This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.
“It’s a pleasure for me to present the results for the first time as ABB’s CEO. It’s an exciting time to take on this challenge, and I’m looking forward to talking to all of you in the coming months and quarters about how we see the business developing, as well as hearing your views on the company.”=
“We are really encouraged to see orders up strongly in some key markets, for example, in China and in Germany, both at double digits, and steady order intake at high levels in the U.S.”
“Europe looks like it has reached the bottom, but a meaningful upturn is not yet reasonable at this point. Southern Europe is still weak despite a relatively easier comparison this last year. Asia looks more positive, led by China, but India will probably remain challenged until the next year’s election that are coming.”
“it’s a pretty broad pickup and we have to stick with that. We see some hesitancy in some of the process industries, doing more than the typical replacement in maintenance fees, which is not surprising given the large order and the overall demand on there”
“if you look longer term ahead, the subsea area is really an area where you have an opportunity or high opportunity to technologically differentiate yourself from others. To really come out with unique solutions, that technology really matters. There’s a big difference. So I believe putting money into this kind of market makes a lot of sense for us”