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Strong demand for technology to increase power grid reliability, industrial productivity and energy effi ciency contributed to a 45 percent increase in ABB’s earnings before interest and tax (EBIT) to a record US$2,586 million in 2006. As for net income, this rose 89percent to $1,390 million.
“We have the right technology and market positions to take advantage of the growing global demand for reliable power and higher industrial effi ciency,” said Fred Kindle, ABB President and CEO. “Our order backlog has grown signifi cantly and improved business execution is allowing us to capture more of that growth in our bottom line. We are heading into 2007 in a strong position.”
Revenues for 2006 reached $24,412 million, an increase of 11 percent over 2005, while orders were 22 percent higher at $28,401 million. The order backlog stood at $16,953 million at the end of 2006, up $5 billion or 42 percent compared to a year earlier.
