ABB reported higher orders and revenues in the first quarter of 2012, led by growth in North America. Operational EBITDA declined 7% compared to the same quarter a year earlier while net income was up 5%.

Orders were 2% above the very high levels in the first quarter of 2011, driven mainly by utility investments in power distribution and industrial demand for automation solutions that increase productivity. Order growth mirrored regional economic trends and was weakest in China and southern Europe. Service orders were up 9% and represented 20% of total orders, reflecting progress in implementing the service growth strategy.

Revenues increased in all divisions and were 8% higher than the same quarter a year earlier, led by 21-percent growth in Discrete Automation and Motion (15% organic) and 9% in Power Products. Revenues were also supported by the strong order backlog, which continued to grow in the first quarter and is now at a near-record $29.9 billion. Service revenues grew 12%.

Operational EBITDA was $1.2 billion with an operational EBITDA margin of 13.9%, down 1.8%age points versus Q1 2011 on continuing mix and price pressure that were partly offset by positive volume impacts and cost savings of approximately $260 million.

Today, ABB is reporting solid fourth quarter performance, with 2011 net income up 24%:

• Orders rise 17% (10% organic), revenues up 16% (10% organic)
• Full-year orders hit $40B for first time, record revenues of $38B
• Q4 operational EBITDA up 18%, net income 19% higher
• $1.7B cash from operations in the fourth quarter
• Board of Directors proposes dividend of CHF 0.65 for full year, up 8% versus 2010

Complete details can be found at: http://www.abb.com/cawp/seitp202/9e3b7c54cb3add6ac125799c0032e726.aspx