The results come as the ABB Group, the global leader in power and automation technology headquartered in Zurich, Switzerland, today announced record full-year revenues and higher operational EBITDA, net income and free cash flow despite a challenging market environment.
These record revenue figures were achieved with solid performances from our automation businesses, particularly in the oil and gas, and marine sectors, as well as our low voltage products business, which manufactures low-voltage circuit breakers, switches, control products and accessories.
“We showed we can deliver strong results and that our proposition of industrial energy efficiency and productivity is an important one for the Singapore market.” said Haider Rashid, head of ABB in Singapore and the region. “We took important actions in 2012 to build our position and commitment to the vibrant Singapore market, as the region becomes an increasingly important one for ABB globally.”
The growth in Singapore reflects the results of initiatives put in place over the past 2 years. Operations have continued to evolve as markets and technology become ever more sophisticated. For example, since 2011, ABB has been targeting the fast-growing segment of data centers and has gained a strong reputation in this important area, while in the area of smart buildings, it introduced a number of solutions unique to the market.
In 2013, ABB also strengthened its service business, with the opening of a service center on Jurong Island to provide comprehensive services to customers located there. Furthermore a new service sales strategy was put in place, which also contributed to overall performance. It also spearheaded innovation in the robotics field through collaboration with Advanced Remanufacturing and Technology Centre (ARTC), an industry-led centre of the Agency for Science, Technology and Research (A*STAR).
Furthermore, ABB has initiated a strategic drive to take its business to the next level across the region to better penetrate and expand the regional market, while also leveraging the strength and resources of its global businesses. This includes measures to address competitiveness, marketing and culture change.
“Looking ahead, the fundamental long-term drivers of our business, such the need to increase energy and resource efficiency and the growth in renewables all remain intact.” Rashid said. “We plan to strengthen our operations here and across the region, and our global acquisitions of Thomas & Betts and Power-One have strengthened our portfolio and customer offering. The results demonstrate our ability to compete successfully and deliver steady revenues and we’re very confident that by pursuing profitable growth, executing relentlessly and strengthening collaboration, we can continue to do so.”
In Singapore, ABB technologies can be found in landmark engineering projects such as Marina Barrage, Gardens by the Bay and district cooling in the Marina Bay area. Its innovations make significant environmental contributions to developments such as the National Library Building, Asia Square and Punggol Eco-Town, as well as in water and clean-coal cogeneration plants.
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