Switzerland-based power and automation company ABB reported full year sales for 2013 of $41.8 billion, an increase of 6 percent from 2012. Profit increased 3 percent to $2.8 billion.
Fourth quarter sales were $11.4 billion, an increase of 3 percent from the same period the previous year. Profit declined 13 percent to $525 million.
In Europe, strong order growth in Germany—led by automotive and transmission investments—partly compensated order declines in the Nordic countries and Eastern Europe. In the Americas, strong automation order growth in the U.S. was reflected in a double-digit increase in U.S. base orders, whereas large orders declined, mainly in the U.S., Canada and Brazil. Asia orders increased 5 percent on higher demand in India, South Korea and Australia. Orders decreased in China, mainly reflecting lower large orders. Orders increased in the Middle East and Africa on demand for upstream oil and gas products and systems as well as power equipment to reinforce the grid.
