www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Companies

ABB sees stable growth despite tough market

By Zhou Siyu | China Daily | Updated: 2013-03-07 10:12

ABB sees stable growth despite tough market

ABB China's booth at a trade show in Beijing last year. ABB invested $120 million in China last year, boosting its total investment in the country to more than $1.6 billion over the last decade. [Photo/China Daily]

ABB China, the Chinese unit of the Swiss-Swedish multinational engineering company ABB Ltd, registered stable annual sales growth in 2012, despite difficult local industrial conditions.

In a financial statement issued on Wednesday the company said sales in China grew by 2 percent to $5.2 billion, which it put down to the country's ongoing infrastructure program as well as surging exports to neighboring countries.

However, officials said the past year had been a tough one for the group.

Competing with companies such as Siemens AG, ABB saw its group profit in the third quarter drop by 4 percent to $759 million, compared with an average analyst forecast for $764 million, according to a Reuters poll.

Strong demand in China in the fourth quarter, however, helped the group beat quarterly forecasts, sending its shares to one of their highest points in 18 months, said Reuters.

ABB China President Claudio Facchin told a press conference in Beijing that revenue had been "stable" for the whole of 2012, despite an economic situation "more challenging than expected".

According to the group's financial statement, overall revenues grew to $39 billion from $38 billion a year earlier while profits declined to $2.7 billion from $3.2 billion a year ago. No profit figures were released for China.

Facchin added the company will "remain cautious about China's market volatility" in 2013, as the country bids to transform its economic model and growth remains slower than in the past.

In the meantime, given the scale and maturity of its industrial economy, the company will also continue investing in China, especially boosting its presence in the less prosperous second- and third-tier cities, he added.

ABB invested $120 million in China last year, boosting its total investment in the country to more than $1.6 billion over the last decade - a strong commitment to a local engineering sector which suffered an overall downturn during the past 12 months.

Because of high government investment in the national grid in previous years, significant expansion in the sector is unlikely.

"Increased investments in the State grid may have hit a ceiling," said Li Gen, an analyst with Dongxing Securities Co.

"A lower but steady expansion will become the new industry norm over the next few years," he added.

Profits for electrical and power equipment companies listed on China's stock market suffered a 41 percent decline during the first half of 2012, according to industry reports, one of the lowest readings over the past decade.

zhousiyu@chinadaily.com.cn

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 91精品乱码一区二区三区 | 欧美性精品videofree | 国产欧美日韩在线一区二区不卡 | 91热久久免费精品99 | 久久精品亚洲综合一品 | 精品精品国产自在久久高清 | 亚洲骚片| 欧美一区二区三区在观看 | 亚洲欧美在线视频免费 | 91成人在线播放 | 国产一区2区 | 欧美搞黄视频 | 免费一级特黄欧美大片勹久久网 | 在线播放另类 | aaa级大片 | 国产91久久精品 | 国产91精品一区二区麻豆亚洲 | 欧美一级欧美一级高清 | 成人免费视频一区二区 | 国产激情一区二区三区成人91 | 国产高清在线精品一区二区 | 黄a网站| 亚洲最新视频在线观看 | 中国a级淫片免费播放 | 精品国产一区二区三区久久影院 | 成人精品一区二区三区 | 欧美级毛片 | 一区二区三区免费高清视频 | 国产韩国精品一区二区三区久久 | 一级亚洲 | 日韩欧美一级毛片精品6 | 97国产在线观看 | 国产一级久久免费特黄 | 青青爽国产手机在线观看免费 | 精品久久久久久国产 | 欧美手机在线 | 日韩精品在线观看免费 | 手机看片1024精品国产 | 国产日韩精品一区二区在线观看 | 久久在线资源 | 人人公开免费超级碰碰碰视频 |