ABLZF - ABB Ltd. (ABBNY) Q4 2023 Earnings Call Transcript
2024-02-01 07:32:04 ET
ABB, Ltd. (ABBNY)
Q4 2023 Earnings Conference Call
February 1, 2024, 04:00 AM ET
Company Participants
Ann-Sofie Nordh - Head of IR
Bjorn Klas Rosengren - CEO
Timo Ihamuotila - CFO
Conference Call Participants
Andrew Wilson - JPMorgan
Max Yates - Morgan Stanley
Daniela Costa - Goldman Sachs
Gael de-Bray - Deutsche Bank
Sebastian Kuenne - RBC Capital Markets
Andre Kukhnin - UBS
Alexander Virgo - Bank of America Merrill Lynch
Daniel Cunliffe - Societe Generale
Joe Giordano - Cowen & Company
William Mackie - Kepler Cheuvreux
Jonathan Mounsey - Exane BNP Paribas
Sean McLoughlin - HSBC
Presentation
Ann-Sofie Nordh
Greetings to you all, and nice to connect again as I welcome you to this presentation where we will talk through the results for ABB's fourth quarter.
I'm Ann-Sofie Nordh, Head of Investor Relations. And next to me here is our CEO, Bjorn Rosengren; and our CFO, Timo Ihamuotila. They will take you through the presentation, before we open up for questions.
But before we begin, I should mention the information regarding Safe Harbor notices and our use of non-GAAP measures on Slide 2 of the presentation. This call includes forward-looking statements, based on the company's current expectations and assumptions which are subject to risks and uncertainties.
And with that said, we kick off the presentation, and I hand over to you, Bjorn.
Bjorn Klas Rosengren
Thank you, Ann-Sofie, and a warm welcome from me as well. I want to start with some quick reflections on 2023. And I'm proud to say that it was a record year for ABB. Some proof points of our success includes that we improved on all lines in the P&L, and in many cases to new all-time high levels. We delivered record high cash flow and return on capital employed, a great team effort.
So how did we do this? First, it was a solid overall market environment. We have a good business mix, and this year we saw a strong momentum in the long cycle business, which more than offset the weakness in part of the short cycle offerings. In total, our comparable orders improved by 3%, and our book-to-bill ratio was 1.05. ...
ABB, Ltd. (ABBNY) Q4 2023 Earnings Call Transcript