI for an undisclosed quantity, bolstering this enterprise space which was on the coronary heart of its progress within the second quarter.
“Going ahead, I count on to see extra of those small to mid-sized add-on agreements because the divisions full their goal pipelines,” mentioned Rosengren.