Swiss power and automation giant ABB has announced higher revenue and earnings for the third quarter of 2013.
The company, which finalised the US$1 billion takeover of inverter manufacturer Power-One during the summer, also saw its margin across the entire group rise to 15.7% from 15.3% during the same period last year.
Revenue in the Discrete Automation and Motion division, into which Power-One was integrated, rose 10%, US$233 million, compared to the third quarter of last year.
“It was a solid quarter where we executed well to grow revenues, earnings, cash and net income despite the continued mixed business climate,” said Ulrich Spiesshofer, CEO, ABB.
“We drove good order growth in a number of key markets, including China and Germany, and our base orders returned to year-over-year growth. Project tendering activity in sectors like power transmission and oil and gas continues to increase but the award of large orders remained slow,” he added.