ABB Group Results - First Nine Months 1997, Parent Companies' Financial Results, ABB AB (Sweden)

ABB AB (Sweden)

ABB AB's share of ABB Group income before taxes and after minority interests for the first nine months of 1997 was US$ 618 million (US$ 670 million for the corresponding period in 1996), a decrease of 8 percent. The US$ has firmed from 1996 to 1997 against the SKr which had a positive effect when translating ABB AB's share in ABB income. After translation, ABB AB's share in ABB Group income before taxes and after minority interests increased by 5 percent from SKr 4,496 million to SKr 4,722 million. ABB AB's income before taxes, including its 50-percent share of ABB Group income before taxes, amounted to SKr 4,720 million (SKr 4,503 million) for the first nine months of 1997, an increase of 5 percent. After taxes of SKr 1,765 million (SKr 1,782 million), net income amounted to SKr 2,955 million (SKr 2,721 million), an increase of 9 percent. ABB AB's net income per share for the first nine months of 1997 amounted to SKr 3.15 (SKr 2.90), an increase of 9 percent.

ABB AB, parent company

Income before taxes amounted to SKr 5 million (first nine months 1996: SKr 15 million). The dividend for the fiscal year 1996 was anticipated in the 1996 accounts and thus only the difference (SKr 7 million) between dividend actually received and dividend anticipated is included in the first nine months of 1997.

Auditors' examination

The report has not been subject to special examination by the Company's auditors.

ABB AB Income Statements (Swedish Krona in millions)
ABB AB (1)
ABB AB, parent company
1-9/97 1-9/96 1-9/97 1-9/96
Share in ABB Group income before taxes and after minority interests 4,722 4,496
Dividend income (2) 7 8
Administrative costs -9 -17 -9 -17
Interest income 7 25 7 25
Interest expense 0 -1 0 -1
Income before taxes 4,720 4,503 5 15
Taxes -1,765 -1,782 -- --
Net income 2,955 2,721 5 15

1) ABB AB's share in the ABB Group results recognized according to the equity method.

2) Income before taxes includes SFr 325 million (SFr 260 million) dividend received from ABB Asea Brown Boveri Ltd, which corresponds to SKr 1,652 million (SKr 1,498 million), of which SKr 1,645 million (SKr 1,490 million) was anticipated in the financial statement of 1996 (1995).

ABB Group Revenues are basically in line with 'Net Turnover' as defined in the Swedish Annual Accounts Act. 'Operating Income' as defined in the Swedish Annual Accounts Act amounts for the ABB Group to US$ 23,089 million for 1-9/97, US$ 24,812 million for 1-9/96, and US$ 34,022 million for 1996.

  • First Nine Months 1997
  • Consolidated Income Statement
  • Parent Companies' Financial 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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