The company reported first quarter results. Order intake dropped 11% to US$9.25bn and the order backlog increased 2% to US$25.98bn. Revenues declined 7.6% to US$7.9bn but the gross margin increased from 29.2% to 29.8%. Product revenues declined 8.8% to US$6.5bn and service revenues only 1.8% to US$1.4bn. The EBIT margin declined from 10.1% to 9.9%. EBIT of the Electrification division dropped 7.1%, Discrete Automation & Motion -20% and Process Automation -17.1%. EBIT of the Power Grid div
20 Apr 2016
Solid performance in a weak environment
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Solid performance in a weak environment
- Published:
20 Apr 2016 -
Author:
Heinz Steffen -
Pages:
2
The company reported first quarter results. Order intake dropped 11% to US$9.25bn and the order backlog increased 2% to US$25.98bn. Revenues declined 7.6% to US$7.9bn but the gross margin increased from 29.2% to 29.8%. Product revenues declined 8.8% to US$6.5bn and service revenues only 1.8% to US$1.4bn. The EBIT margin declined from 10.1% to 9.9%. EBIT of the Electrification division dropped 7.1%, Discrete Automation & Motion -20% and Process Automation -17.1%. EBIT of the Power Grid div