ABB Sees Margin, Revenue Improvements In FY19, Medium Term - Quick Facts

(RTTNews) - Swiss engineering firm ABB Ltd.(ANN.L, ABB), at its Annual General Meeting on Thursday, said it expects improvements in revenue growth and margins in 2019 despite the difficult economic conditions.

Going forward, the company said its growth strategy will be based on medium-term outlook of 3 percent to 6 percent annual comparable revenue growth, operational EBITA margin of 13-16 percent and basic earnings per share growth above revenue growth.

In its fiscal 2018, ABB's revenues improved 4 percent and total orders were 8 percent higher, with growth in all divisions and regions, mainly in Robotics and Motion division.

The order backlog at the end of the year was 6 percent higher.

Further, the company said it expects to deliver a rising, sustainable dividend. The Board of Directors will propose a dividend of CHF 0.80 per share to shareholders at the Annual General Meeting.

Following the divestment of 80.1 percent of Power Grids, ABB said it intends to return the net cash proceeds of $7.6 billion to $7.8 billion to shareholders in an expeditious and efficient manner.

In Switzerland, ABB shares were trading at 20.74 Swiss francs, down 1.10 percent.