ABB

The ABB Group ( NYSE: ABB ) is a power and automation technology multinational, headquartered in Zurich, Switzerland. The company was formed in 1988 through a merger between ASEA AB (a pan-Nordic electrical multinational) and BBC Brown Boveri AG (a Swiss group of electrical engineering companies). In addition to being one of the top 10 largest conglomerates in the world (2022), ABB is a leading automation vendor and manufacturer of industrial robots worldwide (2020), and generated USD 29.4 billion revenue in 2022.

ABB’s operations include a portfolio of electrification products and services (Electrification); automation solutions in the transportation, infrastructure, discrete, and process industries (Motion); smart solutions for the process and hybrid industries (Process Automation); and value-added solutions in robotics and machine and factory automation (Robotics & Discrete Automation). Of these, Electrification was the largest in terms of revenue, accounting for ~47% share of total revenue in 2022.  

The company’s revenue in FY2022 was a close split between Europe (~35%), the Americas (~33%), and the Asia, Middle East, and Africa region (~33%), while the US was the largest individual market it served (~24%). In July 2022, ABB reported that it was exiting the Russian market and had begun to wind down its remaining activities there. The company began the process of spinning off its E-mobility business in 2022 and also intends to accelerate the sales growth of its Motion business to outgrow its markets by 1.5x and contribute toward ABB Group’s profitability target.