Kvartalsrapport Q2 2025

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

— 
ZURICH, SWITZERLAND, JULY 17, 2025 
Q2 2025 results 
Record-high order intake and 
improved business performance 
 
 
• Orders $9,785 million, +16%; comparable1 +14%  
• Revenues $8,900 million, +8%; comparable1 +6%  
• Income from operations $1,573 million; margin 17.7%  
• Operational EBITA1 $1,708 million; margin1 19.2% 
• Basic EPS $0.63; +6%3 
• Cash flow from operating activities $1,059 million; -1% 
• Return on Capital Employed 23.1% 
— 
“ABB delivered an all-time-high order intake and improved operational performance. We are on a 
good path towards a new record year, amidst geopolitical uncertainties.” 
 
Morten Wierod, CEO 
KEY FIGURES         
   CHANGE   CHANGE 
($ millions, unless otherwise indicated) Q2 2025 Q2 2024 US$ Comparable1 H1 2025 H1 2024 US$ Comparable1 
Orders 9,785 8,435 16% 14% 18,998 17,409 9% 9% 
Revenues 8,900 8,239 8% 6% 16,835 16,109 5% 5% 
Gross Profit2 3,574 3,303 8%  6,885 6,367 8%  
as % of revenues2 40.2% 40.1% +0.1 pts  40.9% 39.5% +1.4 pts  
Income from operations 1,573 1,376 14%  3,140 2,593 21%  
Operational EBITA1 1,708 1,564 9% 6% 4  3,305 2,981 11% 11% 4  
as % of operational revenues1 19.2% 19.0% +0.2 pts  19.7% 18.4% +1.3 pts  
Income from continuing operations, net of tax  1,188 1,104 8%  2,307 2,018 14%  
Net income attributable to ABB 1,151 1,096 5%  2,253 2,001 13%  
Basic earnings per share ($)  0.63 0.59 6%3  1.23 1.09 13%3  
Cash flow from operating activities 1,059 1,067 -1%  1,743 1,793 -3%  
Free cash flow1 845 918 -8%  1,497 1,469 2%  
          
1 For a reconciliation of alternative performance measures, see “supplemental reconciliations and definitions” in the attached Q2 2025 Financial Information. 
2 Prior period amounts have been restated to reflect a change in accounting policy for IS expenses, see “Note 1 - The Company and Basis of Presentation” in the attached Q2 2025 Financial 
Information for details. 
3 EPS growth rates are computed using unrounded amounts. 
4 Constant currency (not adjusted for portfolio changes). 
  
 
Ad hoc Announcement pursuant to Art. 53 Listing Rules of SIX Swiss Exchange 
 
 
 
 
Q2 2025 
FIRST SIX MONTHS 
PRESS RELEASE

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

AB B  IN TE RIM RE P ORT  I Q2  20 25  2 
 
I am pleased with what we achieved in the second quarter 
of 2025, and one of the highlights was the record-high order 
intake of $9.8 billion, up 16% (14% comparable). It was 
particularly encouraging to see that the positive 
development was broad-based across all four business 
areas, a majority of customer segments, all three 
geographical regions and in both the short-cycle and 
project-related businesses. In my view, this signals a robust 
general trading environment. Order growth was especially 
strong in the Process Automation business area where a 
large order of approximately $600 million net was booked. 
Our book-to-bill was strong at 1.10 and notably it was 
positive also without the specific large order booking which 
supported comparable order growth by about 7%. 
Sequentially, the trading environment remained largely 
unchanged, with similar uncertainty linked to potential 
impacts from trade tariffs.  
Broadly in line with our expectations, revenues increased by 
8% (6% comparable) year-on-year, supported by three out 
of four business areas. Revenues in Robotics & Discrete 
Automation was hampered by weakness in the Machine 
Automation division where last year’s comparable was 
supported by a stronger order backlog. 
Operational EBITA was up by 9% and the margin 
improvement of 20 basis points to 19.2% was even a bit 
better than originally expected. Margins increased in both 
the Electrification and Process Automation business areas, 
and Motion remained virtually stable. This combined 
operational improvement offset the year-on-year headwind 
from margin pressure in Robotics & Discrete Automation 
linked to the Machine Automation division, as well as the 
year-on-year headwind of 30 basis points from last year’s 
positive non-repeat in Corporate & other. 
We continue to achieve high Return on capital employed 
and at 23.1% we added to our streak of delivering well 
above our long-term target. Free cash flow of $845 million 
was slightly softer than last year as increased earnings were 
more than offset by the impacts from the growth-related 
buildup of net working capital and the planned increase in 
capex spend. Our usual pattern suggests a stronger cash 
delivery in the second half of the year, and we remain 
confident in our ambition to improve from last year’s 
annual level.  
During the quarter we were recognized by TIME Magazine 
as one of the top 15 most sustainable companies in the 
world, across all industries. I view it as a testament to the 
success of our strategic approach of embedding 
sustainability into our operations, based on accountability 
and transparency.  
Another highlight in the quarter was the launch of three 
new robot families, aiming to further strengthen our 
Robotics business’ leading position in China. This enables 
us to support industries and customers to automate with 
new mid-market value propositions, and it is the result of 
our full local-for-local value chain. In April, we announced 
our plans to spin-off our Robotics division as a separately 
listed company. The carve-out for a distribution as a 
dividend-in-kind during the second quarter of 2026 is 
progressing as planned. 
Also, I am excited about the Electrification business area 
launching the next generation of their technology-leading  
air circuit breaker, the SACE Emax 3. This is the world’s first 
cybersecurity SL2-certified air circuit breaker. As evidence 
of our strategy of embedded software, the Emax 3 includes 
sensing, intelligence and advanced algorithms to improve 
energy security resilience of power systems in critical 
infrastructure, such as data centers, factories, hospitals 
and airports.  
 
 
Morten Wierod 
CEO 
 
In the third quarter of 2025, we anticipate comparable 
revenue growth to be at least in the mid-single digit 
range, and the Operational EBITA margin to remain 
broadly stable year-on-year; however acknowledging the 
uncertainty for the global business environment. 
In full-year 2025, we expect a positive book-to-bill, 
comparable revenue growth in the mid-single digit 
range and the Operational EBITA margin to improve 
year-on-year, however acknowledging the uncertainty 
for the global business environment.  
   
 
CEO summary 
 
 
Outlook

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

AB B  IN TE RIM RE P ORT  I Q2  20 25  3 
 
In addition to a generally robust market environment, 
with a positive development in short-cycle and project-
related businesses as well as service, the record-high 
order intake was supported by the booking of a very 
large order in the Process Automation business area. 
This is a multi-year order and contributed approximately 
$600 million net. For the Group, the positive order 
development was broad-based, supported by the 
majority of customer segments and all three regions. In 
total, orders increased by 16% (14% comparable) to 
$9,785 million.   
In the Americas orders were up by 27% (28% 
comparable), with the mid-single digit growth in base 
orders further fuelled by large bookings. Orders in 
Europe, were up by 12% (6% comparable). Asia, Middle 
East and Africa improved by 7% (6% comparable) 
including a positive development of 4% (2% 
comparable) in China.  
In transport & infrastructure, the trading environment 
was strong in marine and ports. The market remains 
strong in rail, although quarterly orders declined due to 
timing of order placements. Land transport 
infrastructure benefited from upgrades of electrical 
equipment.  
In the industrial areas a particularly strong development 
was seen in utilities. The general market sentiment in 
the data center segment was very strong and orders 
increased by double-digits year-on-year.  
Orders in the buildings segment improved as weakness 
in China was more than offset by favorable 
developments in other regions driven by the commercial 
sector, while the residential sector declined with 
regional variances. 
In the robotics-related segments, we saw delays in 
investment decisions by customers due to tariff-related 
uncertainty. Orders declined in most customer 
segments outside of consumer electronics. Orders in 
the machine builder segment increased sharply from a 
low level, however the absolute order level remained 
subdued. We anticipate absolute orders to increase 
sequentially in both the robotics and the machine 
builder segments.  
Orders improved in the mining segment despite a 
cautious underlying market. Oil & Gas remained broadly 
stable while declines were noted in pulp & paper and 
chemicals.  
Revenues improved in three out of four business areas 
and amounted to $8,900 million, up by 8% (6% 
comparable). This was supported by backlog execution 
as well as positive developments in the short-cycle and 
service businesses. Higher volumes was the main driver 
of the revenue growth, with some added support from 
slightly positive pricing. 
 
 
Growth 
  
 Q2 Q2 
Change year-on-year Orders Revenues 
Comparable 14% 6% 
FX 2% 2% 
Portfolio changes 0% 0% 
Total 16% 8% 
 
Orders by region 
($ in millions, 
unless otherwise 
indicated) 
  CHANGE 
Q2 2025 Q2 2024 US$ Comparable 
Europe 3,130 2,786 12% 6% 
The Americas 3,843 3,031 27% 28% 
Asia, Middle East 
and Africa 2,812 2,618 7% 6% 
ABB Group 9,785 8,435 16% 14% 
 
Revenues by region 
($ in millions, 
unless otherwise 
indicated) 
  CHANGE 
Q2 2025 Q2 2024 US$ Comparable 
Europe 3,016 2,831 7% 0% 
The Americas 3,272 2,960 11% 12% 
Asia, Middle East 
and Africa 2,612 2,448 7% 6% 
ABB Group 8,900 8,239 8% 6% 
 
 
     
 
Orders and revenues

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

AB B  IN TE RIM RE P ORT  I Q2  20 25  4 
 
Gross profit 
Gross profit increased by 8% (6% constant currency) year-on-
year to $3,574 million, reflecting a gross margin of 40.2%, up 
10 basis points year-on-year. Gross margin improved in three 
out of four business areas. 
Income from operations 
Income from operations amounted to $1,573 million and 
improved by 14% year-on-year. This improvement was driven 
mainly by a stronger business performance, lower 
Restructuring-related expenses and the positive year-on-year 
impact from Sales of businesses where this year’s positive 
contribution compares to a recorded loss in the previous year. 
In total, the Income from operations margin was 17.7% and 
improved by 100 basis points. 
Operational EBITA  
Operational EBITA increased by 9% year-on-year to $1,708 
million, resulting in a 20 basis points margin improvement to 
19.2%. This represents improved business performance 
supported by higher volumes, slightly positive pricing and 
improved efficiency. These combined positive impacts offset 
the higher expenses related to Sales, General & Administrative 
(SG&A) and headwind of 30 basis points year-on-year from 
lower positive non-repeats in Corporate & other. Operational 
EBITA in Corporate and Other amounted to -$96 million. 
Underlying corporate costs were $54 million while the E-
mobility business reported a loss of $42 million as the 
operational performance was hampered by low volumes. 
Finance net 
Net finance income contributed to results with a positive 
$25 million, just below last year’s income in the same period of 
$33 million.  
Income tax 
Income tax expense was $426 million, and the effective tax 
rate was 26.4%.  
Net income and earnings per share 
Net income attributable to ABB was $1,151 million, 
representing an increase of 5% year-on-year, mainly helped by 
the impact of improved business performance, partially offset 
by the higher tax rate year-on-year. Basic earnings per share 
increased by 6% to $0.63, up from $0.59 in the last year 
period.  
 
 
 
Earnings 
 
 
 
 
 
 
Corporate and Other 
Operational EBITA 
   
($ in millions) Q2 2025 Q2 2024 
Corporate and Other   
E-mobility (42) (87) 
Corporate costs, intersegment 
eliminations and other1 (54) 20 
Total (96) (67) 
1 Majority of which relates to underlying corporate

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

AB B  IN TE RIM RE P ORT  I Q2  20 25  5  
 
Trade net working capital1 
Trade net working capital amounted to $5,104 million, 
increasing year-on-year from $4,825 million. The increase 
was mainly driven by changes in exchange rates with the 
increase in receivables and a decrease in trade payables 
being largely offset by reduction of inventory and higher 
customer advances. The average trade net working 
capital as a percentage of revenues1 was 14.1% which 
declined from 15.6% one year ago. 
 
Capital expenditures 
Purchases of property, plant and equipment and 
intangible assets during the second quarter amounted to 
$224 million, higher than last year’s $185 million.  
Net debt 
Net debt1 amounted to $3,701 million at the end of the 
quarter and increased from $2,480 million year-on-year. 
The sequential increase from $1,460 million in the first 
quarter was mainly due to the dividend distribution and 
share buyback activity as well as foreign currency 
impacts. 
Cash flows 
Cash flow from operating activities during the second 
quarter was $1,059 million, which is broadly in line with last 
year’s $1,067 million as the impact of stronger earnings was 
offset mainly by growth-related buildup of Net working 
capital. Free cash flow amounted to $845 million and the 
decline from last year’s $918 million was mainly due to the 
planned higher capex spend.  
Share buyback program 
A share buyback program of up to $1.5 billion was launched 
on February 10, 2025. During the second quarter, ABB 
repurchased a total of 7,936,678 shares for a total amount 
of approximately $430 million. ABB’s total number of issued 
shares, including shares held in treasury, amounts to 
1,843,899,204. 
 
 
 
Balance sheet & Cash flow 
 
  
($ in millions,  
unless otherwise indicated) 
Jun. 30 
2025 
Jun. 30 
2024 
Dec. 31 
2024 
Short-term debt and current 
maturities of long-term debt 558  410  293  
Long-term debt 8,255  6,338  6,652  
Total debt 8,813  6,748  6,945  
Cash & equivalents 3,266  2,979  4,326  
Marketable securities and  
short-term investments 1,846  1,289  1,334  
Cash and marketable securities 5,112  4,268  5,660  
Net debt (cash)* 3,701  2,480  1,285  
     
Net debt (cash)* to EBITDA ratio 0.6  0.4  0.2  
Net debt (cash)* to Equity ratio 0.25  0.18  0.09  
* June 30, 2025, June 30, 2024 and Dec. 31, 2024, net debt(cash) excludes net pension 
(assets)/liabilities of $(340) million, $(241) million and $(227) million, respectively.

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

AB B  IN TE RIM RE P ORT  I Q2  20 25  6 
 
Orders and revenues 
In a robust business environment, new quarterly all-
time-highs were achieved for both order intake and 
revenues. The strong development was supported by 
improvements across the portfolio in services, short-
cycle and systems-related businesses. Book-to-bill was 
positive at 1.04. 
• Order intake increased by 11% (9% comparable) year-
on-year, with a positive development in most 
customer segments. Momentum was particularly 
strong for both the medium- and low voltage offering 
linked to the utilities segment, and for the service 
business as a whole. A positive development was 
noted also in commercial buildings, while residential 
declined with regional variances. Orders in the data 
center segment improved at a double-digit rate. 
Investments in the areas of electronics, 
semiconductors and pharmaceutical also supported 
order growth. 
• Orders improved in all three regions. The Americas 
increased by 9% (10% comparable) with a strong 
development of 13% (13% comparable) in the United 
States. Europe was up by 13% (6% comparable) 
despite a slight decline in the large German market. 
Asia, Middle East and Africa improved by 13% (11% 
comparable) with China at 4% (0% comparable) and 
improvement in several of the mid-sized markets.  
• Revenues of $4,331 million increased by 14% (11% 
comparable), improving in all divisions. Higher 
volumes was the main driver to comparable growth 
with solid execution of the order backlog mainly 
linked to the medium voltage and power protection 
offering as well as good customer activity in the 
short-cycle business. Price was slightly positive. 
 
Profit 
A historical first was achieved with Operational EBITA  
above the $1 billion mark, increasing by 16% to  
$1,033 million, resulting in a margin improvement of  
70 basis points to 23.9%.  
• The margin improvement was primarily supported by 
operational leverage on higher volumes and improved 
operational efficiency.  
— 
Electrification 
 
 
  
   CHANGE   CHANGE 
($ millions, unless otherwise indicated) Q2 2025 Q2 2024 US$ Comparable H1 2025 H1 2024 US$ Comparable 
Orders 4,518 4,073 11% 9% 8,912 8,465 5% 5% 
Order backlog 8,685 7,548 15% 12% 8,685 7,548 15% 12% 
Revenues 4,331 3,809 14% 11% 8,156 7,489 9% 9% 
Gross Profit 1,807 1,603 13%  3,445 3,101 11%  
as % of revenues 41.7% 42.1% -0.4 pts  42.2% 41.4% +0.8 pts  
Operational EBITA 1,033 887 16%  1,919 1,713 12%  
as % of operational revenues 23.9% 23.2% +0.7 pts  23.6% 22.8% +0.8 pts  
Cash flow from operating activities 956 850 12%  1,477 1,397 6%  
No. of employees (FTE equiv.) 52,800 51,100 3%      
 
Growth 
  
 Q2 Q2 
Change year-on-year Orders Revenues 
Comparable 9% 11% 
FX 2% 2% 
Portfolio changes 0% 1% 
Total 11% 14%

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

AB B  IN TE RIM RE P ORT  I Q2  20 25  7 
 
Orders and revenues 
On orders of $2,112 million this was yet another quarter 
above the $2 billion mark. Growth turned positive year-on-
year at 5% (3% comparable) after four quarters in decline, 
with an increase in the short-cycle businesses more than 
offsetting the impact from lower large order bookings.  
• Orders increased in the segments of HVAC for 
commercial buildings, water & wastewater, power 
generation and food & beverage. A stable trend was 
noted for oil & gas, while weakness was seen in the 
process related segments of chemicals, pulp & paper and 
metals. Rail declined, but mainly due to timing of orders.  
• Orders improved in the Americas by 14% (14% 
comparable), with the strong improvement of 27% (26% 
comparable) in the United States positively impacted by 
timing of orders booked. Europe was up by 1% (-5% 
comparable). Timing of large order bookings in the 
prior year limited regional growth in Asia, Middle East 
and Africa to 0% (0% comparable), although orders in 
China increased by 9% (9% comparable). 
• Revenues of $2,065 million improved by 6% (4% 
comparable). Growth was supported by a positive 
development in the short-cycle businesses as well as 
order backlog execution. Higher volumes was the main 
driver to comparable growth, with slightly positive 
pricing year-on-year.  
The creation of the new High Power division, which 
combines the former Systems Drives and Large Motor & 
Generator divisions, is effective July 1, 2025. The 
consolidation targets a more efficient and customer 
focused organization deploying go-to-market synergies in 
the medium voltage space. 
Profit  
Operational EBITA increased by 5%, with a slight 
softening of 10 basis points of the margin to 19.8%.  
• Earnings were positively impacted by operational 
leverage on higher volumes, with slightly positive 
pricing. This was however offset by mainly higher SG&A 
expenses. 
 
  
— 
Motion 
   CHANGE   CHANGE 
($ millions, unless otherwise indicated) Q2 2025 Q2 2024 US$ Comparable H1 2025 H1 2024 US$ Comparable 
Orders 2,112 2,014 5% 3% 4,268 4,317 -1% -1% 
Order backlog 6,102 5,669 8% 1% 6,102 5,669 8% 1% 
Revenues 2,065 1,951 6% 4% 3,905 3,780 3% 3% 
Gross Profit 788 722 9%  1,521 1,368 11%  
as % of revenues 38.2% 37.0% +1.2 pts  39.0% 36.2% +2.8 pts  
Operational EBITA 407 388 5%  767 731 5%  
as % of operational revenues 19.8% 19.9% -0.1 pts  19.7% 19.2% +0.5 pts  
Cash flow from operating activities 354 509 -30%  664 861 -23%  
No. of employees (FTE equiv.) 22,600 22,700 0%      
 
 
Growth 
  
 Q2 Q2 
Change year-on-year Orders Revenues 
Comparable 3% 4% 
FX 2% 2% 
Portfolio changes 0% 0% 
Total 5% 6%

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

AB B  IN TE RIM RE P ORT  I Q2  20 25  8 
 
Orders and revenues 
Quarterly order intake of $2,620 million is the highest on 
record and firmly extends the streak of positive book-
to-bill to 19 consecutive quarters. Order intake 
increased by 45% (40% comparable) and book-to-bill 
was 1.45.  
• The strong order growth was supported by the 
booking of a large order which contributed 
approximately $600 million net, with deliveries 
stretching over a multi-year period. Notably, in a firm 
market environment, orders increased also when 
excluding the specific large order booking, which 
supported comparable order intake by about 32%. 
• The market profile was similar to recent quarters, with 
the strongest customer activity linked to the 
segments of marine and port automation & 
electrification, with added support from a positive 
development in the short-cycle product business – 
albeit from a low comparable. Orders increased in the 
mining segment, where the general business 
environment otherwise remained relatively cautious. 
Orders in the oil & gas segment increased, while the 
more muted process industry related areas were pulp 
& paper and chemicals. 
• Revenues were mainly supported by execution of the 
project order backlog. The volume increase was the 
key driver to the year-on-year growth of 5% (2% 
comparable), for total revenues of $1,804 million. 
 
Profit 
Operational EBITA of $290 million was up by 10%,  
representing a 40 basis points improvement in 
Operational EBITA margin to 15.9%. All divisions 
delivered at least at the mid-teens margin level.  
• Operational EBITA margin improved or remained 
stable in the project- and systems-related businesses 
which executed the order backlog with high gross 
margin. This was partially offset by the product 
business where profitability softened year-on-year 
due to revenues being hampered by customers’ 
inventory adjustments. 
 
 
  
— 
Process Automation 
   CHANGE   CHANGE 
($ millions, unless otherwise indicated) Q2 2025 Q2 2024 US$ Comparable H1 2025 H1 2024 US$ Comparable 
Orders 2,620 1,802 45% 40% 4,644 3,499 33% 32% 
Order backlog 9,269 7,409 25% 19% 9,269 7,409 25% 19% 
Revenues 1,804 1,717 5% 2% 3,437 3,318 4% 4% 
Gross Profit 697 642 9%  1,344 1,236 9%  
as % of revenues 38.6% 37.4% +1.2 pts  39.1% 37.3% +1.8 pts  
Operational EBITA 290 263 10%  545 516 6%  
as % of operational revenues 15.9% 15.5% +0.4 pts  15.9% 15.5% +0.4 pts  
Cash flow from operating activities 252 257 -2%  516 486 6%  
No. of employees (FTE equiv.) 22,700 21,700 5%      
 
 
Growth 
  
 Q2 Q2 
Change year-on-year Orders Revenues 
Comparable 40% 2% 
FX 5% 3% 
Portfolio changes 0% 0% 
Total 45% 5%

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

AB B  IN TE RIM RE P ORT  I Q2  20 25  9 
 
Orders and revenues 
Business area orders improved by 6% (4% comparable) 
from last year’s low level, to $729 million. The slight 
sequential decline in the second quarter is a recurring 
order pattern.  
• Weaker orders in the Robotics division were due to 
customers applying a wait-and-see stance on the back 
of continued uncertainties linked to potential tariffs.  
This hampered order intake in most customer 
segments, except for a positive development in 
consumer electronics. We anticipate orders to 
increase sequentially.  
• Orders in the Machine Automation division increased 
sharply from last year’s low level. However, the order 
level remains subdued as customers cautiously 
balance new ordering with inventory levels. We 
anticipate absolute orders to increase sequentially.  
• As expected, there was a sequential increase in 
revenues for the business area, but on a year-on-year 
basis revenues declined by 2% (5% comparable) to 
$813 million. The two divisions show diverging 
patterns, with increased volumes in Robotics, while 
volumes declined sharply in Machine Automation due 
to less support from the order backlog.  
 
Profit 
Impact from operational leverage on significantly lower 
volumes in the Machine Automation division put 
pressure on Operational EBITA which declined by 20% to 
$74 million. The Operational EBITA margin dropped by 
200 basis points year-on-year to 9.1%.  
• In Robotics, both earnings and margin improved 
slightly year-on-year as the division continued to 
deliver a double-digit profitability level. 
• Machine Automation delivered a slight loss as savings 
from cost measures did not offset the adverse 
impacts from low utilization rates in production as 
revenues declined.   
 
— 
Robotics & Discrete Automation 
   CHANGE   CHANGE 
($ millions, unless otherwise indicated) Q2 2025 Q2 2024 US$ Comparable H1 2025 H1 2024 US$ Comparable 
Orders 729 688 6% 4% 1,528 1,389 10% 11% 
Order backlog 1,489 1,758 -15% -19% 1,489 1,758 -15% -19% 
Revenues 813 833 -2% -5% 1,557 1,697 -8% -8% 
Gross Profit 277 277 0%  533 597 -11%  
as % of revenues 34.1% 33.3% +0.8 pts  34.2% 35.2% -1 pts  
Operational EBITA 74 93 -20%  148 206 -28%  
as % of operational revenues 9.1% 11.1% -2 pts  9.5% 12.2% -2.7 pts  
Cash flow from operating activities 123 98 26%  188 193 -3%  
No. of employees (FTE equiv.) 10,300 11,300 -9%      
 
 
Growth 
  
 Q2 Q2 
Change year-on-year Orders Revenues 
Comparable 4% -5% 
FX 2% 3% 
Portfolio changes 0% 0% 
Total 6% -2%

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

AB B  IN TE RIM RE P ORT  I Q2  20 25  10  
 
Events from the Quarter 
• ABB’s new Battery Energy Storage Systems-as-a-
Service launched in Q2 offers a zero-Capex model that 
removes financial and operational barriers to clean 
energy adoption. By shifting costs to a predictable 
service fee, businesses can access advanced energy 
storage without upfront investment. The solution 
enhances energy efficiency, resilience, and long-term 
sustainability. ABB manages deployment, 
maintenance, and optimization, allowing industries to 
focus on core operations and accelerate their 
transition to net zero. 
 
• Five startups won ABB’s 2025 Startup Challenge by 
showcasing how their innovative approach could help 
make energy use smarter in industry, buildings, power 
grids and utilities. Solutions include real-time 
emissions tracking, battery optimization, and tools 
for decarbonizing real estate. ABB experts will work 
with each winner to develop a Minimum Viable 
Product (MVP) with the opportunity to launch a global 
solution for ABB’s customers and partners. 
 
• ABB has broken its own world record for energy 
efficiency in large synchronous electric motors, 
reaching 99.13% with a new motor for a steel plant in 
India designed in line with its Top Industrial Efficiency 
(TIE) initiative. The steel plant will have estimated 
electricity cost savings of around $6 million through 
improved energy efficiency over the motor’s 25-year 
lifespan and the investment in energy efficiency will 
have a projected payback period of just over three 
months. 
 
• ABB’s planned acquisition of France’s BrightLoop will 
strengthen its position in sustainable transportation by 
expanding electrification capabilities for off-highway 
vehicles and marine vessels. BrightLoop’s compact, 
high-efficiency power converters reduce fuel 
consumption, emissions, and maintenance needs in 
demanding environments. Originally developed for 
motorsports, the technology is now applied in other 
segments, supporting the shift to cleaner energy. 
 
• Eni selected ABB as the main automation contractor 
for HyNet, one of the UK’s first industrial carbon 
capture and storage (CCS) clusters. ABB will provide 
integrated automation, telecoms, and cybersecurity 
systems to manage the transport and storage of CO₂e 
from heavy industry to depleted gas fields. The 
project aims to remove up to 10 million tons of CO₂e 
emissions a year by 2030, the equivalent of taking 
four million cars off the road. 
 
• In June, ABB celebrated Pride month, with over 7,700 
employees participating in local events, team huddles, 
and global conversations, reinforcing the company’s 
commitment to inclusion across offices and shop 
floors. In addition, awareness webinars on LGBTQ+ 
inclusion and human rights were held in Q2, 
strengthening awareness and leadership 
accountability on inclusion-related risks. Separately, 
the company was ranked among the top 5 Swiss 
companies for LGBTQ+ transparency in the “Open for 
Business” Swiss Market Leaders Index. 
 
• With the 2025 ABB RoboCup, ABB drives to close the 
education gap in robotics and automation. Students 
competed in the live finale in Bergamo, Italy, taking on 
real-world robotics challenges using ABB’s advanced 
technology and tools. Since its launch in 2018, the 
competition has become a powerful platform for 
bridging the gap between education and the 
workplace involving more than 2,800 students in total. 
— 
Sustainability 
 
 
  
 Q2 2025 Q2 2024 CHANGE 12M ROLLING 
CO₂e own operations emissions,  
Ktons scope 1 and 21 44 43 1% 129 
Total recordable incident frequency rate (TRIFR),  
frequency / 1,000,000 working hours 2 1.49 1.61 -7% 1.42 
Proportion of women in senior management roles 
in %3 23.0 21.6 +1.4 pts 21.9 
      
1 CO₂ equivalent emissions from site, energy use, SF₆ and fleet, previous quarter 
2 To align with CSRD reporting requirements, we have replaced our primary safety KPI, Lost Time Injury Frequency Rate (LTIFR), with Total Recordable Incident Frequency Rate (TRIFR). This new 
measure includes all incidents and injuries except first aid cases and near misses, promoting improved system learning, enhanced transparency, and greater openness in reporting. Current quarter 
Includes all incidents reported by July 8, 2025 
3 The above disclosure relates to countries where policies legally permit and to the extent that it does not conflict with any applicable local laws, where ABB operates.

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

AB B  IN TE RIM RE P ORT  I Q2  20 25  11  
 
During Q2 2025 
 
• On April 17, ABB announced that it has launched a 
process to spin-off of its Robotics division. The 
intention is for the business to start trading as a 
separately listed company during the second quarter 
of 2026. 
• On May 30, ABB announced that ABB’s Board of 
Directors approved to cancel 16,715,684 shares of 
ABB Ltd repurchased under ABB’s 2024 share buyback 
program. The cancellation of shares was published in 
the commercial register in May. 
The new total number of issued shares and votes of 
ABB Ltd is 1,843,899,204, compared with 
1,860,614,888 before cancellation. 
At the end of May, the company’s holding of own 
shares amounted to 15,199,042, which corresponds to 
0.82 percent of the total number of issued shares in 
the company. This includes 9,304,359 shares 
purchased for capital reduction.  
After Q2 2025 
• On July 2, ABB Robotics division announced it has 
launched three new robot families to strengthen its 
robotics leadership position in China. The extended 
customer offering helps new industries and 
customers automate with new mid-market value 
propositions as we build on our full local value chain 
in China of manufacturing, research and development 
to deliver groundbreaking solutions for our 
customers in businesses of all sizes. 
 
 
 
 
 
 
 
 
In the first six months of 2025, the overall order intake 
increased significantly, supported by a large order of 
approximately $600 million net in the Process 
Automation business area. A positive development was 
noted in service and short-cycle as well as project-
related businesses. Orders increased in three business 
areas and remained virtually stable in Motion. Overall, 
orders in the first six months amounted to $18,998 
million and were up 9% (9% comparable), year-on-year.   
Revenues were supported by execution of the large 
order backlog with some additional support from the 
short-cycle businesses and amounted to $16,835 million, 
up by 5% (5% comparable), overall implying a book-to-
bill of 1.13. 
Income from operations in the first half of 2025 
amounted to $3,140 million, significantly up 21% year-
on-year. This increase was mainly driven by an improved 
operational business performance with additional 
support from lower expenses related to restructurings 
and gains from sale of businesses after a loss was 
recorded in the prior year.  
Operational EBITA increased by 11% year-on-year to 
$3,305 million, and the Operational EBITA margin 
improved by 130 basis points to 19.7%. The increase was 
driven by improvements in the Electrification, Motion 
and Process Automation business areas, as well as 
lower losses in the E-mobility business. Moreover, an 
operational net gain of approximately $140 million 
relating to a real estate sale in Corporate and Other had 
a positive impact. This was partially offset by an 
earnings decline in the Robotics & Discrete Automation 
business area which continued to be hampered by 
adverse impacts from still low utilization rates in 
production in the Machine Automation division. The 
main drivers of the margin expansion were operating 
leverage on higher volumes, slightly positive pricing and 
improved operational efficiency. Expenses in SG&A 
increased compared to the prior year period. Corporate 
and Other Operational EBITA amounted to -$74 million. 
This includes a loss of $89 million that can be attributed 
to the E-mobility business, which was negatively 
affected by low volumes and the ongoing reorganization 
to ensure a more focused portfolio. 
Net finance contributed to results with $32 million, 
below last year’s income of $53 million. The lower 
income year-on-year is due to higher interest charges on 
income tax contingencies, offset partially by lower 
interest charges on debt. Income tax expense was $895 
million reflecting a tax rate of 28.0%. The increase in tax 
rate can be attributed to a reduction in certain tax risks 
which positively impacted the prior year period by 270 
basis points.   
Net income attributable to ABB was $2,253 million, up 
from $2,001 million year-on-year. Basic earnings per 
share was $1.23, representing an increase of 13% 
compared with the prior year period. 
Significant events 
First six months of 2025

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

AB B  IN TE RIM RE P ORT  I Q2  20 25  12  
 
 
Acquisitions Company/unit Closing date Revenues, $ in 
millions1 No. of employees 
2025     
Electrification Produits BEL Inc. 2-Jun ∼11 65 
Electrification Siemens Wiring Accessories 3-Mar ∼150 360 
Electrification Sensorfact 3-Feb ∼15 260 
Electrification Coulomb Inc.  13-Jan <5 30 
2024     
Electrification Solutions Industry & Building (SIB) 2-Dec ∼27 100 
Process Automation Dr. Födisch Umweltmesstechnik AG 1-Oct ∼53 250 
Electrification SEAM Group 31-Jul ∼90 250 
 
 
Acquisitions and divestments, last twelve months 
ABB Group Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 
EBITDA, $ in million 1,418 1,578 1,503 1,374 5,873 1,763 1,786 
Return on Capital Employed, % 20.5 21.3 22.0 22.4 22.4 23.0 23.1 
Net debt/Equity 0.16 0.18 0.15 0.09 0.09 0.10 0.25 
Net debt/ EBITDA 12M rolling 0.4 0.4 0.4 0.2 0.2 0.2 0.6 
Net working capital 3,497 3,516 3,512 2,739 2,739 3,371 3,767 
Trade net working capital 4,818 4,825 4,931 4,428 4,428 4,664 5,104 
Average trade net working capital as a % of revenues  16.1% 15.6% 15.1% 14.6% 14.6% 14.4% 14.1% 
Earnings per share, basic, $ 0.49 0.59 0.51 0.54 2.13 0.60 0.63 
Earnings per share, diluted, $ 0.49 0.59 0.51 0.53 2.13 0.60 0.63 
Dividend per share, CHF n.a. n.a. n.a. n.a. 0.90 n.a. n.a. 
Share price at the end of period, CHF 41.89 49.92 48.99 49.07 49.07 45.22 47.31 
Number of employees (FTE equivalents) 108,700 109,390 109,970 109,930 109,930 110,970 110,860 
No. of shares outstanding at end of period (in millions)  1,851 1,849 1,843 1,838 1,838 1,833 1,826 
  
 
 
Additional figures 
Divestments Company/unit Closing date Revenues, $ in 
millions1 No. of employees 
2024     
E-mobility InCharge Energy Inc (share transfer) 30-Nov ∼100 n.a. 
Electrification Part of ELIP cable tray business to JV 1-Nov ∼65 110 
Electrification Service repair shops in US/CA 30-Aug ∼35 115 
E-mobility Numocity 30-Jun <5 56 
 
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 2025 guidance 
($ in millions, unless otherwise 
stated) FY 20251 Q3 2025 
Corporate and Other  
Operational EBITA2 
~(175) ~(90) 
from ~(200)  
Non-operating items   
  
Acquisition-related amortization ~(180) ~(50) 
  
Restructuring and related3 ~(250) ~(100) 
  
ABB Way transformation ~(150) ~(40) 
  
 
($ in millions, unless otherwise stated) FY 2025 
Finance net ~50 
from ~40 
Effective tax rate ~25% 4  
 
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 25  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,” “Sustainability” and “Additional 2025 
guidance”. These statements are based on current 
expectations, estimates and projections about the 
factors that may affect our future performance, 
including global economic conditions and 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,” “intends,” “plans,” “targets,” “guidance,” 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, 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 2025 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 17, 2025 
 
 
ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient 
future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while 
becoming more efficient, productive and sustainable so they outperform. At ABB, we call this ‘Engineered to Outrun’. The 
company has over 140 years of history and around 110,000 employees worldwide. ABB’s shares are listed on the SIX Swiss 
Exchange (ABBN) and Nasdaq Stockholm (ABB). www.abb.com  
 
 
Financial calendar 
2025  
October 16 Q3 2025 results 
November 18 Capital Markets Day in New Berlin, United States

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

1 Q2 2025 FINANCIAL INFORMATION  
July 17, 2025 
Q2 2025  
Financial Information

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

2 Q2 2025 FINANCIAL INFORMATION  
 
 
FINANCIAL  
INFORMATION 
Contents 
 
 
 
 
 
 
 
 
 
 
 
03 ─ 07 Key Figures 
 
 
08 ─ 32 Consolidated Financial Information (unaudited) 
 
 
33 ─ 48 Supplemental Reconciliations and Definitions

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

3 Q2 2025 FINANCIAL INFORMATION  
 
— 
Key Figures 
     CHANGE 
 ($ in millions, unless otherwise indicated) Q2 2025 Q2 2024 US$ Comparable(1) 
 Orders 9,785 8,435 16% 14% 
 Order backlog (end June) 24,975 22,047 13% 9% 
 Revenues 8,900 8,239 8% 6% 
 Gross Profit(2) 3,574 3,303 8%  
  as % of revenues(2) 40.2% 40.1% +0.1 pts  
 Income from operations 1,573 1,376 14%  
 Operational EBITA(1) 1,708 1,564 9% 6%(3) 
  as % of operational revenues(1) 19.2% 19.0% +0.2 pts  
 Income from continuing operations, net of tax  1,188 1,104 8%  
 Net income attributable to ABB 1,151 1,096 5%  
 Basic earnings per share ($) 0.63 0.59 6%(4)  
 Cash flow from operating activities 1,059 1,067 -1%  
 Free cash flow(1) 845 918 -8%  
 
     CHANGE 
 ($ in millions, unless otherwise indicated) H1 2025 H1 2024 US$ Comparable(1) 
 Orders 18,998 17,409 9% 9% 
 Revenues 16,835 16,109 5% 5% 
 Gross Profit(2) 6,885 6,367 8%  
  as % of revenues(2) 40.9% 39.5% +1.4 pts  
 Income from operations 3,140 2,593 21%  
 Operational EBITA(1) 3,305 2,981 11% 11%(3) 
  as % of operational revenues(1) 19.7% 18.4% +1.3 pts  
 Income from continuing operations, net of tax 2,307 2,018 14%  
 Net income attributable to ABB 2,253 2,001 13%  
 Basic earnings per share ($) 1.23 1.09 13%(4)  
 Cash flow from operating activities 1,743 1,793 -3%  
 Free cash flow(1) 1,497 1,469 2%  
(1) For a reconciliation of alternative performance  measures see “ Supplemental Reconciliations and Definitions ” on page 33.  
(2) Prior period amounts have been restated to reflect a change in accounting policy for IS expenses , see “Note  1 - The Company and basis of presentation”  for details.  
(3) Constant currency (not adjusted for portfolio changes).  
(4) EPS growth rates are computed using unrounded amounts.

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

4 Q2 2025 FINANCIAL INFORMATION  
    CHANGE 
 ($ in millions, unless otherwise indicated) Q2 2025 Q2 2024 US$ Local Comparable 
 Orders  ABB Group 9,785 8,435 16% 14% 14% 
  Electrification 4,518 4,073 11% 9% 9% 
  Motion 2,112 2,014 5% 3% 3% 
  Process Automation 2,620 1,802 45% 40% 40% 
  Robotics & Discrete Automation 729 688 6% 4% 4% 
  Corporate and Other  110 112 
   
  Intersegment eliminations (304) (254) 
 Order backlog (end June) ABB Group 24,975 22,047 13% 8% 9% 
  Electrification 8,685 7,548 15% 12% 12% 
  Motion 6,102 5,669 8% 1% 1% 
  Process Automation 9,269 7,409 25% 19% 19% 
  Robotics & Discrete Automation 1,489 1,758 -15% -19% -19% 
  Corporate and Other    
   
  (incl. intersegment eliminations) (570) (337) 
 Revenues  ABB Group 8,900 8,239 8% 6% 6% 
  Electrification 4,331 3,809 14% 12% 11% 
  Motion 2,065 1,951 6% 4% 4% 
  Process Automation 1,804 1,717 5% 2% 2% 
  Robotics & Discrete Automation 813 833 -2% -5% -5% 
  Corporate and Other  107 145 
   
  Intersegment eliminations (220) (216) 
 Income from operations ABB Group 1,573 1,376    
  Electrification 990 837    
  Motion 393 369    
  Process Automation 273 274    
  Robotics & Discrete Automation 67 46    
  Corporate and Other   
   
  (incl. intersegment eliminations) (150) (150) 
 Income from operations % ABB Group 17.7% 16.7%    
  Electrification 22.9% 22.0%    
  Motion 19.0% 18.9%    
  Process Automation 15.1% 16.0%    
  Robotics & Discrete Automation 8.2% 5.5%    
 Operational EBITA ABB Group 1,708 1,564 9% 6%  
  Electrification 1,033 887 16% 14%  
  Motion 407 388 5% 2%  
  Process Automation 290 263 10% 8%  
  Robotics & Discrete Automation 74 93 -20% -23%  
  Corporate and Other      
  (incl. intersegment eliminations) (96) (67)    
 Operational EBITA %  ABB Group 19.2% 19.0%    
  Electrification 23.9% 23.2%    
  Motion 19.8% 19.9%    
  Process Automation 15.9% 15.5%    
  Robotics & Discrete Automation 9.1% 11.1%    
 Cash flow from operating activities ABB Group 1,059 1,067    
  Electrification 956 850    
  Motion 354 509    
  Process Automation 252 257    
  Robotics & Discrete Automation 123 98    
  Corporate and Other       
  (incl. intersegment eliminations) (626) (647)

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

5 Q2 2025 FINANCIAL INFORMATION  
    CHANGE 
 ($ in millions, unless otherwise indicated) H1 2025 H1 2024 US$ Local Comparable 
 Orders  ABB Group 18,998 17,409 9% 9% 9% 
  Electrification 8,912 8,465 5% 6% 5% 
  Motion 4,268 4,317 -1% -1% -1% 
  Process Automation 4,644 3,499 33% 32% 32% 
  Robotics & Discrete Automation 1,528 1,389 10% 11% 11% 
  Corporate and Other 238 254    
  Intersegment eliminations (592) (515)    
 Order backlog (end June) ABB Group 24,975 22,047 13% 8% 9% 
  Electrification 8,685 7,548 15% 12% 12% 
  Motion 6,102 5,669 8% 1% 1% 
  Process Automation 9,269 7,409 25% 19% 19% 
  Robotics & Discrete Automation 1,489 1,758 -15% -19% -19% 
  Corporate and Other   
   
  (incl. intersegment eliminations) (570) (337) 
 Revenues  ABB Group 16,835 16,109 5% 5% 5% 
  Electrification 8,156 7,489 9% 9% 9% 
  Motion 3,905 3,780 3% 3% 3% 
  Process Automation 3,437 3,318 4% 4% 4% 
  Robotics & Discrete Automation 1,557 1,697 -8% -8% -8% 
  Corporate and Other 203 270 
   
  Intersegment eliminations (423) (445) 
 Income from operations ABB Group 3,140 2,593    
  Electrification 1,912 1,606    
  Motion 754 670    
  Process Automation 536 508    
  Robotics & Discrete Automation 123 137    
  Corporate and Other   
 
  (incl. intersegment eliminations) (185) (328) 
 Income from operations % ABB Group 18.7% 16.1%    
  Electrification 23.4% 21.4%    
  Motion 19.3% 17.7%    
  Process Automation 15.6% 15.3%    
  Robotics & Discrete Automation 7.9% 8.1%    
 Operational EBITA ABB Group 3,305 2,981 11% 11%  
  Electrification 1,919 1,713 12% 13%  
  Motion 767 731 5% 5%  
  Process Automation 545 516 6% 6%  
  Robotics & Discrete Automation 148 206 -28% -28%  
  Corporate and Other    
  (incl. intersegment eliminations) (74) (185)    
 Operational EBITA %  ABB Group 19.7% 18.4%    
  Electrification 23.6% 22.8%    
  Motion 19.7% 19.2%    
  Process Automation 15.9% 15.5%    
  Robotics & Discrete Automation 9.5% 12.2%    
 Cash flow from operating activities ABB Group 1,743 1,793    
  Electrification 1,477 1,397    
  Motion 664 861    
  Process Automation 516 486    
  Robotics & Discrete Automation 188 193    
  Corporate and Other      
  (incl. intersegment eliminations) (1,102) (1,144)

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

6 Q2 2025 FINANCIAL INFORMATION  
Operational EBITA 
     Process Robotics & Discrete 
  ABB Electrification Motion Automation Automation 
 ($ in millions, unless otherwise indicated) Q2 25 Q2 24 Q2 25 Q2 24 Q2 25 Q2 24 Q2 25 Q2 24 Q2 25 Q2 24 
 Revenues 8,900 8,239 4,331 3,809 2,065 1,951 1,804 1,717 813 833 
 Foreign exchange/commodity timing           
 differences in total revenues 1 (4) (8) 10 (8) – 17 (19) – 3 
 Operational revenues 8,901 8,235 4,323 3,819 2,057 1,951 1,821 1,698 813 836 
            
 Income from operations 1,573 1,376 990 837 393 369 273 274 67 46 
 Acquisition-related amortization 50 57 29 23 9 8 4 2 7 20 
 Restructuring, related and            
 implementation costs(1) 8 50 4 8 5 14 1 – 2 20 
 Changes in obligations related to            
 divested businesses (2) (11) – – – – – – – – 
 Gains and losses from sale of businesses (1) 55 (2) 24 – – – – – – 
 Acquisition- and divestment-related            
 expenses and integration costs 22 18 9 19 1 2 4 1 2 5 
 Certain other non-operational items 35 50 2 (1) 4 – – (5) (1) (2) 
 Foreign exchange/commodity timing           
 differences in income from operations  23 (31) 1 (23) (5) (5) 8 (9) (3) 4 
 Operational EBITA 1,708 1,564 1,033 887 407 388 290 263 74 93 
            
 Operational EBITA margin (%) 19.2% 19.0% 23.9% 23.2% 19.8% 19.9% 15.9% 15.5% 9.1% 11.1% 
 
 
     Process Robotics & Discrete 
  ABB Electrification Motion Automation Automation 
 ($ in millions, unless otherwise indicated) H1 25 H1 24 H1 25 H1 24 H1 25 H1 24 H1 25 H1 24 H1 25 H1 24 
 Revenues 16,835 16,109 8,156 7,489 3,905 3,780 3,437 3,318 1,557 1,697 
 Foreign exchange/commodity timing           
 differences in total revenues (20) 61 (13) 23 (11) 29 (2) 6 6 (2) 
 Operational revenues 16,815 16,170 8,143 7,512 3,894 3,809 3,435 3,324 1,563 1,695 
            
 Income from operations 3,140 2,593 1,912 1,606 754 670 536 508 123 137 
 Acquisition-related amortization 95 113 55 46 18 17 8 3 14 41 
 Restructuring, related and           
 implementation costs(1) 24 76 10 18 7 22 3 7 7 20 
 Changes in obligations related to            
 divested businesses (3) (11) – – – – – – – – 
 Gains and losses from sale of businesses  (12) 57 (13) 24 – – – – – – 
 Acquisition- and divestment-related            
 expenses and integration costs 31 37 19 29 2 2 5 1 4 7 
 Certain other non-operational items 56 113 (29) 2 10 3 (2) (5) (1) (1) 
 Foreign exchange/commodity timing           
 differences in income from operations  (26) 3 (35) (12) (24) 17 (5) 2 1 2 
 Operational EBITA 3,305 2,981 1,919 1,713 767 731 545 516 148 206 
            
 Operational EBITA margin (%) 19.7% 18.4% 23.6% 22.8% 19.7% 19.2% 15.9% 15.5% 9.5% 12.2% 
(1) Includes impairment of certain assets.

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

7 Q2 2025 FINANCIAL INFORMATION  
Depreciation and Amortization  
     Process Robotics & Discrete 
  ABB Electrification Motion Automation Automation 
 ($ in millions) Q2 25 Q2 24 Q2 25 Q2 24 Q2 25 Q2 24 Q2 25 Q2 24 Q2 25 Q2 24 
 Depreciation 149 135 76 66 32 30 13 11 14 14 
 Amortization 64 67 36 28 11 10 6 3 8 21 
 including total acquisition-related amortization of: 50 57 29 23 9 8 4 2 7 20 
 
 
       Process Robotics & Discrete  
  ABB Electrification Motion Automation Automation 
 ($ in millions) H1 25 H1 24 H1 25 H1 24 H1 25 H1 24 H1 25 H1 24 H1 25 H1 24 
 Depreciation 288 268 147 132 63 58 25 23 28 29 
 Amortization 121 135 68 56 22 20 11 5 16 43 
 including total acquisition-related amortization of: 95 113 55 46 18 17 8 3 14 41 
 
 
Orders received and revenues by region 
  Orders received CHANGE Revenues CHANGE 
 
($ in millions, unless otherwise indicated) 
    Com-     Com- 
 Q2 25 Q2 24 US$ Local parable Q2 25 Q2 24 US$ Local parable 
 Europe 3,130 2,786 12% 6% 6% 3,016 2,831 7% 1% 0% 
 The Americas 3,843 3,031 27% 27% 28% 3,272 2,960 11% 11% 12% 
 of which United States 3,086 2,241 38% 36% 37% 2,523 2,221 14% 13% 14% 
 Asia, Middle East and Africa 2,812 2,618 7% 7% 6% 2,612 2,448 7% 6% 6% 
 of which China 1,104 1,066 4% 3% 2% 1,108 1,134 -2% -3% -5% 
 ABB Group 9,785 8,435 16% 14% 14% 8,900 8,239 8% 6% 6% 
 
 
 ($ in millions, unless otherwise indicated) Orders received CHANGE Revenues CHANGE 
  
    Com-     Com- 
 H1 25 H1 24 US$ Local parable H1 25 H1 24 US$ Local parable 
 Europe 6,364 6,084 5% 3% 3% 5,789 5,579 4% 2% 2% 
 The Americas 6,982 5,935 18% 19% 19% 6,190 5,749 8% 9% 10% 
 of which United States 5,406 4,380 23% 23% 23% 4,780 4,331 10% 10% 11% 
 Asia, Middle East and Africa 5,652 5,390 5% 6% 5% 4,856 4,781 2% 2% 2% 
 of which China 2,295 2,116 8% 9% 8% 2,066 2,132 -3% -3% -5% 
 ABB Group 18,998 17,409 9% 9% 9% 16,835 16,109 5% 5% 5%

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

8 Q2 2025 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, 2025 Jun. 30, 2024 Jun. 30, 2025 Jun. 30, 2024 
 Sales of products 13,943 13,355 7,376 6,852 
 Sales of services and other 2,892 2,754 1,524 1,387 
 Total revenues 16,835 16,109 8,900 8,239 
 Cost of sales of products (8,396) (8,204) (4,513) (4,163) 
 Cost of services and other (1,554) (1,538) (813) (773) 
 Total cost of sales (9,950) (9,742) (5,326) (4,936) 
 Gross profit 6,885 6,367 3,574 3,303 
 Selling, general and administrative expenses  (3,352) (3,101) (1,748) (1,573) 
 Non-order related research and development expenses  (679) (690) (350) (345) 
 Other income (expense), net 286 17 97 (9) 
 Income from operations 3,140 2,593 1,573 1,376 
 Interest and dividend income 95 103 41 46 
 Interest and other finance expense (63) (50) (16) (13) 
 Non-operational pension (cost) credit 30 26 16 10 
 Income from continuing operations before taxes  3,202 2,672 1,614 1,419 
 Income tax expense (895) (654) (426) (315) 
 Income from continuing operations, net of tax  2,307 2,018 1,188 1,104 
 Loss from discontinued operations, net of tax  (8) (3) (7) (2) 
 Net income 2,299 2,015 1,181 1,102 
 Net income attributable to noncontrolling     
 interests and redeemable noncontrolling interests  (46) (14) (30) (6) 
 Net income attributable to ABB 2,253 2,001 1,151 1,096 
      
 Amounts attributable to ABB shareholders:      
 Income from continuing operations, net of tax 2,261 2,004 1,158 1,098 
 Loss from discontinued operations, net of tax  (8) (3) (7) (2) 
 Net income 2,253 2,001 1,151 1,096 
      
 Basic earnings per share attributable to ABB shareholders:      
 Income from continuing operations, net of tax 1.23 1.09 0.63 0.59 
 Loss from discontinued operations, net of tax  – – – – 
 Net income 1.23 1.09 0.63 0.59 
      
 Diluted earnings per share attributable to ABB shareholders:      
 Income from continuing operations, net of tax  1.23 1.08 0.63 0.59 
 Loss from discontinued operations, net of tax  – – – – 
 Net income 1.23 1.08 0.63 0.59 
      
 Weighted-average number of shares outstanding (in millions) used to compute:      
 Basic earnings per share attributable to ABB shareholders 1,833 1,844 1,830 1,849 
 Diluted earnings per share attributable to ABB shareholders  1,836 1,853 1,832 1,855 
 Due to rounding, numbers presented may not add to the totals provided.     
 
     
 See Notes to the Consolidated Financial Information

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

9 Q2 2025 FINANCIAL INFORMATION  
      
      
      
      
      
      
      
 —     
 ABB Ltd Condensed Consolidated Statements of Comprehensive 
 Income (unaudited) 
      
      
  Six months ended Three months ended 
 ($ in millions) Jun. 30, 2025 Jun. 30, 2024 Jun. 30, 2025 Jun. 30, 2024 
 Total comprehensive income, net of tax 2,333 2,053 1,040 990 
 Total comprehensive (income) loss attributable to noncontrolling interests and      
 redeemable noncontrolling interests, net of tax  (65) 2 (43) (6) 
 Total comprehensive income attributable to ABB shareholders, net of tax  2,268 2,055 997 984 
 Due to rounding, numbers presented may not add to the totals provided.     
       See Notes to the Consolidated Financial Information

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

10 Q2 2025 FINANCIAL INFORMATION  
 —   
 ABB Ltd Consolidated Balance Sheets (unaudited)   
    
    
 ($ in millions) Jun. 30, 2025 Dec. 31, 2024 
 Cash and equivalents 3,266 4,326 
 Marketable securities and short-term investments 1,846 1,334 
 Receivables, net 7,949 7,388 
 Contract assets 1,301 1,115 
 Inventories, net 6,396 5,768 
 Prepaid expenses 361 287 
 Other current assets 517 541 
 Total current assets 21,636 20,759 
    
 Property, plant and equipment, net 4,618 4,177 
 Operating lease right-of-use assets 849 840 
 Investments in equity-accounted companies 388 368 
 Prepaid pension and other employee benefits  834 689 
 Intangible assets, net 1,192 1,048 
 Goodwill 11,352 10,555 
 Deferred taxes 1,392 1,363 
 Other non-current assets 538 489 
 Total assets 42,799 40,288 
    
 Accounts payable, trade 5,273 5,036 
 Contract liabilities 3,354 2,969 
 Short-term debt and current maturities of long -term debt 558 293 
 Current operating leases 266 235 
 Provisions 1,604 1,539 
 Other current liabilities 4,682 4,582 
 Total current liabilities 15,737 14,654 
    
 Long-term debt 8,255 6,652 
 Non-current operating leases 611 631 
 Pension and other employee benefits 605 569 
 Deferred taxes 816 675 
 Other non-current liabilities 2,175 2,116 
 Total liabilities 28,199 25,297 
    
 Commitments and contingencies   
    
 Stockholders’ equity:   
 Common stock, CHF 0.12 par value   
 (1,844 million and 1,861 million shares issued at June  30, 2025, and December 31, 2024, respectively) 160 162 
 Additional paid-in capital 15 50 
 Retained earnings 20,125 20,648 
 Accumulated other comprehensive loss (5,335) (5,350) 
 Treasury stock, at cost   
 (18 million and 22 million shares at June 30, 2025, and December 31, 2024, respectively) (890) (1,091) 
 Total ABB stockholders’ equity 14,075 14,419 
 Noncontrolling interests 525 572 
 Total stockholders’ equity 14,600 14,991 
 Total liabilities and stockholders’ equity 42,799 40,288 
 Due to rounding, numbers presented may not add to the totals provided.   
 
   
 See Notes to the Consolidated Financial Information

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

11 Q2 2025 FINANCIAL INFORMATION  
 —     
 ABB Ltd Consolidated Statements of Cash Flows (unaudited) 
      
      
  Six months ended Three months ended 
 ($ in millions) Jun. 30, 2025 Jun. 30, 2024 Jun. 30, 2025 Jun. 30, 2024 
 Operating activities:     
 Net income 2,299 2,015 1,181 1,102 
 Adjustments to reconcile net income to     
 net cash provided by operating activities:     
 Depreciation and amortization 409 403 213 202 
 Changes in fair values of investments (41) (20) (29) (7) 
 Pension and other employee benefits (40) (35) (19) (22) 
 Deferred taxes 108 22 81 28 
 Net gain from derivatives and foreign exchange  (89) (39) (30) (31) 
 Net gain from sale of property, plant and equipment  (184) (26) (51) (21) 
 Net loss (gain) from sale of businesses (13) 57 (2) 55 
 Other 15 73 22 41 
 Changes in operating assets and liabilities:      
 Trade receivables, net (157) (179) (161) (146) 
 Contract assets and liabilities 65 162 (76) 124 
 Inventories, net (60) (311) 43 (106) 
 Accounts payable, trade (110) 198 2 116 
 Accrued liabilities (365) (424) 146 49 
 Provisions, net (64) (14) (9) (51) 
 Income taxes payable and receivable 183 (6) (29) (128) 
 Other assets and liabilities, net (213) (83) (223) (138) 
 Net cash provided by operating activities 1,743 1,793 1,059 1,067 
       Investing activities:     
 Purchases of investments (996) (916) (150) (39) 
 Purchases of property, plant and equipment and intangible assets  (419) (366) (224) (185) 
 Acquisition of businesses (net of cash acquired)      
 and increases in cost- and equity-accounted companies (571) (134) (19) (104) 
 Proceeds from sales of investments 517 1,584 188 857 
 Proceeds from sales of property, plant and equipment  173 42 10 36 
 Proceeds from sales of businesses (net of transaction costs      
 and cash disposed) and cost- and equity-accounted companies 66 (8) 23 – 
 Net cash from settlement of foreign currency derivatives (3) 124 (113) 93 
 Other investing activities 1 (6) (1) (7) 
 Net cash provided by (used in) investing activities  (1,232) 320 (286) 651 
       Financing activities:     
 Net changes in debt with original maturities of 90 days or less 139 (7) (261) 13 
 Increase in debt 1,090 1,364 795 6 
 Repayment of debt (131) (2,151) (124) (1,586) 
 Delivery of shares 19 390 19 – 
 Purchase of treasury stock (783) (563) (494) (272) 
 Dividends paid (1,907) (1,769) (1,907) (850) 
 Dividends paid to noncontrolling shareholders  (105) (94) (105) (94) 
 Other financing activities 8 (55) 7 (52) 
 Net cash used in financing activities (1,670) (2,885) (2,070) (2,835) 
       Effects of exchange rate changes on cash and equivalents 99 (158) 69 (24) 
 Net change in cash and equivalents (1,060) (930) (1,228) (1,141) 
       Cash and equivalents, beginning of period  4,326 3,909 4,494 4,120 
 Cash and equivalents, end of period 3,266 2,979 3,266 2,979 
       Supplementary disclosure of cash flow information:      
 Interest paid 184 148 66 54 
 Income taxes paid 637 643 379 415 
 Due to rounding, numbers presented may not add to the totals provided.     
 See Notes to the Consolidated Financial Information

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

12 Q2 2025 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, 2024 163 7 19,655 (5,070) (1,414) 13,341 647 13,988 
 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 18,714 (5,016) (469) 13,400 597 13,997 
          
          
 Balance at January 1, 2025 162 50 20,648 (5,350) (1,091) 14,419 572 14,991 
 Net income   2,253   2,253 46 2,299 
 Foreign currency translation         
 adjustments, net of tax of $(3)    91  91 19 110 
 Effect of change in fair value of         
 available-for-sale securities,         
 net of tax of $0    3  3  3 
 Unrecognized income (expense)         
 related to pensions and other         
 postretirement plans,         
 net of tax of $(27)    (82)  (82)  (82) 
 Change in derivative instruments         
 and hedges, net of tax of $0    3  3  3 
 Changes in noncontrolling interests  –    – (8) (8) 
 Dividends to         
 noncontrolling shareholders      – (105) (105) 
 Dividends to shareholders   (1,867)   (1,867)  (1,867) 
 Cancellation of treasury shares (2) (61) (831)  894 –  – 
 Share-based payment arrangements  37    37 2 39 
 Purchase of treasury stock     (802) (802)  (802) 
 Delivery of shares  (13) (77)  109 19  19 
 Balance at June 30, 2025 160 15 20,125 (5,335) (890) 14,075 525 14,600 
 
(1) Amount attributable to noncontrolling interests for the six months ended June 30, 2024, excludes the net loss of $1 million, related to redeemable noncontrolling interests.  
 Due to rounding, numbers presented may not add to the totals provided. 
           
 See Notes to the Consolidated Financial Information

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

13 Q2 2025 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 global technology leader in electrification and automation, enabling a more 
sustainable and resource-efficient future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while 
becoming more efficient, productive and sustainable so they outperform . 
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 Financial Report for the year ended December 31, 2024. 
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.  
For classification of certain current assets and liabilities, the Company has elected to use the duration of individual contr acts as its operating cycle. 
Accordingly, there are contract assets and liabilities, accounts receivable, inventories and provisions related to these contracts which will not be  realized 
within one year that have been classified as current. Long -term system integration activities comprise the majority of the Company’s activities which 
have an operating cycle in excess of 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, as mentioned below in this Note. 
Change in accounting policy 
Effective January 1, 2025, the Company changed its accounting policy related to the functional classification of information system expenses in the 
income statement. Previously, the Company allocated information system expenses in the income statement to the functional area based on a 
headcount approach while, in connection with this change, information systems expenses are allocated to the relevant income statement caption based 
on the nature of the underlying system. 
The Company’s consolidated financial statements have been retroactively restated to reflect this accounting policy change. In connection with this 
change, the Company recorded a cumulative-effect reduction of $69 million to the balance of Retained earnings on January 1, 2023, representing the 
impact of the policy change on Inventories and the related deferred tax balance. The effect on Net income for the years 2023 and 2024 was not 
considered significant and therefore no changes have been recorded. 
As a result, the Company’s Consolidated Balance Sheet amounts at December 31, 2024, for Inventories, Deferred taxes (asset), and Retained earnings 
have changed from $5,859 million, $1,341 million and $20,717 million, respectively, to $5,768 million, $1,363 million and $20,648 million, respectively.

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

14 Q2 2025 FINANCIAL INFORMATION  
The following table details the reclassification of information systems expenses within the Consolidated Income Statement: 
  Six months ended June 30, 2024 Three months ended June 30, 2024 
 ($ in millions) Before After Before After 
 Cost of sales of products 8,415 8,204 4,270 4,163 
 Cost of services and other 1,585 1,538 795 773 
 Selling, general and administrative expenses  2,806 3,101 1,425 1,573 
 Non-order related research and development expenses  727 690 364 345 
 
Warranty provision split 
In 2025, the Company split the amount previously reported in Provision for warranties into current and non-current components and retroactively recast 
the amounts for all periods presented. The balance at December  31, 2024, which was previously recorded on a combined basis, of $1,248 million has been 
reclassified into Provisions ($686 million) and Other non-current liabilities ($562 million). See Note 10 - Commitments and contingencies for additional 
information. 
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 quanti tative 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.  
 
 
─ 
Note 2 
Recent accounting pronouncements 
Applicable for current periods 
Improvements to Income tax disclosures  
In January 2025, the Company adopted an accounting standard update which requires the Company to disclose additional information related 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. The Company is currently evaluating the impact of adopting this update prospectively or retrospectively on  its 
consolidated financial statements. Apart from the additional disclosure requirements, this update does not have a significant  impact on the Company’s 
consolidated financial statements. 
Applicable for future periods 
Disaggregation of Income Statement Expenses  
In November 2024, an accounting standard update was issued which requires the Company to disclose additional information for certain types of 
expenses, including purchases of inventory, employee compensation, depreciation, and amortization, presented in each relevant  income statement 
expense caption (such as cost of sales, selling, general and administrative expenses). This update is effective for the Compa ny prospectively, with 
retrospective adoption permitted, for annual periods beginning January  1, 2027, and interim periods beginning January 1, 2028. The Company is currently 
evaluating the impact of adopting this update on its consolidated financial statements. 
 
 
─ 
Note 3 
Acquisitions and divestments 
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)  2025 2024 2025 2024 
 Purchase price for acquisitions (net of cash acquired) (1) 551 104 10 75 
 Aggregate excess of purchase price over     
 fair value of net assets acquired(2) 436 89 10 60 
 Number of acquired businesses  4 3 1 1 
(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 ” in the six months 
ended June 30, 2025, relate primarily to the acquisitions of Sensorfact BV and the Siemens Wiring Accessories Business in China. 
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.  
On February 3, 2025, the Company acquired all of the shares of Sensorfact BV. Sensorfact BV , headquartered in Utrecht, Netherlands, offers a scalable 
software as a service (SaaS) solution that helps small and medium sized enterprises use AI in their operations and energy man agement to lower costs 
and increase efficiency. The cash outflows to complete the transaction amounted to $1 48 million (net of cash acquired). This acquisition will expand the 
Company’s portfolio of energy management solutions that use big data and AI within its Electrification segment.

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

15 Q2 2025 FINANCIAL INFORMATION  
On March 3, 2025, the Company acquired through numerous share and asset purchases all of the assets, liabilities and business activities of the Siemens 
Wiring Accessories Business in China. The Siemens Wiring Accessories Business offering, which distributes throughout China, includes wiring 
accessories, smart home systems, smart door locks and further peripheral home automation products . The cash outflows to complete the transaction 
amounted to $380 million (net of cash acquired). This acquisition will broaden the market reach of the Company’s Electrification segment and 
complement the segments’ regional customer offering within smart buildings . 
While the Company uses its best estimates and assumptions as part of the purchase price allocation process to value assets ac quired and liabilities 
assumed at the acquisition date, the purchase price allocation for acquisitions is preliminary for up to 12  months after the acquisition date and is 
subject to refinement as more detailed analyses are completed and additional information about the fair values of the assets and liabilities becomes 
available.  
─ 
Note 4 
Cash and equivalents, marketable securities and short-term investments 
Cash and equivalents, marketable securities and short -term investments consisted of the following:  
   June 30, 2025 
        Marketable 
    Gross Gross   securities 
    unrealized unrealized  Cash and and short-term 
 ($ in millions) Cost basis gains losses Fair value equivalents investments 
 Changes in fair value        
 recorded in net income       
 Cash 1,516   1,516 1,516  
 Time deposits 2,222   2,222 1,750 472 
 Equity securities 1,308 46  1,354  1,354 
  5,046 46 – 5,092 3,266 1,826 
 Changes in fair value recorded       
 in other comprehensive income       
 Debt securities available-for-sale:       
  Other government obligations 20   20  20 
  20 – – 20 – 20 
 Total 5,066 46 – 5,112 3,266 1,846 
         
 
   December 31, 2024 
        Marketable 
    Gross Gross   securities 
    unrealized unrealized  Cash and and short-term 
 ($ in millions) Cost basis gains losses Fair value equivalents investments 
 Changes in fair value       
 recorded in net income       
 Cash 1,328   1,328 1,328  
 Time deposits 3,518   3,518 2,998 520 
 Equity securities 794 22 (2) 814  814 
 Total 5,640 22 (2) 5,660 4,326 1,334

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

16 Q2 2025 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 future 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 busines s, 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, 2025 December 31, 2024 June 30, 2024 
 Foreign exchange contracts 17,003 12,800 13,924 
 Embedded foreign exchange derivatives  1,547 1,159 1,131 
 Cross-currency interest rate swaps 938 833 857 
 Interest rate contracts 1,762 1,510 1,071 
 
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, 2025 December 31, 2024 June 30, 2024 
 Copper swaps metric tonnes 35,997 40,699 29,453 
 Silver swaps ounces 2,430,081 2,648,681 1,754,340 
 Steel swaps metric tonnes 18,144 20,185 16,738 
 Aluminum swaps metric tonnes 4,700 4,525 5,125 
 
Cash flow hedges 
As noted above, the Company mainly uses forward foreign exchange contracts to manage the foreign exchange risk of its operati ons 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, 2025 and 2024, 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 2025 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)  2025 2024 2025 2024 
 Gains (losses) recognized in Interest and other finance expense:      
 Interest rate contracts Designated as fair value hedges (1) 10 4 (3) 
  Hedged item 1 (10) (4) 4 
 Cross-currency interest rate swaps Designated as fair value hedges 2 (5) 3 (2) 
  Hedged item – 6 (2) 3 
 
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 2025 2024 2025 2024 
 Foreign exchange contracts Total revenues 146 (186) 66 (18) 
  Total cost of sales (23) 52 (6) 5 
  SG&A expenses(1) (53) 21 (34) 8 
  Non-order related research      
  and development – (1) – 1 
  Interest and other finance expense (238) 194 (288) (53) 
 Embedded foreign exchange Total revenues (5) 16 (3) (2) 
 contracts Total cost of sales 9 (4) 6 – 
 Commodity contracts Total cost of sales 36 45 (5) 36 
 Other Interest and other finance expense (1) (2) (1) – 
 Total  (129) 135 (265) (23) 
(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, 2025 
  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 2 –  1 – 
 Interest rate contracts – 6  – – 
 Cross-currency interest rate swaps – –  – 148 
 Other 3 –  – – 
 Total 5 6  1 148 
       
 Derivatives not designated as hedging instruments:       
 Foreign exchange contracts 106 22  242 10 
 Commodity contracts 19 –  7 – 
 Embedded foreign exchange derivatives  22 16  24 10 
 Total 147 38  273 20 
 Total fair value 152 44  274 168

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

18 Q2 2025 FINANCIAL INFORMATION  
  December 31, 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 – –  1 – 
 Interest rate contracts – 7  – – 
 Cross-currency interest rate swaps – –  – 256 
 Other 4 –  – – 
 Total 4 7  1 256 
       
 Derivatives not designated as hedging instruments:      
 Foreign exchange contracts 151 17  111 15 
 Commodity contracts 4 –  20 – 
 Embedded foreign exchange derivatives  22 6  11 5 
 Other – 5  – – 
 Total 177 28  142 20 
 Total fair value 181 35  143 276 
 
Close-out netting agreements provide for the termination, valuation and net settlement of some or all outstanding transactions betw een 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, 2025, and December 31, 2024, 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, 2025, and December 31, 
2024, information related to these offsetting arrangements was as follows:  
 ($ in millions) June 30, 2025 
  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 158 (81) – – 77 
 Total 158 (81) – – 77 
       
 
 ($ in millions) June 30, 2025 
  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 408 (81) – – 327 
 Total 408 (81) – – 327 
 
 ($ in millions) December 31, 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 188 (90) – – 98 
 Total 188 (90) – – 98 
       
  
 ($ in millions) December 31, 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 403 (90) – – 313 
 Total 403 (90) – – 313

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

19 Q2 2025 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, 2025 
 ($ in millions) Level 1 Level 2 Level 3 Total fair value 
 Assets     
 Securities in “Marketable securities and short-term investments”:     
 Equity securities – 1,354 – 1,354 
 Debt securities—Other government obligations 20 – – 20 
 Derivative assets—current in “Other current assets” – 152 – 152 
 Derivative assets—non-current in “Other non-current assets” – 44 – 44 
 Total 20 1,550 – 1,570 
      
 Liabilities     
 Derivative liabilities—current in “Other current liabilities” – 274 – 274 
 Derivative liabilities—non-current in “Other non-current liabilities” – 168 – 168 
 Total – 442 – 442 
 
 
  December 31, 2024 
 ($ in millions) Level 1 Level 2 Level 3 Total fair value 
 Assets     
 Securities in “Marketable securities and short-term investments”:     
 Equity securities – 814 – 814 
 Derivative assets—current in “Other current assets” – 181 – 181 
 Derivative assets—non-current in “Other non-current assets” – 35 – 35 
 Total – 1,030 – 1,030 
      
 Liabilities     
 Derivative liabilities—current in “Other current liabilities” – 143 – 143 
 Derivative liabilities—non-current in “Other non-current liabilities” – 276 – 276 
 Total – 419 – 419

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

20 Q2 2025 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 fo r 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, 2025 and 2024. 
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, 2025 
 ($ 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 1,516  1,516 – – 1,516 
 Time deposits 1,750  – 1,750 – 1,750 
 Marketable securities and short-term investments       
 (excluding securities):       
 Time deposits 472  – 472 – 472 
        
 Liabilities       
 Short-term debt and current maturities of long -term debt       
 (excluding finance lease obligations) 533  222 311 – 533 
 Long-term debt (excluding finance lease obligations)  8,079  7,413 739 – 8,152 
 
 
  December 31, 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 1,328  1,328 – – 1,328 
 Time deposits 2,998  – 2,998 – 2,998 
 Marketable securities and short-term investments       
 (excluding securities):       
 Time deposits 520  – 520 – 520 
        
 Liabilities       
 Short-term debt and current maturities of long -term debt       
 (excluding finance lease obligations) 265  188 77 – 265 
 Long-term debt (excluding finance lease obligations) 6,486  6,012 551 – 6,563 
 
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) 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 2025 FINANCIAL INFORMATION  
─ 
Note 7 
Contract assets and liabilities 
The following table provides information about Contract assets and Contract liabilities:  
 ($ in millions) June 30, 2025 December 31, 2024 June 30, 2024 
 Contract assets 1,301 1,115 1,118 
 Contract liabilities 3,354 2,969 2,973 
 
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, 
  2025  2024 
  Contract  Contract  Contract  Contract 
 ($ in millions) assets  liabilities  assets  liabilities 
 Revenue recognized, which was included in the Contract liabilities balance at Jan 1, 2025/2024    (1,246)    (1,084) 
 Additions to Contract liabilities - excluding amounts recognized as revenue during the period    1,415    1,301 
 Receivables recognized that were included in the Contract assets balance at Jan 1, 2025/2024  (544)    (516)   
 
The Company considers its order backlog to represent its unsatisfied performance obligations. At June 30, 2025, the Company had unsatisfied 
performance obligations totaling $24,975 million and, of this amount, the Company expects to fulfill approximately 46 percent of the obligations in 2025, 
approximately 32 percent of the obligations in 2026 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 Consolid ated Balance Sheets and are 
reported as operating or investing (if capitalized) activities in the Consolidated Statement of Cash Flows when paid. At June  30, 2025, and December 31, 
2024, the total obligation outstanding under supplier finance programs amounted to $468 million and $435 million, respectively. 
 
 
─ 
Note 9 
Debt 
The Company’s total debt at June 30, 2025, and December 31, 2024, amounted to $8,813 million and $6,945 million, respectively. 
Short-term debt and current maturities of long-term debt  
The Company’s “Short-term debt and current maturities of long-term debt” consisted of the following: 
 ($ in millions) June 30, 2025 December 31, 2024 
 Short-term debt 322 83 
 Current maturities of long-term debt 236 210 
 Total 558 293 
 
Short-term debt primarily represented issued commercial paper and short-term bank borrowings from various banks. At June 30, 2025, $225 million was 
outstanding under the $2 billion Euro-commercial paper program, no amount was outstanding under this program at December  31, 2024.

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

22 Q2 2025 FINANCIAL INFORMATION  
Long-term debt 
The Company’s long-term debt at June 30, 2025, and December 31, 2024, amounted to $8,255 million and $6,652 million, respectively.  
Significant long-term borrowings (including maturities within the next 12 months) were as follows:   
  June 30, 2025 December 31, 2024 
 (in millions) Nominal outstanding  Carrying value(1) Nominal outstanding  Carrying value(1) 
 2.1% CHF Bonds, due 2025 CHF 150 $ 188 CHF 150 $ 166 
 1.965% CHF Bonds, due 2026 CHF 325 $ 407 CHF 325 $ 359 
 3.25% EUR Instruments, due 2027 EUR 500 $ 584 EUR 500 $ 518 
 0.75% CHF Bonds, due 2027 CHF 425 $ 533 CHF 425 $ 468 
 3.8% USD Notes, due 2028(2) USD 383 $ 382 USD 383 $ 382 
 1.9775% CHF Bonds, due 2028 CHF 150 $ 188 CHF 150 $ 165 
 3.125% EUR Instruments, due 2029 EUR 500 $ 590 EUR 500 $ 523 
 1.0% CHF Bonds, due 2029 CHF 170 $ 213 CHF 170 $ 188 
 0% EUR Instruments, due 2030 EUR 800 $ 832 EUR 800 $ 727 
 2.375% CHF Bonds, due 2030 CHF 150 $ 188 CHF 150 $ 165 
 3.375% EUR Instruments, due 2031 EUR 750 $ 868 EUR 750 $ 770 
 Floating rate EIB R&D Loan, due 2031  USD  539 $ 539 USD 539 $ 539 
 0.8725% CHF Bonds, due 2032 CHF 350 $ 438     
 2.1125% CHF Bonds, due 2033 CHF 275 $ 344 CHF 275 $ 303 
 3.375% EUR Instruments, due 2034 EUR 750 $ 877 EUR 750 $ 780 
 1.2762% CHF Bonds, due 2036 CHF 250 $ 313     
 4.375% USD Notes, due 2042(2) USD 609 $ 592 USD 609 $ 591 
 Total    $ 8,076   $ 6,644 
(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 June 2025, the Company issued the following CHF bonds: (i)  CHF 350 million 0.8725% Bonds, due 2032, and (ii) CHF 250 million 1.2762% Bonds, due 
2036, both paying interest annually in arrears. The aggregate net proceeds of these CHF Bonds, after fees, amounted to CHF  598 million (equivalent to 
approximately $731 million on date of issuance). 
 
 
─ 
Note 10 
Commitments and contingencies 
Contingencies—Regulatory, Compliance and Legal  
General 
The Company is subject to proceedings, litigation or threatened litigation and other claims and inquiries related to various regulatory, commercial and 
other matters. The Company assesses the likelihood of any adverse judgments or outcomes to these matters, as well as potentia l ranges of probable 
losses. A determination of the provision required, if any, for these contingencies is made after analysis of each individual issue, with assistance, when 
necessary, from internal and external legal counsel and technical experts.  
At June 30, 2025, and December 31, 2024, the Company had aggregate liabilities of $48 million and $83 million, respectively, included in Provisions and 
Other non‑current liabilities, for the regulatory, compliance and legal contingencies, and none of the individual liabilities recognize d was significant. As it 
is not possible to make an informed judgment on, or reasonably predict, the outcome of certain matters and as it is not possi ble, based on information 
currently available to management, to estimate the maximum potential liability on other matters, there could be adverse outco mes beyond the amounts 
accrued. 
Guarantees  
General 
The following table provides quantitative data regarding the Company’s third -party guarantees. The maximum potential payments represent a 
“worst-case scenario”, and do not reflect management’s expected outcomes.  
 Maximum potential payments ($ in millions) June 30, 2025 December 31, 2024 
 Performance guarantees 2,114 2,299 
 Financial guarantees 20 22 
 Total(1) 2,134 2,321 
(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, 2025, and 
December 31, 2024, 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 2049, 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.

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

23 Q2 2025 FINANCIAL INFORMATION  
In conjunction with the divestment of the high -voltage cable and cables accessories businesses  in 2017, the Company has entered into various 
performance guarantees with other parties with respect to certain liabilities of the divested business. At June  30, 2025, and December 31, 2024, the 
maximum potential payable under these guarantees amounts to $845 million and $747 million, respectively, and these guarantees have various original 
maturities up 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, 2025, and December 31, 2024, have been fully indemnified by Hitachi Ltd. These 
guarantees, having various maturities up to 2049, 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, 2025, and December 31, 2024, is approximately $0.9 billion and $1.1 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, 2025, and December 31, 2024, the total outstanding performance bonds aggregated to  
$3.5 billion and $3.2 billion, respectively. There have been no significant amounts reimbursed to financial institutions under these types of arrangements  
in the six and three months ended June 30, 2025 and 2024. 
Product and order-related contingencies 
The Company calculates its provision for product warranties based on historical claims experience and specific review of certain contracts.  The 
reconciliation of the Provisions for warranties, including guarantees of product performance, was as follows:  
 ($ in millions) 2025 2024 
 Balance at January 1, 1,248 1,210 
 Claims paid in cash or in kind (85) (78) 
 Net increase in provision for changes in estimates, warranties issued and warranties expired  113 120 
 Exchange rate differences 96 (40) 
 Balance at June 30, 1,372 1,212 
 Included in:   
 ”Provisions” — current liabilities 733 638 
 ”Other non-current liabilities” — non-current liabilities 639 574 
 Provisions for warranties - Total 1,372 1,212 
 
 
 
─ 
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 28.0 percent in the six months ended June 30, 2025, was higher than the effective tax rate of 24.5 percent in the six months 
ended June 30, 2024, primarily due to 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. This resulted in an increase of $0.04 in earnings per share (basic and diluted) for the six and 
three months ended June 30, 2024.

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

24 Q2 2025 FINANCIAL INFORMATION  
─ 
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, 2025, 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, 2025 2024 2025 2024 
 Operational pension cost:     
 Service cost 28 23 12 13 
 Operational pension cost 28 23 12 13 
 Non-operational pension cost (credit):     
 Interest cost 11 17 78 78 
 Expected return on plan assets (59) (62) (83) (85) 
 Amortization of prior service cost (credit) – (4) (2) (1) 
 Amortization of net actuarial loss – – 25 26 
 Curtailments, settlements and special termination benefits  – 2 – 4 
 Non-operational pension cost (credit) (1) (48) (47) 18  22  
 Net periodic benefit cost (credit) (20) (24) 30 35 
 
 ($ in millions) Defined pension benefits 
  Switzerland International 
 Three months ended June 30, 2025 2024 2025 2024 
 Operational pension cost:     
 Service cost 15 12 6 5 
 Operational pension cost 15 12 6 5 
 Non-operational pension cost (credit):     
 Interest cost 6 8 40 39 
 Expected return on plan assets (32) (31) (42) (42) 
 Amortization of prior service cost (credit) – (2) (1) – 
 Amortization of net actuarial loss – – 13 13 
 Curtailments, settlements and special termination benefits  – 2 – 4 
 Non-operational pension cost (credit) (1) (26) (23) 10  14 
 Net periodic benefit cost (credit) (11) (11) 16 19 
(1) Total Non-operational pension cost (credit) includes additional credits of $0 million and $1 million for the six months ended June 30, 2025 and 2024, respectively, and 
additional credits of $0 million and $1 million for the three months ended June 30, 2025 and 2024, 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, 2025 2024 2025 2024 
 Total contributions to defined benefit pension plans  33 28 20 26 
 
 ($ in millions) Defined pension benefits 
  Switzerland International 
 Three months ended June 30, 2025 2024 2025 2024 
 Total contributions to defined benefit pension plans  18 15 11 15 
 
The Company expects to make contributions totaling approximately $101 million to its defined benefit pension plans for the full year 2025.

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

25 Q2 2025 FINANCIAL INFORMATION  
─ 
Note 13 
Stockholders' equity  
At the Annual General Meeting of Shareholders on March 27, 2025, shareholders approved the proposal of the Board of Directors to distribute 0. 90 Swiss 
francs per share to shareholders. The declared dividend  amounted to $1,867 million, and was paid in the second quarter of  2025. 
In February 2025, the Company announced the completion of its $1 billion share buyback program that was launched in April 2024. This program was 
executed on a second trading line on the SIX Swiss Exchange. Also in February 2025, the Company launched a new share buyback program of up to 
$1.5 billion, as announced in late January 2025. This program, which is being executed on a second trading line on the SIX Swiss Exchange , is planned to 
run until January 2026. Under these buyback programs, the Company  purchased approximately 14 million shares in the six months ended June 30, 2025, 
resulting in an increase in Treasury stock of $746 million. 
In the second quarter of 2025, the Company cancelled 17 million shares which had been purchased under its share buyback program. This resulted in a 
decrease in Treasury stock of $894 million and a corresponding total decrease in Capital stock, Additional paid -in capital and Retained earnings. 
 
 
─ 
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 $) 2025 2024 2025 2024 
 Amounts attributable to ABB shareholders:      
 Income from continuing operations, net of tax  2,261 2,004 1,158 1,098 
 Loss from discontinued operations, net of tax (8) (3) (7) (2) 
 Net income 2,253 2,001 1,151 1,096 
      
 Weighted-average number of shares outstanding (in millions)  1,833 1,844 1,830 1,849 
      
 Basic earnings per share attributable to ABB shareholders:      
 Income from continuing operations, net of tax 1.23 1.09 0.63 0.59 
 Loss from discontinued operations, net of tax  – – – – 
 Net income 1.23 1.09 0.63 0.59 
 
      
 Diluted earnings per share   
  Six months ended June 30, Three months ended June 30, 
 ($ in millions, except per share data in $) 2025 2024 2025 2024 
 Amounts attributable to ABB shareholders:      
 Income from continuing operations, net of tax  2,261 2,004 1,158 1,098 
 Loss from discontinued operations, net of tax  (8) (3) (7) (2) 
 Net income 2,253 2,001 1,151 1,096 
      
 Weighted-average number of shares outstanding (in millions)  1,833 1,844 1,830 1,849 
 Effect of dilutive securities:     
 Call options and shares 3 9 2 6 
 Adjusted weighted-average number of shares outstanding (in millions) 1,836 1,853 1,832 1,855 
      
 Diluted earnings per share attributable to ABB shareholders:      
 Income from continuing operations, net of tax  1.23 1.08 0.63 0.59 
 Loss from discontinued operations, net of tax  – – – – 
 Net income 1.23 1.08 0.63 0.59

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

26 Q2 2025 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 tax : 
   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) 
 
 
   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, 2025 (4,248) (3) (1,091) (8) (5,350) 
 Other comprehensive (loss) income:      
 Other comprehensive (loss) income      
 before reclassifications 110 3 (98) – 15 
 Amounts reclassified from OCI – – 16 3 19 
 Total other comprehensive (loss) income  110 3 (82) 3 34 
       
 Less:      
 Amounts attributable to      
 noncontrolling interests and      
 redeemable noncontrolling interests 19 – – – 19 
 Balance at June 30, 2025 (4,157) – (1,173) (5) (5,335) 
 
The amounts reclassified out of OCI for the six and three months ended June 30, 2025 and 2024, 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. 
Effective January 1, 2025, the Company changed its accounting policy related to the functional classification of information system expenses in the 
income statement. Under the new policy, information systems expenses are now allocated to the relevant income statement caption based on the 
nature of the underlying system and the Total segment assets of each individual operating segment have been retroactively restated for the impact of 
the policy change on Inventories and the related deferred tax balance  (see Note 1). The segment information for the six and three months ended June 30, 
2024, and at December 31, 2024, has been recast to  reflect this change. 
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 the efficient and reliable distribution 
of electricity from source to socket. The portfolio of increasingly digital and connected solutions includes renewable power 
solutions, modular substation packages, distribution automation products, switchboards 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 networks. The 
products and services are delivered through five operating Divisions: Distribution Solutions, Smart Power, Smart Buildings, Installation 
Products and Service.

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

27 Q2 2025 FINANCIAL INFORMATION  
• 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. Through 
June 30, 2025, 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. Effective July 1, 2025, the Large Motors and Generators and System Drives 
divisions will merge to form the High Power division.  
 
• 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), industrial PCs 
(IPC), servo motion, transport systems and machine vision. Both divisions offer software across the entire life cycle, including 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 includes 
the E-mobility operating segment and 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. 
For all operating segments, the primary performance measure the CODM uses to allocate resources (including capital expenditur e and financial 
resources) and assess performance as part of the monthly business review process is Operational EBITA. As part of this review  process, current 
year-to-date budget-to-actual variances are provided (inclusive of key deviations) along with forecasted annual expectations and plans to address an y 
negative variances. Operational EBITA is also used to assess segment performance against targets set in the annual incentive plans as part of the 
compensation of the Company’s employees. 
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. 
For a category of expense to be classified as a significant segment expense, it must be significant to the segment, regularly  provided to or easily 
computed from information regularly provided to the CODM and included in the primary measure of profitability. Significant se gment expenses include 
Operational cost of sales, Operational selling, general and administrative expenses, and Operational non -order related research and development costs, 
which respectively are comprised of Cost of sales, Selling, general and administrative expenses (excluding bad debt expense),  and Non-order related 
research and development costs, with each of these expense categories being adjusted to exclude any costs incurred on behalf of other segments and 
any relevant non-operational items (as defined above).  
Other segment items represent Other income (expense) excluding its respective components of non -operational items (as defined above), bad debt 
expense, and foreign exchange/commodity timing differences in total revenues.

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

28 Q2 2025 FINANCIAL INFORMATION  
The following tables present disaggregated segment revenues from contracts with customers , significant segment expenses, and Operational EBITA for 
the six and three months ended June 30, 2025 and 2024. 
  Six months ended June 30, 2025 
     Robotics &   
    Process Discrete Corporate  
 ($ in millions) Electrification Motion Automation Automation and Other Total 
 Geographical markets        
 Europe  2,451 1,159 1,377 719 83 5,789 
 The Americas  3,585 1,314 948 270 73 6,190 
 of which: United States 2,874 1,087 612 163 44 4,780 
 Asia, Middle East and Africa  2,009 1,169 1,092 560 26 4,856 
 of which: China 866 534 286 373 7 2,066 
  8,045 3,642 3,417 1,549 182 16,835 
 Product type        
 Products 7,481 3,095 1,957 1,269 141 13,943 
 Services and other 564 547 1,460 280 41 2,892 
  8,045 3,642 3,417 1,549 182 16,835 
        
 Third-party revenues 8,045 3,642 3,417 1,549 182 16,835 
 Intersegment revenues 111 263 20 8 (402) – 
 Total revenues(1) 8,156 3,905 3,437 1,557 (220) 16,835 
        
 Operational cost of sales (4,670) (2,376) (2,083) (1,012)   
 Operational selling, general and       
 administrative expenses (1,358) (603) (644) (310)   
 Operational non-order related       
 research and development       
 expenses (223) (151) (160) (92)   
 Other segment items 14 (8) (5) 5   
 Operational EBITA 1,919 767 545 148   
 
  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 
        
 Operational cost of sales (4,372) (2,404) (2,081) (1,059)   
 Operational selling, general and       
 administrative expenses (1,216) (529) (575) (328)   
 Operational non-order related       
 research and development       
 expenses (211) (157) (148) (107)   
 Other segment items 23 41 2 3   
 Operational EBITA 1,713 731 516 206

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

29 Q2 2025 FINANCIAL INFORMATION  
  Three months ended June 30, 2025 
     Robotics &   
    Process Discrete Corporate  
 ($ in millions) Electrification Motion Automation Automation and Other Total 
 Geographical markets        
 Europe  1,297 619 693 363 44 3,016 
 The Americas  1,893 679 511 146 43 3,272 
 of which: United States 1,517 563 328 91 24 2,523 
 Asia, Middle East and Africa  1,074 633 590 301 14 2,612 
 of which: China 458 291 155 201 3 1,108 
  4,264 1,931 1,794 810 101 8,900 
 Product type        
 Products 3,959 1,639 1,035 672 71 7,376 
 Services and other 305 292 759 138 30 1,524 
  4,264 1,931 1,794 810 101 8,900 
        
 Third-party revenues 4,264 1,931 1,794 810 101 8,900 
 Intersegment revenues 67 134 10 3 (214) – 
 Total revenues(1) 4,331 2,065 1,804 813 (113) 8,900 
        
 Operational cost of sales (2,481) (1,263) (1,108) (532)   
 Operational selling, general and       
 administrative expenses (708) (314) (338) (161)   
 Operational non-order related       
 research and development       
 expenses (118) (78) (82) (46)   
 Other segment items 9 (3) 14 –   
 Operational EBITA 1,033 407 290 74   
 
  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 
        
 Operational cost of sales (2,209) (1,225) (1,068) (532)   
 Operational selling, general and       
 administrative expenses (616) (266) (294) (162)   
 Operational non-order related       
 research and development       
 expenses (105) (78) (73) (51)   
 Other segment items 8 6 (19) 5   
 Operational EBITA 887 388 263 93

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

30 Q2 2025 FINANCIAL INFORMATION  
The following tables present Operational EBITA, the reconciliations of consolidated Operational EBITA to Income from continui ng operations before 
taxes, as well as Depreciation and amortization, and Capital expenditures for the six and three months ended June 30, 2025 and 2024, and Total assets 
at June 30, 2025, and December 31, 2024: 
  Six months ended  Three months ended 
  June 30, June 30, 
 ($ in millions) 2025 2024 2025 2024 
 Operational EBITA:     
 Electrification 1,919 1,713 1,033 887 
 Motion 767 731 407 388 
 Process Automation 545 516 290 263 
 Robotics & Discrete Automation 148 206 74 93 
 Corporate and Other     
 ‒ E-mobility (89) (141) (42) (87) 
 ‒ Corporate costs, Intersegment elimination and other  15 (44) (54) 20 
 Total 3,305 2,981 1,708 1,564 
 Acquisition-related amortization (95) (113) (50) (57) 
 Restructuring, related and implementation costs (1) (24) (76) (8) (50) 
 Changes in obligations related to divested businesses  3 11 2 11 
 Gains and losses from sale of businesses  12 (57) 1 (55) 
 Acquisition- and divestment-related expenses and integration costs  (31) (37) (22) (18) 
 Foreign exchange/commodity timing differences in income from operations:      
 Unrealized gains and losses on derivatives (foreign exchange,      
 commodities, embedded derivatives) 73 (44) (5) 33 
 Realized gains and losses on derivatives where the underlying hedged      
 transaction has not yet been realized (1) (1) (1) (2) 
 Unrealized foreign exchange movements on receivables/payables (and      
 related assets/liabilities) (46) 42 (17) – 
 Certain other non-operational items:     
 Other income/expense relating to the Power Grids joint venture  6 11 3 3 
 Business transformation costs(2) (88) (101) (44) (51) 
 Certain other fair value changes, including asset impairments  27 (19) 11 (5) 
 Other non-operational items (1) (4) (5) 3 
 Income from operations 3,140 2,593 1,573 1,376 
 Interest and dividend income 95 103 41 46 
 Interest and other finance expense (63) (50) (16) (13) 
 Non-operational pension (cost) credit 30 26 16 10 
 Income from continuing operations before taxes  3,202 2,672 1,614 1,419 
(1) Includes impairment of certain assets. 
(2) Amount includes ABB Way process transformation costs of $86 million and $99 million for the six months ended June 30, 2025 and 2024, respectively, and $43 million and 
$53 million for the three months ended June 30, 2025 and 2024, respectively. 
 Depreciation and amortization     
  Six months ended Three months ended 
  June 30, June 30, 
 ($ in millions) 2025 2024 2025 2024 
 Electrification 215 188 112 94 
 Motion 85 78 43 40 
 Process Automation 36 28 19 14 
 Robotics & Discrete Automation 44 72 22 35 
 Corporate and Other 29 37 17 19 
 Consolidated 409 403 213 202 
 
 Capital expenditures     
  Six months ended Three months ended  
  June 30, June 30, 
 ($ in millions) 2025 2024 2025 2024 
 Electrification 198 171 119 87 
 Motion 90 96 44 52 
 Process Automation 30 31 16 16 
 Robotics & Discrete Automation 54 38 35 17 
 Corporate and Other 47 30 10 13 
 Consolidated 419 366 224 185 
(1) Capital expenditures  are after intersegment eliminations and therefore reflect third -party assets only.

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

31 Q2 2025 FINANCIAL INFORMATION  
  Total assets(1) 
 ($ in millions) June 30, 2025 December 31, 2024 
 Electrification 14,974 13,089 
 Motion 7,254 6,870 
 Process Automation 5,582 5,308 
 Robotics & Discrete Automation 4,955 4,753 
 Corporate and Other 10,034 10,268 
 Consolidated 42,799 40,288 
(1) Total assets are after intersegment eliminations and therefore reflect third-party assets only.

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

32 Q2 2025 FINANCIAL INFORMATION

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

33 Q2 2025 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, 2025.  
 
Effective January  1, 2025, ABB changed its accounting policy related to the functional classification of its information system expenses  in the 
income statement . As a result, the consolidated financial statements for 2024 and 2023 have been retroactively restated to reflect this 
accounting policy change.  See Note 1 - The Company and basis of presentation  for details . 
 
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 is 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 2025 compared to Q2 2024 
  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  11% -2% 0% 9%  14% -2% -1% 11% 
 Motion 5% -2% 0% 3%  6% -2% 0% 4% 
 Process Automation 45% -5% 0% 40%  5% -3% 0% 2% 
 Robotics & Discrete Automation 6% -2% 0% 4%  -2% -3% 0% -5% 
 ABB Group 16% -2% 0% 14%  8% -2% 0% 6% 
 
 
  H1 2025 compared to H1 2024 
  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  5% 1% -1% 5%  9% 0% 0% 9% 
 Motion -1% 0% 0% -1%  3% 0% 0% 3% 
 Process Automation 33% -1% 0% 32%  4% 0% 0% 4% 
 Robotics & Discrete Automation 10% 1% 0% 11%  -8% 0% 0% -8% 
 ABB Group 9% 0% 0% 9%  5% 0% 0% 5%

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

34 Q2 2025 FINANCIAL INFORMATION  
Regional comparable growth rate reconciliation  
Regional comparable growth rate reconciliation  for ABB Group - Quarter 
  Q2 2025 compared to Q2 2024 
  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 12% -6% 0% 6%  7% -6% -1% 0% 
 The Americas 27% 0% 1% 28%  11% 0% 1% 12% 
 of which: United States 38% -2% 1% 37%  14% -1% 1% 14% 
 Asia, Middle East and Africa 7% 0% -1% 6%  7% -1% 0% 6% 
 of which: China 4% -1% -1% 2%  -2% -1% -2% -5% 
 ABB Group 16% -2% 0% 14%  8% -2% 0% 6% 
Regional comparable growth rate reconciliation  by Business Area - Quarter 
 
  Q2 2025 compared to Q2 2024 
  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 13% -7% 0% 6%  14% -6% 0% 8% 
 The Americas 9% 0% 1% 10%  15% 1% 0% 16% 
 of which: United States 13% 0% 0% 13%  19% 0% -1% 18% 
 Asia, Middle East and Africa 13% -1% -1% 11%  11% -1% -3% 7% 
 of which: China 4% -1% -3% 0%  0% 0% -7% -7% 
 Electrification 11% -2% 0% 9%  14% -2% -1% 11% 
  
  Q2 2025 compared to Q2 2024 
  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 1% -6% 0% -5%  7% -6% 0% 1% 
 The Americas 14% 0% 0% 14%  3% 0% 0% 3% 
 of which: United States 27% -1% 0% 26%  5% -1% 0% 4% 
 Asia, Middle East and Africa 0% 0% 0% 0%  7% 0% 0% 7% 
 of which: China 9% 0% 0% 9%  1% -1% 0% 0% 
 Motion 5% -2% 0% 3%  6% -2% 0% 4% 
  
  Q2 2025 compared to Q2 2024 
  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 20% -7% 0% 13%  11% -6% 0% 5% 
 The Americas 135% -4% 0% 131%  8% 0% 0% 8% 
 of which: United States 222% -12% 0% 210%  12% -1% 0% 11% 
 Asia, Middle East and Africa 10% -2% 0% 8%  -3% -2% 0% -5% 
 of which: China -1% 0% 0% -1%  -21% -1% 0% -22% 
 Process Automation 45% -5% 0% 40%  5% -3% 0% 2% 
  
  Q2 2025 compared to Q2 2024 
  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 26% -7% 0% 19%  -16% -5% 0% -21% 
 The Americas -31% 1% 0% -30%  10% 1% 0% 11% 
 of which: United States -37% 0% 0% -37%  10% 0% 0% 10% 
 Asia, Middle East and Africa 9% -1% 0% 8%  14% -1% 0% 13% 
 of which: China 3% 0% 0% 3%  7% 0% 0% 7% 
 Robotics & Discrete Automation 6% -2% 0% 4%  -2% -3% 0% -5%

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

35 Q2 2025 FINANCIAL INFORMATION  
Regional comparable growth rate reconciliation  for ABB Group – Year to date 
  H1 2025 compared to H1 2024 
  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% -2% 0% 3%  4% -2% 0% 2% 
 The Americas 18% 1% 0% 19%  8% 1% 1% 10% 
 of which: United States 23% 0% 0% 23%  10% 0% 1% 11% 
 Asia, Middle East and Africa 5% 1% -1% 5%  2% 0% 0% 2% 
 of which: China 8% 1% -1% 8%  -3% 0% -2% -5% 
 ABB Group 9% 0% 0% 9%  5% 0% 0% 5% 
Regional comparable growth rate reconciliation  by Business Area – Year to date 
 
  H1 2025 compared to H1 2024 
  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 2% -1% 0% 1%  7% -2% 0% 5% 
 The Americas 6% 2% 0% 8%  13% 1% 1% 15% 
 of which: United States 10% 0% 0% 10%  17% 0% -1% 16% 
 Asia, Middle East and Africa 7% 2% -1% 8%  4% 2% -2% 4% 
 of which: China 6% 0% -3% 3%  -1% 1% -5% -5% 
 Electrification 5% 1% -1% 5%  9% 0% 0% 9% 
  
  H1 2025 compared to H1 2024 
  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 -1% -1% 0% -2%  8% -2% 0% 6% 
 The Americas 10% 1% 0% 11%  2% 1% 0% 3% 
 of which: United States 18% -1% 0% 17%  3% 0% 0% 3% 
 Asia, Middle East and Africa -10% 0% 0% -10%  0% 1% 0% 1% 
 of which: China 8% 1% 0% 9%  -2% 0% 0% -2% 
 Motion -1% 0% 0% -1%  3% 0% 0% 3% 
  
  H1 2025 compared to H1 2024 
  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 13% -1% 0% 12%  17% -1% 0% 16% 
 The Americas 81% 0% 0% 81%  3% 1% 0% 4% 
 of which: United States 127% -6% 0% 121%  6% 0% 0% 6% 
 Asia, Middle East and Africa 22% -1% 0% 21%  -9% 0% 0% -9% 
 of which: China 28% 0% 0% 28%  -21% 0% 0% -21% 
 Process Automation 33% -1% 0% 32%  4% 0% 0% 4% 
  
  H1 2025 compared to H1 2024 
  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 17% -1% 0% 16%  -22% -1% 0% -23% 
 The Americas -9% 3% 0% -6%  -1% 3% 0% 2% 
 of which: United States -22% 0% 0% -22%  -4% 0% 0% -4% 
 Asia, Middle East and Africa 12% 2% 0% 14%  13% 1% 0% 14% 
 of which: China 4% 0% 0% 4%  8% 1% 0% 9% 
 Robotics & Discrete Automation 10% 1% 0% 11%  -8% 0% 0% -8%

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

36 Q2 2025 FINANCIAL INFORMATION  
Order backlog growth rate reconciliation 
  June 30, 2025 compared to June 30, 2024  
  US$ Foreign    
  (as exchange Portfolio   
 Business Area reported) impact changes Comparable  
 Electrification  15% -3% 0% 12%  
 Motion 8% -7% 0% 1%  
 Process Automation 25% -6% 0% 19%  
 Robotics & Discrete Automation -15% -4% 0% -19%  
 ABB Group 13% -5% 1% 9%  
 
 
Other growth rate reconciliations 
  Q2 2025 compared to Q2 2024 
  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  24% -2% -4% 18%  17% -2% -7% 8% 
 Motion 6% -2% 0% 4%  1% -2% 0% -1% 
 Process Automation 83% -7% 0% 76%  12% -3% 0% 9% 
 Robotics & Discrete Automation 1% -3% 0% -2%  -4% -3% 0% -7% 
 ABB Group 49% -4% -1% 44%  10% -3% -1% 6% 
 
 
  H1 2025 compared to H1 2024 
  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  21% 1% -6% 16%  13% 0% -6% 7% 
 Motion 10% 1% 0% 11%  -4% 0% 0% -4% 
 Process Automation 44% -2% 0% 42%  7% 0% 0% 7% 
 Robotics & Discrete Automation -2% 0% 0% -2%  -5% 0% 0% -5% 
 ABB Group 29% -1% -1% 27%  5% 0% -1% 4%

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

37 Q2 2025 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) 2025 2024 2025 2024 
 Operational EBITA 3,305 2,981 1,708 1,564 
 Acquisition-related amortization (95) (113) (50) (57) 
 Restructuring, related and implementation costs (1) (24) (76) (8) (50) 
 Changes in obligations related to divested businesses  3 11 2 11 
 Gains and losses from sale of businesses  12 (57) 1 (55) 
 Acquisition- and divestment-related expenses and integration costs  (31) (37) (22) (18) 
 Certain other non-operational items (56) (113) (35) (50) 
 Foreign exchange/commodity timing differences in income from operations  26 (3) (23) 31 
 Income from operations 3,140 2,593 1,573 1,376 
 Interest and dividend income 95 103 41 46 
 Interest and other finance expense (63) (50) (16) (13) 
 Non-operational pension (cost) credit 30 26 16 10 
 Income from continuing operations before taxes  3,202 2,672 1,614 1,419 
 Income tax expense (895) (654) (426) (315) 
 Income from continuing operations, net of tax  2,307 2,018 1,188 1,104 
 Loss from discontinued operations, net of tax  (8) (3) (7) (2) 
 Net income 2,299 2,015 1,181 1,102 
(1) Includes impairment of certain assets.

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

38 Q2 2025 FINANCIAL INFORMATION  
Reconciliation of Operational EBITA margin by business  
  Three months ended June 30, 2025 
      Corporate and  
     Robotics & Other and  
    Process Discrete Intersegment  
 ($ in millions, unless otherwise indicated) Electrification Motion Automation Automation elimination Consolidated 
 Total revenues 4,331 2,065 1,804 813 (113) 8,900 
 Foreign exchange/commodity timing       
 differences in total revenues:       
 Unrealized gains and losses       
 on derivatives (19) (7) 20 1 – (5) 
 Realized gains and losses on derivatives       
 where the underlying hedged       
 transaction has not yet been realized – (1) (1) 2 (1) (1) 
 Unrealized foreign exchange movements       
 on receivables (and related assets) 11 – (2) (3) 1 7 
 Operational revenues 4,323 2,057 1,821 813 (113) 8,901 
        
 Income (loss) from operations 990 393 273 67 (150) 1,573 
 Acquisition-related amortization 29 9 4 7 1 50 
 Restructuring, related and       
 implementation costs(1) 4 5 1 2 (4) 8 
 Changes in obligations related to       
 divested businesses – – – – (2) (2) 
 Gains and losses from sale of businesses (2) – – – 1 (1) 
 Acquisition- and divestment-related expenses       
 and integration costs 9 1 4 2 6 22 
 Certain other non-operational items 2 4 – (1) 30 35 
 Foreign exchange/commodity timing        
 differences in income from operations:        
 Unrealized gains and losses on derivatives        
 (foreign exchange, commodities,        
 embedded derivatives) (7) (8) 10 (4) 14 5 
 Realized gains and losses on derivatives       
 where the underlying hedged       
 transaction has not yet been realized – – – 2 (1) 1 
 Unrealized foreign exchange movements        
 on receivables/payables       
 (and related assets/liabilities) 8 3 (2) (1) 9 17 
 Operational EBITA 1,033 407 290 74 (96) 1,708 
        
 Operational EBITA margin (%) 23.9% 19.8% 15.9% 9.1% n.a. 19.2% 
(1) Includes impairment of certain assets.  
 
In the three months ended June 30, 2025, Certain other non-operational items in the table above includes the following:  
  Three months ended June 30, 2025 
     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) 
 Business transformation costs(1) – 3 – – 41 44 
 Certain other fair values changes,       
 including asset impairments – 1 – (1) (11) (11) 
 Other non-operational items 2 – – – 3 5 
 Total 2 4 – (1) 30 35 
(1) Amounts include ABB Way process transformation costs of $43  million for the three months ended June  30, 2025.

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

39 Q2 2025 FINANCIAL INFORMATION  
  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) 
 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) (2) (3) 
 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 53 =====

40 Q2 2025 FINANCIAL INFORMATION  
  Six months ended June 30, 2025 
      Corporate and  
     Robotics & Other and  
    Process Discrete Intersegment  
 ($ in millions, unless otherwise indicated) Electrification Motion Automation Automation elimination Consolidated 
 Total revenues 8,156 3,905 3,437 1,557 (220) 16,835 
 Foreign exchange/commodity timing       
 differences in total revenues:       
 Unrealized gains and losses       
 on derivatives (53) (16) (3) (1) (3) (76) 
 Realized gains and losses on derivatives       
 where the underlying hedged       
 transaction has not yet been realized (1) – (6) 2 (1) (6) 
 Unrealized foreign exchange movements       
 on receivables (and related assets) 41 5 7 5 4 62 
 Operational revenues 8,143 3,894 3,435 1,563 (220) 16,815 
        
 Income (loss) from operations 1,912 754 536 123 (185) 3,140 
 Acquisition-related amortization 55 18 8 14 – 95 
 Restructuring, related and       
 implementation costs(1) 10 7 3 7 (3) 24 
 Changes in obligations related to       
 divested businesses – – – – (3) (3) 
 Gains and losses from sale of businesses  (13) – – – 1 (12) 
 Acquisition- and divestment-related expenses        
 and integration costs 19 2 5 4 1 31 
 Certain other non-operational items (29) 10 (2) (1) 78 56 
 Foreign exchange/commodity timing        
 differences in income from operations:        
 Unrealized gains and losses on derivatives        
 (foreign exchange, commodities,        
 embedded derivatives) (64) (31) (9) (4) 35 (73) 
 Realized gains and losses on derivatives       
 where the underlying hedged       
 transaction has not yet been realized 1 1 (2) 2 (1) 1 
 Unrealized foreign exchange movements        
 on receivables/payables       
 (and related assets/liabilities) 28 6 6 3 3 46 
 Operational EBITA 1,919 767 545 148 (74) 3,305 
        
 Operational EBITA margin (%) 23.6% 19.7% 15.9% 9.5% n.a. 19.7% 
(1) Includes impairment of certain assets.  
 
In the six months ended June 30, 2025, Certain other non-operational items in the table above includes the following: 
  Six months ended June 30, 2025 
     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 – – – – (6) (6) 
 Business transformation costs(1) 1 5 – – 82 88 
 Certain other fair values changes,       
 including asset impairments (25) 4 (2) (1) (3) (27) 
 Other non-operational items (5) 1 – – 5 1 
 Total (29) 10 (2) (1) 78 56 
(1) Amounts include ABB Way process transformation costs of $86  million for the six months ended June  30, 2025.

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

41 Q2 2025 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 related to the       
 Power Grids joint venture – – – – (11) (11) 
 Business transformation costs 1 1 – – 99 101 
 Certain other fair values changes,       
 including asset impairments – 2 (4) – 21 19 
 Other non-operational items 1 – (1) (1) 5 4 
 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 55 =====

42 Q2 2025 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 and Marketable securities and short -term investments. 
Reconciliation 
 ($ in millions)  June 30, 2025 December 31, 2024 
 Short-term debt and current maturities of long -term debt  558 293 
 Long-term debt  8,255 6,652 
 Total debt  8,813 6,945 
 Cash and equivalents  3,266 4,326 
 Marketable securities and short-term investments  1,846 1,334 
 Cash and marketable securities  5,112 5,660 
 Net debt  3,701 1,285 
 
 
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, 2025 December 31, 2024 
 Total stockholders' equity 14,600 14,991 
 Net debt (as defined above) 3,701 1,285 
 Net debt / Equity ratio 0.25 0.09 
 
 
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, 2025 June 30, 2024 
 Income from operations for the three months ended:    
 September 30, 2024 / 2023 1,309 1,259 
 December 31, 2024 / 2023 1,169 1,116 
 March 31, 2025 / 2024 1,567 1,217 
 June 30, 2025 / 2024 1,573 1,376 
 Depreciation and Amortization for the three months ended:    
 September 30, 2024 / 2023 194 194 
 December 31, 2024 / 2023 205 199 
 March 31, 2025 / 2024 196 201 
 June 30, 2025 / 2024 213 202 
 EBITDA  6,426 5,764 
 Net debt (as defined above) 3,701 2,480 
 Net debt / EBITDA 0.6 0.4

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

43 Q2 2025 FINANCIAL INFORMATION  
Net working capital 
Definition  
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) pension 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. 
Reconciliation 
 ($ in millions, unless otherwise indicated) June 30, 2025 June 30, 2024 
 Net working capital:   
 Receivables, net 7,949 7,492 
 Contract assets 1,301 1,118 
 Inventories, net 6,396 6,166 
 Prepaid expenses 361 294 
 Accounts payable, trade (5,273) (5,118) 
 Contract liabilities (3,354) (2,973) 
 Other current liabilities(1) (3,613) (3,463) 
 Net working capital 3,767 3,516 
(1) Amounts exclude $1,069 million and $660 million at June  30, 2025 and 2024, 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 57 =====

44 Q2 2025 FINANCIAL INFORMATION  
Average trade net working capital as a percentage of revenues 
Definition  
Average trade net working capital as a percentage of revenues 
Average trade net working capital as a percentage of revenues is calculated as Average trade net working capital divided by T otal revenues for the 
trailing twelve months (being the total revenues recorded by ABB in the twelve months preceding the relevant balance sheet date).  
Average trade net working capital 
Average trade net working capital is calculated as the average of the opening and closing Trade net working capital for each of the four quarters during 
the trailing twelve-month period (4-quarter average) 
Trade net working capital 
Trade net working capital is the sum of (i)  trade receivables (comprised of trade accounts receivable net of related allowance, presented within 
Receivables, net, on the Consolidated Balance Sheets), (ii)  contract assets, and (iii) inventories, net; less (iv) accounts payable, trade, (v) contract 
liabilities and (vi) accrued expenses, operating (comprised of accruals related to customer rebates, unpaid interest and other general operating 
expenses; all of which are presented within Other current liabilities on the Consolidated Balance Sheets); and including the amounts related to these 
accounts which have been presented as either assets or liabilities held for sale.  
 
Reconciliation 
  June 30, March 31, December 31, September 30, June 30, 
 ($ in millions, unless otherwise indicated) 2025 2025 2024 2024 2024 
 Trade net working capital:      
 Trade receivables 7,320 6,887 6,816 6,821 6,898 
 Contract assets 1,301 1,210 1,115 1,236 1,118 
 Inventories, net 6,396 6,070 5,768 6,465 6,166 
 Accounts payable, trade (5,273) (5,032) (5,036) (5,167) (5,118) 
 Contract liabilities (3,354) (3,248) (2,969) (3,081) (2,973) 
 Accrued expenses, operating (1,286) (1,223) (1,266) (1,363) (1,266) 
 Trade net working capital in assets and liabilities held for sale – – – 20 – 
 Trade net working capital 5,104 4,664 4,428 4,931 4,825 
       
 Average of opening and closing Trade net working capital  4,884 4,546 4,680 4,878  
       
 Average trade net working capital 4,747     
       
 Total revenues for the three months ended:       
 September 30, 2024 8,151     
 December 31, 2024 8,590     
 March 31, 2025 7,935     
 June 30, 2025 8,900     
 Total revenues for the trailing twelve months  33,576     
 Average trade net working capital as a percentage of revenues 
(%) 
14.1%     
 
  June 30, March 31, December 31, September 30, June 30, 
 ($ in millions, unless otherwise indicated) 2024 2024 2023 2023 2023 
 Trade net working capital:      
 Trade receivables 6,898 6,790 6,822 6,863 6,786 
 Contract assets 1,118 1,135 1,090 1,073 1,010 
 Inventories, net 6,166 6,079 6,058 6,241 6,357 
 Accounts payable, trade (5,118) (5,018) (4,847) (4,777) (4,881) 
 Contract liabilities (2,973) (2,866) (2,844) (2,610) (2,394) 
 Accrued expenses, operating (1,266) (1,302) (1,445) (1,524) (1,341) 
 Trade net working capital in assets and liabilities held for sale  – – – – 143 
 Trade net working capital 4,825 4,818 4,834 5,266 5,680 
       
 Average of opening and closing Trade net working capital 4,822 4,826 5,050 5,473  
       
 Average trade net working capital 5,043     
       
 Total revenues for the three months ended:       
 September 30, 2023 7,968     
 December 31, 2023 8,245     
 March 31, 2024 7,870     
 June 30, 2024 8,239     
 Total revenues for the trailing twelve months  32,322     
 Average trade net working capital as a percentage of revenues 
(%) 
15.6%

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

45 Q2 2025 FINANCIAL INFORMATION  
Return on Capital employed (ROCE) 
In the first quarter of 2025, the Company modified its definition of Return on Capital employed (ROCE) to utilize a four -quarter average of Capital 
employed in place of a simple average of the annual period’s opening and closing Capital employed . The change to an averaging method allows for a 
comparable ratio that can be presented quarterly compared to our previous annual disclosure.  In addition, a fixed notional tax rate (subject to review for 
significant changes) is used. The new definition is provided below. 
 
Definition 
Return on Capital employed (ROCE) 
Return on Capital employed (ROCE) is calculated as Operational EBITA after tax for the trailing twelve months divided by the average of the opening and 
closing Capital employed for each of the four quarters during the trailing twelve -month period (4-quarter average). 
Capital employed 
Capital employed is calculated as the sum of Adjusted total fixed assets and Net working capital (as defined above). 
Adjusted total fixed assets 
Adjusted total fixed assets is the sum of (i)  property, plant and equipment, net, (ii) goodwill, (iii) other intangible assets, net, (iv) investments in 
equity-accounted companies, (v) operating lease right-of-use assets, and (vi) fixed assets included in assets held for sale, less (vii)  deferred tax liabilities 
recognized in certain acquisitions. 
Notional tax on Operational EBITA 
The Notional tax on Operational EBITA is computed using a  consistent notional tax rate, approximately representative of the Company’s weighted -
average global tax rate, multiplied by Operational EBITA. The notional tax rate is subject to adjustment for significant changes in the Company’s 
weighted-average global tax rate. 
 
Reconciliation 
  June 30, March 31, December 31, September 30, June 30, 
 ($ in millions, unless otherwise indicated) 2025 2025 2024 2024 2024 
 Adjusted total fixed assets:      
 Property, plant and equipment, net 4,618 4,301 4,177 4,248 4,095 
 Goodwill 11,352 11,088 10,555 10,582 10,525 
 Other intangible assets, net 1,192 1,183 1,048 1,036 1,089 
 Investments in equity-accounted companies 388 377 368 185 189 
 Operating lease right-of-use assets 849 861 840 873 861 
 Fixed assets included in assets held for sale – – – 176 – 
 Total fixed assets 18,399 17,810 16,988 17,100 16,759 
 Less: Deferred taxes recognized in certain acquisitions (1) (220) (231) (242) (253) (265) 
 Adjusted total fixed assets 18,179 17,579 16,746 16,847 16,494 
 Net working capital - (as defined above) 3,767 3,371 2,739 3,512 3,516 
 Capital employed 21,946 20,950 19,485 20,359 20,010 
       
 Average of opening and closing Capital employed  21,448 20,218 19,922 20,185  
       
 Operational EBITA for the three months ended  1,708 1,597 1,434 1,553  
       
 Operational EBITA for the trailing twelve months 6,292     
 Notional tax on Operational EBITA (1,573)     
 Operational EBITA after tax for the trailing twelve months  4,719     
       
 Average Capital employed (4 quarters) 20,443     
       
 Return on Capital Employed (ROCE) 23.1%     
(1) Amount relates to GEIS acquired in 2018, B&R acquired in 2017, Thomas & Betts acquired in 2012 and Baldor acquired in 2011.

===== SIDA 59 =====

46 Q2 2025 FINANCIAL INFORMATION  
  June 30, March 31, December 31, September 30, June 30, 
 ($ in millions, unless otherwise indicated) 2024 2024 2023 2023 2023 
 Adjusted total fixed assets:      
 Property, plant and equipment, net 4,095 4,047 4,142 3,891 3,923 
 Goodwill 10,525 10,494 10,561 10,356 10,420 
 Other intangible assets, net 1,089 1,128 1,223 1,181 1,257 
 Investments in equity-accounted companies 189 178 187 186 154 
 Operating lease right-of-use assets 861 863 893 850 852 
 Fixed assets included in assets held for sale – – – – 293 
 Total fixed assets 16,759 16,710 17,006 16,464 16,899 
 Less: Deferred taxes recognized in certain acquisitions (1) (265) (281) (297) (312) (328) 
 Adjusted total fixed assets 16,494 16,429 16,709 16,152 16,571 
 Net working capital - (as defined above) 3,516 3,497 3,166 3,950 4,494 
 Capital employed 20,010 19,926 19,875 20,102 21,065 
       
 Average of opening and closing Capital employed  19,968 19,901 19,989 20,584  
       
 Operational EBITA for the three months ended  1,564 1,417 1,333 1,392  
       
 Operational EBITA for the trailing twelve months 5,706     
 Notional tax on Operational EBITA (1,427)     
 Operational EBITA after tax for the trailing twelve months  4,279     
       
 Average Capital employed (4 quarters) 20,110     
       
 Return on Capital Employed (ROCE) 21.3%     
(1) Amount relates to GEIS acquired in 2018, B&R acquired in 2017, Thomas & Betts acquired in 2012 and Baldor acquired in 2011.

===== SIDA 60 =====

47 Q2 2025 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) 2025 2024 2025 2024 
 Net cash provided by operating activities 1,743 1,793 1,059 1,067 
 Adjusted for the effects of operations:     
 Purchases of property, plant and equipment and intangible assets  (419) (366) (224) (185) 
 Proceeds from sale of property, plant and equipment  173 42 10 36 
 Free cash flow 1,497 1,469 845 918 
 
 
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, 2025 December 31, 2024 
 Net cash provided by operating activities 4,625 4,675 
 Adjusted for the effects of operations:   
 Purchases of property, plant and equipment and intangible assets (898) (845) 
 Proceeds from sale of property, plant and equipment  238 107 
 Free cash flow 3,965 3,937 
 Adjusted net income attributable to ABB (1) 4,164 3,949 
 Free cash flow conversion to net income 95% 100% 
(1) Adjusted net income attributable to ABB for the year ended December 31, 2024, is adjusted to exclude the fair value adjustment of $88 million on assets and liabilities held 
for sale related to In-Charge, the net gain on the sale of a business within the Electrification Business Area of $64 million and adjustments to the gain on sale of Power 
Grids of $10 million. 
 
Reconciliation of the trailing twelve months to June  30, 2025  
 ($ 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 2024  1,345 (196) 24 1,026 
 Q4 2024  1,537 (283) 41 922 
 Q1 2025  684 (195) 163 1,065 
 Q2 2025  1,059 (224) 10 1,151 
 Total for the trailing twelve      
 months to June 30, 2025  4,625 (898) 238 4,164 
(1) Adjusted net income attributable to ABB for  Q3 2024 is adjusted to exclude the fair value adjustment of $89  million on assets and liabilities held for sale related 
to In-Charge and adjustments to the gain on sale of Power Grids of $10  million; Q4 2024 is adjusted to exclude the net gain on the sale of a business within the 
Electrification Business Area of $64  million and a decrease in the fair value adjustment  relating to In -Charge of $1  million and Q1 2025 is adjusted to exclude 
$37 million of gains arising on sale of certain investments and intangibles assets.

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48 Q2 2025 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) 2025 2024 2025 2024 
 Interest and dividend income 95 103 41 46 
 Interest and other finance expense (63) (50) (16) (13) 
 Net finance income (expense) 32 53 25 33 
 
 
 
Book-to-bill ratio 
Definition  
Book-to-bill ratio is calculated as Orders received divided by Total revenues. 
Reconciliation 
  Six months ended June 30, 
  2025 2024 
 ($ in millions, except Book-to-bill presented as a ratio) Orders Revenues Book-to-bill Orders Revenues Book-to-bill 
 Electrification 8,912 8,156 1.09 8,465 7,489 1.13 
 Motion 4,268 3,905 1.09 4,317 3,780 1.14 
 Process Automation 4,644 3,437 1.35 3,499 3,318 1.05 
 Robotics & Discrete Automation 1,528 1,557 0.98 1,389 1,697 0.82 
 Corporate and Other (incl. intersegment eliminations) (354) (220) n.a. (261) (175) n.a. 
 ABB Group 18,998 16,835 1.13 17,409 16,109 1.08 
        
 
  Three months ended June 30, 
  2025 2024 
 ($ in millions, except Book-to-bill presented as a ratio) Orders Revenues Book-to-bill Orders Revenues Book-to-bill 
 Electrification 4,518 4,331 1.04 4,073 3,809 1.07 
 Motion 2,112 2,065 1.02 2,014 1,951 1.03 
 Process Automation 2,620 1,804 1.45 1,802 1,717 1.05 
 Robotics & Discrete Automation 729 813 0.90 688 833 0.83 
 Corporate and Other (incl. intersegment eliminations) (194) (113) n.a. (142) (71) n.a. 
 ABB Group 9,785 8,900 1.10 8,435 8,239 1.02