ABB reports what they say are really good numbers for 2006 Q3 in process automation:
Process Automation Division
2006 Q3 key figures | Q3 06 | Q3 05 | Change | |
$ millions unless otherwise indicated | US$ | Local | ||
Orders | 1,828 | 1,227 | 49% | 44% |
Revenues | 1,322 | 1,183 | 12% | 9% |
EBIT | 139 | 88 | 58% | |
EBIT margin (%) | 10.5% | 7.4% | ||
Cash flow from operating activities | 171 | 45 | ||
Demand for automation solutions grew in all sectors and regions. This was primarily driven by the continued efforts of customers to expand capacity and to increase the efficiency and productivity of their facilities. The trend resulted in an exceptional increase in large orders. The businesses with the strongest growth were oil and gas and minerals, supported by marine, pulp and paper and performance services.Regionally, orders were higher in the Middle East and Africa, driven mainly by large orders from the oil and gas industry. Orders in Europe increased as customers expanded in the emerging markets of the east, and the Americas benefited from demand in the pulp and paper sector and for performance services. Orders declined in Asia, mainly reflecting a reduction in the scope of work on a previously booked project in Thailand.
Revenues rose in the third quarter, reflecting the progress made on the significant backlog of large orders and an increase in the service business. Strong execution of large projects and increased revenues from services contributed to the improvement in EBIT and EBIT margin compared with the third quarter of 2005.
