ABB Group Results - First Nine Months 1997, Parent Companies' Financial Results, ABB AGB (Switzerland)

ABB AG (Switzerland)

ABB AG'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 SFr which had a positive effect when translating ABB AG's share in ABB income. After translation, ABB AG's share in ABB Group income before taxes and after minority interests increased by 11 percent from SFr 811 million to SFr 897 million. ABB AG's income before taxes, including its 50-percent share of ABB Group income before taxes, amounted to SFr 917 million (SFr 829 million) for the first nine months of 1997, an increase of 11 percent. After taxes of SFr 340 million (SFr 324 million), net income amounted to SFr 577 million (SFr 505 million) for the period, an increase of 14 percent. ABB AG's net income per bearer share for the first nine months of 1997 amounted to SFr 62.35 (SFr 55.40), an increase of 13 percent.

ABB AG, parent company

Income before taxes amounted to SFr 345 million (SFr 278 million) including SFr 325 million (SFr 260 million) dividend received from ABB Asea Brown Boveri Ltd.

Auditors' examination

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

ABB AG Income Statements

(Swiss Francs in millions)

ABB AG (1)

ABB AG,

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

897

811

_

_

Dividend income

_

_

325

260

Other operating income

3

3

3

3

Administrative costs

-3

-9

-3

-9

Interest income

24

32

24

32

Interest expense

-4

-8

-4

-8

Income before taxes

917

829

345

278

Taxes

-340

-324

-4

-3

Net income

577

505

341

275

1) ABB AG\022s share in the ABB Group results recognized according to the equity method.


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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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