Slide 1: ABB FY and Q4 Presentation
February 13, 2014 ABB FY and Q4 Presentation Driving solid results in challenging times © ABB Group February 13, 2014 | Slide 1
Slide 2: Important notices
Important notices This presentation includes forward-looking information and statements including statements concerning the outlook for our businesses. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, including gl
Slide 3: Welcome on behalf of the ABB Executive Committee
Welcome on behalf of the ABB Executive Committee Ulrich Spiesshofer Bernhard Jucker Claudio Facchin Pekka Tiitinen Tarak Mehta Veli-Matti Reinikkala CEO Power Power Discrete Automation Low Voltage Process Products Systems and Motion Products Automation Eric Elzvik Jean-Christophe Diane Frank Duggan
Slide 4: Agenda: Investor and Analyst meeting
Agenda: Investor and Analyst meeting Content Speaker FY and Q4 results presentation Ulrich Spiesshofer, Eric Elzvik Outlook and targets Ulrich Spiesshofer Focus areas Focus areas in action: profitable growth in Low Voltage Products Tarak Mehta Focus areas in action: business-led collaboration in ser
Slide 5: Full year 2013 summary
Full year 2013 summary © ABB Group February 13, 2014 | Slide 5
Slide 6: ABB delivered a solid 2013 performance in a challenging market
ABB delivered a solid 2013 performance in a challenging market Record revenues, higher earnings, free cash flow and dividend Revenues up 7%1 (5% organic2) to a record level of $42 billion Profitable Early cycle business trending positively as we head into 2014, lower Growth order backlog to weig
Slide 7: ABB's vision: Power and productivity for a better world
ABB’s vision: Power and productivity for a better world Strong external endorsement Recognition for ABB’s efforts in energy efficiency and renewable energy technologies Underlines our relentless drive for innovation to create new offerings and value for our customers Reflects ABB’s pioneering herita
Slide 8: Order intake reflects challenging market
Order intake reflects challenging market Automation growth helped mitigate lower large orders 2013 order growth by region Change in local currencies Europe Automation 0% Power -9% Total -3% Germany +7% United Kingdom -8% Norway -12% Italy -7% Americas1 Automation +4% Power -18% Total -5% US 0% Asia
Slide 9: Divisional highlights 2013
Divisional highlights 2013 Discrete Automation Low Voltage Products Process Automation Power Products Power Systems and Motion Strong year for Strong growth in NAM No. 1 position in global Higher revenues and Key project successes, robotics globally via T&B synergies DCS market confirmed s
Slide 10: Key figures by division full year 2013
Key figures by division full year 2013 Operational Operational US$ millions Orders 1 Revenues 1 EBITDA EBITDA % Discrete Automation 9,771 +2% 9,915 +5% 1,783 +3% 18.0% -0.4 pts and Motion Low Voltage Products +14% +16% 7,696 (+1%) 7,729 (+2%) 1,468 +20% 19.0% +0.6 pts (organic)2 Process Automa
Slide 11: Actions under way to return PS to higher, more consistent returns
Actions under way to return PS to higher, more consistent returns New leadership driving the realignment Fix current project issues: Significantly increased experienced and qualified resources Leverage local and global technical and functional expertise (internal and external) Benefit from l
Slide 12: Service momentum is key building block for profitable growth
Service momentum is key building block for profitable growth Increasing share of recurring revenues Service order share1 Drivers of service growth: 20% Grow installed base Increase penetration of installed base 19% Expand services product portfolio 18% Broaden geographic coverage, strengthen
Slide 13: ABB continues to save 3-5% of COS per year
ABB continues to save 3-5% of COS per year Steady momentum going forward Share of 2013 cost savings by division Share of 2013 cost savings by type Percent Percent Operational Global supply chain excellence optimization Process Automation Examples Examples 18% 32% Power Products Lean/Six Sigma 36%
Slide 14: Integration update on ABB's two largest transactions
Integration update on ABB’s two largest transactions Solid “say-do” Baldor Thomas & Betts North American leader in electrical motors Major player in North American low-voltage market 3-year CROI target exceeded T&B operational EBITDA on plan Accelerated global growth Integration well under w
Slide 15: Portfolio expansion through strategic acquisitions
Portfolio expansion through strategic acquisitions 2013 deals drive expansion, improve access to attractive markets Power-One Global No. 2 in most attractive element of the solar PV value chain Newron Software for growing building automation market ELBI Elektrik Expands low-voltage business in Turke
Slide 16: Strengthened competitive position
Strengthened competitive position Innovation Geographic scope Steady flow of product innovations across the Further progress in localizing production in divisions key markets Higher R&D investments through the cycle Increased share of capex in emerging R&D investment 2013 > $1.5 billion ma
Slide 17: Resilient shareholder returns through the cycle
Resilient shareholder returns through the cycle Improved portfolio balance and business execution Better balance Better execution Better returns Share of orders by region Cost savings Operational EBITDA vs global GDP growth Percent of total orders US$ billions US$ millions, real growth in % MEA Euro
Slide 18: Q4 2013 Summary
Q4 2013 Summary © ABB Group February 13, 2014 | Slide 18
Slide 19: Q4 early-cycle orders continue positive trend
Q4 early-cycle orders continue positive trend Steady revenue growth supported by backlog and service sales Base orders up 4%1, positive early-cycle Base vs large orders Q4 2012-Q4 2013 Profitable trend continues, large orders still weak US$ millions, % change vs year-earlier period in local curren
Slide 20: Solid base order growth offset by lower large orders in Americas
Solid base order growth offset by lower large orders in Americas Australia and South Korea supported Asia growth Q4 2013 order growth by region Change in local currencies Europe Automation 0% Power -23% Total -9% Germany +29% United Kingdom -12% Sweden -23% Italy +2% Americas Automation -5% Power -1
Slide 21: Key figures ABB and by division fourth quarter 2013
Key figures ABB and by division fourth quarter 2013 Operational Operational US$ millions unless otherwise stated Orders 1 Revenues 1 EBITDA EBITDA % Discrete Automation 2'484 +10% 2'687 +8% 463 +6% 17.2% -0.3 pts and Motion Low Voltage Products 1'844 -2% 2'022 +2% 386 +4% 19.1% +0.3 pts Proc
Slide 22: Net savings and volume effects drive higher operational EBITDA
Net savings and volume effects drive higher operational EBITDA Increased profit despite PS charges Factors affecting operational EBITDA Q4 2013 vs Q4 2012 US$ millions +97 1'418 1'373 -31 +67 -13 -75 Net volume Positive volume impact Mix Power Other Net savings outweighs higher sales Mainly PS and L
Slide 23: Balanced footprint provides a natural hedge
Balanced footprint provides a natural hedge Small FX translation effects in 2013 FX movements in major countries 2013 FY and Q4 FY Q4 average exchange rates vs. USD 2013 2013 China +2.5% +2.5% FY Q4 (CNY) 2013 2013 India -9.6% -14.5% Sweden +3.8% +2.1% (INR) (SEK) Russia -2.6% -4.7% Switzerland +1.0
Slide 24: Divisions maintain Q4 cash flows at previous year's high levels
Divisions maintain Q4 cash flows at previous year’s high levels NWC management improvements remain a key priority Cash from operations Q4 2013 vs Q4 2012 Divisional cash flows steady, despite weak Power US$ millions Systems performance Divisional CFO steady at last year’s high level Change in Q4
Slide 25: Operational EBITDA to net income reconciliation
Operational EBITDA to net income reconciliation US$ millions 1,418 -352 +4 -158 D&A Derivative -89 impact -72 Restructuring- -178 related Acquisition- related & non- Finance -22 -26 525 operational net items Income Discon- Taxes tinued Non- operations controlling int. Q4 2013 Q4 2013 Operational Net
Slide 26: Operational EPS analysis
Operational EPS analysis Q4 13 Q4 12 FY 13 FY 12 US$ millions, EPS EPS 2 EPS EPS 2 except per share data in US$ Net income 525 0.23 604 0.26 -13% 2,787 1.21 2,704 1.18 3% (attributable to ABB) Restructuring and restructuring- 121 94 182 132 related expenses1 Acquisition-related expenses and certai
Slide 27: Business underpinned by strong balance sheet
Business underpinned by strong balance sheet Excellent cash generation potential A solid cash generator Efficient balance sheet Free cash flow Cash and marketable securities and net cash/debt US$ billions US$ millions 9'552 3.1 3.4 8'610 8'481 Net cash/debt 2.9 7'753 2.6 2.6 2.6 6'485 5'767 5,443 20
Slide 28: Priorities for capital allocation
Priorities for capital allocation 1. Organic growth for highest return on investment 2. Steadily rising sustainable dividend 3. Value-creating acquisitions 4. Returning additional cash to shareholders © ABB Group February 13, 2014 | Slide 28
Slide 29: Board of Directors proposes 5th dividend increase in a row
Board of Directors proposes 5th dividend increase in a row CHF 0.70 per share for a 3% yield1 Dividend policy A steadily rising, sustainable annual dividend over time Dividend payout 2005-2013 CHF per share 0.70 0.65 0.68 Increase in line with net income 0.60 0.51 Payment from capital contributi
Slide 30: Summary: A solid year – great collaboration
Summary: A solid year – great collaboration Heading into 2014 in good shape Profitable Growth Positive early-cycle trend, while large order delays continued Lower order backlog to weigh on 2014 revenues Good growth in service business Record full-year revenues, higher operational EBITDA Rele
Slide 31: Outlook and targets
Outlook and targets © ABB Group February 13, 2014 | Slide 31
Slide 32: Development of world economies
Development of world economies 2011-15 plan assumptions: GDP forecasts vs actuals Global economic growth slower than originally assumed, widest gap in 2013 Actual 2013 industrial capex growth almost 50% below original expectations ABB market growth currently 40% below assumptions World GDP gro
Slide 33: Performance against 2011-2015 targets: Group perspective
Performance against 2011-2015 targets Group perspective Group Targets Status Comments Organic1 revenue Like-for-like comparison 5.5-8.5%3 5.3% growth (CAGR2) Slower economic recovery Op EBITDA 2011: 15.8% 13-19% 14.5% 2012: 14.2% margin corridor EPS4 growth 10-15% 3% Operational EPS: 6% CAGR (CAGR1)
Slide 34: Performance against 2011-2015 targets: Divisional perspective
Performance against 2011-2015 targets Divisional perspective Organic1 revenue Operational EBITDA margin growth (CAGR)2 Target Status Target Status Discrete Automation and Motion 7-10%3 11% 16-21% 18.0% Low Voltage Products 8-11% 5% 16-22% 19.0% Process Automation 6-9% 5% 11-15% 12.9% 1 Organic exclu
Slide 35: Market outlook
Market outlook Long-term outlook positive Short-term outlook mixed Increasing need for efficient, reliable electricity Macroeconomic indicators show some positive transmission and distribution early-cycle signs: US shows growing strength, Europe bottoming Growing automation demand, focus on pr
Slide 36: 2011-15 plan: Revenue trend
2011-15 plan: Revenue trend 2013/14 changes the expected growth trajectory Continue the growth trajectory in 2015 Schematic Slower macroeconomic development Lower end-2013 order backlog Delays in large project awards Revenue Power Systems reset and selectivity Drive growth through PIE1 appro
Slide 37: Our expectations moving forward
Our expectations moving forward Group 2011-2015 Targets Expectation 2014 a challenging year; continue growth trajectory in 2015, Organic1 revenue growth 5.5-8.5%3 CAGR2 4-5% over current planning cycle due to slower economic (CAGR2) recovery and PS Continue to deliver within the range Op EBITDA marg
Slide 38: Focus areas
Focus areas © ABB Group February 13, 2014 | Slide 38
Slide 39: ABB – in simple terms
ABB – in simple terms What Power Automation (offering) For whom Transportation & Utilities Industry (customers) Infrastructure Where Globally (geographies) © ABB Group February 13, 2014 | Slide 39
Slide 40: Three focus areas define the way forward
Three focus areas define the way forward A systematic and robust approach for value creation Accelerated growth momentum, Profitable continued profit focus growth Business-led Tomorrow Growth momentum collaboration Relentless execution Today Profit Focus on EPS and CROI © ABB Group February 13, 2014
Slide 41: The way forward
The way forward Driving for the next level of organic and inorganic growth through PIE Profitable growth Selling more of our existing offering Penetration to accessible customers Business-led collaboration New offerings/value propositions – Relentless Innovation focused resource allocation execution
Slide 42: Rigorous navigation check as basis for priority setting
Rigorous navigation check as basis for priority setting and resource allocation Systematic assessment of current position and segment opportunity By customer sector By geography Transparency on key strategic Sector A Sector B Sector C Region A Region B … segments Sub-sector 1 Sub-sector 2 Sub-se
Slide 43: Significant opportunities for profitable growth
Significant opportunities for profitable growth Examples Penetration Innovation Expansion Localization of Power What Power electronics EV charging Products offering (offering) DC technology Home automation Service coverage Industry-specific Sub-sea Robot applications for For whom packages new indust
Slide 44: Significant opportunities for profitable growth
Significant opportunities for profitable growth Examples Penetration Innovation Expansion What Localization of Power Power electronics EV charging (offering) Products offering DC technology Home automation Industry-specific Sub-sea Robot applications for For whom packages new industries (customers)
Slide 45: Localization to better penetrate regional markets
Localization to better penetrate regional markets New factories for switchgear and transformers in emerging markets Switchgear factory Transformer factory Localization of Power Products offering ~7600 sqm ~7800 sqm Export base for south Asia and Middle East In-country, for-country design For
Slide 46: Significant opportunities for profitable growth
Significant opportunities for profitable growth Examples Penetration Innovation Expansion Localization of Power What EV charging Products offering DC technology (offering) Home automation Service coverage Industry-specific Sub-sea Robot applications for For whom packages new industries (customers) S
Slide 47: Bringing advantages of DC electricity to marine customers
Bringing advantages of DC electricity to marine customers Vessel electrification DC technology Up to 20% efficiency improvement DC grid for on-board electrical power distribution Reduces electrical equipment footprint and weight by up to 30% © ABB Group February 13, 2014 | Slide 47
Slide 48: Significant opportunities for profitable growth
Significant opportunities for profitable growth Examples Penetration Innovation Expansion Localization of Power What Power electronics Products offering EV charging (offering) DC technology Service coverage Industry-specific Sub-sea Robot applications for For whom packages new industries (customers)
Slide 49: Enabling electro-mobility
Enabling electro-mobility Electric vehicle fast charging in highly urbanized Netherlands EV charging More than 200 electric vehicle fast-charging stations EV fast charger within 50 kms of all 17 million inhabitants Capable of charging electric vehicles in 15-30 minutes Solar-powered to reduc
Slide 50: Significant opportunities for profitable growth
Significant opportunities for profitable growth Examples Penetration Innovation Expansion Localization of Power What Power electronics EV charging Products offering (offering) DC technology Home automation Service coverage Industry-specific Robot applications for For whom packages Sub-sea new indust
Slide 51: ABB and Statoil: enabling subsea factories of the future
ABB and Statoil: enabling subsea factories of the future Developing deep-water subsea power and control technologies Sub-sea 5-yr $100-million joint industry Power transmission up to 100 project with Statoil MW over a distance of 600 km Power and control for large- and depths up to 3000 m scal
Slide 52: Significant opportunities for profitable growth
Significant opportunities for profitable growth Examples Penetration Innovation Expansion Localization of Power What Power electronics EV charging Products offering (offering) DC technology Home automation Service coverage Industry-specific Sub-sea Robot applications for For whom packages new indust
Slide 53: Combined inverters and drives for solar-powered pumps
Combined inverters and drives for solar-powered pumps in emerging markets Solar applications for remote areas Strong off-grid solution for farmers Solution includes ABB LV components such as relays, terminal blocks and contactors Built-in tracking to follow the Sun for full pump flow Install
Slide 54: Significant opportunities for profitable growth
Significant opportunities for profitable growth Examples Penetration Innovation Expansion Localization of Power What Power electronics EV charging Products offering (offering) DC technology Home automation Service coverage Industry-specific Sub-sea Robot applications for For whom packages new indust
Slide 55: Powering Africa's biggest copper mine in Zambia
Powering Africa’s biggest copper mine in Zambia Substations to improve reliability and quality of power supply Power infrastructure in Africa $32-million contract to provide reliable power supply to Kalumbila Automated substation for mine remote monitoring Enhances transmission capacity and improves
Slide 56: Business-led collaboration: Creating value for our customers and ABB
Business-led collaboration: Creating value for our customers and ABB Examples Profitable Creating value across our businesses growth Business-led Packaged solutions Account management Shared platforms collaboration Integrated product Increased customer Joint logistics & offering satisfaction t
Slide 57: Business-led collaboration: Creating value for our customers and ABB
Business-led collaboration: Creating value for our customers and ABB Examples Profitable Creating value across our businesses growth Business-led Packaged solutions Account management Shared platforms collaboration Integrated product Increased customer Joint logistics & offering satisfaction t
Slide 58: Translating business-led collaboration into business
Translating business-led collaboration into business $200-million order for integrated offering in Swedish high-speed train Packaged solutions Train Control Power Car Traction High Door Low voltage Passenger Driver’s cab Driver desk & Monitoring climatisation converter voltage system installation cl
Slide 59: Business-led collaboration: Creating value for our customers and ABB
Business-led collaboration: Creating value for our customers and ABB Examples Profitable Creating value across our businesses growth Business-led Packaged solutions Account management Shared platforms collaboration Integrated Integrated product product Increased customer Joint logistics & of
Slide 60: Growing in industrial power – Pepsi bottling plant
Growing in industrial power – Pepsi bottling plant Power quality solution yields significant energy savings Account management Automatically adjusts power consumption depending on load Pays for itself in less than two years Reduces electricity bills by 5-10% annually © ABB Group February 13, 2014 |
Slide 61: Business-led collaboration: Creating value for our customers and ABB
Business-led collaboration: Creating value for our customers and ABB Examples Profitable Creating value across our businesses growth Business-led Packaged solutions Account management Shared platforms collaboration Integrated product Increased customer Joint logistics & offering satisfaction t
Slide 62: ABB Longmeadows integrated business park
ABB Longmeadows integrated business park Production, logistics, engineering and headquarters Shared platforms ~$55-million investment near Johannesburg to support growth in southern Africa Integrated head office, manufacturing, assembly, logistics and project and administration office block Mo
Slide 63: Relentless execution: Successful track record on cost savings
Relentless execution Successful track record on cost savings Cost savings 2011-2013 Profitable % of cost of sales (COS) growth Operational excellence Lean/Six Sigma throughout operations 5% Design-to-cost Business-led 4.1% 4.1% 4.0% Design for reliability Targeted cost collaboration savings ra
Slide 64: Relentless execution: Further levers we activate
Relentless execution Further levers we activate to achieve the next level Group-wide initiative to improve G&A efficiency White collar Sales force and engineering effectiveness productivity New tools to increase productive time and reduce waste Inventory optimization and net working capital
Slide 65: White collar productivity: ABB Robot Care
White collar productivity: ABB Robot Care Designed for fast sales success on the shop floor Tablet platform for speed, portability and interactivity in sales process, even in areas of poor network coverage Customizable service agreements based on standardized menu Simple workflow to let sales
Slide 66: Three focus areas – systematic value creation for our shareholders
Three focus areas – systematic value creation for our shareholders Profitable growth Navigation check completed Systematic and robust approach implemented Business-led collaboration Focused activities defined and started Relentless Performance management established execution Global team mob
Slide 67: Focus areas in action: Profitable growth in low voltage products
Focus areas in action: Profitable growth in low voltage products © ABB Group February 13, 2014 | Slide 67
Slide 68: Low Voltage Products: Delivering profitable growth
Low Voltage Products Delivering profitable growth Revenues Middle East/Africa Revenues: Operational EBITDA Americas $4.6 bn to $7.7 bn $7.7 bn Asia Op. EBITDA: $6.6 bn Europe $0.9 bn to $1.5 bn $5.3 bn $4.6 bn 39% 57% 22% 26% 33% 9% 8% 6% 2010 2011 2012 2013 2010 2013 © ABB Group February 13, 2014 |
Slide 69: Market penetration: A systematic and robust approach
Market penetration A systematic and robust approach Geography Europe Asia The Americas 1 2 3 4 5 6 7 8 9 10 11 12 13 14 End users OEMs Panel builders Distributors 60 product lines – 15 markets via channels served through distribution © ABB Group February 13, 2014 | Slide 69
Slide 70: Market penetration: A systematic and robust approach
Market penetration A systematic and robust approach Geography Europe Asia The Americas 1 2 3 4 5 6 7 8 9 10 11 12 13 14 End users X X X X OEMs X X Panel builders X X X X Distributors X X X X X 470 projects in place, prioritized based on profitable/sustainable growth © ABB Group February 13, 2014 | S
Slide 71: Market penetration: Product focus
Market penetration Product focus Emax 2 circuit Steelcity Welcome 8 Smissline socket breaker e-fab kit door entry system Germany & US Installers China Critical power Product development to meet specific market needs © ABB Group February 13, 2014 | Slide 71
Slide 72: Market penetration: Solution focus: Solar
Market penetration Solution focus: Solar Solar: Commercial offering sold through OEMs © ABB Group February 13, 2014 | Slide 72
Slide 73: Market penetration: Distributors
Market penetration Distributors Strengthen position ABB products in NAM NAS T&B products via ABB NAM channels EU IMA Emerging markets SAM + 400 sales SA 10 focus countries 30 product lines Invest in demand creation Generating demand to be fulfilled via distribution © ABB Group February
Slide 74: Market penetration: Summary for LP division
Market penetration Summary for LP division Poised for accelerated organic growth A clear action plan in place to drive penetration in Products Solutions Distributors © ABB Group February 13, 2014 | Slide 74
Slide 75: Focus areas in action: Business-led collaboration in services and integration
Focus areas in action: Business-led collaboration in services and integration © ABB Group February 13, 2014 | Slide 75
Slide 76: Business-led collaboration
Business-led collaboration Spirit 1. Bring full value of ABB offering to address customers’ needs 2. “One ABB” as customer experience 3. Working naturally together as part of our enhanced DNA Objectives 4. Increase share of wallet and ABB’s value proposition to our customers 5. Simplify cross-busine
Slide 77: Business-led collaboration impacts many areas
Business-led collaboration impacts many areas Focus today on service and integration Packaged solutions Account Service management Integration Business-led Channel collaboration management Common Shared technology platforms Industry Sector Initiatives © ABB Group February 13, 2014 | Slide 77
Slide 78: Service: Growth actions
Service: Growth actions Drive installed base Increasing market penetration From 25% of installed base today to 40% Expanding the service product portfolio Industrializing and globally leveraging 400+ service products Developing new service products (R&D), expanding existing offerings B
Slide 79: Service: Implementation of how-to-win initiatives
Service: Implementation of “how-to-win” initiatives Installed base penetration Dedicated service sales Market M&A Opportunity Safety Transparency Service Specific Service Service Process Marketing & applications eBusiness Part Supply Chain Performance On- and Off site Go To Market Service Service Of
Slide 80: Acquisition integration to drive value creation
Acquisition integration to drive value creation Acquired business with ABB business portfolio, starting at due diligence Align Clear roles, metrics and accountabilities Key management Retain Best practices – “best of both worlds” Cultural attributes Acquired business team Support “Bett
Slide 81: Summary
Summary © ABB Group February 13, 2014 | Slide 81
Slide 82: Looking forward – what you can expect
Looking forward – what you can expect Today September Capital Markets Day: Comprehensive strategic perspective “Next level” strategy Year end and Q4 results For our customers For our businesses Expectations towards 2011/2015 targets Key levers for our three focus areas Profitable growt
Slide 83: Summary
Summary Today Looking forward Solid 2013 performance despite a challenging Early-cycle businesses trending positively market and PS setback as we head into an uncertain 2014 Record revenues and higher operational EBITDA Lower large orders in 2013 will weigh $1.2 billion cost savings on 201
Slide 84: © ABB Group February 13, 2014 | Slide 84
© ABB Group February 13, 2014 | Slide 84
Slide 85: Balanced business and geographic portfolio
Balanced business and geographic portfolio Orders by division Q4 2013 Orders by region Q4 2013 Non-consolidated Middle East Power Systems Discrete and Africa Automation and 17% Motion 12% 23% 33% Europe Asia 25% Power Products 24% Low Voltage 17% Products 19% 30% Process Americas Automation
Slide 86: Orders and revenues by region and division Q4 2013
Orders and revenues by region and division Q4 2013 Regional share of total orders and revenues by division 3% 6% 18% 8% 10% 7% 30% 26% 28% 25% 21% Orders 34% 39% 23% 42% 27% 31% 33% 30% 24% 37% 29% 23% 39% 30% 33% 14% 18% 31% 19% 33% 29% 32% Discrete Automation & Low Voltage Products Process Power P
Slide 87: Order backlog by division
Order backlog by division Order backlog (end December) Q4 2013 Q4 2012 Change % US$ millions US$ Local currencies Discrete Automation and Motion 4,351 4,426 -2% -1% Low Voltage Products 1,057 1,117 -5% -4% Process Automation 5,772 6,416 -10% -8% Power Products 7,946 8,493 -6% -5% Power Systems 9,435
Slide 88: For more information, call ABB Investor Relations
For more information, call ABB Investor Relations Or visit our website at www.abb.com/investorcenter Name Telephone E-mail Zurich, Switzerland Alanna Abrahamson +41 43 317 3804 alanna.abrahamson@ch.abb.com Head of Investor Relations John Fox +41 43 317 3812 john.fox@ch.abb.com Binit Sanghvi +41 43 3