ABB Increases Orders in Germany
Despite the difficult market environment, the German ABB performed well in the 2014 financial year.
The company booked 2.4 per cent more orders in the home market over the previous year increasing the ration of all orders secured from Germany to 53 per cent.
On the other hand, the total order intake, sales, operating EBITDA and cash flow decreased as the result of the slow implementation of the energy transition that inhibits the necessary investments.
The most important job in 2014 was at Butendiek offshore wind farm awarded in October. The company was contracted to design, engineer, supply and install an Alternating Current (AC) power transmission cable system that will connect the offshore wind farm in the German North Sea, to the HVDC (high voltage direct current) converter platform SylWin alpha.
Due to the lower order backlog at the beginning of the year and the lower orders, sales fell by four per cent and amounted to EUR 3.22 billion. EBITA was also lower at EUR 269 million compared to EUR 332 million from the previous year.