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ABB Management Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: ABB

Turning to Chart 5. Steady on higher demand in most regions. And so this is a good chart, in a sense, when you look around the globe where we stand. Starting from the left-hand side, you can see the Americas are up 20%, overall; excluding Thomas & Betts, up 10%. And really good progress in both power and automation, power, up 26%; and automation, up 16%. So we were pleased with what we see in the Americas for this quarter. Moving to the right, we look at the Middle East and Africa, up 34%, and good progress in both power and automation in that area. And it's good that we could drive some good orders realization in that part of the world for this quarter.

Moving more to the right is ASIA, minus 1%. In the next page, we'll talk more about how we can dissect Asia for you, and how that works. But overall, power, up 12%; and automation, down 8%.

And then in Europe, up 2%: with automation, up 4%; and power, up 2%, in that sense. And we were really pleased to see Europe as strong as it was from an order standpoint, given the economic uncertainty that obviously exists in Europe right now.

Moving to Chart 6. This just breaks down from a country standpoint more than how we look at things at regions, so you can get a better look at the business. You see Canada was up 30%, up 10% excluding T&B. United States is up 13%, and exclude T&B, overall. And Brazil, up 12%. When you look up above, on Norway, plus 47%. A lot of that has to do with marine and then oil and gas is associated with marine. The U.K. up 35%. You can see Russia up 15%. Germany, down 10%. We have 1 tough comparison, Discrete Automation and Motion in Germany. But overall, you see the German side down. We talked about a two-tier Europe though, with Spain, minus 30%; and Italy, minus 13%. We continue to see pressure in that area. We had strong orders in Oman, up 10x, particularly in our power automation business, overall, in the power and automation businesses. India was up 11%. In fact, we saw good operations turn around in India, too, which is establishing a positive trend force. China was down 2% overall, but the Low Voltage Products, which is our biggest concern in the first quarter, actually came back pretty strongly. And then you can see Australia is up 49%. And again, that's the mining industry there, primarily, and that teams are doing a good job in driving our portfolio in that industry in Australia.

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