Swiss-based ABB ( ABB) focuses on large infrastructure projects such as power plants, transit systems and utility networks. These projects take a number of years to complete, and so the company is always working through a considerable backlog that helps to smooth out the annual results. Consider that ABB has generated at least $1 billion in free cash flow in each of the past six years. Still, more than $20 billion in market value has been wiped out over the past 52 weeks. Despite the severe current economic pressures, ABB still has an ample amount of backlog to work through which explains why analysts expect sales to rise around 7% in 2012 and again in 2013, to around $44 billion. EPS should rise at a commensurate rate, hitting a projected $1.70 in 2013. That would be a company record, and likely sets the stage for continued growth in the dividend, which has already risen from 48 cents a share in 2009 to a recent 70 cents. To see these stocks in action, visit the 5 Deeply Discounted European Blue-Chips portfolio.