ABB reports higher earnings, orders for second quarter 2012
ABB公布2012第二季度盈利及订单增长

• Orders and revenues increased, orders steady to higher in all regions
• Operational EBITDA and margin lower vs Q2 2011, margin up 1% point vs Q1 2012
• Thomas & Betts acquisition completed, solid first contribution to operational EBITDA
• Significant foreign exchange translation negatively impacts top line and earnings

• 订单和营收增加，所有地区订单均稳步增长
• 与2011年同期相比，税前营业盈利以及净利下降，净利比2012第一季度增加1%
• 完成对通贝公司的收购，首次对税前营业盈利作出稳定贡献
• 外汇汇率的显著变化，对高增长和净利带来不利影响

Zurich, Switzerland, July 26, 2012 - ABB reported higher orders and revenues in the second quarter of 2012 despite short-term macroeconomic volatility as customers in almost all regions continued to invest in power grid upgrades and improved industrial productivity.

瑞士苏黎世7月26日消息——尽管短期宏观经济环境不稳，但ABB公布了2012第二季度订单和营收增长业务，因为几乎所有地区都继续投资于电网升级和提高工业生产率。

Orders received grew 9 percent (6 percent organic) to $10.1 billion while revenues rose to $9.7 billion, representing a 6 percent increase (3 percent organic). Utilities continued to invest in transmission grids, while industrial customers, especially in oil and gas, increased spending to secure reliable power and improve productivity.

订单增加9%（有机增长6%）达101亿美元，同时营收增加至97亿美元，增长6%（有机增长3%）。企业继续对传输电网投资，同时工业客户，尤其是油气领域客户，为确保可靠的电力供应和改善生产率，增加了投资。

Operational EBITDA amounted to $1.5 billion, a 5 percent decrease compared to the same quarter in 2011 (-9 percent organic). The operational EBITDA margin was 15.1 percent versus 16.0 percent the previous year. Cost savings of about $280 million offset the impact of lower prices and project margin slippages, while growth investments in selling and R&D supported volume increases. An unfavorable business mix also impacted the operational EBITDA margin, while significant differences in foreign exchange rates compared with the second quarter of 2011 reduced our US-dollar reported revenues by approximately $600 million and operational EBITDA by approximately $100 million.

税前营业盈利为15亿，较去年同期下降5%（有机下降9%），税前营业盈利净利率为15.1%，去年同期为16%。成本节省大约2.8亿，抵消价格降低和项目利润下滑的影响，但同时对销售和研发支持投资额增加。一个不利的业务组合业影响了税前营业盈利，而与去年同期外汇汇率的显著不同，导致营收减值约6亿，而税前营业净利减值约1亿。

Cash flow from operations was approximately $300 million lower than Q2 last year. Total divisional cash from operations increased by $40 million. Group cash flow reflects lower cash generation from hedging of corporate exposures as a result of the strengthening US dollar.

运营现金流比去年第二季度减少约3亿美元。运营部门的现金总额增加4 000万。集团现金流反映随着美元走强，企业风险对冲的现金产生降低。

Net income amounted to $656 million, including the negative impact of the strengthening US dollar and transaction and amortization-related charges of approximately $100 million related to the acquisition of US low voltage product manufacturer Thomas & Betts, which was completed on May 16 of this year.

净收入达6.56亿美元，这包括了因美元走强以及交易和摊销相关收费的损失，大约1亿美元，这是对美国低电压产品制造商通贝公司的收购（已在今年5月16日完成）相关的费用。

“These results clearly show how our balanced business and regional scope, together with good execution on cost, allow us to produce solid results even in a mixed market,” said Joe Hogan, ABB’s CEO. “We’re also satisfied to see operational profitability improve compared to the first quarter. The macroeconomic view remains uncertain, but the positive developments we’ve seen in China, the continued strength of the US market and our resilience in Europe make us more confident about the short-term outlook than we were three months ago.”

ABB首席执行官昊坤表示：“财报结果清楚地表明了我们的业务和区域范围非常平衡，加上良好的执行成本，使我们在这一错杂复杂的市场能取得稳定的成果。我们也高兴地看到与今年第一季度相比，我们的业务盈利能力提高。宏观经济仍然不明朗，但我们在中国看到积极的发展态势，美国市场的持续走强和我们在欧洲市场的反弹，使我们对短期前景的信心，相比三个月前更足。”