ABB Ltd (ABB) Q4 2019 Earnings Call Transcript

ABB Ltd (ABB) Q4 2019 Earnings Call Transcript

With me today are ABB's Chairman and current Chief Executive Officer, Peter Voser, and ABB's Chief Financial Officer, Timo Ihamuotila.. The statements are based on the Company's current expectations and certain assumptions, and are subject to certain risks and uncertainties.. There will be plenty of time to take your questions at the end.. Total orders of $28.6 billion, and the revenues of $28 billion, were both up 1% year-on-year on a comparable basis.. Cash flow from continuing operating activities was reassuringly solid at $1.9 billion, including outflows related to the ABB-OS simplification program, and Power Grids and solar inverter businesses carve-out processes totaling over $200 million.. We are seeing resilience in our business, and are starting to see the effects of the improvements we are making to our operating model.. In Industrial Automation, margins were impacted specifically by a large project reevaluation in the third quarter as well as adverse mix.. Margins in Robotics & Discrete Automation were impacted by lower volumes and adverse mix, stemming from the downturn in its key end markets.. Overall, orders grew 1% with the order backlog showing a 5% improvement year-on-year, while revenues were 2% lower, also reflecting a tough comparison base for select