Kvartalsrapport Q3 2025

46 Q3 2025 FINANCIAL INFORMATION  
  September 30, June 30, March 31, December 31, September 30, 
 ($ in millions, unless otherwise indicated) 2024 2024 2024 2023 2023 
 Adjusted total fixed assets:      
 Property, plant and equipment, net 4,248 4,095 4,047 4,142 3,891 
 Goodwill 10,582 10,525 10,494 10,561 10,356 
 Other intangible assets, net 1,036 1,089 1,128 1,223 1,181 
 Investments in equity-accounted companies 185 189 178 187 186 
 Operating lease right-of-use assets 873 861 863 893 850 
 Fixed assets included in assets held for sale 176 – – – – 
 Total fixed assets 17,100 16,759 16,710 17,006 16,464 
 Less: Deferred taxes recognized in certain acquisitions (1) (253) (265) (281) (297) (312) 
 Adjusted total fixed assets 16,847 16,494 16,429 16,709 16,152 
 Net working capital - (as defined above) 3,512 3,516 3,497 3,166 3,950 
 Capital employed 20,359 20,010 19,926 19,875 20,102 
       
 Average of opening and closing Capital employed  20,185 19,968 19,901 19,989  
       
 Operational EBITA for the three months ended  1,553 1,564 1,417 1,333  
       
 Operational EBITA for the trailing twelve months  5,867     
 Notional tax on Operational EBITA (1,467)     
 Operational EBITA after tax for the trailing twelve months  4,400     
       
 Average Capital employed (4 quarters) 20,010     
       
 Return on Capital Employed (ROCE) 22.0%     
(1) Amount relates to GEIS acquired in 2018, B&R acquired in 2017, Thomas & Betts acquired in 2012 and Baldor acquired in 2011.

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47 Q3 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 
  Nine months ended September 30, Three months ended 
September 30,  ($ in millions, unless otherwise indicated) 2025 2024 2025 2024 
 Net cash provided by operating activities 3,520 3,138 1,777 1,345 
 Adjusted for the effects of operations:     
 Purchases of property, plant and equipment and intangible assets  (648) (562) (229) (196) 
 Proceeds from sale of property, plant and equipment  177 66 4 24 
 Free cash flow 3,049 2,642 1,552 1,173 
 
 
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) September 30, 2025 December 31, 2024 
 Net cash provided by operating activities 5,057 4,675 
 Adjusted for the effects of operations:   
 Purchases of property, plant and equipment and intangible assets  (931) (845) 
 Proceeds from sale of property, plant and equipment  218 107 
 Free cash flow 4,344 3,937 
 Adjusted net income attributable to ABB (1) 4,317 3,949 
 Free cash flow conversion to net income 101% 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 September  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) 
 Q4 2024  1,537 (283) 41 922 
 Q1 2025  684 (195) 163 1,065 
 Q2 2025  1,059 (224) 10 1,151 
 Q3 2025  1,777 (229) 4 1,179 
 Total for the trailing twelve      
 months to September 30, 2025  5,057 (931) 218 4,317 
(1) Adjusted net income attributable to ABB for  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; Q1  2025 is adjusted to exclude $37  million of gains arising on sale of 
certain investments and intangibles assets and Q3 2025 is adjusted to exclude adjustments to the gain on sale of Power Grids of $13 million and $16  million of gains 
arising on sale of certain intangible assets.

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48 Q3 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 
  Nine months ended September 30, Three months ended September 30, 
 ($ in millions) 2025 2024 2025 2024 
 Interest and dividend income 142 146 47 43 
 Interest and other finance expense (97) (91) (34) (41) 
 Net finance income (expense) 45 55 13 2 
 
 
 
Book-to-bill ratio 
Definition  
Book-to-bill ratio is calculated as Orders received divided by Total revenues. 
Reconciliation 
  Nine months ended September 30, 
  2025 2024 
 ($ in millions, except Book-to-bill presented as a ratio) Orders Revenues Book-to-bill Orders Revenues Book-to-bill 
 Electrification 13,434 12,655 1.06 12,514 11,402 1.10 
 Motion 6,430 5,987 1.07 6,123 5,749 1.07 
 Process Automation 6,540 5,238 1.25 5,283 4,961 1.06 
 Robotics & Discrete Automation 2,272 2,364 0.96 2,029 2,444 0.83 
 Corporate and Other (incl. intersegment eliminations) (535) (326) n.a. (347) (296) n.a. 
 ABB Group 28,141 25,918 1.09 25,602 24,260 1.06 
        
 
  Three months ended September 30, 
  2025 2024 
 ($ in millions, except Book-to-bill presented as a ratio) Orders Revenues Book-to-bill Orders Revenues Book-to-bill 
 Electrification 4,522 4,499 1.01 4,049 3,913 1.03 
 Motion 2,162 2,082 1.04 1,806 1,969 0.92 
 Process Automation 1,896 1,801 1.05 1,784 1,643 1.09 
 Robotics & Discrete Automation 744 807 0.92 640 747 0.86 
 Corporate and Other (incl. intersegment eliminations) (181) (106) n.a. (86) (121) n.a. 
 ABB Group 9,143 9,083 1.01 8,193 8,151 1.01

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ABB Ltd 
Corporate Communications 
P.O. Box 8131 
8050 Zurich  
Switzerland  
Tel: +41 (0)43 317 71 11 
 
www.abb.com