UPDATE: ABB posts profit growth, sees added potential via Rotork buy

(AWP Alliance News) - ABB Ltd on Thursday said it will acquire Rotork PLC, alongside posting profit growth in its second quarter.

The Zurich-based electrical engineering firm reported attributable net income of USD1.23 billion in the second quarter, up 7% from USD1.15 billion a year earlier.

Revenue advanced 14% to USD9.48 billion from USD8.30 billion the previous year, as orders grew 30% to USD12.04 billion from USD9.25 billion. Basic earnings per share rose 8% to USD0.68 from USD0.63 on-year.

Looking to the full year, ABB expects comparable revenue growth in the low double-digit teens and an improved margin for operational earnings before interest, tax, depreciation and amortisation. In the third quarter, it sees comparable revenue growth in the low to mid-teens.

Chief Executive Morten Wierod commented: "Our second quarter results reflect high demand in the majority of our customer segments, strong execution and solid cash flow. In my view, we show great overall progress and I want to acknowledge the commitment from the ABB

team."

He continued: "Q2 reflects the strength of ABB's performance and position at the core of Electrification and automation megatrends. With the acquisition of Rotork, we expect to create further value by expanding our automation portfolio."

ABB is buying the Bath, England-based provider of flow control solutions for 506 pence in cash for Rotork, valuing the firm at GBP4.14 billion on a fully diluted basis. The deal values Bath, England-based flow control solutions provider Rotork at GBP4.08 billion on an enterprise basis.

Rotork will operate as a separate division in ABB's Automation business. It is expected to add 3% to ABB's group revenue, 12% for the Automation division alone.

In 2025, Rotork achieved pretax profit of GBP157.9 million on revenue of GBP777.3 million. ABB's annual revenue totalled USD33.22 billion, USD8.08 billion from Automation alone.

ABB estimated that, combining its revenue with Rotork's in 2025, the overall result would have been about USD34.2 billion.

This comes hot on the heels of another acquisition which ABB had announced on Wednesday. It is buying Advantics, a French provider of silicon carbide-based power conversion solutions. Financial details of that deal were not disclosed.

ABB shares closed 2.7% lower at CHF83.13 on Wednesday in Zurich. Rotork closed 0.8% higher at 290.80 pence per share in London.

By Holly Munks, Alliance News reporter

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