Kvartalsrapport Q2 2024

Automatiskt nyckeltalsindex

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===== SIDA 1 =====

— 
ZURICH, SWITZERLAND, JULY 18, 2024 
Q2 2024 results 
Solid demand; record-high Operational EBITA margin 
 
 
• Orders $8,435 million, -3%; comparable1 0%  
• Revenues $8,239 million, +1%; comparable1 +4%  
• Income from operations $1,376 million; margin 16.7%  
• Operational EBITA1 $1,564 million; margin1 19.0% 
• Basic EPS $0.59; +22%2 
• Cash flow from operating activities $1,067 million; +40%
— 
“In the second quarter, demand was solid and the Operational EBITA margin reached the 
all-time-high level of 19%. I am confident that ABB will continue to deliver long-term 
shareholder value in line with its targets as Morten Wierod takes over as CEO next month.” 
 
Björn Rosengren, CEO 
KEY FIGURES         
   CHANGE   CHANGE 
($ millions, unless otherwise indicated) Q2 2024 Q2 2023 US$ Comparable1 H1 2024 H1 2023 US$ Comparable1 
Orders 8,435 8,667 -3% 0% 17,409 18,117 -4% -2% 
Revenues 8,239 8,163 1% 4% 16,109 16,022 1% 3% 
Gross Profit 3,174 2,888 10%  6,109 5,604 9%  
as % of revenues 38.5% 35.4% +3.1 pts  37.9% 35.0% +2.9 pts  
Income from operations 1,376 1,298 6%  2,593 2,496 4%  
Operational EBITA1 1,564 1,425 10% 12% 3  2,981 2,702 10% 11% 3  
as % of operational revenues1 19.0% 17.5% +1.5 pts  18.4% 16.9% +1.5 pts  
Income from continuing operations, net of tax 1,104 932 18%  2,018 1,997 1%  
Net income attributable to ABB 1,096 906 21%  2,001 1,942 3%  
Basic earnings per share ($)  0.59 0.49 22%2  1.09 1.04 4%2  
Cash flow from operating activities 1,067 760 40%  1,793 1,042 72%  
Free cash flow 918 606 51%  1,469 768 91%  
          
1 For a reconciliation of alternative performance measures, see “supplemental reconciliations and definitions” in the attached Q2 2024 Financial Information. 
2 EPS growth rates are computed using unrounded amounts. 
3 Constant currency (not adjusted for portfolio changes). 
  
 
Ad hoc Announcement pursuant to Art. 53 Listing Rules of SIX Swiss Exchange 
 
 
 
 
— 
Q2 2024 
First six months 
Press Release

===== SIDA 2 =====

AB B  IN TE RIM RE P ORT  I Q2  20 24  2 
 
The second quarter was, in my view, another proof point 
that the operational changes from the introduction of the 
ABB Way in 2020 are making ABB a sustainably well-running 
company. We reached a new record-high Operational EBITA 
margin, good cash flow and we announced a somewhat 
more sizeable acquisition. Overall, I am pleased with the 
outcome.  
Comparable orders remained on par with last year’s high 
level, supported by strong improvements in both the 
Electrification and Process Automation business areas. This 
was however offset by weakness primarily in the Machine 
Automation and E-mobility businesses, as well as by a 
softening from a fairly challenging comparable in the 
Motion business area. We saw short-cycle orders improve, 
hence turning a corner after several quarters of decline. In 
the project- and systems-related businesses we see a 
continued solid underlying customer activity with an intact 
robust project pipeline. 
Revenues amounted to the high level of $8.2 billion, yet we 
still managed to deliver a positive book-to-bill of 1.02. With 
the first half of this year at 1.08 and the currently expected 
overall solid market environment, we feel confident in 
reaching a positive book-to-bill for 2024. Operational EBITA 
margin was 19.0%, supported by both higher volumes and 
positive price impacts, with the Corporate line items also 
contributing positively on aggregate. 
Free cash flow of $918 million improved from last year and 
the run-rate of $1.5 billion in the first half of the year leaves 
us in a good position to deliver on our annual ambition to 
be at least at a similar level as last year. 
Enabling a low-carbon society is at the core of ABB’s 
business, and we are pleased that our scope 1, 2 and 3 
targets for 2030 and 2050 were approved by the Science 
Based Target initiative (SBTi), in accordance with the Paris 
Agreement. We are committed to reduce our scope 1 and 2 
emissions by 80 percent by 2030 and 100 percent by 2050. 
With our new scope 3 target of reducing absolute emissions 
by 25% from a 2022 baseline, we will increase our 
engagement with our value chain partners on 
decarbonization whilst providing products and solutions to 
our customers to enable them to scale-up renewables, 
increase energy efficiency, electrify processes and reduce 
emissions. 
One example of how we drive R&D towards energy efficient 
solutions, is the newly launched OmniCore control platform 
which enables robots to operate up to 25% faster and 
consume up to 20% less energy compared with the 
previous version. OmniCore enables management of 
motion, sensors and application equipment in a unique, 
single control architecture – one platform, and one 
language that integrates our complete range of leading 
hardware and software. 
 
As an extension of our R&D activities we invest in minority 
stakes in technology start-ups, which later may be fully 
integrated into the ABB family. For example, during the 
quarter we invested in two clean technology start-ups – 
Ndustrial and GridBeyond – offering AI powered solutions 
for real time optimized energy consumption for accelerated 
decarbonization as well as optimized distributed energy 
resources and industrial loads. 
It was very good to see the Electrification business area 
announcing a somewhat more sizeable acquisition. When 
the deal closes, the Smart Buildings division will expand its 
portfolio with the acquisition of Siemens’ Wiring 
Accessories business in China, which generated more than 
$150 million in revenues in 2023. The acquisition will 
broaden our market reach and complement the regional 
customer offering to a full range of safe and reliable smart 
buildings technology. 
Both myself and Morten – who soon assumes the role of 
ABB CEO – are thrilled about the internal appointments of 
Giampiero Frisio as the new President of the Electrification 
Business Area and Brandon Spencer as the new President of 
the Motion Business Area. Both are proven leaders with 
strong ABB Way leadership track records, driving profitable 
growth in two of our largest Divisions. 
I am very proud of having been a part of ABB. Above all I feel 
privileged to have gotten to know the people – a very 
capable and committed team with a passion for business. 
Leveraging the ABB Way operating model has contributed 
to bringing our financial performance towards a best-in-
class level, and fully integrating ABB sustainability as part of 
our core customer proposition as well as driving our own 
operations to being part of a low carbon industrial solution. 
When Morten takes over as CEO from next month, he will 
bring his vast experience of our leading technology and his 
customer understanding from his 25+ years in the ABB 
commercial front lines. I am confident that he will challenge 
the team to further refine the ABB Way for profitable and 
sustainable growth. As I retire from ABB, I wish all future 
success for the team. 
 
 
 
Björn Rosengren 
CEO 
 
In the third quarter of 2024, we anticipate a sequentially 
higher growth rate in comparable revenues and the 
Operational EBITA margin be around 18.5%, or slightly 
below. 
In full-year 2024, we expect a positive book-to-bill, 
comparable revenue growth to be about 5% and the 
Operational EBITA margin to be about 18%.
Outlook 
CEO summary

===== SIDA 3 =====

AB B  IN TE RIM RE P ORT  I Q2  20 24  3 
 
Order intake amounted to $8,435 million, representing a 
year-on-year decline of 3% (0% comparable). Strong 
order growth was recorded for both the Electrification 
and Process Automation business areas. This was 
however offset by weakness primarily in the discrete 
automation-related Machine Automation division and in 
the E-mobility business. Order intake in the Motion 
business area also declined from a fairly challenging 
comparable. Overall, there was a positive development 
in the short-cycle orders. The underlying business 
environment in the projects and systems businesses 
remained robust, although large order bookings 
declined from last year’s high level. 
The market environment in the Americas was strong, 
however order intake dropped by 6% (4% comparable) 
due to the impact of timing of large orders booked last 
year, mainly linked to the United States. Europe declined 
by 5% (4% comparable) mainly related to the weak 
demand in the machine builder segment in Robotics and 
Discrete Automation. Asia, Middle East and Africa 
improved year-on-year by 4% (9% comparable) on 
strong comparable development in countries like 
Australia and parts of the Middle East, offsetting the 
decline in China. The market environment in China is 
stabilizing, with both the Electrification and Motion 
business areas recording only low single-digit declines 
year-on-year. Sequentially, group orders remained 
stable in China.  
In transport & infrastructure, there were positive 
developments in marine, ports and rail.  
In the Industrial areas a particularly strong development 
was seen in data centers. 
Orders in the buildings segment improved overall, due 
to the combined impact from a positive development in 
the commercial area, most pronounced in the United 
States, while the residential segment was weak in all 
regions.  
In the robotics-related segments, orders declined in 
automotive but improved in general industry and 
consumer-related segments. The machine builder 
segment declined as customers normalized order 
patterns after earlier pre-buys and a softer underlying 
market. 
In the process-related areas, orders improved in power 
generation, chemicals, while customer activity remained 
broadly stable in oil & gas, with a negative order 
development in pulp & paper, metals and mining. 
Revenues of $8,239 million improved by 1% (4% com-
parable) mainly driven by volumes, but also by positive price 
developments. Execution of the strong order backlog, 
added to the broadly stable development in the short-cycle 
businesses. 
 
 
Growth 
  
 Q2 Q2 
Change year-on-year Orders Revenues 
Comparable 0% 4% 
FX -2% -2% 
Portfolio changes -1% -1% 
Total -3% 1% 
 
Orders by region 
($ in millions, 
unless otherwise 
indicated) 
  CHANGE 
Q2 2024 Q2 2023 US$ Comparable 
Europe 2,786 2,931 -5% -4% 
The Americas 3,031 3,209 -6% -4% 
Asia, Middle East 
and Africa 2,618 2,527 4% 9% 
ABB Group 8,435 8,667 -3% 0% 
 
Revenues by region 
($ in millions, 
unless otherwise 
indicated) 
  CHANGE 
Q2 2024 Q2 2023 US$ Comparable 
Europe 2,831 2,935 -4% -2% 
The Americas 2,960 2,815 5% 8% 
Asia, Middle East 
and Africa 2,448 2,413 1% 5% 
ABB Group 8,239 8,163 1% 4% 
 
 
     
 
 
Orders and revenues

===== SIDA 4 =====

AB B  IN TE RIM RE P ORT  I Q2  20 24  4 
 
Gross profit 
Gross profit increased by 10% (12% constant currency) year-on-
year to $3,174 million, reflecting a gross margin improvement 
of 310 basis points to 38.5%. Gross margin improved in three 
out of four business areas.  
Income from operations 
Income from operations amounted to $1,376 million and 
improved by 6% year-on-year. This was driven primarily by a 
stronger operational performance with some additional 
support from currency hedges year-on-year, which more than 
offset the impacts from higher restructuring expenses as well 
as gains and losses from sale of businesses. Margin on Income 
from operations was 16.7%, up by 80 basis points.  
 
Operational EBITA  
Operational EBITA improved by 10% year-on-year to $1,564 
million and the margin increased by 150 basis points to a new 
all-time-high of 19.0%. Contribution from operational leverage 
on higher volumes and a positive price impact more than 
offset the slightly higher expenses related to Research & 
development (R&D) and Selling general and administrative 
(SG&A) expenses. Operational EBITA in Corporate and Other 
amounted to -$67 million. The Corporate-related items netted 
out to a contribution of $20 million. This is the total of 
underlying Corporate operational expenses of approximately 
$55 million and positive impacts of about $75 million related 
to a reduction of a self-insurance provision and a provision 
reversal linked to the non-core business. The remaining -$87 
million relate to the E-mobility business, which recorded $48 
million of impairments primarily linked to inventories. The 
operational performance was hampered by the ongoing 
reorganization to ensure a more focused portfolio. 
Finance net 
Net finance income contributed to results with a positive $33 
million, an improvement from last year’s expense of $25 million. 
The year-on-year improvement is due to a combination of a 
lower net debt position and favorable mix of interest rates 
between borrowings and cash deposits.  
Income tax 
Income tax expense was $315 million with an effective tax rate 
of 22.2%, lowered by about 500 basis points due to a 
reassessment of certain tax risks.    
Net income and earnings per share 
Net income attributable to ABB was $1,096 million, representing 
an increase of 21% from last year, driven by improved operational 
performance, the contribution from net financial income and the 
lower tax rate. This resulted in basic earnings per share of $0.59, 
up from $0.49 in the last year period. 
 
 
Earnings 
 
 
 
 
 
 
Corporate and Other 
Operational EBITA   
   
($ in millions) Q2 2024 Q2 2023 
Corporate and Other   
E-mobility (87) (67) 
Corporate costs, intersegment 
eliminations and other1 20 (76) 
Total (67) (143) 
1 Majority of which relates to underlying corporate

===== SIDA 5 =====

AB B  IN TE RIM RE P ORT  I Q2  20 24  5  
 
Net working capital 
Net working capital amounted to $3,607 million, 
decreasing year-on-year from $4,585 million as lower 
inventories, higher customer advances and higher 
accounts payable more than offset an increase in 
contract assets. Net working capital as a percentage of 
revenues1 was 11.2%, a decline from 14.7% one year ago, 
improving in virtually all key components of net working 
capital. 
Capital expenditures 
Purchases of property, plant and equipment and 
intangible assets amounted to $185 million.  
Net debt 
Net debt1 amounted to $2,480 million at the end of the 
quarter and decreased from $4,165 million year-on-year. 
The decrease was mainly driven by strong free cash flow. 
The sequential increase from $2,086 million was due 
mainly to the second portion of the dividend payment and 
the purchase of treasury stock, partially offset by strong 
operating cash flows.  
Cash flows 
Cash flow from operating activities was $1,067 million and 
increased year-on-year from $760 million. All business areas 
increased cash flow from operating activities, driven 
primarily by a lower build-up of net working capital year-on-
year, mainly related to inventories and trade receivables as 
well as to a sequential increase in accounts payables. 
Additional support stemmed from a slight increase in 
operational performance. 
Share buyback program 
A new share buyback program of up to $1 billion was 
launched on April 1, 2024, and will run to January 31, 2025. 
During the second quarter, ABB repurchased a total of 
3,754,257 shares for a total amount of approximately $190 
million. ABB’s total number of issued shares, including 
shares held in treasury, amounts to 1,860,614,888. 
 
 
 
 
Balance sheet & Cash flow 
 
  
($ in millions,  
unless otherwise indicated) 
Jun. 30 
2024 
Jun. 30 
2023 
Dec. 31 
2023 
Short term debt and current 
maturities of long-term debt 410  3,849  2,607  
Long-term debt 6,338  4,451  5,221  
Total debt 6,748  8,300  7,828  
Cash & equivalents 2,961  2,923  3,891  
Restricted cash - current 18  19  18  
Marketable securities and  
short-term investments 1,289  1,193  1,928  
Cash and marketable securities 4,268  4,135  5,837  
Net debt (cash)* 2,480  4,165  1,991  
     
Net debt (cash)* to EBITDA ratio 0.4  0.8  0.4  
Net debt (cash)* to Equity ratio 0.18  0.31  0.14  
* At June 30, 2024, June, 30, 2023 and Dec. 31, 2023, net debt(cash) excludes net pension 
(assets)/liabilities of $(241) million, $(328) million and $(191) million, respectively.

===== SIDA 6 =====

AB B  IN TE RIM RE P ORT  I Q2  20 24  6 
 
Orders and revenues 
In a buoyant market environment, Electrification orders 
benefited from strong growth in the short-cycle 
businesses and solid underlying project- and systems-
related customer activity, although large order bookings 
softened somewhat from last year’s record-high level. 
Total order intake amounted to $4,073 million, up 3% 
(7% comparable) year-on-year. 
• Orders remained stable or increased in most 
customer segments with particular strength in data 
centers and infrastructure. The buildings segment 
also improved supported by a positive development in 
the commercial area driven by the United States, 
which more than offset weakness in the residential 
area.  
• From a geographical perspective comparable order 
intake improved in all three regions. Europe was up by 
5% (7% comparable) with growth in all the larger 
markets. Growth in the Americas was hampered by 
the timing of project orders booked in last year’s 
period and remained overall stable, (up 4% 
comparable) supported by the United States at 4% 
(8% comparable). In Asia, Middle East and Africa 
orders improved by 5% (12% comparable) with strong 
growth in countries like India. This offset a slight drop 
in China of 7% (3% comparable) year-on-year, with 
steady sequential market development.  
• Revenues increased by 2% (7% comparable) to an all-
time-high level of $3,809 million with stable to 
positive developments in all divisions. Growth was 
primarily due to higher volumes, with additional 
support from positive price impacts. 
 
Profit 
Record-high Operational EBITA of $887 million and an 
all-time-high Operational EBITA margin of 23.2%, up by 
210 basis points year-on-year. 
• Operational leverage on higher volumes and impact 
from continuous improvement measures were the 
key drivers to the higher margin, year-on-year. 
Additional support was derived from a positive price 
impact.  
• Margins improved in virtually all divisions. 
— 
Electrification 
 
 
  
   CHANGE   CHANGE 
($ millions, unless otherwise indicated) Q2 2024 Q2 2023 US$ Comparable H1 2024 H1 2023 US$ Comparable 
Orders 4,073 3,960 3% 7% 8,465 8,101 4% 7% 
Order backlog 7,548 7,298 3% 11% 7,548 7,298 3% 11% 
Revenues 3,809 3,735 2% 7% 7,489 7,325 2% 7% 
Operational EBITA 887 787 13%  1,713 1,464 17%  
as % of operational revenues 23.2% 21.1% +2.1 pts  22.8% 20.0% +2.8 pts  
Cash flow from operating activities 850 697 22%  1,397 1,092 28%  
No. of employees (FTE equiv.) 51,100 51,800 -1%      
 
Growth 
  
 Q2 Q2 
Change year-on-year Orders Revenues 
Comparable 7% 7% 
FX -2% -2% 
Portfolio changes -2% -3% 
Total 3% 2%

===== SIDA 7 =====

AB B  IN TE RIM RE P ORT  I Q2  20 24  7 
 
Orders and revenues 
Motion recorded yet another quarter with order intake 
at the $2 billion level, with book-to-bill at 1.03. A positive 
development in the short-cycle orders was noted, while 
orders in the divisions more linked to project- and 
systems-related demand declined from last year’s 
record-high levels, although showing a stable trend 
compared with recent quarters. In total, order intake 
declined by 6% (4% comparable). 
• Order momentum was the strongest in the rail and 
power generation segments, with a positive 
development also in HVAC driven by commercial 
buildings. Oil & gas declined from last year’s high level 
and some slowness was noted in metals and 
chemicals.  
• Orders in Asia, Middle East and Africa improved by 1% 
(5% comparable) supported by a strong development 
in for example India, while China softened slightly by 
4% (1% comparable). Europe declined by 5% (4% 
comparable) and the Americas dropped by 13% (14% 
comparable) primarily due to the lower large order 
bookings, compared with last year. 
• Revenues amounted to $1,951 million and declined by 
2% (1% comparable) as support from execution of the 
order backlog and a positive price impact was more 
than offset by lower volumes in the short-cycle areas 
as the order improvement did not yet convert to 
revenues. 
Profit  
Operational EBITA of $388 million declined by 3% and 
the Operational EBITA margin softened by 50 basis 
points to 19.9%, year-on-year. 
• Operational leverage on the lower production volumes 
in the short-cycle businesses more than offset 
improved profitability in divisions linked to the 
project- and systems offering. 
• Positive pricing impacts were more than offset by the 
adverse mix effects triggered by a lower share of 
revenues stemming from the short-cycle businesses, 
and higher expenses related to R&D and SG&A, year-
on-year.  
 
  
— 
Motion 
   CHANGE   CHANGE 
($ millions, unless otherwise indicated) Q2 2024 Q2 2023 US$ Comparable H1 2024 H1 2023 US$ Comparable 
Orders 2,014 2,137 -6% -4% 4,317 4,399 -2% -1% 
Order backlog 5,669 5,322 7% 8% 5,669 5,322 7% 8% 
Revenues 1,951 1,981 -2% -1% 3,780 3,921 -4% -3% 
Operational EBITA 388 401 -3%  731 767 -5%  
as % of operational revenues 19.9% 20.4% -0.5 pts  19.2% 19.6% -0.4 pts  
Cash flow from operating activities 509 320 59%  861 469 84%  
No. of employees (FTE equiv.) 22,700 22,200 2%      
 
 
Growth 
  
 Q2 Q2 
Change year-on-year Orders Revenues 
Comparable -4% -1% 
FX -2% -2% 
Portfolio changes 0% 1% 
Total -6% -2%

===== SIDA 8 =====

AB B  IN TE RIM RE P ORT  I Q2  20 24  8 
 
Orders and revenues 
Order intake of $1,802 million increased by 8% (10% 
comparable) from last year’s low comparable and 
remained on par with recent quarters. Market activity 
remained buoyant with a robust and intact project 
pipeline. Book-to-bill was positive at 1.05. 
• Quarterly order intake can be volatile in Process 
Automation, and in the second quarter orders were 
particularly strong in the segments of marine, ports, 
and chemicals, while customer activity was broadly 
stable in oil & gas, with a negative order development 
in the areas of pulp & paper, metals and mining.  
• Revenues improved by 11% (12% comparable) to 
$1,717 million, supported by a stable to positive 
development in most divisions as the order backlog 
was executed, including a slight positive price 
impact. Strong growth in the service business also 
supported growth in the quarter.   
 
 
 
 
Profit 
This was another +15% margin quarter with Process 
Automation at 15.5%, up 10 basis points year-on-year.  
Operational EBITA improved by 10% and reached the 
record-level of $263 million.   
• Earnings were supported by the higher revenues on 
execution of the order backlog with a higher gross 
margin. These benefits were partially offset by a slight 
increase in SG&A expenses, which however declined 
slightly as percentage of revenues and a somewhat 
negative mix. 
 
  
— 
Process Automation 
   CHANGE   CHANGE 
($ millions, unless otherwise indicated) Q2 2024 Q2 2023 US$ Comparable H1 2024 H1 2023 US$ Comparable 
Orders 1,802 1,669 8% 10% 3,499 3,782 -7% -6% 
Order backlog 7,409 6,821 9% 10% 7,409 6,821 9% 10% 
Revenues 1,717 1,553 11% 12% 3,318 2,989 11% 12% 
Operational EBITA 263 239 10%  516 444 16%  
as % of operational revenues 15.5% 15.4% +0.1 pts  15.5% 14.8% +0.7 pts  
Cash flow from operating activities 257 188 37%  486 300 62%  
No. of employees (FTE equiv.) 21,700 20,600 5%      
 
 
Growth 
  
 Q2 Q2 
Change year-on-year Orders Revenues 
Comparable 10% 12% 
FX -2% -1% 
Portfolio changes 0% 0% 
Total 8% 11%

===== SIDA 9 =====

AB B  IN TE RIM RE P ORT  I Q2  20 24  9 
 
Orders and revenues 
Order intake decreased by 19% (17% comparable) to 
$688 million on strongly diverging market environments 
between the two divisions. 
• The Robotics division recorded a slight positive order 
growth, supported by a positive development in the 
segments of general industry and warehouse logistics 
linked to consumer industries. This was however 
partially offset by the negative development in 
automotive and electronics. Orders increased strongly 
in the Americas and declined at a single-digit rate in 
Asia, Middle East and Africa and Europe. Inventory 
levels in the channels are seemingly aligned with the 
current market situation. 
• Machine Automation orders declined sharply due to 
order normalization after earlier pre-buys, but also 
due to a softer underlying market. The division, which 
comprises approximately 1/3 of the business area 
revenues, is primarily exposed to the European 
market where the machine builder segment is 
expected to remain under pressure for the remainder 
of this year. 
• Revenues of $833 million represented a decline of 10% 
(8% comparable) from last year, driven by lower 
volumes. Revenues declined in both divisions as the 
positive order development in Robotics did not yet 
convert to revenues, and due to the market slowdown 
in Machine Automation.  
 
Profit 
Operational leverage on lower volumes put pressure on 
the Operational EBITA which declined by 34% to 
$93 million and the Operational EBITA margin which 
dropped by 420 basis points year-on-year to 11.1%. 
• Lower production volumes triggered underabsorption 
of fixed costs in both divisions, and the largest 
margin decline was recorded in Machine Automation.  
• Divisional mix had a negative impact on profitability 
as Machine Automation represented a lower share of 
revenues, compared with last year.  
• In expectations of a challenging near-term market, 
Machine Automation has initiated cost actions to 
defend future profitability. Benefits from these 
measures are expected to start coming through 
towards the end of this year.   
 
— 
Robotics & Discrete Automation 
   CHANGE   CHANGE 
($ millions, unless otherwise indicated) Q2 2024 Q2 2023 US$ Comparable H1 2024 H1 2023 US$ Comparable 
Orders 688 850 -19% -17% 1,389 1,851 -25% -24% 
Order backlog 1,758 2,657 -34% -33% 1,758 2,657 -34% -33% 
Revenues 833 922 -10% -8% 1,697 1,859 -9% -7% 
Operational EBITA 93 141 -34%  206 281 -27%  
as % of operational revenues 11.1% 15.3% -4.2 pts  12.2% 15.1% -2.9 pts  
Cash flow from operating activities 98 44 123%  193 174 11%  
No. of employees (FTE equiv.) 11,300 10,900 4%      
 
 
Growth 
  
 Q2 Q2 
Change year-on-year Orders Revenues 
Comparable -17% -8% 
FX -2% -2% 
Portfolio changes 0% 0% 
Total -19% -10%

===== SIDA 10 =====

AB B  IN TE RIM RE P ORT  I Q2  20 24  10  
 
Events from the Quarter 
 
• ABB’s science-based targets have received approval 
from the Science Based Targets initiative (SBTi), 
demonstrating that the company’s ambitions and 
methodology align with the latest climate science and 
the Paris Agreement. By 2030, ABB aims to reduce 
absolute scope 1 & 2 CO₂e emissions by 80% 
compared to 2019 and reduce absolute scope 3 
emissions by 25% from a 2022 baseline. Looking 
ahead to 2050, ABB strives for a 100% reduction in 
scope 1 & 2 CO₂e emissions compared to 2019 and a 
90% reduction in absolute Scope 3 emissions from 
the 2022 baseline. 
 
• Red Eléctrica, the company responsible for Spain’s 
electricity system, has awarded ABB four contracts for 
synchronous condensers. ABB’s technology will help 
strengthen the electricity grid, improve supply quality, 
and support the energy transition in the Canary and 
Balearic Islands allowing further progress in the 
integration of renewable energies. The project aligns 
with Spain’s 2021–2030 Integrated National Energy 
and Climate Plan, aiming for reduced greenhouse gas 
emissions and increased renewable energy 
penetration. 
 
• ABB has introduced a groundbreaking feature to its 
Routing Services portfolio. The new solution 
optimizes both the vessel’s route and speed 
simultaneously, factoring in anticipated weather 
conditions. By using real-time data such as 
meteorological information, daily hire costs, fuel 
costs, and user-defined performance models, it 
recommends adjustments like slowing down to avoid 
rough weather or speeding up to stay ahead. This 
innovative approach minimizes fuel consumption, 
reduces emissions, and enhances overall efficiency 
during voyages. 
 
• During the quarter, ABB’s Installation Products division 
launched an innovative cable protection system, the 
PMA® EcoGuard™ PA6, crafted from discarded ocean 
fishing nets highlighting its focus on further improving 
the circularity of its products. By using 50% recycled 
polyamide primarily sourced from recovered fishing 
nets, ABB addresses marine pollution while reducing 
energy and water consumption during production. The 
EcoGuard PA6 allows for a 30% reduction of upstream 
Scope 3 greenhouse gas emissions and 50% of net 
freshwater use compared to conventional products. 
 
• ABB celebrated Pride Month in June. The month 
featured discussions on diverse topics such as coming 
out stories, supporting transitioning employees, 
ensuring safe travel, moving from bystander to 
upstander, enhancing recruitment inclusivity, and 
building psychological safety in leadership roles. These 
initiatives underscore ABB's dedication to creating a 
workplace where every voice is heard and valued.  
— 
Sustainability 
Q2 outcome 
• 17% reduction year-on-year of CO₂e emissions due to 
a shift to green electricity and a lower use of fossil 
fuels in our operations. 
• 17% increase year-on-year in LTIFR due to a higher 
number of incidents reported during the quarter. We 
continue to identify the root cause and remediate. 
• 1.4%-points increase year-on-year in the proportion of 
women in senior management roles, demonstrating 
strong progress towards our target.  
 
  
 Q2 2024 Q2 2023 CHANGE 12M ROLLING 
CO₂e own operations emissions,  
Ktons scope 1 and 21 43 52 -17% 141 
Lost Time Injury Frequency Rate (LTIFR),  
frequency / 200,000 working hours 2 0.14 0.12 17% 0.13 
Proportion of women in senior management 
roles in % 21.6 20.2 +1.4 pts 21.1 
      
1 CO₂ equivalent emissions from site, energy use, SF₆ and fleet, previous quarter 
2 Current quarter Includes all incidents reported until July 5, 2024

===== SIDA 11 =====

AB B  IN TE RIM RE P ORT  I Q2  20 24  11  
 
During Q2 2024 
 
• On June 28, ABB announced it had cancelled 
21,387,687 shares of ABB Ltd, repurchased under 
ABB’s share buyback program. The total number of 
ABB Ltd’s issued shares and votes is 1,860,614,888, 
compared with 1,882,002,575 before the cancellation.  
• On June 27, ABB announced the approval of its 
emissions reduction targets by the Science Based 
Targets initiative (SBTi). As part of the company’s 
efforts to enable a low-carbon society ABB submitted 
updated scope 1, 2 and 3 targets for 2030 and 2050 to 
the SBTi. The approval of ABB’s science-based targets 
by the SBTi confirms ABB’s approach as science-
based in accordance with the Paris Agreement. 
• On June 10, ABB announced it had filed to voluntarily 
deregister and suspend SEC reporting obligations. 
The deregistration and termination of its reporting 
obligations is expected to become effective 90 days 
after the filing, unless withdrawn by the Company or 
objected to by the SEC. The Company will continue to 
comply with its financial reporting and other 
obligations pursuant to applicable stock exchange 
listing rules – in particular the Listing Rules of SIX 
Swiss Exchange and the Nasdaq Stockholm Rulebook. 
• On May 23, ABB announced the appointment of 
Giampiero Frisio as the new President of its 
Electrification Business Area and Brandon Spencer as 
the new President of its Motion Business Area. Both 
will take over their new roles and join ABB’s Executive 
Committee on August 1, 2024. 
• On April 1, ABB launched its previously announced 
new share buyback program of up to $1 billion. Based 
on the current ABB share price this represents a 
maximum of approximately 21.3 million shares. The 
maximum number of shares that may be repurchased 
under this new program on any given trading day is 
692,486. 
 
 
 
 
 
 
 
In the first six months of 2024, the overall order intake 
declined slightly on a high comparable. Weakness was 
noted in the short-cycle businesses and primarily linked 
to the buildings segment and discrete automation. 
Market environment remained buoyant in the project- 
and systems-related businesses. Orders increased in the 
Electrification business area, with declines most 
pronounced in Robotics and Discrete Automation. 
Orders amounted to $17,409 million and were down 4% 
versus the prior year (2% comparable), with growth 
adversely impacted by the timing of large orders 
booked which benefited the year-earlier period.   
Revenues were supported by execution of the large order 
backlog and amounted to $16,109 million, up by 1% (3% 
comparable), overall implying a book-to-bill of 1.08. 
Income from operations amounted to $2,593 million, up 
4% year-on-year. This increase can be attributed to an 
improved operational performance which more than 
offset the adverse impacts from higher expenses related 
to restructurings, gains and losses from sale of 
businesses and ABB Way transformation activities.  
Operational EBITA increased by 10% year-on-year to 
$2,981 million, and the Operational EBITA margin 
improved by 150 basis points to 18.4%. The increase 
was driven by improvements in the Electrification and 
Process Automation business areas, which more than 
offset declines elsewhere. The main drivers of the 
margin expansion were operating leverage on higher 
volumes as well as the impacts from implemented price 
increases while expenses related to SG&A remained 
broadly stable. Corporate and Other Operational EBITA 
amounted to -$185 million. This includes a loss of  
$141 million that can be attributed to the E-mobility 
business, which was negatively affected by the ongoing 
reorganization to ensure a more focused portfolio, and 
impairments mainly linked to inventories. 
Net finance contributed to results with $53 million, an 
improvement from last year’s expense of $46 million. 
The year-on-year improvement is due to a combination 
of a lower net debt position and favorable mix of 
interest rates between borrowings and cash deposits. 
Income tax expense was $654 million reflecting a tax 
rate of 24.5%, positively impacted by 270 basis points 
due to a reduction in certain tax risks.   
Net income attributable to ABB was $2,001 million, up 
from $1,942 million year-on-year. Basic earnings per 
share was $1.09, representing an increase of 4% 
compared with the prior year.  
 
Significant events 
 
First six months of 2024

===== SIDA 12 =====

AB B  IN TE RIM RE P ORT  I Q2  20 24  12  
 
 
Acquisitions Company/unit Closing date Revenues, $ in 
millions1 No. of employees 
2024     
Process Automation DTN Europe 3-Jun 14 84 
Process Automation Real Tech Water 1-Feb 6 38 
Robotics & Discrete Automation Meshmind 1-Feb <5 50 
2023     
Robotics & Discrete Automation Sevensense 21-Dec <5 35 
E-mobility Imagen Energy Inc 13-Nov <5 4 
Motion Spring Point Solutions Llc 1-Nov <5 13 
E-mobility Vourity AB 25-Oct <5 9 
 
 
Acquisitions and divestments, last twelve months 
ABB Group Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024 Q2 2024 
EBITDA, $ in million 1,389 1,494 1,453 1,315 5,651 1,418 1,578 
Return on Capital Employed, % n.a. n.a. n.a. n.a. 21.10 n.a. n.a. 
Net debt/Equity 0.30 0.31 0.21 0.14 0.14 0.16 0.18 
Net debt/ EBITDA 12M rolling 0.9 0.8 0.5 0.4 0.4 0.4 0.4 
Net working capital, % of 12M rolling revenues  13.9% 14.7% 12.8% 10.2% 10.2% 11.2% 11.2% 
Earnings per share, basic, $ 0.56 0.49 0.48 0.50 2.02 0.49 0.59 
Earnings per share, diluted, $ 0.55 0.48 0.47 0.50 2.01 0.49 0.59 
Dividend per share, CHF n.a. n.a. n.a. n.a. 0.87 n.a. n.a. 
Share price at the end of period, CHF 31.37 35.18 32.80 37.30 37.30 41.89 49.92 
Number of employees (FTE equivalents) 106,170 108,320 107,430 107,870 107,870 108,700 109,390 
No. of shares outstanding at end of period (in millions) 1,862 1,860 1,849 1,842 1,842 1,851 1,849 
  
  
 
 
Additional figures 
Divestments Company/unit Closing date Revenues, $ in 
millions1 No. of employees 
2024     
E-mobility Numocity 30-Jun <5 56 
2023     
Electrification Power Conversion division 3-Jul ~440 1,500 
Electrification Industrial Plugs & Sockets business 3-Jul ~12 2 
 
Note: comparable growth calculation includes acquisitions and divestments with revenues of greater than $50 million. 
1 Represents the estimated revenues for the last fiscal year prior to the announcement of the respective acquisition/divestment unless otherwise stated. 
 
 
Additional 2024 guidance 
($ in millions, unless otherwise stated) FY 20241 Q3 2024 
Corporate and Other Operational 
EBITA2 
~(200) ~(75) 
from ~(300)  
Non-operating items   
  
Acquisition-related amortization ~(210) ~(45) 
  
Restructuring and related3 ~(250) ~(70) 
from ~(200)  
ABB Way transformation ~(200) ~(60) 
  
 
($ in millions, unless otherwise stated) FY 2024 
Net finance expenses ~75 
from ~(50) 
Effective tax rate ~24% 4  
from ~25% 
Capital Expenditures ~(900) 
 
  
  
  
  
 
1 Excludes one project estimated to a total of ~$100 million, that is ongoing in the non-core business. Exact exit timing is difficult to assess due to legal proceedings etc. 
2 Excludes Operational EBITA from E-mobility business. 
3 Includes restructuring and restructuring-related as well as separation and integration costs. 
4 Excludes the impact of acquisitions or divestments or any significant non-operational items.

===== SIDA 13 =====

AB B  IN TE RIM RE P ORT  I Q2  20 24  13  
 
This press release includes forward-looking information 
and statements as well as other statements concerning 
the outlook for our business, including those in the 
sections of this release titled “CEO summary,” 
“Outlook,” and “Sustainability”. These statements are 
based on current expectations, estimates and 
projections about the factors that may affect our future 
performance, including global economic conditions, the 
economic conditions of the regions and industries that 
are major markets for ABB. These expectations, 
estimates and projections are generally identifiable by 
statements containing words such as “anticipates,” 
“expects,” “estimates,” “plans,” “targets,” “guidance,”  
“likely” or similar expressions. However, there are many 
risks and uncertainties, many of which are beyond our 
control, that could cause our actual results to differ 
materially from the forward-looking information and 
statements made in this press release and which could 
affect our ability to achieve any or all of our stated 
targets. These include, among others, business risks 
associated with the volatile global economic 
environment and political conditions, costs associated 
with compliance activities, market acceptance of new 
products and services, changes in governmental 
regulations and currency exchange rates. Although ABB 
Ltd believes that its expectations reflected in any such 
forward looking statement are based upon reasonable 
assumptions, it can give no assurance that those 
expectations will be achieved. 
 
 
The Q2 2024 results press release and presentation 
slides are available on the ABB News Center at 
www.abb.com/news and on the Investor Relations 
homepage at www.abb.com/investorrelations.  
A conference call and webcast for analysts and investors 
is scheduled to begin at 10:00 a.m. CET. 
To pre-register for the conference call or to join the 
webcast, please refer to the ABB website: 
www.abb.com/investorrelations.  
The recorded session will be available after the event on 
ABB’s website. 
 
 
Important notice about forward-looking information 
 
For additional information please contact: 
Media Relations 
Phone: +41 43 317 71 11 
Email: media.relations@ch.abb.com 
Investor Relations 
Phone: +41 43 317 71 11 
Email: investor.relations@ch.abb.com 
 
ABB Ltd 
Affolternstrasse 44 
8050 Zurich 
Switzerland 
 
 
Q2 results presentation on July 18, 2024 
ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The 
company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, 
powered and operated. Building on over 140 years of excellence, ABB’s more than 105,000 employees are committed to 
driving innovations that accelerate industrial transformation.  
 
Financial calendar 
2024  
October 17 Q3 2024 results

===== SIDA 14 =====

1 Q2 2024 FINANCIAL INFORMATION  
 
 
 
July 18, 2024 
Q2 2024  
Financial information

===== SIDA 15 =====

2 Q2 2024 FINANCIAL INFORMATION  
 
 
 
 
— 
Financial  Information 
Contents 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
03 ─ 07 Key Figures 
 
 
08 ─ 31 Consolidated  Financial  Information  (unaudited)  
  
 
32 ─ 44 Supplemental Reconciliations and Definitions

===== SIDA 16 =====

3 Q2 2024 FINANCIAL INFORMATION  
 
— 
Key Figures 
     CHANGE 
 ($ in millions, unless otherwise indicated) Q2 2024 Q2 2023 US$ Comparable(1) 
 Orders 8,435 8,667 -3% 0% 
 Order backlog (end June) 22,047 21,938 0% 4% 
 Revenues 8,239 8,163 1% 4% 
 Gross Profit 3,174 2,888 10%  
  as % of revenues 38.5% 35.4% +3.1 pts  
 Income from operations 1,376 1,298 6%  
 Operational EBITA(1) 1,564 1,425 10% 12%(2) 
  as % of operational revenues(1) 19.0% 17.5% +1.5 pts  
 Income from continuing operations, net of tax  1,104 932 18%  
 Net income attributable to ABB 1,096 906 21%  
 Basic earnings per share ($) 0.59 0.49 22%(3)  
 Cash flow from operating activities 1,067 760 40%  
 Free cash flow(1) 918 606 51%  
 
     CHANGE 
 ($ in millions, unless otherwise indicated) H1 2024 H1 2023 US$ Comparable(1) 
 Orders 17,409 18,117 -4% -2% 
 Revenues 16,109 16,022 1% 3% 
 Gross Profit 6,109 5,604 9%  
  as % of revenues 37.9% 35.0% +2.9 pts  
 Income from operations 2,593 2,496 4%  
 Operational EBITA(1) 2,981 2,702 10% 11%(2) 
  as % of operational revenues(1) 18.4% 16.9% +1.5 pts  
 Income from continuing operations, net of tax  2,018 1,997 1%  
 Net income attributable to ABB 2,001 1,942 3%  
 Basic earnings per share ($) 1.09 1.04 4%(3)  
 Cash flow from operating activities 1,793 1,042 72%  
 Free cash flow(1) 1,469 768 91%  
(1) For a reconciliation of alternative performance  measures see “ Supplemental Reconciliations and Definitions ” on page 32.  
(2) Constant currency (not adjusted for portfolio changes).  
(3) EPS growth rates are computed using unrounded amounts.

===== SIDA 17 =====

4 Q2 2024 FINANCIAL INFORMATION  
    CHANGE 
 ($ in millions, unless otherwise indicated) Q2 2024 Q2 2023 US$ Local Comparable 
 Orders  ABB Group 8,435 8,667 -3% -1% 0% 
  Electrification 4,073 3,960 3% 5% 7% 
  Motion 2,014 2,137 -6% -4% -4% 
  Process Automation 1,802 1,669 8% 10% 10% 
  Robotics & Discrete Automation 688 850 -19% -17% -17% 
  Corporate and Other  112 264 
   
  Intersegment eliminations (254) (213) 
 Order backlog (end June) ABB Group 22,047 21,938 0% 2% 4% 
  Electrification 7,548 7,298 3% 5% 11% 
  Motion 5,669 5,322 7% 8% 8% 
  Process Automation 7,409 6,821 9% 10% 10% 
  Robotics & Discrete Automation 1,758 2,657 -34% -33% -33% 
  Corporate and Other    
   
  (incl. intersegment eliminations) (337) (160) 
 Revenues  ABB Group 8,239 8,163 1% 3% 4% 
  Electrification 3,809 3,735 2% 4% 7% 
  Motion 1,951 1,981 -2% 0% -1% 
  Process Automation 1,717 1,553 11% 12% 12% 
  Robotics & Discrete Automation 833 922 -10% -8% -8% 
  Corporate and Other  145 177 
   
  Intersegment eliminations (216) (205) 
 Income from operations ABB Group 1,376 1,298    
  Electrification 837 713    
  Motion 369 380    
  Process Automation 274 270    
  Robotics & Discrete Automation 46 119    
  Corporate and Other   
   
  (incl. intersegment eliminations) (150) (184) 
 Income from operations % ABB Group 16.7% 15.9%    
  Electrification 22.0% 19.1%    
  Motion 18.9% 19.2%    
  Process Automation 16.0% 17.4%    
  Robotics & Discrete Automation 5.5% 12.9%    
 Operational EBITA ABB Group 1,564 1,425 10% 12%  
  Electrification 887 787 13% 15%  
  Motion 388 401 -3% -2%  
  Process Automation 263 239 10% 13%  
  Robotics & Discrete Automation 93 141 -34% -32%  
  Corporate and Other      
  (incl. intersegment eliminations) (67) (143)    
 Operational EBITA %  ABB Group 19.0% 17.5%    
  Electrification 23.2% 21.1%    
  Motion 19.9% 20.4%    
  Process Automation 15.5% 15.4%    
  Robotics & Discrete Automation 11.1% 15.3%    
 Cash flow from operating activities ABB Group 1,067 760    
  Electrification 850 697    
  Motion 509 320    
  Process Automation 257 188    
  Robotics & Discrete Automation 98 44    
  Corporate and Other       
  (incl. intersegment eliminations) (647) (489)

===== SIDA 18 =====

5 Q2 2024 FINANCIAL INFORMATION  
    CHANGE 
 ($ in millions, unless otherwise indicated) H1 2024 H1 2023 US$ Local Comparable 
 Orders  ABB Group 17,409 18,117 -4% -3% -2% 
  Electrification 8,465 8,101 4% 6% 7% 
  Motion 4,317 4,399 -2% -1% -1% 
  Process Automation 3,499 3,782 -7% -6% -6% 
  Robotics & Discrete Automation 1,389 1,851 -25% -24% -24% 
  Corporate and Other 254 460    
  Intersegment eliminations (515) (476)    
 Order backlog (end June) ABB Group 22,047 21,938 0% 2% 4% 
  Electrification 7,548 7,298 3% 5% 11% 
  Motion 5,669 5,322 7% 8% 8% 
  Process Automation 7,409 6,821 9% 10% 10% 
  Robotics & Discrete Automation 1,758 2,657 -34% -33% -33% 
  Corporate and Other   
   
  (incl. intersegment eliminations) (337) (160) 
 Revenues  ABB Group 16,109 16,022 1% 2% 3% 
  Electrification 7,489 7,325 2% 3% 7% 
  Motion 3,780 3,921 -4% -2% -3% 
  Process Automation 3,318 2,989 11% 12% 12% 
  Robotics & Discrete Automation 1,697 1,859 -9% -7% -7% 
  Corporate and Other 270 346 
   
  Intersegment eliminations (445) (418) 
 Income from operations ABB Group 2,593 2,496    
  Electrification 1,606 1,368    
  Motion 670 733    
  Process Automation 508 470    
  Robotics & Discrete Automation 137 234    
  Corporate and Other   
 
  (incl. intersegment eliminations) (328) (309) 
 Income from operations % ABB Group 16.1% 15.6%    
  Electrification 21.4% 18.7%    
  Motion 17.7% 18.7%    
  Process Automation 15.3% 15.7%    
  Robotics & Discrete Automation 8.1% 12.6%    
 Operational EBITA ABB Group 2,981 2,702 10% 11%  
  Electrification 1,713 1,464 17% 19%  
  Motion 731 767 -5% -4%  
  Process Automation 516 444 16% 17%  
  Robotics & Discrete Automation 206 281 -27% -25%  
  Corporate and Other    
  (incl. intersegment eliminations) (185) (254)    
 Operational EBITA %  ABB Group 18.4% 16.9%    
  Electrification 22.8% 20.0%    
  Motion 19.2% 19.6%    
  Process Automation 15.5% 14.8%    
  Robotics & Discrete Automation 12.2% 15.1%    
 Cash flow from operating activities ABB Group 1,793 1,042    
  Electrification 1,397 1,092    
  Motion 861 469    
  Process Automation 486 300    
  Robotics & Discrete Automation 193 174    
  Corporate and Other      
  (incl. intersegment eliminations) (1,144) (993)

===== SIDA 19 =====

6 Q2 2024 FINANCIAL INFORMATION  
Operational EBITA 
     Process Robotics & Discrete 
  ABB Electrification Motion Automation Automation 
 ($ in millions, unless otherwise indicated) Q2 24 Q2 23 Q2 24 Q2 23 Q2 24 Q2 23 Q2 24 Q2 23 Q2 24 Q2 23 
 Revenues 8,239 8,163 3,809 3,735 1,951 1,981 1,717 1,553 833 922 
 Foreign exchange/commodity timing           
 differences in total revenues (4) (10) 10 2 – (11) (19) – 3 (1) 
 Operational revenues 8,235 8,153 3,819 3,737 1,951 1,970 1,698 1,553 836 921 
            
 Income from operations 1,376 1,298 837 713 369 380 274 270 46 119 
 Acquisition-related amortization 57 55 23 22 8 9 2 2 20 19 
 Restructuring, related and            
 implementation costs(1) 50 13 8 4 14 1 – 2 20 – 
 Changes in obligations related to            
 divested businesses (11) (8) – 1 – – – – – – 
 Gains and losses from sale of businesses  55 (26) 24 – – – – (26) – – 
 Acquisition- and divestment-related            
 expenses and integration costs 18 26 19 12 2 8 1 (2) 5 2 
 Certain other non-operational items 50 41 (1) 6 – 1 (5) – (2) 1 
 Foreign exchange/commodity timing           
 differences in income from operations (31) 26 (23) 29 (5) 2 (9) (7) 4 – 
 Operational EBITA 1,564 1,425 887 787 388 401 263 239 93 141 
            
 Operational EBITA margin (%) 19.0% 17.5% 23.2% 21.1% 19.9% 20.4% 15.5% 15.4% 11.1% 15.3% 
 
 
     Process Robotics & Discrete 
  ABB Electrification Motion Automation Automation 
 ($ in millions, unless otherwise indicated) H1 24 H1 23 H1 24 H1 23 H1 24 H1 23 H1 24 H1 23 H1 24 H1 23 
 Revenues 16,109 16,022 7,489 7,325 3,780 3,921 3,318 2,989 1,697 1,859 
 Foreign exchange/commodity timing           
 differences in total revenues 61 (26) 23 (20) 29 (11) 6 10 (2) – 
 Operational revenues 16,170 15,996 7,512 7,305 3,809 3,910 3,324 2,999 1,695 1,859 
            
 Income from operations 2,593 2,496 1,606 1,368 670 733 508 470 137 234 
 Acquisition-related amortization 113 109 46 44 17 17 3 3 41 39 
 Restructuring, related and           
 implementation costs(1) 76 41 18 12 22 2 7 4 20 – 
 Changes in obligations related to            
 divested businesses (11) (5) – 1 – – – – – – 
 Gains and losses from sale of businesses  57 (26) 24 – – – – (26) – – 
 Acquisition- and divestment-related            
 expenses and integration costs 37 45 29 19 2 12 1 1 7 4 
 Certain other non-operational items 113 40 2 9 3 3 (5) – (1) 3 
 Foreign exchange/commodity timing           
 differences in income from operations 3 2 (12) 11 17 – 2 (8) 2 1 
 Operational EBITA 2,981 2,702 1,713 1,464 731 767 516 444 206 281 
            
 Operational EBITA margin (%) 18.4% 16.9% 22.8% 20.0% 19.2% 19.6% 15.5% 14.8% 12.2% 15.1% 
(1) Includes impairment of certain assets.

===== SIDA 20 =====

7 Q2 2024 FINANCIAL INFORMATION  
Depreciation and Amortization  
     Process Robotics & Discrete 
  ABB Electrification Motion Automation Automation 
 ($ in millions) Q2 24 Q2 23 Q2 24 Q2 23 Q2 24 Q2 23 Q2 24 Q2 23 Q2 24 Q2 23 
 Depreciation 135 129 66 64 30 27 12 12 15 14 
 Amortization 67 67 28 27 10 10 3 3 21 20 
 including total acquisition-related amortization of: 57 55 23 22 8 9 2 2 20 19 
 
 
       Process Robotics & Discrete  
  ABB Electrification Motion Automation Automation 
 ($ in millions) H1 24 H1 23 H1 24 H1 23 H1 24 H1 23 H1 24 H1 23 H1 24 H1 23 
 Depreciation 268 254 132 126 58 53 23 23 29 29 
 Amortization 135 133 56 54 20 20 5 5 43 40 
 including total acquisition-related amortization of: 113 109 46 44 17 17 3 3 41 39 
 
 
Orders received and revenues by region  
 ($ in millions, unless otherwise indicated) Orders received CHANGE Revenues CHANGE 
  
    Com-     Com- 
 Q2 24 Q2 23 US$ Local parable Q2 24 Q2 23 US$ Local parable 
 Europe 2,786 2,931 -5% -4% -4% 2,831 2,935 -4% -2% -2% 
 The Americas 3,031 3,209 -6% -5% -4% 2,960 2,815 5% 6% 8% 
 of which United States 2,241 2,319 -3% -3% -1% 2,221 2,092 6% 6% 10% 
 Asia, Middle East and Africa 2,618 2,527 4% 8% 9% 2,448 2,413 1% 5% 5% 
 of which China 1,066 1,194 -11% -8% -7% 1,134 1,174 -3% 0% 0% 
 ABB Group 8,435 8,667 -3% -1% 0% 8,239 8,163 1% 3% 4% 
 
 
 ($ in millions, unless otherwise indicated) Orders received CHANGE Revenues CHANGE 
  
    Com-     Com- 
 H1 24 H1 23 US$ Local parable H1 24 H1 23 US$ Local parable 
 Europe 6,084 6,513 -7% -7% -7% 5,579 5,807 -4% -4% -4% 
 The Americas 5,935 6,194 -4% -4% -3% 5,749 5,468 5% 5% 8% 
 of which United States 4,380 4,449 -2% -1% 0% 4,331 4,076 6% 6% 10% 
 Asia, Middle East and Africa 5,390 5,410 0% 4% 4% 4,781 4,747 1% 5% 5% 
 of which China 2,116 2,549 -17% -14% -13% 2,132 2,328 -8% -5% -4% 
 ABB Group 17,409 18,117 -4% -3% -2% 16,109 16,022 1% 2% 3%

===== SIDA 21 =====

8 Q2 2024 FINANCIAL INFORMATION  
 
 
 
 
— 
Consolidated Financial Information 
 
 
 
 ABB Ltd Consolidated Income Statements (unaudited) 
      
      
  Six months ended Three months ended 
 ($ in millions, except per share data in $) Jun. 30, 2024 Jun. 30, 2023 Jun. 30, 2024 Jun. 30, 2023 
 Sales of products 13,355 13,530 6,852 6,886 
 Sales of services and other 2,754 2,492 1,387 1,277 
 Total revenues 16,109 16,022 8,239 8,163 
 Cost of sales of products (8,415) (8,946) (4,270) (4,528) 
 Cost of services and other (1,585) (1,472) (795) (747) 
 Total cost of sales (10,000) (10,418) (5,065) (5,275) 
 Gross profit 6,109 5,604 3,174 2,888 
 Selling, general and administrative expenses  (2,806) (2,727) (1,425) (1,388) 
 Non-order related research and development expenses (727) (637) (364) (333) 
 Other income (expense), net 17 256 (9) 131 
 Income from operations 2,593 2,496 1,376 1,298 
 Interest and dividend income 103 78 46 38 
 Interest and other finance expense (50) (124) (13) (63) 
 Non-operational pension (cost) credit 26 15 10 8 
 Income from continuing operations before taxes  2,672 2,465 1,419 1,281 
 Income tax expense (654) (468) (315) (349) 
 Income from continuing operations, net of tax  2,018 1,997 1,104 932 
 Loss from discontinued operations, net of tax (3) (9) (2) (4) 
 Net income 2,015 1,988 1,102 928 
 Net income attributable to noncontrolling      
 interests and redeemable noncontrolling interests  (14) (46) (6) (22) 
 Net income attributable to ABB 2,001 1,942 1,096 906 
      
 Amounts attributable to ABB shareholders:      
 Income from continuing operations, net of tax  2,004 1,951 1,098 910 
 Loss from discontinued operations, net of tax  (3) (9) (2) (4) 
 Net income 2,001 1,942 1,096 906 
      
 Basic earnings per share attributable to ABB shareholders:      
 Income from continuing operations, net of tax  1.09 1.05 0.59 0.49 
 Loss from discontinued operations, net of tax  0.00 0.00 0.00 0.00 
 Net income 1.09 1.04 0.59 0.49 
      
 Diluted earnings per share attributable to ABB shareholders:      
 Income from continuing operations, net of tax  1.08 1.04 0.59 0.49 
 Loss from discontinued operations, net of tax  0.00 0.00 0.00 0.00 
 Net income 1.08 1.04 0.59 0.48 
      
 Weighted-average number of shares outstanding (in millions) used to compute:      
 Basic earnings per share attributable to ABB shareholders  1,844 1,861 1,849 1,862 
 Diluted earnings per share attributable to ABB shareholders  1,853 1,873 1,855 1,873 
 Due to rounding, numbers presented may not add to the totals provided.     
 
     
 See Notes to the Consolidated Financial Information

===== SIDA 22 =====

9 Q2 2024 FINANCIAL INFORMATION  
      
      
      
      
      
      
      
 —     
 ABB Ltd Condensed Consolidated Statements of Comprehensive 
 Income (unaudited) 
      
      
  Six months ended Three months ended 
 ($ in millions) Jun. 30, 2024 Jun. 30, 2023 Jun. 30, 2024 Jun. 30, 2023 
 Total comprehensive income, net of tax  2,053 1,914 990 761 
 Total comprehensive (income) loss attributable to noncontrolling interests and      
 redeemable noncontrolling interests, net of tax  2 (43) (6) (13) 
 Total comprehensive income attributable to ABB shareholders, net of tax  2,055 1,871 984 748 
 Due to rounding, numbers presented may not add to the totals provided.     
       See Notes to the Consolidated Financial Information

===== SIDA 23 =====

10 Q2 2024 FINANCIAL INFORMATION  
 —   
 ABB Ltd Consolidated Balance Sheets (unaudited)   
    
    
 ($ in millions) Jun. 30, 2024 Dec. 31, 2023 
 Cash and equivalents 2,961 3,891 
 Restricted cash 18 18 
 Marketable securities and short-term investments 1,289 1,928 
 Receivables, net 7,492 7,446 
 Contract assets 1,118 1,090 
 Inventories, net 6,257 6,149 
 Prepaid expenses 294 235 
 Other current assets 412 520 
 Total current assets 19,841 21,277 
    
 Property, plant and equipment, net 4,095 4,142 
 Operating lease right-of-use assets 861 893 
 Investments in equity-accounted companies 189 187 
 Prepaid pension and other employee benefits 791 780 
 Intangible assets, net 1,089 1,223 
 Goodwill 10,525 10,561 
 Deferred taxes 1,376 1,381 
 Other non-current assets 514 496 
 Total assets 39,281 40,940 
    
 Accounts payable, trade 5,118 4,847 
 Contract liabilities 2,973 2,844 
 Short-term debt and current maturities of long-term debt 410 2,607 
 Current operating leases 255 249 
 Provisions for warranties 1,212 1,210 
 Other provisions 963 1,201 
 Other current liabilities 4,123 5,046 
 Total current liabilities 15,054 18,004 
    
 Long-term debt 6,338 5,221 
 Non-current operating leases 631 666 
 Pension and other employee benefits 657 686 
 Deferred taxes 712 669 
 Other non-current liabilities 1,743 1,548 
 Total liabilities 25,135 26,794 
    
 Commitments and contingencies   
    
 Redeemable noncontrolling interest 80 89 
    
 Stockholders’ equity:   
 Common stock, CHF 0.12 par value   
 (1,861 million and 1,882 million shares issued at June 30, 2024, and December 31, 2023, respectively) 162 163 
 Additional paid-in capital 9 7 
 Retained earnings 18,783 19,724 
 Accumulated other comprehensive loss (5,016) (5,070) 
 Treasury stock, at cost   
 (12 million and 40 million shares at June 30, 2024, and December 31, 2023, respectively) (469) (1,414) 
 Total ABB stockholders’ equity 13,469 13,410 
 Noncontrolling interests 597 647 
 Total stockholders’ equity 14,066 14,057 
 Total liabilities and stockholders’ equity 39,281 40,940 
 Due to rounding, numbers presented may not add to the totals provided.   
    
 See Notes to the Consolidated Financial Information

===== SIDA 24 =====

11 Q2 2024 FINANCIAL INFORMATION  
 —     
 ABB Ltd Consolidated Statements of Cash Flows (unaudited) 
      
      
  Six months ended Three months ended 
 ($ in millions) Jun. 30, 2024 Jun. 30, 2023 Jun. 30, 2024 Jun. 30, 2023 
 Operating activities:     
 Net income 2,015 1,988 1,102 928 
 Adjustments to reconcile net income (loss) to      
 net cash provided by operating activities:     
 Depreciation and amortization 403 387 202 196 
 Changes in fair values of investments (20) (24) (7) (11) 
 Pension and other employee benefits (35) (12) (22) (13) 
 Deferred taxes 22 36 28 11 
 Loss (income) from equity-accounted companies 9 7 4 – 
 Net gain from derivatives and foreign exchange  (39) (53) (31) (16) 
 Net gain from sale of property, plant and equipment  (26) (33) (21) (7) 
 Net loss (gain) from sale of businesses 57 (26) 55 (26) 
 Other 64 92 37 65 
 Changes in operating assets and liabilities:     
 Trade receivables, net (179) (659) (146) (297) 
 Contract assets and liabilities 162 79 124 69 
 Inventories, net (311) (450) (106) (186) 
 Accounts payable, trade 198 (8) 116 (30) 
 Accrued liabilities (424) (204) 49 120 
 Provisions, net (14) 51 (51) 9 
 Income taxes payable and receivable (6) (86) (128) 29 
 Other assets and liabilities, net (83) (43) (138) (81) 
 Net cash provided by operating activities 1,793 1,042 1,067 760 
       Investing activities:     
 Purchases of investments (916) (760) (39) (100) 
 Purchases of property, plant and equipment and intangible assets  (366) (331) (185) (180) 
 Acquisition of businesses (net of cash acquired)     
 and increases in cost- and equity-accounted companies (134) (135) (104) (116) 
 Proceeds from sales of investments 1,584 176 857 156 
 Proceeds from maturity of investments – 138 – 138 
 Proceeds from sales of property, plant and equipment  42 57 36 26 
 Proceeds from sales of businesses (net of transaction costs     
 and cash disposed) and cost- and equity-accounted companies (8) 22 – 27 
 Net cash from settlement of foreign currency derivatives  124 (18) 93 (54) 
 Changes in loans receivable, net (6) 1 (7) (7) 
 Other investing activities – 9 – 10 
 Net cash provided by (used in) investing activities  320 (841) 651 (100) 
       Financing activities:     
 Net changes in debt with original maturities of 90 days or less  (7) (35) 13 679 
 Increase in debt 1,364 1,648 6 15 
 Repayment of debt (2,151) (1,128) (1,586) (1,092) 
 Delivery of shares 390 96 – 1 
 Purchase of treasury stock (563) (476) (272) (202) 
 Dividends paid (1,769) (1,713) (850) (419) 
 Dividends paid to noncontrolling shareholders (94) (83) (94) (80) 
 Proceeds from issuance of subsidiary shares – 328 – (13) 
 Other financing activities (55) – (52) (12) 
 Net cash used in financing activities (2,885) (1,363) (2,835) (1,123) 
       Effects of exchange rate changes on cash and equivalents and restricted cash (158) (42) (24) (37) 
 Adjustment for the net change in cash and equivalents and restricted cash      
 in Assets held for sale – (28) – (15) 
 Net change in cash and equivalents and restricted cash  (930) (1,232) (1,141) (515) 
       Cash and equivalents and restricted cash, beginning of period  3,909 4,174 4,120 3,457 
 Cash and equivalents and restricted cash, end of period  2,979 2,942 2,979 2,942 
       Supplementary disclosure of cash flow information:      
 Interest paid 148 108 54 60 
 Income taxes paid 643 527 415 320 
 Due to rounding, numbers presented may not add to the totals provided.     
 See Notes to the Consolidated Financial Information

===== SIDA 25 =====

12 Q2 2024 FINANCIAL INFORMATION  
 —         
 ABB Ltd Consolidated Statements of Changes in Stockholders’ Equity (unaudited) 
  
 
 
 
 
 
 
 
 
 ($ in millions) 
Common 
stock 
Additional 
paid-in 
capital 
Retained 
earnings 
Accumulated 
other 
comprehensive 
loss 
Treasury 
stock 
Total ABB  
stockholders’ 
equity 
Non- 
controlling 
interests 
Total 
stockholders’ 
equity 
          
 Balance at January 1, 2023 171 141 20,082 (4,556) (3,061) 12,777 410 13,187 
 Net income(1)   1,942   1,942 47 1,989 
 Foreign currency translation         
 adjustments, net of tax of $(2)    (76)  (76) (3) (79) 
 Effect of change in fair value of         
 available-for-sale securities,         
 net of tax of $2    7  7  7 
 Unrecognized income (expense)         
 related to pensions and other         
 postretirement plans,         
 net of tax of $4    (5)  (5)  (5) 
 Change in derivative instruments         
 and hedges, net of tax of $1    3  3  3 
 Issuance of subsidiary shares  170    170 168 338 
 Other changes in         
 noncontrolling interests  (6)    (6) 4 (2) 
 Dividends to         
 noncontrolling shareholders      – (84) (84) 
 Dividends to shareholders   (1,706)   (1,706)  (1,706) 
 Cancellation of treasury shares (7) (201) (2,359)  2,567 –  – 
 Share-based payment arrangements  62    62 1 63 
 Purchase of treasury stock     (464) (464)  (464) 
 Delivery of shares  (153)   249 96  96 
 Other  (3)    (3)  (3) 
 Balance at June 30, 2023 163 11 17,958 (4,627) (709) 12,796 544 13,340 
          
          
 Balance at January 1, 2024 163 7 19,724 (5,070) (1,414) 13,410 647 14,057 
 Net income(1)   2,001   2,001 15 2,016 
 Foreign currency translation         
 adjustments, net of tax of $2    1  1 (16) (15) 
 Effect of change in fair value of         
 available-for-sale securities,         
 net of tax of $0    (1)  (1)  (1) 
 Unrecognized income (expense)         
 related to pensions and other         
 postretirement plans,         
 net of tax of $20    50  50  50 
 Change in derivative instruments         
 and hedges, net of tax of $0    4  4  4 
 Changes in noncontrolling interests  (10) (62)   (72) 44 (28) 
 Dividends to         
 noncontrolling shareholders      – (95) (95) 
 Dividends to shareholders   (1,804)   (1,804)  (1,804) 
 Cancellation of treasury shares (2) (2) (828)  832 –  – 
 Share-based payment arrangements  44    44 2 46 
 Purchase of treasury stock     (552) (552)  (552) 
 Delivery of shares  (25) (249)  664 390  390 
 Other  (5)    (5) 2 (3) 
 Balance at June 30, 2024 162 9 18,783 (5,016) (469) 13,469 597 14,066 
 
(1) Amounts attributable to noncontrolling interests for the six months ended June 30, 2024 and 2023, exclude net losses of $1 million and $2 million, respectively, related to 
redeemable noncontrolling interests, which are reported in the mezzanine equity section on the Consolidated Balance Sheets. 
 Due to rounding, numbers presented may not add to the totals provided. 
           
 See Notes to the Consolidated Financial Information

===== SIDA 26 =====

13 Q2 2024 FINANCIAL INFORMATION  
— 
Notes to the Consolidated Financial Information (unaudited) 
 
 
─ 
Note 1 
The Company and basis of presentation 
ABB Ltd and its subsidiaries (collectively, the Company) together form a technology leader in electrification and automation, enabling a more 
sustainable and resource-efficient future. The Company’s solutions connect engineering know -how and software to optimize how things are 
manufactured, moved, powered, and operated. 
The Company’s Consolidated Financial Information is prepared in accordance with United States of America generally accepted a ccounting principles 
(U.S. GAAP) for interim financial reporting. As such, the Consolidated Financial Information does not include all the informa tion and notes required under 
U.S. GAAP for annual consolidated financial statements. Therefore, such financial information should be read in conjunction w ith the audited 
consolidated financial statements in the Company’s Annual Report for the year ended December  31, 2023. 
The preparation of financial information in conformity with U.S. GAAP requires management to make assumptions and estimates t hat directly affect the 
amounts reported in the Consolidated Financial Information. These accounting assumptions and estimates include:  
• estimates to determine valuation allowances for deferred tax assets and amounts recorded for unrecognized tax benefits,  
• estimates related to credit losses expected to occur over the remaining life of financial assets such as trade and other rece ivables, loans and 
other instruments, 
• estimates of loss contingencies associated with litigation or threatened litigation and other claims and inquiries, environme ntal damages, 
product warranties, self-insurance reserves, regulatory and other proceedings,  
• assumptions and projections, principally related to future material, labor and project -related overhead costs, used in determining the 
percentage-of-completion on projects where revenue is recognized over time , as well as the amount of variable consideration the Company 
expects to be entitled to, 
• assumptions used in the calculation of pension and postretirement benefits and the fair value of pension plan assets,  
• estimates used to record expected costs for employee severance in connection with restructuring programs,  
• assumptions used in determining inventory obsolescence and net realizable value,  
• growth rates, discount rates and other assumptions used to determine impairment of long -lived assets and in testing goodwill for 
impairment, 
• estimates and assumptions used in determining the fair values of assets and liabilities assumed in business combinations,  and 
• estimates and assumptions used in determining the initial fair value of retained noncontrolling interest s and certain obligations in connection 
with divestments. 
The actual results and outcomes may differ from the Company’s estimates and assumptions.  
A portion of the Company’s activities (primarily long-term construction activities) has an operating cycle that exceeds one year. For classification of 
current assets and liabilities related to such activities, the Company elected to use the duration of the individual contract s as its operating cycle. 
Accordingly, there are accounts receivable, contract assets, inventories and provisions related to these contracts which will  not be realized within one 
year that have been classified as current.  
Basis of presentation 
In the opinion of management, the unaudited Consolidated Financial Information contains all necessary adjustments to present fairly the financial 
position, results of operations and cash flows for the reported periods. Management considers all such adjustments to be of a  normal recurring nature. 
The Consolidated Financial Information is presented in United States dollars ($) unless otherwise stated. Due to rounding, nu mbers presented in the 
Consolidated Financial Information may not add to the totals provided.  
Certain amounts reported in the Consolidated Financial Information for prior periods have been reclassified to conform to the  current year’s 
presentation. 
 
Adjustment related to prior periods 
In the three months ended June 30, 2024, the Company recorded a cumulative correction to certain reserves  for self-insurance. The correction in this 
liability resulted in a $58 million reduction in Total cost of sales in the Interim Consolidated Income Statement for the three months ended June 30, 2024, 
and is included in Corporate and Other Operational EBITA. The Company evaluated the impact of the correction on  both a quantitative and qualitative 
basis under the guidance of ASC 250, Accounting Changes and Error Corrections, and determined that there were no material imp acts on the trend of 
net income, cash flows or liquidity for previously issued annual financial statements.  
 
Change in accounting policy  
Effective January  1, 2024,  the Company changed the presentation of discontinued operations in its statement of cash flows to an alternate 
allowable policy. As a result, the total cash flows for operating, investing and financing activities from discontinued operations are no longer 
show n separately but instead all cash flows in discontinued operations are present ed within each line item  as appropriate in the statement of 
cash flow s. As this presentation c hange represents a chang e in accounting policy, all prior periods presented have been rec lassified to conform 
to the current period presentation  and there was no material impact for the six and three months ended June  30, 2023 .

===== SIDA 27 =====

14 Q2 2024 FINANCIAL INFORMATION  
─ 
Note 2 
Recent accounting pronouncements 
Applicable for current periods 
Improvements to reportable segment disclosures  
In January 2024, the Company adopted an accounting standard update which requires the Company to disclose additional reportable segment 
information primarily through enhanced disclosures about significant segment expenses and extending certain annual disclosure  requirements to a 
quarterly frequency. The update will be applied retrospectively for all periods presented in the Company’s 2024 annual consolidated financial statements 
and then commencing from the first quarter of 2025, in its interim consolidated financial information. Other than these additional disclosures, this 
update does not have a significant impact on the Company’s consolidated financial statements . 
Applicable for future periods 
Improvements to Income tax disclosures 
In December 2023, an accounting standard update was issued which requires the Company to disclose additional information rela ted to income taxes. 
Under the update, the Company is required to annually disclose by jurisdiction (i)  additional disaggregated information within the tax rate reconciliation 
and (ii) income taxes paid. This update is effective for the Company prospectively, with retrospective adoption permitted, for annual periods beginning 
January 1, 2025. The Company is currently evaluating the impact of adopting this update on its consolidated financial statements.  
 
 
─ 
Note 3 
Acquisitions and equity-accounted companies 
Acquisition of controlling interests 
Acquisitions of controlling interests were as follows: 
  Six months ended June 30, Three months ended June 30, 
 ($ in millions, except number of acquired businesses)  2024 2023 2024 2023 
 Purchase price for acquisitions (net of cash acquired)(1) 104 114 75 113 
 Aggregate excess of purchase price over     
 fair value of net assets acquired(2) 89 54 60 50 
 Number of acquired businesses  3 2 1 2 
(1) Excluding changes in cost - and equity-accounted companies.  
(2)  Recorded as goodwill.  
In the table above, the “Purchase price for acquisitions” and “Aggregate excess of purchase price over fair value of net assets acquired” amounts  in the 
six months ended June 30, 2024, relate primarily to the acquisition of DTN Europe B.V. 
Acquisitions of controlling interests have been accounted for under the acquisition method and have been included in the Comp any’s consolidated 
financial statements since the date of acquisition.  
While the Company uses its best estimates and assumptions as part of the purchase price allocation process to value assets acquired and  liabilities 
assumed at the acquisition date, the purchase price allocation for acquisitions is preliminary for up to 12 months after the acquisition date and is 
subject to refinement as more detailed analyses are completed and additional information about the fair values of the assets and liabilities becomes 
available.

===== SIDA 28 =====

15 Q2 2024 FINANCIAL INFORMATION  
─ 
Note 4 
Cash and equivalents, marketable securities and short-term investments 
Cash and equivalents, marketable securities and short -term investments consisted of the following:  
   June 30, 2024 
       Cash and Marketable 
    Gross Gross  equivalents securities 
    unrealized unrealized  and restricted and short-term 
 ($ in millions) Cost basis gains losses Fair value cash investments 
 Changes in fair value        
 recorded in net income       
 Cash 1,617   1,617 1,617  
 Time deposits 1,854   1,854 1,362 492 
 Equity securities 590 22  612  612 
  4,061 22 – 4,083 2,979 1,104 
 Changes in fair value recorded       
 in other comprehensive income       
 Debt securities available-for-sale:       
  U.S. government obligations 192 2 (9) 185  185 
  192 2 (9) 185 – 185 
 Total 4,253 24 (9) 4,268 2,979 1,289 
 Of which:        
  Restricted cash, current     18  
         
 
   December 31, 2023 
       Cash and Marketable 
    Gross Gross  equivalents securities 
    unrealized unrealized  and restricted and short-term 
 ($ in millions) Cost basis gains losses Fair value cash investments 
 Changes in fair value       
 recorded in net income       
 Cash 1,449   1,449 1,449  
 Time deposits 2,923   2,923 2,460 463 
 Equity securities 1,250 32  1,282  1,282 
  5,622 32 – 5,654 3,909 1,745 
 Changes in fair value recorded       
 in other comprehensive income       
 Debt securities available-for-sale:       
  U.S. government obligations 189 2 (8) 183  183 
  189 2 (8) 183 – 183 
 Total 5,811 34 (8) 5,837 3,909 1,928 
 Of which:       
  Restricted cash, current     18

===== SIDA 29 =====

16 Q2 2024 FINANCIAL INFORMATION  
─ 
Note 5 
Derivative financial instruments 
The Company is exposed to certain currency, commodity  and interest rate risks arising from its global operating, financing and investing activities. The 
Company uses derivative instruments to reduce and manage the economic impact of these exposures.  
Currency risk  
Due to the global nature of the Company’s operations, many of its subsidiaries are exposed to currency risk in their operatin g activities from entering 
into transactions in currencies other than their functional currency. To manage such currency risks, the Company’s policies r equire its subsidiaries to 
hedge their foreign currency exposures from binding sales and purchase contracts denominated in foreign currencies. For forec asted foreign currency 
denominated sales of standard products and the related foreign currency denominated purchases, the Company’s policy is to hed ge up to a maximum 
of 100 percent of the forecasted foreign currency denominated exposures, depending on the length of the forecasted exposures. Foreca sted exposures 
greater than 12 months are not hedged. Forward foreign exchange contracts are the main instrument used to protect the Company against the vol atility 
of future cash flows (caused by changes in exchange rates) of contracted and forecasted sales and purchases denominated in fo reign currencies. In 
addition, within its treasury operations, the Company primarily uses foreign exchange swaps and forward foreign exchange cont racts to manage the 
currency and timing mismatches arising in its liquidity management activities.  
Commodity risk 
Various commodity products are used in the Company’s manufacturing activities. Consequently it is exposed to volatility in fu ture cash flows arising 
from changes in commodity prices. To manage the price risk of commodities, the Com pany’s policies require that its subsidiaries hedge the commodity 
price risk exposures from binding contracts, as well as at least 50  percent (up to a maximum of 100 percent) of the forecasted commodity exposure over 
the next 12 months or longer (up to a maximum of 18 months). Primarily swap contracts are used to manage the associated price risks of commodities.  
Interest rate risk  
The Company has issued bonds at fixed rates. Interest rate swaps  and cross-currency interest rate swaps are used to manage the interest rate and 
foreign currency risk associated with certain debt and generally such swaps are designated as fair value hedges. In addition, from time to tim e, the 
Company uses instruments such as interest rate swaps, interest rate futures, bond futures or forward rate agreements to manag e interest rate risk 
arising from the Company’s balance sheet structure but does not designate such instruments as hedges.  
Volume of derivative activity 
In general, while the Company’s primary objective in its use of derivatives is to minimize exposures arising from its business, certain derivatives are 
designated and qualify for hedge accounting treatment while others either are not designated or do not qualify for hedge acco unting. 
Foreign exchange and interest rate derivatives  
The gross notional amounts of outstanding foreign exchange and interest rate derivatives (whether designated as hedges or not ) were as follows: 
 Type of derivative Total notional amounts at 
 ($ in millions) June 30, 2024 December 31, 2023 June 30, 2023 
 Foreign exchange contracts 13,924 12,335 14,256 
 Embedded foreign exchange derivatives 1,131 1,137 1,374 
 Cross-currency interest rate swaps 857 886 868 
 Interest rate contracts 1,071 1,606 2,198 
 
Derivative commodity contracts 
The Company uses derivatives to hedge its direct or indirect exposure to the movement in the prices of commodities which are primarily copper, silver, 
steel and aluminum. The following table shows the notional amounts of outstanding derivatives (whether designated as hedges or not), on a net bas is, 
to reflect the Company’s requirements for these commodities: 
 Type of derivative Unit Total notional amounts at 
   June 30, 2024 December 31, 2023 June 30, 2023 
 Copper swaps metric tonnes 29,453 35,015 32,894 
 Silver swaps ounces 1,754,340 2,359,363 1,726,172 
 Steel swaps metric tonnes 16,738 10,206 11,158 
 Aluminum swaps metric tonnes 5,125 5,900 5,950 
 
Cash flow hedges 
As noted above, the Company mainly uses forward foreign exchange contracts to manage the foreign exchange risk of its operations and commodity 
swaps to manage its commodity risks. The Company applies cash flow hedge accounting in only limited cases. In these cases, th e effective portion of 
the changes in their fair value is recorded in Accumulated other comprehensive loss and subsequently reclassified into earnin gs in the same line item 
and in the same period as the underlying hedged transaction affects earnings. For the six and three months ended June  30, 2024 and 2023, there were no 
significant amounts recorded for cash flow hedge accounting activities.  
Fair value hedges 
To reduce its interest rate exposure arising primarily from its debt issuance activities, the Company uses interest rate swap s and cross-currency interest 
rate swaps. Where such instruments are designated as fair value hedges, the changes in the fair value of these instruments, as well as the changes in the 
fair value of the risk component of the underlying debt being hedged, are recorded as offsetting gains and losses in Interest  and other finance expense.

===== SIDA 30 =====

17 Q2 2024 FINANCIAL INFORMATION  
The effect of derivative instruments, designated and qualifying as fair value hedges, on the Consolidated Income Statements w as as follows: 
   Six months ended June 30, Three months ended June 30, 
 ($ in millions)  2024 2023 2024 2023 
 Gains (losses) recognized in Interest and other finance expense:      
 Interest rate contracts Designated as fair value hedges 10 18 (3) 8 
  Hedged item (10) (18) 4 (8) 
 Cross-currency interest rate swaps Designated as fair value hedges (5) (10) (2) 1 
  Hedged item 6 – 3 (2) 
 
Derivatives not designated in hedge relationships  
Derivative instruments that are not designated as hedges or do not qualify as either cash flow or fair value hedges are econo mic hedges used for risk 
management purposes. Gains and losses from changes in the fair values of such derivatives are recognized in the same line in the income statement as 
the economically hedged transaction. 
Furthermore, under certain circumstances, the Company is required to split and account separately for foreign currency deriva tives that are embedded 
within certain binding sales or purchase contracts denominated in a currency other than the functional currency of the subsid iary and the counterparty. 
The gains (losses) recognized in the Consolidated Income Statements on derivatives not designated in hedging relationships we re as follows: 
 Type of derivative not Gains (losses) recognized in income 
 designated as a hedge  Six months ended June 30, Three months ended June 30, 
 ($ in millions) Location 2024 2023 2024 2023 
 Foreign exchange contracts Total revenues (186) 5 (18) (6) 
  Total cost of sales 52 (12) 5 (11) 
  SG&A expenses(1) 21 14 8 8 
  Non-order related research      
  and development (1) (1) 1 (1) 
  Interest and other finance expense 194 (62) (53) (104) 
 Embedded foreign exchange Total revenues 16 45 (2) 38 
 contracts Total cost of sales (4) (1) – – 
 Commodity contracts Total cost of sales 45 (15) 36 (26) 
 Other Interest and other finance expense (2) 1 – 1 
 Total  135 (26) (23) (101) 
(1) SG&A expenses represent “Selling, general and  administrative expenses”.  
The fair values of derivatives included in the Consolidated Balance Sheets were as follows:  
  June 30, 2024 
  Derivative assets  Derivative liabilities 
  Current in Non-current in  Current in Non-current in 
  “Other current “Other non-current  “Other current “Other non-current 
 ($ in millions) assets” assets”  liabilities” liabilities” 
 Derivatives designated as hedging instruments:      
 Foreign exchange contracts – –  3 – 
 Interest rate contracts – –  – 10 
 Cross-currency interest rate swaps – –  – 265 
 Other 8 –  – – 
 Total 8 –  3 275 
       
 Derivatives not designated as hedging instruments:       
 Foreign exchange contracts 74 22  101 8 
 Commodity contracts 35 –  3 – 
 Interest rate contracts 1 –  2 – 
 Embedded foreign exchange derivatives 23 5  10 2 
 Other – 3  – – 
 Total 133 30  116 10 
 Total fair value 141 30  119 285

===== SIDA 31 =====

18 Q2 2024 FINANCIAL INFORMATION  
  December 31, 2023 
  Derivative assets  Derivative liabilities 
  Current in Non-current in  Current in Non-current in 
  “Other current “Other non-current  “Other current “Other non-current 
 ($ in millions) assets” assets”  liabilities” liabilities” 
 Derivatives designated as hedging instruments:      
 Foreign exchange contracts – –  5 2 
 Interest rate contracts – –  18 – 
 Cross-currency interest rate swaps – –  – 230 
 Other 10 –  – – 
 Total 10 –  23 232 
       
 Derivatives not designated as hedging instruments:       
 Foreign exchange contracts 123 30  177 9 
 Commodity contracts 8 –  3 – 
 Interest rate contracts 1 –  1 – 
 Other equity contracts 4 –  – – 
 Embedded foreign exchange derivatives 23 5  26 5 
 Total 159 35  207 14 
 Total fair value 169 35  230 246 
 
Close-out netting agreements provide for the termination, valuation and net settlement of some or all outstanding transactions between two 
counterparties on the occurrence of one or more pre-defined trigger events. 
Although the Company is party to close-out netting agreements with most derivative counterparties, the fair values in the tables above and in the 
Consolidated Balance Sheets at June 30, 2024, and December 31, 2023, have been presented on a gross basis.  
The Company’s netting agreements and other similar arrangements allow net settlements under certain conditions. At June  30, 2024, and December  31, 
2023, information related to these offsetting arrangements was as follows:  
 ($ in millions) June 30, 2024 
  Gross amount Derivative liabilities Cash Non-cash  
 Type of agreement or of recognized eligible for set-off collateral collateral Net asset 
 similar arrangement assets in case of default received received exposure 
 Derivatives 143 (61) – – 82 
 Total 143 (61) – – 82 
       
 ($ in millions) June 30, 2024 
  Gross amount Derivative liabilities Cash Non-cash  
 Type of agreement or   of recognized eligible for set-off collateral collateral Net liability 
 similar arrangement liabilities in case of default pledged pledged exposure 
 Derivatives 392 (61) – – 331 
 Total 392 (61) – – 331 
 
 ($ in millions) December 31, 2023 
  Gross amount Derivative liabilities Cash Non-cash  
 Type of agreement or   of recognized eligible for set-off collateral collateral Net asset 
 similar arrangement  assets in case of default received received exposure 
 Derivatives 176 (111) – – 65 
 Total 176 (111) – – 65 
       
  
 ($ in millions) December 31, 2023 
  Gross amount Derivative liabilities Cash Non-cash  
 Type of agreement or  of recognized eligible for set-off collateral  collateral Net liability 
 similar arrangement liabilities  in case of default pledged pledged exposure 
 Derivatives 445 (111) – – 334 
 Total 445 (111) – – 334

===== SIDA 32 =====

19 Q2 2024 FINANCIAL INFORMATION  
─ 
Note 6 
Fair values 
The Company uses fair value measurement principles to record certain financial assets and liabilities on a recurring basis an d, when necessary, to record 
certain non-financial assets at fair value on a non -recurring basis, as well as to determine fair value disclosures for certain financial instruments carried 
at amortized cost in the financial statements. Financial assets and liabilities recorded at fair value on a recurring basis i nclude foreign currency, 
commodity and interest rate derivatives, as well as available -for-sale securities. Non-financial assets recorded at fair value on a non -recurring basis 
include long-lived assets that are reduced to their estimated fair value due to impairments.  
Fair value is the price that would be received when selling an asset or paid to transfer a liability in an orderly transactio n between market participants at 
the measurement date. In determining fair value, the Company uses various valuation techniques including the market approach (using observable 
market data for identical or similar assets and liabilities), the income approach (discounted cash flow models) and the cost approach (using costs a 
market participant would incur to develop a comparable asset). Inputs used to determine the fair value of assets and liabilit ies are defined by a 
three-level hierarchy, depending on the nature of those inputs. The Company has categorized its financial assets and liabilities and non -financial assets 
measured at fair value within this hierarchy based on whether the inputs to the valuation technique are observable or unobser vable. An observable input 
is based on market data obtained from independent sources, while an unobservable input reflects the Company’s assumptions abo ut market data. 
The levels of the fair value hierarchy are as follows:  
Level 1:  Valuation inputs consist of quoted prices in an active market for identical assets or liabilities (observable quoted prices).  Assets and liabilities 
valued using Level 1 inputs include exchange‑traded equity securities, listed derivatives which are actively traded such as commodity futures, 
interest rate futures and certain actively traded debt securities . 
Level 2:  Valuation inputs consist of observable inputs (other than Level 1 inputs) such as actively quoted prices for similar assets, quoted prices in 
inactive markets and inputs other than quoted prices such as interest rate yield curves, credit spreads, or inputs derived fr om other observable 
data by interpolation, correlation, regression or other means. The adjustments applied to quoted prices or the inputs used in  valuation models 
may be both observable and unobservable. In these cases, the fair value measurement is classified as Level 2 unless the unobs ervable portion of 
the adjustment or the unobservable input to the valuation model is significant, in which case the fair value measurement woul d be classified as 
Level 3. Assets and liabilities valued or disclosed using Level 2 inputs include investments in certain funds, certain debt s ecurities that are not 
actively traded, interest rate swaps, cross-currency interest rate swaps, commodity swaps, forward foreign exchange contracts, foreign 
exchange swaps and forward rate agreements, time deposits, as well as financing receivables and debt.  
Level 3:  Valuation inputs are based on the Company’s assumptions of relevant market data (unobservable input).  
Whenever quoted prices involve bid-ask spreads, the Company ordinarily determines fair values based on mid -market quotes. When determining fair 
values based on quoted prices in an active market, the Company considers if the level of transaction activity for the financi al instrument has significantly 
decreased or would not be considered orderly. In such cases, the resulting changes in valuation techniques would be disclosed . If the market is 
considered disorderly or if quoted prices are not available, the Company is required to use another valuation technique, such  as an income approach. 
Recurring fair value measures 
The fair values of financial assets and liabilities measured at fair value on a recurring basis were as follows: 
  June 30, 2024 
 ($ in millions) Level 1 Level 2 Level 3 Total fair value 
 Assets     
 Securities in “Marketable securities and short-term investments”:     
 Equity securities – 612 – 612 
 Debt securities—U.S. government obligations 185 – – 185 
 Derivative assets—current in “Other current assets”  – 141 – 141 
 Derivative assets—non-current in “Other non-current assets” – 30 – 30 
 Total 185 783 – 968 
      
 Liabilities     
 Derivative liabilities—current in “Other current liabilities”  – 119 – 119 
 Derivative liabilities—non-current in “Other non-current liabilities” – 285 – 285 
 Total – 404 – 404 
 
 
  December 31, 2023 
 ($ in millions) Level 1 Level 2 Level 3 Total fair value 
 Assets     
 Securities in “Marketable securities and short-term investments”:     
 Equity securities – 1,282 – 1,282 
 Debt securities—U.S. government obligations 183 – – 183 
 Derivative assets—current in “Other current assets”  – 169 – 169 
 Derivative assets—non-current in “Other non-current assets” – 35 – 35 
 Total 183 1,486 – 1,669 
      
 Liabilities     
 Derivative liabilities—current in “Other current liabilities” – 230 – 230 
 Derivative liabilities—non-current in “Other non-current liabilities” – 246 – 246 
 Total – 476 – 476

===== SIDA 33 =====

20 Q2 2024 FINANCIAL INFORMATION  
The Company uses the following methods and assumptions in estimating fair values of financial assets and liabilities measured at fair value on a 
recurring basis: 
• Securities in “Marketable securities and short-term investments”: If quoted market prices in active markets for identical assets are available, 
these are considered Level 1 inputs; however, when markets are not active, these inputs are considered Level  2. If such quoted market prices 
are not available, fair value is determined using market prices for similar assets or present value techniques, applying an a ppropriate risk-free 
interest rate adjusted for non-performance risk. The inputs used in present value techniques are observable and fall into the Level  2 category.  
 
• Derivatives: The fair values of derivative instruments are determined using quoted prices of identical instruments from an active market, if 
available (Level 1 inputs). If quoted prices are not available, price quotes for similar instruments, appropriately adjusted, or present value  
techniques, based on available market data, or option pricing models are used. The fair values obtained using price quotes for similar 
instruments or valuation techniques represent a Level 2 input unless significant unobservable inputs are used.  
Non-recurring fair value measures  
There were no significant non-recurring fair value measurements during the six and three months ended June 30, 2024 and 2023. 
Disclosure about financial instruments carried on a cost basis  
The fair values of financial instruments carried on a cost basis were as follows:  
  June 30, 2024 
 ($ in millions) Carrying value  Level 1 Level 2 Level 3 Total fair value 
 Assets       
 Cash and equivalents (excluding securities with original        
 maturities up to 3 months):       
 Cash 1,599  1,599 – – 1,599 
 Time deposits 1,362  – 1,362 – 1,362 
 Restricted cash 18  18 – – 18 
 Marketable securities and short-term investments       
 (excluding securities):       
 Time deposits 492  – 492 – 492 
        
 Liabilities       
 Short-term debt and current maturities of long-term debt       
 (excluding finance lease obligations) 379  335 44 – 379 
 Long-term debt (excluding finance lease obligations)  6,166  6,163 8 – 6,171 
 
 
  December 31, 2023 
 ($ in millions) Carrying value  Level 1 Level 2 Level 3 Total fair value 
 Assets       
 Cash and equivalents (excluding securities with original        
 maturities up to 3 months):       
 Cash 1,431  1,431 – – 1,431 
 Time deposits 2,460  – 2,460 – 2,460 
 Restricted cash 18  18 – – 18 
 Marketable securities and short-term investments       
 (excluding securities):       
 Time deposits 463  – 463 – 463 
        
 Liabilities       
 Short-term debt and current maturities of long-term debt       
 (excluding finance lease obligations) 2,576  2,521 55 – 2,576 
 Long-term debt (excluding finance lease obligations)  5,060  5,096 5 – 5,101 
 
The Company uses the following methods and assumptions in estimating fair values of financial instruments carried on a cost b asis: 
• Cash and equivalents (excluding securities with original maturities up to 3  months), Restricted cash, and Marketable securities and short -term 
investments (excluding securities): The carrying amounts approximate the fair values as the items are short -term in nature or, for cash held in 
banks, are equal to the deposit amount. 
• Short-term debt and current maturities of long-term debt (excluding finance lease obligations): Short-term debt includes commercial paper, 
bank borrowings and overdrafts. The carrying amounts of short -term debt and current maturities of long-term debt, excluding finance lease 
obligations, approximate their fair values. 
• Long-term debt (excluding finance lease obligations): Fair values of bonds are determined using quoted market prices (Level  1 inputs), if 
available. For bonds without available quoted market prices and other long -term debt, the fair values are determined using a discounted cash 
flow methodology based upon borrowing rates of similar debt instruments and reflecting appropriate adjustments for non -performance risk 
(Level 2 inputs).

===== SIDA 34 =====

21 Q2 2024 FINANCIAL INFORMATION  
─ 
Note 7 
Contract assets and liabilities 
The following table provides information about Contract assets and Contract liabilities:  
 ($ in millions) June 30, 2024 December 31, 2023 June 30, 2023 
 Contract assets 1,118 1,090 1,010 
 Contract liabilities 2,973 2,844 2,394 
 
Contract assets primarily relate to the Company’s right to receive consideration for work completed but for which no invoice has been issued at the 
reporting date. Contract assets are transferred to receivables when rights to receive payment become unconditional. Management expects that the 
majority of the amounts will be collected within one year of the respective balance sheet date.  
Contract liabilities primarily relate to up-front advances received on orders from customers as well as amounts invoiced to customers in excess of 
revenues recognized predominantly on long-term projects. Contract liabilities are reduced as work is performed and as revenues are recognized . 
The significant changes in the Contract assets and Contract liabilities balances were as follows: 
  Six months ended June 30, 
  2024  2023 
  Contract  Contract  Contract  Contract 
 ($ in millions) assets  liabilities  assets  liabilities 
 Revenue recognized, which was included in the Contract liabilities balance at Jan 1, 2024/2023    (1,084)    (966) 
 Additions to Contract liabilities - excluding amounts recognized as revenue during the period    1,301    1,102 
 Receivables recognized that were included in the Contract assets balance at Jan 1, 2024/2023  (516)    (465)   
 
The Company considers its order backlog to represent its unsatisfied performance obligations. At June 30, 2024, the Company had unsatisfied 
performance obligations totaling $22,047 million and, of this amount, the Company expects to fulfill approximately 49% percent of the obligations in 
2024, approximately 33% percent of the obligations in 2025 and the balance thereafter. 
 
 
─ 
Note 8 
Supplier finance programs 
The Company has several supplier finance programs, all with similar characteristics, with various financial institutions acti ng as paying agent. These 
programs allow qualifying suppliers access to bank facilities which permit earlier payment at a cost to the supplier. The Company’s payment terms 
related to suppliers’ finance programs are not impacted by the suppliers’ decisions to sell amounts under the arrangements an d are typically consistent 
with local market practices. Outstanding supplier finance obligations are included in “Accounts payable, trade” in the Consol idated Balance Sheets and 
are reported as operating or investing (if capitalized) activities in the Consolidated Statement of Cash Flows when paid. At June 30, 2024, and 
December 31, 2023, the total obligation outstanding under supplier finance programs amounted to $485 million and $415 million, respectively.

===== SIDA 35 =====

22 Q2 2024 FINANCIAL INFORMATION  
─ 
Note 9 
Debt 
The Company’s total debt at June 30, 2024, and December 31, 2023, amounted to $6,748 million and $7,828 million, respectively. 
Short-term debt and current maturities of long-term debt  
The Company’s “Short-term debt and current maturities of long-term debt” consisted of the following:  
 ($ in millions) June 30, 2024 December 31, 2023 
 Short-term debt 62 87 
 Current maturities of long-term debt 348 2,520 
 Total 410 2,607 
 
Short-term debt primarily represented short-term bank borrowings from various banks. 
In May 2024, the Company repaid at maturity its EUR  750 million 0.75% EUR Instruments, equivalent to $ 816 million on date of repayment. In April 2024, 
the Company repaid at maturity its EUR 700 million 0.625% EUR Instruments, equivalent to $752  million on date of repayment and in March 2024, the 
Company repaid at maturity its EUR 500 million Floating Rate Instruments, equivalent to $539 million on date of repayment.  
Long-term debt 
The Company’s long-term debt at June 30, 2024, and December 31, 2023, amounted to $6,338 million and $5,221 million, respectively.  
Outstanding bonds (including maturities within the next 12 months) were as follows:   
  June 30, 2024 December 31, 2023 
 (in millions) Nominal outstanding  Carrying value(1) Nominal outstanding  Carrying value(1) 
 Bonds:         
 Floating Rate EUR Instruments, due 2024     EUR 500 $ 554 
 0.625% EUR Instruments, due 2024     EUR 700 $ 768 
 0.75% EUR Instruments, due 2024     EUR 750 $ 819 
 0.3% CHF Bonds, due 2024 CHF 280 $ 311 CHF 280 $ 335 
 2.1% CHF Bonds, due 2025 CHF 150 $ 167 CHF 150 $ 179 
 1.965% CHF Bonds, due 2026 CHF 325 $ 361 CHF 325 $ 387 
 3.25% EUR Instruments, due 2027 EUR 500 $ 533 EUR 500 $ 551 
 0.75% CHF Bonds, due 2027 CHF 425 $ 472 CHF 425 $ 507 
 3.8% USD Notes, due 2028(2) USD 383 $ 382 USD 383 $ 382 
 1.9775% CHF Bonds, due 2028 CHF 150 $ 166 CHF 150 $ 179 
 3.125% EUR Instruments, due 2029 EUR 500 $ 530     
 1.0% CHF Bonds, due 2029 CHF 170 $ 189 CHF 170 $ 203 
 0% EUR Instruments, due 2030 EUR 800 $ 714 EUR 800 $ 749 
 2.375% CHF Bonds, due 2030 CHF 150 $ 166 CHF 150 $ 178 
 3.375% EUR Instruments, due 2031 EUR 750 $ 792 EUR 750 $ 818 
 2.1125% CHF Bonds, due 2033 CHF 275 $ 305 CHF 275 $ 327 
 3.375% EUR Instruments, due 2034 EUR 750 $ 791     
 4.375% USD Notes, due 2042(2) USD 609 $ 591 USD 609 $ 591 
 Total    $ 6,470   $ 7,527 
(1)  USD carrying values include unamortized debt issuance costs, bond discounts or premiums, as well as adjustments for fair value hedge accounting, where appropriate. 
(2)  Prior to completing a cash tender offer in November 2020, the original principal amount outstanding, on each of the 3.8% USD Notes, due 2028, and the 4.375% USD 
Notes, due 2042, was USD 750 million. 
In January 2024, the Company issued the following EUR Instruments: (i) EUR  500 million of 3.125 percent Instruments, due 2029, and (ii) EUR 750 million 
of 3.375 percent Instruments, due 2034, both paying interest annually in arrears. The aggregate net proceeds of these EUR Instruments,  after discount 
and fees, amounted to EUR 1,243 million (equivalent to approximately $1,360 million on date of issuance).

===== SIDA 36 =====

23 Q2 2024 FINANCIAL INFORMATION  
─ 
Note 10 
Commitments and contingencies 
Contingencies—Regulatory, Compliance and Legal 
Regulatory 
Based on findings during an internal investigation, the Company self -reported to the Securities and Exchange Commission (SEC) and the Department of 
Justice (DoJ), in the United States, to the Special Investigating Unit (SIU) and the National Prosecuting Authority (NPA) in South Africa as well as to 
various authorities in other countries potential suspect payments and other compliance concerns in connection with some of th e Company’s dealings 
with Eskom and related persons. Many of those parties have expressed an interest in, or commenced an investigation into, thes e matters and the 
Company is cooperating fully with them. The Company paid $104  million to Eskom in December 2020 as part of a full and final settlement with Eskom 
and the SIU relating to improper payments and other compliance issues associated with the Controls and Instrumentation Contra ct, and its Variation 
Orders for Units 1 and 2 at Kusile. The Company made a provision of approximately $325  million which was recorded in Other income (expense), net, 
during the third quarter of 2022. In December 2022, the Company settled with the SEC and D oJ as well as the authorities in South Africa and Switzerland. 
In March 2024, the Company settled its final pending matter with the authorities in Germany. The Company does not believe tha t it will need to record 
any additional provisions for this matter. 
General 
The Company is aware of proceedings, or the threat of proceedings, against it and others in respect of private claims by cust omers and other third 
parties with regard to certain actual or alleged anticompetitive practices. Also, the Company is subject to other claims and legal proceedings, as well as 
investigations carried out by various law enforcement authorities. With respect to the above -mentioned claims, regulatory matters, and any related 
proceedings, the Company will bear the related costs, including costs necessary to resolve them.  
Liabilities recognized 
At June 30, 2024, and December 31, 2023, the Company had aggregate liabilities of $80 million and $101 million, respectively, included in Other provisions 
and Other non‑current liabilities, for the above regulatory, compliance and legal contingencies, and none of the individual liabilities rec ognized was 
significant. As it is not possible to make an informed judgment on, or reasonably predict, the outcome of certain matters and  as it is not possible, based 
on information currently available to management, to estimate the maximum potential liability on other matters, there could b e adverse outcomes 
beyond the amounts accrued. 
Guarantees  
General 
The following table provides quantitative data regarding the Company’s third -party guarantees. The maximum potential payments represent a 
“worst-case scenario”, and do not reflect management’s expected outcomes.  
 Maximum potential payments ($ in millions) June 30, 2024 December 31, 2023 
 Performance guarantees 3,342 3,451 
 Financial guarantees 22 94 
 Total(1) 3,364 3,545 
(1) Maximum potential payments include amounts in both continuing and discontinued operations. 
The carrying amount of liabilities recorded in the Consolidated Balance Sheets reflects the Company’s best estimate of future  payments, which it may 
incur as part of fulfilling its guarantee obligations. In respect of the above guarantees, the carrying amounts of liabilities at June 30, 2024, and 
December 31, 2023, were not significant. 
The Company is party to various guarantees providing financial or performance assurances to certain third parties. These guar antees, which have 
various maturities up to 2034, mainly consist of performance guarantees whereby (i)  the Company guarantees the performance of a third party’s 
product or service according to the terms of a contract and (ii)  as member of a consortium/joint-venture that includes third parties, the Company 
guarantees not only its own performance but also the work of third parties. Such guarantees may include guarantees that a pro ject will be completed 
within a specified time. If the third party does not fulfill the obligation, the Company will compensate the guaranteed party  in cash or in kind. The 
original maturity dates for the majority of these performance guarantees range from one to ten years. 
In conjunction with the divestment of the high-voltage cable and cables accessories businesses, the Company has entered into various performance 
guarantees with other parties with respect to certain liabilities of the divested business. At  June 30, 2024, and December 31, 2023, the maximum 
potential payable under these guarantees amounts to $840 million and $874 million, respectively, and these guarantees have various original maturities 
ranging from five to ten years. 
The Company retained obligations for financial and performance guarantees related to its former Power Grids business (reporte d as discontinued 
operations prior to its sale to Hitachi Ltd in 2020), which at both June 30, 2024, and December 31, 2023, have been fully indemnified by Hitachi Ltd. These 
guarantees, having various maturities up to 203 4, primarily consist of bank guarantees, standby letters of credit, business performance guarantees and 
other trade-related guarantees, the majority of which have original maturity dates ranging from one to ten years. The maximum amount paya ble under 
these guarantees at June 30, 2024, and December 31, 2023, is approximately $2.1 billion and $2.2 billion, respectively. 
Commercial commitments 
In addition, in the normal course of bidding for and executing certain projects, the Company has entered into standby letters  of credit, bid/performance 
bonds and surety bonds (collectively “performance bonds”) with various financial institutions. Customers can draw on such per formance bonds in the 
event that the Company does not fulfill its contractual obligations. The Company would then have an obligation to reimburse t he financial institution for 
amounts paid under the performance bonds. At June 30, 2024, and December 31, 2023, the total outstanding performance bonds aggregated to  
$3.3 billion and $3.1 billion, respectively. There have been no significant amounts reimbursed to financial institutions under these types of arran gements 
in the six and three months ended June 30, 2024 and 2023.

===== SIDA 37 =====

24 Q2 2024 FINANCIAL INFORMATION  
Product and order-related contingencies 
The Company calculates its provision for product warranties based on historical claims experience and specific review of cert ain contracts. The 
reconciliation of the Provisions for warranties, including guarantees of product performance, was as follows:  
 ($ in millions) 2024 2023 
 Balance at January 1, 1,210 1,028 
 Claims paid in cash or in kind (78) (85) 
 Net increase in provision for changes in estimates, warranties issued and warranties expired  120 136 
 Exchange rate differences (40) (3) 
 Balance at June 30, 1,212 1,076 
 
 
 
─ 
Note 11 
Income taxes 
In calculating income tax expense, the Company uses an estimate of the annual effective tax rate based upon the facts and cir cumstances known at each 
interim period. On a quarterly basis, the actual effective tax rate is adjusted, as appropriate, based upon changed facts and  circumstances, if any, as 
compared to those forecasted at the beginning of the year and each interim period thereafter.  
The effective tax rate of 24.5 percent in the six months ended June 30, 2024, was higher than the effective tax rate of 19.0 percent in the six months 
ended June 30, 2023, primarily due to a net benefit of $206 million realized on a favorable resolution of an uncertain tax position in the six months ended 
June 30, 2023, partially offset by a net benefit of $72 million from a partial reversal of an uncertain tax position related to the reassessment of certain tax 
risks in the six months ended June 30, 2024. The former resulted in an increase of $0.11 in earnings per share (basic and diluted) for the six months 
ended June 30, 2023, while the latter resulted in an increase of $0.04 in earnings per share (basic and diluted) for the six and three months ended 
June 30, 2024. 
 
 
─ 
Note 12 
Employee benefits 
The Company operates defined benefit pension plans, defined contribution pension plans, and termination indemnity plans, in a ccordance with local 
regulations and practices. At June 30, 2024, the Company’s most significant defined benefit pension plans are in Switzerland as well as in Germany, the 
United Kingdom, and the United States. These plans cover a large portion of the Company’s employees and provide benefits to employees in the event 
of death, disability, retirement, or termination of employment. Certain of these plans are multi -employer plans. The Company also operates other 
postretirement benefit plans including postretirement health care benefits and other employee -related benefits for active employees including 
long-service award plans. The postretirement benefit plans are not significant. The measurement date used for the Company’s employ ee benefit plans is 
December 31. The funding policies of the Company’s plans are consistent with the local government and tax requirements.  
Net periodic benefit cost of the Company’s defined benefit pension plans consist s of the following: 
 ($ in millions) Defined pension benefits 
  Switzerland International 
 Six months ended June 30, 2024 2023 2024 2023 
 Operational pension cost:     
 Service cost 23 19 13 14 
 Operational pension cost 23 19 13 14 
 Non-operational pension cost (credit):     
 Interest cost 17 24 78 82 
 Expected return on plan assets (62) (63) (85) (74) 
 Amortization of prior service cost (credit) (4) (4) (1) (1) 
 Amortization of net actuarial loss – – 26 23 
 Curtailments, settlements and special termination benefits  2 – 4 – 
 Non-operational pension cost (credit)(1) (47) (43) 22  30  
 Net periodic benefit cost (credit) (24) (24) 35 44

===== SIDA 38 =====

25 Q2 2024 FINANCIAL INFORMATION  
 ($ in millions) Defined pension benefits 
  Switzerland International 
 Three months ended June 30, 2024 2023 2024 2023 
 Operational pension cost:     
 Service cost 12 10 5 6 
 Operational pension cost 12 10 5 6 
 Non-operational pension cost (credit):     
 Interest cost 8 12 39 42 
 Expected return on plan assets (31) (30) (42) (35) 
 Amortization of prior service cost (credit) (2) (4) – (1) 
 Amortization of net actuarial loss – – 13 10 
 Curtailments, settlements and special termination benefits  2 – 4 – 
 Non-operational pension cost (credit)(1) (23) (22) 14  16 
 Net periodic benefit cost (credit) (11) (12) 19 22 
(1) Total Non-operational pension cost (credit) includes additional credits of $(1) million and $(2) million for the six months ended June 30, 2024 and 2023, respectively, and 
additional credits of $(1) million and $(2) million for the three months ended June 30, 2024 and 2023, respectively, related to other postretirement benefits. 
The components of net periodic benefit cost other than the service cost component are included in the line Non -operational pension cost (credit) in the 
Consolidated Income Statements. 
Employer contributions were as follows: 
 ($ in millions) Defined pension benefits 
  Switzerland International 
 Six months ended June 30, 2024 2023 2024 2023 
 Total contributions to defined benefit pension plans  28 5 26 21 
 
 ($ in millions) Defined pension benefits 
  Switzerland International 
 Three months ended June 30, 2024 2023 2024 2023 
 Total contributions to defined benefit pension plans  15 3 15 10 
 
The Company expects to make contributions totaling approximately $92 million to its defined benefit pension plans for the full year 202 4. 
 
 
─ 
Note 13 
Stockholder's equity  
At the Annual General Meeting of Shareholders (AGM) on March 21, 2024, shareholders approved the proposal of the Board of Directors to distribute 
0.87 Swiss francs per share to shareholders. The declared dividend amounted to $ 1,804 million, with the Company disbursing a portion in March and the 
remaining amounts in April. 
In March 2024, the Company completed the share buyback program that was launched in April 2023. This program was executed on a second trading line 
on the SIX Swiss Exchange. Through this program, the Company purchased a total of 21 million shares for approximately $0.8 billion, of which 4 million 
shares were purchased in the first quarter of 2024 (resulting in an increase in Treasury stock of $187 million). 
Also in March 2024, the Company announced a new share buyback program of up to $ 1 billion. This program, which was launched in April 2024, is being 
executed on a second trading line on the SIX Swiss Exchange and is planned to run until January 2025. Through this program, the Company purchased, 
from the program’s launch in April 2024 to June 30, 2024, 4 million shares, resulting in an increase in Treasury stock of $190 million. 
In the second quarter of 2024, the Company cancelled 21 million shares which had been purchased under its share buyback program. This resulted in a 
decrease in Treasury stock of $832 million and a corresponding total decrease in Capital stock, Additional paid -in capital and Retained earnings. 
During the first half of 2024, the Company delivered, out of treasury stock, approximately 16 million shares in connection with its Management Incentive 
Plan.

===== SIDA 39 =====

26 Q2 2024 FINANCIAL INFORMATION  
─ 
Note 14 
Earnings per share 
Basic earnings per share is calculated by dividing income by the weighted -average number of shares outstanding during the period. Diluted earnings per 
share is calculated by dividing income by the weighted -average number of shares outstanding during the period, assuming that all potentially dilutive 
securities were exercised, if dilutive. Potentially dilutive securities comprise outstanding written call options, and outsta nding options and shares 
granted subject to certain conditions under the Company’s share -based payment arrangements. 
 Basic earnings per share   
  Six months ended June 30, Three months ended June 30, 
 ($ in millions, except per share data in $) 2024 2023 2024 2023 
 Amounts attributable to ABB shareholders:      
 Income from continuing operations, net of tax  2,004 1,951 1,098 910 
 Loss from discontinued operations, net of tax  (3) (9) (2) (4) 
 Net income 2,001 1,942 1,096 906 
      
 Weighted-average number of shares outstanding (in millions)  1,844 1,861 1,849 1,862 
      
 Basic earnings per share attributable to ABB shareholders:      
 Income from continuing operations, net of tax 1.09 1.05 0.59 0.49 
 Loss from discontinued operations, net of tax  0.00 0.00 0.00 0.00 
 Net income 1.09 1.04 0.59 0.49 
      
 Diluted earnings per share   
  Six months ended June 30, Three months ended June 30, 
 ($ in millions, except per share data in $) 2024 2023 2024 2023 
 Amounts attributable to ABB shareholders:      
 Income from continuing operations, net of tax  2,004 1,951 1,098 910 
 Loss from discontinued operations, net of tax  (3) (9) (2) (4) 
 Net income 2,001 1,942 1,096 906 
      
 Weighted-average number of shares outstanding (in millions)  1,844 1,861 1,849 1,862 
 Effect of dilutive securities:     
 Call options and shares 9 12 6 11 
 Adjusted weighted-average number of shares outstanding (in millions) 1,853 1,873 1,855 1,873 
      
 Diluted earnings per share attributable to ABB shareholders:      
 Income from continuing operations, net of tax  1.08 1.04 0.59 0.49 
 Loss from discontinued operations, net of tax  0.00 0.00 0.00 0.00 
 Net income 1.08 1.04 0.59 0.48

===== SIDA 40 =====

27 Q2 2024 FINANCIAL INFORMATION  
─ 
Note 15 
Reclassifications out of accumulated other comprehensive loss 
The following table shows changes in “Accumulated other comprehensive loss” (OCI) attributable to ABB, by component, net of t ax: 
   Unrealized gains Pension and   
  Foreign currency (losses) on other Derivative  
  translation available-for-sale postretirement instruments  
 ($ in millions) adjustments securities plan adjustments and hedges Total OCI 
 Balance at January 1, 2023 (3,691) (19) (838) (8) (4,556) 
 Other comprehensive (loss) income:      
 Other comprehensive (loss) income      
 before reclassifications (79) 2 (13) (1) (91) 
 Amounts reclassified from OCI – 5 8 4 17 
 Total other comprehensive (loss) income  (79) 7 (5) 3 (74) 
       
 Less:      
 Amounts attributable to      
 noncontrolling interests and      
 redeemable noncontrolling interests (3) – – – (3) 
 Balance at June 30, 2023 (3,767) (12) (843) (5) (4,627) 
 
 
   Unrealized gains Pension and   
  Foreign currency (losses) on other Derivative  
  translation available-for-sale postretirement instruments  
 ($ in millions) adjustments securities plan adjustments and hedges Total OCI 
 Balance at January 1, 2024 (3,977) (8) (1,075) (10) (5,070) 
 Other comprehensive (loss) income:      
 Other comprehensive (loss) income      
 before reclassifications (16) (1) 31 1 15 
 Amounts reclassified from OCI – – 19 3 22 
 Changes attributable to divestments 1 – – – 1 
 Total other comprehensive (loss) income (15) (1) 50 4 38 
       
 Less:      
 Amounts attributable to      
 noncontrolling interests and      
 redeemable noncontrolling interests (16) – – – (16) 
 Balance at June 30, 2024 (3,976) (9) (1,025) (6) (5,016) 
 
The amounts reclassified out of OCI for the six and three months ended June  30, 2024 and 2023, were not significant.  
 
 
─ 
Note 16 
Operating segment data 
The Chief Operating Decision Maker (CODM) is the Chief Executive Officer. The CODM allocates resources to and assesses the performance of each 
operating segment using the information outlined below. The Company is organized into the following segments, based on products and services: 
Electrification, Motion, Process Automation and Robotics & Discrete Automation. The remaining operations of the Company are i ncluded in Corporate 
and Other. 
A description of the types of products and services provided by each reportable segment is as follows:  
• Electrification: manufactures and sells electrical products and solutions which are designed to provide safe, smart and sustainable electrical 
flow from the substation to the socket. The portfolio of increasingly digital and connected solutions includes renewable power 
solutions, modular substation packages, distribution automation products, switchboard s and panelboards, switchgear, UPS solutions, circuit 
breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems and intelligent  home and 
building solutions, designed to integrate and automate lighting, heating, ventilation, security and data communication networ ks. The 
products and services are currently delivered through five operating Divisions: Distribution Solutions, Smart Power, Smart Buildings, 
Installation Products and Service, as well as, prior to its sale in July 2023, the Power Conversion Division. 
 
• Motion: designs, manufactures, and sells drives, motors, generators and traction converters that are driving the low -carbon future for 
industries, cities, infrastructure and transportation. These products, digital technology and related services enable industr ial customers to 
increase energy efficiency, improve safety and reliability, and achieve precise control of their processes. Building on over 140 years of 
cumulative experience in electric powertrains, Motion combines domain expertise and technology to deliver the optimum solution for a wide 
range of applications in all industrial segments. In addition, Motion, along with its partners, has a leading global service presence. These 
products and services are delivered through seven operating Divisions: Large Motors and Generators, IEC LV Motors, NEMA Motors, Drive 
Products, System Drives, Service and Traction.

===== SIDA 41 =====

28 Q2 2024 FINANCIAL INFORMATION  
• Process Automation: offers a broad range of industry-specific, integrated automation, electrification and digital solutions, as well as lifecycle 
services for the process, hybrid and marine industries. The product portfolio includes control technologies, industrial software, advanced 
analytics, sensing and measurement technology, and marine propulsion systems. In addition, Process Automation offers a comprehensive 
range of services, from repair to advanced digital capabilities such as remote monitoring, preventive maintenance, asset performance 
management, emission monitoring and cybersecurity . The products, systems and services are delivered through four operating Divisions: 
Energy Industries, Process Industries, Marine & Ports and Measurement &  Analytics. 
 
• Robotics & Discrete Automation: delivers its products, solutions and services through two operating Divisions. Robotics provides industrial 
and collaborative robots, autonomous mobile robotics, mapping and navigation solutions, robotic solutions, field services, spare parts and 
digital services. Machine Automation specializes in automation solutions based on its programmable logic controllers (PLC), i ndustrial PCs 
(IPC), servo motion, transport systems and machine vision. Both divisions offer software across the entire life cycle, includ ing engineering and 
simulation software as well as a comprehensive range of digital solutions.  
Corporate and Other: Corporate includes headquarter costs, the Company’s corporate real estate activities and Corporate Treasury while Other inclu des 
the E-mobility operating segment, other non-core operating activities as well as the operating activities of certain divested businesses.  
The primary measure of profitability on which the operating segments are evaluated is Operational EBITA, which represents inc ome from operations 
excluding: 
• amortization expense on intangibles arising upon acquisition ( acquisition-related amortization),  
• restructuring, related and implementation costs , 
• changes in the amount recorded for obligations related to divested businesses occurring after the divestment date (changes in  obligations 
related to divested businesses), 
• gains and losses from sale of businesses (including fair value adjustment on assets and liabilities held for sale , if any),  
• acquisition- and divestment-related expenses and integration costs, 
• certain other non-operational items, as well as  
• foreign exchange/commodity timing differences in income from operations consisting of:  (a) unrealized gains and losses on derivatives 
(foreign exchange, commodities, embedded derivatives), (b)  realized gains and losses on derivatives where the underlying hedged transaction 
has not yet been realized, and (c) unrealized foreign exchange movements on receivables/payables (and related assets/liabilities).  
Certain other non-operational items generally includes certain regulatory, compliance and legal costs, certain asset write downs/impairments  and 
certain other fair value changes, as well as other items which are determined by management on a case -by-case basis. 
The CODM primarily reviews the results of each segment on a basis that is before the elimination of profits made on inventory  sales between segments. 
Segment results below are presented before these eliminations, with a total deduction for intersegment profits to arrive at t he Company’s consolidated 
Operational EBITA. Intersegment sales and transfers are accounted for as if the sales and transfers were to third parties, at  current market prices. 
The following tables present disaggregated segment revenues from contracts with customers, Operational EBITA, and the reconciliations of 
consolidated Operational EBITA to Income from continuing operations before taxes for the six and three months ended June  30, 2024 and 2023, as well 
as total assets at June 30, 2024, and December 31, 2023. 
  Six months ended June 30, 2024 
     Robotics &   
    Process Discrete Corporate  
 ($ in millions) Electrification Motion Automation Automation and Other Total 
 Geographical markets        
 Europe  2,296 1,062 1,181 924 116 5,579 
 The Americas  3,172 1,293 920 273 91 5,749 
 of which: United States 2,457 1,056 579 170 69 4,331 
 Asia, Middle East and Africa  1,893 1,142 1,200 495 51 4,781 
 of which: China 871 546 361 343 11 2,132 
  7,361 3,497 3,301 1,692 258 16,109 
 Product type        
 Products 6,862 2,926 1,938 1,398 231 13,355 
 Services and other 499 571 1,363 294 27 2,754 
  7,361 3,497 3,301 1,692 258 16,109 
        
 Third-party revenues 7,361 3,497 3,301 1,692 258 16,109 
 Intersegment revenues 128 283 17 5 (433) – 
 Total revenues(1) 7,489 3,780 3,318 1,697 (175) 16,109

===== SIDA 42 =====

29 Q2 2024 FINANCIAL INFORMATION  
  Six months ended June 30, 2023 
     Robotics &   
    Process Discrete Corporate  
 ($ in millions) Electrification Motion Automation Automation and Other Total 
 Geographical markets        
 Europe  2,328 1,289 1,081 956 153 5,807 
 The Americas  2,932 1,267 868 272 129 5,468 
 of which: United States 2,179 1,061 550 175 111 4,076 
 Asia, Middle East and Africa  1,948 1,117 1,027 623 32 4,747 
 of which: China 917 581 339 475 17 2,329 
  7,208 3,673 2,976 1,851 314 16,022 
 Product type        
 Products 6,762 3,169 1,743 1,576 280 13,530 
 Services and other 446 504 1,233 275 34 2,492 
  7,208 3,673 2,976 1,851 314 16,022 
        
 Third-party revenues 7,208 3,673 2,976 1,851 314 16,022 
 Intersegment revenues 117 248 13 8 (386) – 
 Total revenues(1) 7,325 3,921 2,989 1,859 (72) 16,022 
 
  Three months ended June 30, 2024 
     Robotics &   
    Process Discrete Corporate  
 ($ in millions) Electrification Motion Automation Automation and Other Total 
 Geographical markets        
 Europe  1,142 574 626 434 55 2,831 
 The Americas  1,643 663 473 133 48 2,960 
 of which: United States 1,271 540 294 85 31 2,221 
 Asia, Middle East and Africa  957 584 607 264 36 2,448 
 of which: China 456 290 196 186 6 1,134 
  3,742 1,821 1,706 831 139 8,239 
 Product type        
 Products 3,482 1,531 1,027 687 125 6,852 
 Services and other 260 290 679 144 14 1,387 
  3,742 1,821 1,706 831 139 8,239 
        
 Third-party revenues 3,742 1,821 1,706 831 139 8,239 
 Intersegment revenues 67 130 11 2 (210) – 
 Total revenues(1) 3,809 1,951 1,717 833 (71) 8,239 
 
  Three months ended June 30, 2023 
     Robotics &   
    Process Discrete Corporate  
 ($ in millions) Electrification Motion Automation Automation and Other Total 
 Geographical markets        
 Europe  1,166 651 562 482 74 2,935 
 The Americas  1,525 635 447 136 72 2,815 
 of which: United States 1,136 528 286 84 58 2,092 
 Asia, Middle East and Africa  991 568 538 299 17 2,413 
 of which: China 460 300 177 227 10 1,174 
  3,682 1,854 1,547 917 163 8,163 
 Product type        
 Products 3,456 1,586 916 785 143 6,886 
 Services and other 226 268 631 132 20 1,277 
  3,682 1,854 1,547 917 163 8,163 
        
 Third-party revenues 3,682 1,854 1,547 917 163 8,163 
 Intersegment revenues 53 127 6 5 (191) – 
 Total revenues(1) 3,735 1,981 1,553 922 (28) 8,163 
(1) Due to rounding, numbers presented may not add to the totals provided.

===== SIDA 43 =====

30 Q2 2024 FINANCIAL INFORMATION  
  Six months ended  Three months ended 
  June 30, June 30, 
 ($ in millions) 2024 2023 2024 2023 
 Operational EBITA:     
 Electrification 1,713 1,464 887 787 
 Motion 731 767 388 401 
 Process Automation 516 444 263 239 
 Robotics & Discrete Automation 206 281 93 141 
 Corporate and Other     
 ‒ E-mobility (141) (95) (87) (67) 
 ‒ Corporate costs, Intersegment elimination and other  (44) (159) 20 (76) 
 Total 2,981 2,702 1,564 1,425 
 Acquisition-related amortization (113) (109) (57) (55) 
 Restructuring, related and implementation costs (1) (76) (41) (50) (13) 
 Changes in obligations related to divested businesses  11 5 11 8 
 Gains and losses from sale of businesses  (57) 26 (55) 26 
 Acquisition- and divestment-related expenses and integration costs (37) (45) (18) (26) 
 Foreign exchange/commodity timing differences in income from operations:      
 Unrealized gains and losses on derivatives (foreign exchange,      
 commodities, embedded derivatives) (44) (10) 33 (32) 
 Realized gains and losses on derivatives where the underlying hedged      
 transaction has not yet been realized (1) (6) (2) (1) 
 Unrealized foreign exchange movements on receivables/payables (and      
 related assets/liabilities) 42 14 – 7 
 Certain other non-operational items:     
 Other income/expense relating to the Power Grids joint venture  11 20 3 7 
 Regulatory, compliance and legal costs (4) – (1) – 
 Business transformation costs(2) (101) (82) (51) (48) 
 Certain other fair value changes, including asset impairments (19) 6 (5) 7 
 Other non-operational items – 16 4 (7) 
 Income from operations 2,593 2,496 1,376 1,298 
 Interest and dividend income 103 78 46 38 
 Interest and other finance expense (50) (124) (13) (63) 
 Non-operational pension (cost) credit 26 15 10 8 
 Income from continuing operations before taxes  2,672 2,465 1,419 1,281 
(1) Includes impairment of certain assets.  
(2) Amount includes ABB Way process transformation costs of $99 million and $ 71 million for the six months ended June 30, 2024 and 2023 , respectively , and $53 million 
and $41 million for the three months ended June 30, 2024 and 2023 , respectively.  
  Total assets(1) 
 ($ in millions) June 30, 2024 December 31, 2023 
 Electrification 12,979 12,668 
 Motion 6,991 7,016 
 Process Automation 5,021 4,971 
 Robotics & Discrete Automation 4,921 5,047 
 Corporate and Other 9,369 11,238 
 Consolidated 39,281 40,940 
(1) Total assets are after intersegment eliminations and therefore reflect third -party assets only.

===== SIDA 44 =====

31 Q2 2024 FINANCIAL INFORMATION

===== SIDA 45 =====

32 Q2 2024 FINANCIAL INFORMATION  
 
 
 
 
— 
Supplemental Reconciliations and Definitions 
 
 
 
The following reconciliations and definitions include alternative performance measures which ABB uses to supplement its Consolidated Financial 
Information (unaudited) which is prepared in accordance with United States generally accepted accounting principles (U.S.  GAAP). Certain of 
these financial measures are  not defined under U.S. GAAP.  
 
While ABB’s management believes that the measures herein are useful in evaluating ABB’s operating results, this information s hould be 
considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance wit h U.S.  GAAP. 
Therefore these measures should not be viewed in isolation but considered together with the Consolidated Financial Informatio n (unaudited) 
prepared in accordance with U.S.  GAAP as of and for the six and three months ended June  30, 2024.  
 
Comparable growth rates  
Growth rates for certain key figures may be presented and discussed on a “comparable” basis. The comparable growth rate measu res growth on a 
constant currency basis. Since we are a global company, the comparability of our operating results reported in U.S. dollars i s affected by foreign 
currency exchange rate fluctuations. We calculate the impacts from foreign currency fluctuations by translating the current -year periods’ reported key 
figures into U.S. dollar amounts using the exchange rates in effect for the comparable periods in the previous year.  
Comparable growth rates are also adjusted for changes in our business portfolio. Adjustments to our business portfolio occur due to acquisitions, 
divestments, or by exiting specific business activities or customer markets. The adjustment for portfolio changes is calculat ed as follows: where the 
results of any business acquired or divested have not been consolidated and reported for the entire duration of both the curr ent and comparable 
periods, the reported key figures of such business are adjusted to exclude the relevant key figures of any corresponding quar ters which are not 
comparable when computing the comparable growth rate. Certain portfolio changes which do not qualify as divestments under U.S . GAAP have been 
treated in a similar manner to divestments. Changes in our portfolio where we have exited certain business activities or cust omer markets are adjusted 
as if the relevant business was divested in the period when the decision to cease business activities was taken. We do not ad just for portfolio changes 
where the relevant business has annualized revenues of less than $50 million.  
The following tables provide reconciliations of reported growth rates of certain key figures to their respective comparable g rowth rate. 
 
Comparable growth rate reconciliation by Business Area 
  Q2 2024 compared to Q2 2023 
  Order growth rate  Revenue growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Business Area reported) impact changes Comparable  reported) impact changes Comparable 
 Electrification  3% 2% 2% 7%  2% 2% 3% 7% 
 Motion -6% 2% 0% -4%  -2% 2% -1% -1% 
 Process Automation 8% 2% 0% 10%  11% 1% 0% 12% 
 Robotics & Discrete Automation -19% 2% 0% -17%  -10% 2% 0% -8% 
 ABB Group -3% 2% 1% 0%  1% 2% 1% 4% 
 
 
  H1 2024 compared to H1 2023 
  Order growth rate  Revenue growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Business Area reported) impact changes Comparable  reported) impact changes Comparable 
 Electrification  4% 2% 1% 7%  2% 1% 4% 7% 
 Motion -2% 1% 0% -1%  -4% 2% -1% -3% 
 Process Automation -7% 1% 0% -6%  11% 1% 0% 12% 
 Robotics & Discrete Automation -25% 1% 0% -24%  -9% 2% 0% -7% 
 ABB Group -4% 1% 1% -2%  1% 1% 1% 3%

===== SIDA 46 =====

33 Q2 2024 FINANCIAL INFORMATION  
Regional comparable growth rate reconciliation  
Regional comparable growth rate reconciliation  for ABB Group - Quarter 
  Q2 2024 compared to Q2 2023 
  Order growth rate  Revenue growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Region reported) impact changes Comparable  reported) impact changes Comparable 
 Europe -5% 1% 0% -4%  -4% 2% 0% -2% 
 The Americas -6% 1% 1% -4%  5% 1% 2% 8% 
 of which: United States -3% 0% 2% -1%  6% 0% 4% 10% 
 Asia, Middle East and Africa 4% 4% 1% 9%  1% 4% 0% 5% 
 of which: China -11% 3% 1% -7%  -3% 3% 0% 0% 
 ABB Group -3% 2% 1% 0%  1% 2% 1% 4% 
Regional comparable growth rate reconciliation  by Business Area - Quarter 
 
  Q2 2024 compared to Q2 2023 
  Order growth rate  Revenue growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Region reported) impact changes Comparable  reported) impact changes Comparable 
 Europe 5% 1% 1% 7%  -2% 1% 2% 1% 
 The Americas 0% 0% 4% 4%  8% 0% 6% 14% 
 of which: United States 4% 0% 4% 8%  12% 0% 8% 20% 
 Asia, Middle East and Africa 5% 6% 1% 12%  -2% 4% 2% 4% 
 of which: China -7% 3% 1% -3%  -1% 3% 2% 4% 
 Electrification 3% 2% 2% 7%  2% 2% 3% 7% 
  
  Q2 2024 compared to Q2 2023 
  Order growth rate  Revenue growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Region reported) impact changes Comparable  reported) impact changes Comparable 
 Europe -5% 1% 0% -4%  -11% 1% 0% -10% 
 The Americas -13% 0% -1% -14%  3% 1% -2% 2% 
 of which: United States -18% 0% -1% -19%  2% 0% -2% 0% 
 Asia, Middle East and Africa 1% 4% 0% 5%  4% 5% 0% 9% 
 of which: China -4% 3% 0% -1%  2% 3% 0% 5% 
 Motion -6% 2% 0% -4%  -2% 2% -1% -1% 
  
  Q2 2024 compared to Q2 2023 
  Order growth rate  Revenue growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Region reported) impact changes Comparable  reported) impact changes Comparable 
 Europe 22% 0% 0% 22%  12% 1% 0% 13% 
 The Americas -10% 1% 0% -9%  6% 1% 0% 7% 
 of which: United States -3% 0% 0% -3%  3% 0% 0% 3% 
 Asia, Middle East and Africa 10% 5% 0% 15%  13% 3% 0% 16% 
 of which: China -23% 2% 0% -21%  11% 4% 0% 15% 
 Process Automation 8% 2% 0% 10%  11% 1% 0% 12% 
  
  Q2 2024 compared to Q2 2023 
  Order growth rate  Revenue growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Region reported) impact changes Comparable  reported) impact changes Comparable 
 Europe -32% 1% 0% -31%  -10% 1% 0% -9% 
 The Americas 17% 1% 0% 18%  -3% 1% 0% -2% 
 of which: United States 40% 0% 0% 40%  -2% 0% 0% -2% 
 Asia, Middle East and Africa -18% 3% 0% -15%  -12% 3% 0% -9% 
 of which: China -20% 3% 0% -17%  -18% 3% 0% -15% 
 Robotics & Discrete Automation -19% 2% 0% -17%  -10% 2% 0% -8%

===== SIDA 47 =====

34 Q2 2024 FINANCIAL INFORMATION  
Regional comparable growth rate reconciliation  for ABB Group – Year to date 
  H1 2024 compared to H1 2023 
  Order growth rate  Revenue growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Region reported) impact changes Comparable  reported) impact changes Comparable 
 Europe -7% 0% 0% -7%  -4% 0% 0% -4% 
 The Americas -4% 0% 1% -3%  5% 0% 3% 8% 
 of which: United States -2% 1% 1% 0%  6% 0% 4% 10% 
 Asia, Middle East and Africa 0% 4% 0% 4%  1% 4% 0% 5% 
 of which: China -17% 3% 1% -13%  -8% 3% 1% -4% 
 ABB Group -4% 1% 1% -2%  1% 1% 1% 3% 
Regional comparable growth rate reconciliation  by Business Area – Year to date 
 
  H1 2024 compared to H1 2023 
  Order growth rate  Revenue growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Region reported) impact changes Comparable  reported) impact changes Comparable 
 Europe 4% 0% 0% 4%  -2% 0% 1% -1% 
 The Americas 4% 0% 3% 7%  8% 0% 6% 14% 
 of which: United States 8% 0% 4% 12%  13% 0% 8% 21% 
 Asia, Middle East and Africa 5% 5% 1% 11%  -2% 5% 1% 4% 
 of which: China -7% 4% 1% -2%  -5% 4% 1% 0% 
 Electrification 4% 2% 1% 7%  2% 1% 4% 7% 
  
  H1 2024 compared to H1 2023 
  Order growth rate  Revenue growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Region reported) impact changes Comparable  reported) impact changes Comparable 
 Europe -7% -1% 0% -8%  -16% 0% 0% -16% 
 The Americas -7% 0% -2% -9%  2% 0% -3% -1% 
 of which: United States -11% 0% -2% -13%  -1% 0% -2% -3% 
 Asia, Middle East and Africa 9% 4% 0% 13%  5% 5% 0% 10% 
 of which: China -8% 4% 0% -4%  -4% 4% 0% 0% 
 Motion -2% 1% 0% -1%  -4% 2% -1% -3% 
  
  H1 2024 compared to H1 2023 
  Order growth rate  Revenue growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Region reported) impact changes Comparable  reported) impact changes Comparable 
 Europe 3% 0% 0% 3%  9% 0% 0% 9% 
 The Americas -18% 0% 0% -18%  6% 0% 0% 6% 
 of which: United States -8% 0% 0% -8%  5% 0% 0% 5% 
 Asia, Middle East and Africa -11% 3% 0% -8%  17% 4% 0% 21% 
 of which: China -31% 3% 0% -28%  7% 4% 0% 11% 
 Process Automation -7% 1% 0% -6%  11% 1% 0% 12% 
  
  H1 2024 compared to H1 2023 
  Order growth rate  Revenue growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Region reported) impact changes Comparable  reported) impact changes Comparable 
 Europe -31% -1% 0% -32%  -3% 0% 0% -3% 
 The Americas -5% 0% 0% -5%  0% 0% 0% 0% 
 of which: United States -2% 0% 0% -2%  -4% 0% 0% -4% 
 Asia, Middle East and Africa -26% 4% 0% -22%  -21% 4% 0% -17% 
 of which: China -35% 3% 0% -32%  -28% 3% 0% -25% 
 Robotics & Discrete Automation -25% 1% 0% -24%  -9% 2% 0% -7%

===== SIDA 48 =====

35 Q2 2024 FINANCIAL INFORMATION  
Order backlog growth rate reconciliation 
  June 30, 2024 compared to June 30, 2023  
  US$ Foreign    
  (as exchange Portfolio   
 Business Area reported) impact changes Comparable  
 Electrification  3% 2% 6% 11%  
 Motion 7% 1% 0% 8%  
 Process Automation 9% 1% 0% 10%  
 Robotics & Discrete Automation -34% 1% 0% -33%  
 ABB Group 0% 2% 2% 4%  
 
 
Other growth rate reconciliations 
  Q2 2024 compared to Q2 2023 
  Service orders growth rate  Services revenues growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Business Area reported) impact changes Comparable  reported) impact changes Comparable 
 Electrification  14% 2% 0% 16%  15% 2% 0% 17% 
 Motion -5% 3% 0% -2%  8% 3% 0% 11% 
 Process Automation 10% 3% 0% 13%  8% 1% 0% 9% 
 Robotics & Discrete Automation 3% 2% 0% 5%  10% 2% 0% 12% 
 ABB Group 6% 3% 0% 9%  9% 2% 0% 11% 
 
 
  H1 2024 compared to H1 2023 
  Service orders growth rate  Services revenues growth rate 
  US$ Foreign    US$ Foreign   
  (as exchange Portfolio   (as exchange Portfolio  
 Business Area reported) impact changes Comparable  reported) impact changes Comparable 
 Electrification  15% 2% 0% 17%  12% 1% 0% 13% 
 Motion 0% 2% 0% 2%  13% 4% 0% 17% 
 Process Automation 7% 1% 0% 8%  11% 1% 0% 12% 
 Robotics & Discrete Automation 2% 1% 0% 3%  7% 1% 0% 8% 
 ABB Group 6% 1% 0% 7%  11% 1% 0% 12%

===== SIDA 49 =====

36 Q2 2024 FINANCIAL INFORMATION  
Operational EBITA as % of operational revenues (Operational EBITA margin) 
Definition 
Operational EBITA margin 
Operational EBITA margin is Operational EBITA as a percentage of operational revenues. 
Operational EBITA 
Operational earnings before interest, taxes and acquisition -related amortization (Operational EBITA) represents Income from operations excluding:  
• acquisition-related amortization (as defined below),  
• restructuring, related and implementation costs,  
• changes in the amount recorded for obligations related to divested businesses occurring after the divestment date (changes in  obligations 
related to divested businesses),  
• gains and losses from sale of businesses (including fair value adjustment on assets and liabilities held for sale , if any),  
• acquisition- and divestment-related expenses and integration costs,  
• certain other non-operational items, as well as  
• foreign exchange/commodity timing differences in income from operations consisting of: (a)  unrealized gains and losses on derivatives 
(foreign exchange, commodities, embedded derivatives), (b)  realized gains and losses on derivatives where the underlying hedged transaction 
has not yet been realized, and (c) unrealized foreign exchange movements on receivables/payables (and related assets/liabilities).  
Certain other non-operational items generally includes certain regulatory, compliance and legal costs, certain asset write downs/impairments and 
certain other fair value changes, as well as other items which are determined by management on a case -by-case basis. 
Operational EBITA is our measure of segment profit but is also used by management to evaluate the profitability of the Compan y as a whole. 
Acquisition-related amortization 
Amortization expense on intangibles arising upon acquisitions.  
Restructuring, related and implementation costs  
Restructuring, related and implementation costs consists of restructuring and other related expenses, as well as internal and  external costs relating to 
the implementation of group-wide restructuring programs. 
Operational revenues 
The Company presents operational revenues solely for the purpose of allowing the computation of Operational EBITA margin. Operational revenues are 
Total revenues adjusted for foreign exchange/commodity timing differences in total revenues of: (i)  unrealized gains and losses on derivatives, 
(ii) realized gains and losses on derivatives where the underlying hedged transaction has not yet been realized, and (iii)  unrealized foreign exchange 
movements on receivables (and related assets). Operational revenues are not intended to be an alternative measure to Total revenues, which represent 
our revenues measured in accordance with U.S. GAAP.  
Reconciliation 
The following tables provide reconciliations of consolidated Operational EBITA to Net Income and Operational EBITA margin by business. 
Reconciliation of consolidated Operational EBITA to Net Income  
  Six months ended June 30, Three months ended June 30, 
 ($ in millions) 2024 2023 2024 2023 
 Operational EBITA 2,981 2,702 1,564 1,425 
 Acquisition-related amortization (113) (109) (57) (55) 
 Restructuring, related and implementation costs (1) (76) (41) (50) (13) 
 Changes in obligations related to divested businesses  11 5 11 8 
 Gains and losses from sale of businesses  (57) 26 (55) 26 
 Acquisition- and divestment-related expenses and integration costs  (37) (45) (18) (26) 
 Certain other non-operational items (113) (40) (50) (41) 
 Foreign exchange/commodity timing differences in income from operations  (3) (2) 31 (26) 
 Income from operations 2,593 2,496 1,376 1,298 
 Interest and dividend income 103 78 46 38 
 Interest and other finance expense (50) (124) (13) (63) 
 Non-operational pension (cost) credit 26 15 10 8 
 Income from continuing operations before taxes  2,672 2,465 1,419 1,281 
 Income tax expense (654) (468) (315) (349) 
 Income from continuing operations, net of tax  2,018 1,997 1,104 932 
 Loss from discontinued operations, net of tax  (3) (9) (2) (4) 
 Net income 2,015 1,988 1,102 928 
(1) Includes impairment of certain assets.

===== SIDA 50 =====

37 Q2 2024 FINANCIAL INFORMATION  
Reconciliation of Operational EBITA margin by business  
  Three months ended June 30, 2024 
      Corporate and  
     Robotics & Other and  
    Process Discrete Intersegment  
 ($ in millions, unless otherwise indicated) Electrification Motion Automation Automation elimination Consolidated 
 Total revenues 3,809 1,951 1,717 833 (71) 8,239 
 Foreign exchange/commodity timing       
 differences in total revenues:       
 Unrealized gains and losses       
 on derivatives 4 (3) (21) – 3 (17) 
 Realized gains and losses on derivatives       
 where the underlying hedged       
 transaction has not yet been realized 1 2 (1) – 2 4 
 Unrealized foreign exchange movements        
 on receivables (and related assets) 5 1 3 3 (3) 9 
 Operational revenues 3,819 1,951 1,698 836 (69) 8,235 
        
 Income (loss) from operations 837 369 274 46 (150) 1,376 
 Acquisition-related amortization 23 8 2 20 4 57 
 Restructuring, related and       
 implementation costs(1) 8 14 – 20 8 50 
 Changes in obligations related to       
 divested businesses – – – – (11) (11) 
 Gains and losses from sale of businesses 24 – – – 31 55 
 Acquisition- and divestment-related expenses       
 and integration costs 19 2 1 5 (9) 18 
 Certain other non-operational items (1) – (5) (2) 58 50 
 Foreign exchange/commodity timing        
 differences in income from operations:       
 Unrealized gains and losses on derivatives       
 (foreign exchange, commodities,        
 embedded derivatives) (23) (6) (12) 2 6 (33) 
 Realized gains and losses on derivatives       
 where the underlying hedged       
 transaction has not yet been realized (2) 1 – – 3 2 
 Unrealized foreign exchange movements        
 on receivables/payables       
 (and related assets/liabilities) 2 – 3 2 (7) – 
 Operational EBITA 887 388 263 93 (67) 1,564 
        
 Operational EBITA margin (%) 23.2% 19.9% 15.5% 11.1% n.a. 19.0% 
(1) Includes impairment of certain assets.  
 
In the three months ended June 30, 2024, Certain other non-operational items in the table above includes the following:  
  Three months ended June 30, 2024 
     Robotics &   
    Process Discrete Corporate  
 ($ in millions, unless otherwise indicated) Electrification Motion Automation Automation and Other Consolidated 
 Certain other non-operational items:       
 Other income/expense relating to the        
 Power Grids joint venture – – – – (3) (3) 
 Regulatory, compliance and legal costs – – – – 1 1 
 Business transformation costs(1) (1) – – (1) 53 51 
 Certain other fair values changes,       
 including asset impairments (1) – (4) – 10 5 
 Other non-operational items 1 – (1) (1) (3) (4) 
 Total (1) – (5) (2) 58 50 
(1) Amounts include ABB Way  process transformation costs of $53  million for the three months ended June  30, 2024.

===== SIDA 51 =====

38 Q2 2024 FINANCIAL INFORMATION  
  Three months ended June 30, 2023 
      Corporate and  
     Robotics & Other and  
    Process Discrete Intersegment  
 ($ in millions, unless otherwise indicated) Electrification Motion Automation Automation elimination Consolidated 
 Total revenues 3,735 1,981 1,553 922 (28) 8,163 
 Foreign exchange/commodity timing        
 differences in total revenues:       
 Unrealized gains and losses       
 on derivatives 6 (9) 3 6 8 14 
 Realized gains and losses on derivatives       
 where the underlying hedged       
 transaction has not yet been realized (4) – 5 – (2) (1) 
 Unrealized foreign exchange movements        
 on receivables (and related assets) – (2) (8) (7) (6) (23) 
 Operational revenues 3,737 1,970 1,553 921 (28) 8,153 
        
 Income (loss) from operations 713 380 270 119 (184) 1,298 
 Acquisition-related amortization 22 9 2 19 3 55 
 Restructuring, related and       
 implementation costs(1) 4 1 2 – 6 13 
 Changes in obligations related to       
 divested businesses 1 – – – (9) (8) 
 Gains and losses from sale of businesses  – – (26) – – (26) 
 Acquisition- and divestment-related expenses       
 and integration costs 12 8 (2) 2 6 26 
 Certain other non-operational items 6 1 – 1 33 41 
 Foreign exchange/commodity timing        
 differences in income from operations:       
 Unrealized gains and losses on derivatives       
 (foreign exchange, commodities,        
 embedded derivatives) 31 5 (8) 4 – 32 
 Realized gains and losses on derivatives       
 where the underlying hedged       
 transaction has not yet been realized (2) – 5 – (2) 1 
 Unrealized foreign exchange movements        
 on receivables/payables       
 (and related assets/liabilities) – (3) (4) (4) 4 (7) 
 Operational EBITA 787 401 239 141 (143) 1,425 
        
 Operational EBITA margin (%) 21.1% 20.4% 15.4% 15.3% n.a. 17.5% 
(1) Includes impairment of certain assets.  
 
In the three months ended June 30, 2023, Certain other non-operational items in the table above includes the following:  
  Three months ended June 30, 2023 
     Robotics &   
    Process Discrete Corporate  
 ($ in millions, unless otherwise indicated) Electrification Motion Automation Automation and Other Consolidated 
 Certain other non-operational items:       
 Other income/expense relating to the        
 Power Grids joint venture – – – – (7) (7) 
 Business transformation costs(1) 5 – – 1 42 48 
 Certain other fair values changes,       
 including asset impairments – – – – (7) (7) 
 Other non-operational items 1 1 – – 5 7 
 Total 6 1 – 1 33 41 
(1) Amounts include ABB Way process transformation costs of $41  million for the three months ended June  30, 2023.

===== SIDA 52 =====

39 Q2 2024 FINANCIAL INFORMATION  
  Six months ended June 30, 2024 
      Corporate and  
     Robotics & Other and  
    Process Discrete Intersegment  
 ($ in millions, unless otherwise indicated) Electrification Motion Automation Automation elimination Consolidated 
 Total revenues 7,489 3,780 3,318 1,697 (175) 16,109 
 Foreign exchange/commodity timing       
 differences in total revenues:       
 Unrealized gains and losses       
 on derivatives 51 43 23 6 8 131 
 Realized gains and losses on derivatives       
 where the underlying hedged       
 transaction has not yet been realized (2) 2 1 – 2 3 
 Unrealized foreign exchange movements       
 on receivables (and related assets) (26) (16) (18) (8) (5) (73) 
 Operational revenues 7,512 3,809 3,324 1,695 (170) 16,170 
        
 Income (loss) from operations 1,606 670 508 137 (328) 2,593 
 Acquisition-related amortization 46 17 3 41 6 113 
 Restructuring, related and       
 implementation costs(1) 18 22 7 20 9 76 
 Changes in obligations related to       
 divested businesses – – – – (11) (11) 
 Gains and losses from sale of businesses 24 – – – 33 57 
 Acquisition- and divestment-related expenses        
 and integration costs 29 2 1 7 (2) 37 
 Certain other non-operational items 2 3 (5) (1) 114 113 
 Foreign exchange/commodity timing        
 differences in income from operations:       
 Unrealized gains and losses on derivatives       
 (foreign exchange, commodities,        
 embedded derivatives) (1) 27 10 6 2 44 
 Realized gains and losses on derivatives       
 where the underlying hedged       
 transaction has not yet been realized (3) 1 1 – 2 1 
 Unrealized foreign exchange movements        
 on receivables/payables       
 (and related assets/liabilities) (8) (11) (9) (4) (10) (42) 
 Operational EBITA 1,713 731 516 206 (185) 2,981 
        
 Operational EBITA margin (%) 22.8% 19.2% 15.5% 12.2% n.a. 18.4% 
(1) Includes impairment of certain assets.  
 
In the six months ended June 30, 2024, Certain other non-operational items in the table above includes the following:  
  Six months ended June 30, 2024 
     Robotics &   
    Process Discrete Corporate  
 ($ in millions, unless otherwise indicated) Electrification Motion Automation Automation and Other Consolidated 
 Certain other non-operational items:       
 Other income/expense relating to the       
 Power Grids joint venture – – – – (11) (11) 
 Regulatory, compliance and legal costs – – – – 4 4 
 Business transformation costs(1) 1 1 – – 99 101 
 Certain other fair values changes,       
 including asset impairments – 2 (4) – 21 19 
 Other non-operational items 1 – (1) (1) 1 – 
 Total 2 3 (5) (1) 114 113 
(1) Amounts include ABB Way process transformation costs of $99  million for the six months ended June  30, 2024.

===== SIDA 53 =====

40 Q2 2024 FINANCIAL INFORMATION  
  Six months ended June 30, 2023 
      Corporate and  
     Robotics & Other and  
    Process Discrete Intersegment  
 ($ in millions, unless otherwise indicated) Electrification Motion Automation Automation elimination Consolidated 
 Total revenues 7,325 3,921 2,989 1,859 (72) 16,022 
 Foreign exchange/commodity timing        
 differences in total revenues:       
 Unrealized gains and losses       
 on derivatives (8) (5) 16 8 4 15 
 Realized gains and losses on derivatives       
 where the underlying hedged       
 transaction has not yet been realized (5) – 6 – – 1 
 Unrealized foreign exchange movements        
 on receivables (and related assets) (7) (6) (12) (8) (9) (42) 
 Operational revenues 7,305 3,910 2,999 1,859 (77) 15,996 
        
 Income (loss) from operations 1,368 733 470 234 (309) 2,496 
 Acquisition-related amortization 44 17 3 39 6 109 
 Restructuring, related and       
 implementation costs(1) 12 2 4 – 23 41 
 Changes in obligations related to       
 divested businesses 1 – – – (6) (5) 
 Gains and losses from sale of businesses  – – (26) – – (26) 
 Acquisition- and divestment-related expenses       
 and integration costs 19 12 1 4 9 45 
 Certain other non-operational items 9 3 – 3 25 40 
 Foreign exchange/commodity timing        
 differences in income from operations:       
 Unrealized gains and losses on derivatives       
 (foreign exchange, commodities,        
 embedded derivatives) 16 5 (10) 6 (7) 10 
 Realized gains and losses on derivatives       
 where the underlying hedged       
 transaction has not yet been realized (2) – 7 – 1 6 
 Unrealized foreign exchange movements        
 on receivables/payables       
 (and related assets/liabilities) (3) (5) (5) (5) 4 (14) 
 Operational EBITA 1,464 767 444 281 (254) 2,702 
        
 Operational EBITA margin (%) 20.0% 19.6% 14.8% 15.1% n.a. 16.9% 
(1) Includes impairment of certain assets.  
 
In the six months ended June 30, 2023, certain other non-operational items in the table above includes the following:  
  Six months ended June 30, 2023 
     Robotics &   
    Process Discrete Corporate  
 ($ in millions, unless otherwise indicated) Electrification Motion Automation Automation and Other Consolidated 
 Certain other non-operational items:       
 Other income/expense related to the       
 Power Grids joint venture – – – – (20) (20) 
 Business transformation costs 9 – – 2 71 82 
 Certain other fair values changes,       
 including asset impairments 1 1 – 1 (9) (6) 
 Other non-operational items (1) 2 – – (17) (16) 
 Total 9 3 – 3 25 40 
(1) Amounts include ABB Way process transformation costs of $71  million for the six months ended June  30, 2023.

===== SIDA 54 =====

41 Q2 2024 FINANCIAL INFORMATION  
Net debt 
Definition  
Net debt 
Net debt is defined as Total debt less Cash and marketable securities.  
Total debt 
Total debt is the sum of Short-term debt and current maturities of long-term debt, and Long-term debt. 
Cash and marketable securities 
Cash and marketable securities is the sum of Cash and equivalents, Restricted cash and Marketable securities and short -term investments. 
Reconciliation 
 ($ in millions)  June 30, 2024 December 31, 2023 
 Short-term debt and current maturities of long-term debt  410 2,607 
 Long-term debt  6,338 5,221 
 Total debt  6,748 7,828 
 Cash and equivalents  2,961 3,891 
 Restricted cash  18 18 
 Marketable securities and short-term investments  1,289 1,928 
 Cash and marketable securities  4,268 5,837 
 Net debt  2,480 1,991 
 
 
Net debt/Equity ratio 
Definition  
Net debt/Equity ratio 
Net debt/Equity ratio is defined as Net debt divided by Equity.  
Equity 
Equity is defined as Total stockholders’ equity.  
Reconciliation 
 ($ in millions, unless otherwise indicated) June 30, 2024 December 31, 2023 
 Total stockholders' equity 14,066 14,057 
 Net debt (as defined above) 2,480 1,991 
 Net debt / Equity ratio 0.18 0.14 
 
 
Net debt/EBITDA ratio 
Definition  
Net debt/EBITDA ratio 
Net debt/EBITDA ratio is defined as Net debt divided by EBITDA. 
EBITDA 
EBITDA is defined as Income from operations for the trailing twelve months preceding the balance sheet date before depreciati on and amortization for 
the same trailing twelve-month period.  
Reconciliation 
 ($ in millions, unless otherwise indicated) June 30, 2024 June 30, 2023 
 Income from operations for the three months ended:    
 September 30, 2023 / 2022 1,259 708 
 December 31, 2023 / 2022 1,116 1,185 
 March 31, 2024 / 2023 1,217 1,198 
 June 30, 2024 / 2023 1,376 1,298 
 Depreciation and Amortization for the three months ended:    
 September 30, 2023 / 2022 194 198 
 December 31, 2023 / 2022 199 199 
 March 31, 2024 / 2023 201 191 
 June 30, 2024 / 2023 202 196 
 EBITDA  5,764 5,173 
 Net debt (as defined above) 2,480 4,165 
 Net debt / EBITDA 0.4 0.8

===== SIDA 55 =====

42 Q2 2024 FINANCIAL INFORMATION  
Net working capital as a percentage of revenues 
Definition  
Net working capital as a percentage of revenues 
Net working capital as a percentage of revenues is calculated as Net working capital divided by Adjusted revenues for the tra iling twelve months. 
Net working capital 
Net working capital is the sum of (i) receivables, net, (ii) contract assets, (iii) inventories, net, and (iv) prepaid expenses; less (v ) accounts payable, trade, 
(vi) contract liabilities and (vii) other current liabilities (excluding primarily: (a) income taxes payable, (b) current derivative liabilities, (c) pens ion and 
other employee benefits, (d) payables under the share buyback program and (e) liabilities related to certain other restructuring-related activities); and 
including the amounts related to these accounts which have been presented as either assets or liabilities held for sale. 
Adjusted revenues for the trailing twelve months  
Adjusted revenues for the trailing twelve months includes total revenues recorded by ABB in the twelve months preceding the r elevant balance sheet 
date adjusted to eliminate revenues of divested businesses and the estimated impact of annualizing revenues of certain acquis itions which were 
completed in the same trailing twelve-month period. 
Reconciliation 
 ($ in millions, unless otherwise indicated) June 30, 2024 June 30, 2023 
 Net working capital:   
 Receivables, net 7,492 7,481 
 Contract assets 1,118 1,010 
 Inventories, net 6,257 6,448 
 Prepaid expenses 294 290 
 Accounts payable, trade (5,118) (4,881) 
 Contract liabilities (2,973) (2,394) 
 Other current liabilities(1) (3,463) (3,506) 
 Net working capital in assets and liabilities held for sale  – 137 
 Net working capital 3,607 4,585 
 Total revenues for the three months ended:   
 September 30, 2023 / 2022 7,968 7,406 
 December 31, 2023 / 2022 8,245 7,824 
 March 31, 2024 / 2023 7,870 7,859 
 June 30, 2024 / 2023 8,239 8,163 
 Adjustment to annualize/eliminate revenues of certain acquisitions/divestments  – (162) 
 Adjusted revenues for the trailing twelve months  32,322 31,090 
 Net working capital as a percentage of revenues (%)  11.2% 14.7% 
(1) Amounts exclude $ 660 million  and $771 million at June  30, 2024 and 2023, respectively, related primarily to (a)  income taxes payable, (b)  current derivative liabilities, 
(c) pension and other employee benefits, (d) payables under the share buyback program  and (e) liabilities related to certain restructuring -related activitie s.

===== SIDA 56 =====

43 Q2 2024 FINANCIAL INFORMATION  
Free cash flow 
Definition 
Free cash flow 
Free cash flow is calculated as net cash provided by operating activities adjusted for: (i) purchases of property, plant and equipment and intangible 
assets, and (ii) proceeds from sales of property, plant and equipment . 
 
Reconciliation 
  Six months ended June 30, Three months ended June 30, 
 ($ in millions, unless otherwise indicated) 2024 2023 2024 2023 
 Net cash provided by operating activities 1,793 1,042 1,067 760 
 Adjusted for the effects of operations:     
 Purchases of property, plant and equipment and intangible assets  (366) (331) (185) (180) 
 Proceeds from sale of property, plant and equipment  42 57 36 26 
 Free cash flow 1,469 768 918 606 
 
 
Free cash flow conversion to net income 
Definition  
Free cash flow conversion to net income  
Free cash flow conversion to net income is calculated as free cash flow divided by Adjusted net income attributable to ABB.  
Adjusted net income attributable to ABB 
Adjusted net income attributable to ABB is calculated as net income attributable to ABB adjusted for  gains or losses arising on sale of certain businesses  
and certain other significant items within net income which are also excluded /  adjusted for when calculating operating cashflows.  
Free cash flow for the trailing twelve months  
Free cash flow for the trailing twelve months includes free cash flow recorded by ABB in the twelve months preceding the rele vant balance sheet date. 
Net income for the trailing twelve months 
Net income for the trailing twelve months includes net income recorded by ABB (as adjusted) in the twelve months preceding th e relevant balance sheet 
date. 
 
Reconciliation 
  Trailing twelve months to 
 ($ in millions, unless otherwise indicated) June 30, 2024 December 31, 2023 
 Net cash provided by operating activities 5,041 4,290 
 Adjusted for the effects of operations:   
 Purchases of property, plant and equipment and intangible assets (805) (770) 
 Proceeds from sale of property, plant and equipment  132 147 
 Free cash flow 4,368 3,667 
 Adjusted net income attributable to ABB (1) 3,745 3,686 
 Free cash flow conversion to net income  117% 99% 
(1) Adjusted net income attributable to ABB for the year ended December 31, 2023, is adjusted to exclude the gain on sale of the Power Conversion Division of $59 million.  
 
Reconciliation of the trailing twelve months to June 30, 2024  
 ($ in millions)  
Net cash provided by 
operating activities 
Purchases of 
property, plant and 
equipment and 
intangible assets 
Proceeds  
from sale of 
property, plant and 
equipment 
Adjusted net income 
attributable to ABB(1) 
 Q3 2023  1,351 (175) 10 829 
 Q4 2023  1,897 (264) 80 915 
 Q1 2024  726 (181) 6 905 
 Q2 2024  1,067 (185) 36 1,096 
 Total for the trailing twelve      
 months to June 30, 2024  5,041 (805) 132 3,745 
(1) Adjusted net income attributable to ABB for Q3 2023 is adjusted to exclude the gain on sale of the Power Conversion Division of $53  million. In Q4 2023, an 
additional $6  million was adjusted for the gain on sale of the Power Conversion Division.

===== SIDA 57 =====

44 Q2 2024 FINANCIAL INFORMATION  
Net finance income (expense) 
Definition  
Net finance income (expense) is calculated as Interest and dividend income less Interest and other finance expense.  
Reconciliation 
  Six months ended June 30, Three months ended June 30, 
 ($ in millions) 2024 2023 2024 2023 
 Interest and dividend income 103 78 46 38 
 Interest and other finance expense (50) (124) (13) (63) 
 Net finance income (expense) 53 (46) 33 (25) 
 
 
 
Book-to-bill ratio 
Definition  
Book-to-bill ratio is calculated as Orders received divided by Total revenues. 
Reconciliation 
  Six months ended June 30, 
  2024 2023 
 ($ in millions, except Book-to-bill presented as a ratio) Orders Revenues Book-to-bill Orders Revenues Book-to-bill 
 Electrification 8,465 7,489 1.13 8,101 7,325 1.11 
 Motion 4,317 3,780 1.14 4,399 3,921 1.12 
 Process Automation 3,499 3,318 1.05 3,782 2,989 1.27 
 Robotics & Discrete Automation 1,389 1,697 0.82 1,851 1,859 1.00 
 Corporate and Other (incl. intersegment eliminations) (261) (175) n.a. (16) (72) n.a. 
 ABB Group 17,409 16,109 1.08 18,117 16,022 1.13 
        
 
  Three months ended June 30, 
  2024 2023 
 ($ in millions, except Book-to-bill presented as a ratio) Orders Revenues Book-to-bill Orders Revenues Book-to-bill 
 Electrification 4,073 3,809 1.07 3,960 3,735 1.06 
 Motion 2,014 1,951 1.03 2,137 1,981 1.08 
 Process Automation 1,802 1,717 1.05 1,669 1,553 1.07 
 Robotics & Discrete Automation 688 833 0.83 850 922 0.92 
 Corporate and Other (incl. intersegment eliminations) (142) (71) n.a. 51 (28) n.a. 
 ABB Group 8,435 8,239 1.02 8,667 8,163 1.06

===== SIDA 58 =====

— 
ABB Ltd 
Corporate Communications  
P.O. Box 8131  
805 0 Zurich  
Switzerland  
Tel: +41 (0)43  317 71 11 
 
www.abb.com