First Nine Months 1996 Consolidated Income Statement

(US$ in millions)

1-9/96 1-9/95 1995
Revenues 24,083 23,322 33,738
Material expenses -11,121 -10,439 -14,604
Personnel expenses -7,656 -7,558 -10,246
Other expenses -3,727 -3,722 -5,410
Changes in work in progress and finished goods 1,283 1,172 572
Depreciation of fixed assets -775 -758 -1,021
Unusual items (2) 14 4 246
Operating Earnings after Depreciation 2,101 2,021 3,275

Earnings from equity accounted companies 4 8 12
Dividend income 9 8 14
Interest income 277 406 509
Interest on advances -554 -702 -987
Interest expense -473 -572 -694
Exchange differences 1 -15 -19
Income before Taxes 1,365 1,154 2,110

Taxes -543 -485 -749
Net Income before Minority Interest 822 669 1,361

Minority Interest -13 -18 -46
Net Income 809 651 1,315

  1. The ABB Daimler-Benz Transportation Group was formed as of December 31, 1995, and started its operations in 1996. This Group is included on a proportionate basis (50 percent of each position) in ABB's income statement for 1996.
  2. All items related to:
    • capital gains/losses on sales of participations, land and buildings
    • discontinued operations
    • one-time effects of changes in accounting principles (only 1995)
are recorded under "Unusual Items" and included in operating earnings after depreciation.

Note: Exchange rates used in the above income statement are average for the periods shown. The average exchange rates for the Swiss franc, Swedish krona, German mark and the European Currency Unit are stated below:

1-9/96 1-9/95 1995
USD 1.00 = SFr.: 1.21 1.19 1.18
USD 1.00 = SKr.: 6.71 7.28 7.11
USD 1.00 = DM: 1.49 1.43 1.43
USD 1.00 = ECU: 0.80 0.77 0.77

During the first nine months of 1996, changes in exchange rates did not have any significant impact on reported results.


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    Contact us

    • Mr. John Fox
      ABB Corporate Communications, Zurich
      Tel. +41 1 317 7371
      Fax. +41 1 317 7958
    • Ms. Ann Sophie Joensson
      ABB Investor Relations, Zurich
      Tel. +41 1 317 7338
      Fax. +41 1 311 9817
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