Abb Ltd Q2 2026 results

Let's talk through the building blocks that resulted in another record quarter for both orders and revenues, good earnings growth, a solid margin improvement, and good cash flow. You have heard me talk about the teams being active on a good target pipeline. Now we see these efforts result in three recently announced acquisition, which combined would add approximately 3.5% to our 2025 revenues. Their acquisition of the marine automation specialist, Høglund, is a nice complement to our existing offering.

Last year, they generated revenues of GBP 777 million and a high adjusted operating margin of 24.6%. Absorbing this into the ABB result for 2025, our revenues would increase by about 3%, and Operational EBITA margin would improve by about 20 basis points. This acquisition would be accretive to our earnings per share in year two, as the first year is burdened by certain acquisition-related costs. In 2025 multiple terms, an EV-to-sales of about 5.3x and EV-to-EBITDA of about 19.5x.

In the combined setup, the business area operational EBITDA margin would have been 15.2%, 120 basis points higher than reported 2025 actuals. The very strong comparable increase of 28% is driven by a broad and good activity across most of our customer segments. Notably, the Automation business area even tempered overall order growth for the group. Speaking of strong markets, we had surging order growth of 58% in Electrification and a very strong 20% in Motion.