Investor information

ABB Ltd share price trend during 2011

During 2011, the price of ABB Ltd shares listed on the SIX Swiss Exchange decreased 15 percent, while the Swiss Performance Index decreased 8 percent. The price of ABB Ltd shares on NASDAQ OMX Stockholm decreased 15 percent, compared to the OMX 30 Index, which decreased 15 percent. The price of ABB Ltd American Depositary Shares traded on the New York Stock Exchange decreased 16 percent compared to the Dow Jones Industrial Index, which increased by 6 percent.

Source: Bloomberg

Share price (data based on closing prices)

(XLS:)

 

SIX Swiss Exchange
(CHF)

NASDAQ OMX
Stockholm
(SEK)

New York
Stock Exchange
(US$)

(1)

Figure includes ADS trading volumes on the NYSE and alternative trading platforms.

Source: Bloomberg

High

23.88

170.20

27.49

Low

15.00

112.40

16.42

Year-end

17.68

129.50

18.83

Average daily traded number of shares

8,360,000

2,360,000

3,130,000(1)

Market capitalization

On December 31, 2011, ABB Ltd’s market capitalization based on outstanding shares (total number of outstanding shares: 2,290,411,120) was approximately CHF 40.5 billion ($43 billion, SEK 297.9 billion).

Shareholder structure

As of December 31, 2011, the total number of shareholders directly registered with ABB Ltd was approximately 187,000. In addition, another 268,000 shareholders hold shares indirectly through nominees. In total, ABB has approximately 455,000 shareholders.

Major shareholders

As of December 31, 2011, Investor AB, Stockholm, Sweden, owned 179,030,142 shares of ABB Ltd, corresponding to 7.7 percent of total capital and votes of ABB Ltd as registered in the Commercial Register on December 31, 2011. As of July 25, 2011, BlackRock Inc., New York, U.S.A., owned 69,702,100 shares of ABB Ltd, corresponding to 3.0 percent of total capital and votes of ABB Ltd as registered in the Commercial Register on December 31, 2011. To the best of ABB’s knowledge, no other shareholder held 3 percent or more of the total voting rights as of December 31, 2011.

Dividend proposal

ABB’s Board of Directors has proposed a dividend for 2011 of CHF 0.65 per share, compared to CHF 0.60 per share in the prior year. Translated into U.S. dollars using year-end 2011 exchange rate, the dividend corresponds to approximately 50 percent of ABB’s 2011 net income. The proposal is in line with the Company’s dividend policy to pay a steadily rising but sustainable dividend over time. As it did in 2011, the Board proposes that the dividend be paid from ABB Ltd’s capital contribution reserve, a form of payment that would be exempt from Swiss withholding tax.

If approved by shareholders at the company’s Annual General Meeting on April 26, 2012, the ex-dividend date would be April 30, 2012, for shares traded on the SIX Swiss Exchange and NASDAQ OMX Stockholm and May 1, 2012, for American Depositary Shares traded on the New York Stock Exchange. The respective dividend payout dates would be May 4, 2012 in Switzerland, May 8, 2012 in Sweden, and May 11, 2012 in the United States.

Key data

(XLS:)

 

2011

2010

2009

(1)

Proposed by the Board of Directors and subject to approval by shareholders at the Annual General Meeting on April 26, 2012, in Zurich, Switzerland

(2)

Calculation based on dilutive weighted-average number of shares outstanding

(3)

Calculation based on the number of shares outstanding as of December 31

(4)

Dividend per share (converted to U.S. dollars at year-end exchange rates) divided by basic earnings per share

Dividend per share (CHF)

0.65(1)

0.60

0.51

Par value per share (CHF)

1.03

1.03

1.54

Votes per share

1

1

1

Earnings per share (USD)(2)

1.38

1.12

1.27

Total ABB stockholders’ equity per share (USD)(3)

6.89

6.52

6.02

Cash flow from operations per share (USD)(2)

1.58

1.83

1.76

Dividend pay out ratio (%)(4)

50%

57%

39%

Weighted-average number of shares outstanding (in millions)

2,288

2,287

2,284

Dilutive weighted-average number of shares outstanding (in millions)

2,291

2,291

2,288

ABB Ltd Annual General Meeting

The 2012 Annual General Meeting of ABB Ltd will be held at 10:00 a.m. on Thursday, April 26, 2012, at the Messe Zurich hall in Zurich-Oerlikon, Switzerland. The Annual General Meeting will be held principally in German and will be simultaneously translated into English and French. Shareholders entered in the share register, with the right to vote, by April 18, 2012, are entitled to participate in the Annual General Meeting.

Admission cards

Holders of registered shares of ABB Ltd will receive their admission cards on request using the reply form enclosed with the invitation. The reply form or a corresponding notification must reach the company no later than April 20, 2012. For technical reasons, notifications arriving after that date can no longer be taken into consideration. The full text of the invitation in accordance with Article 700 of the Swiss Code of Obligations will be published in the Schweizerisches Handelsamtsblatt of April 2, 2012.

For shareholders in Sweden an Information Meeting will be held in Västerås, Sweden, on April 27, 2012, at 10:00 a.m.

ABB shareholders’ calendar 2012

(XLS:)

First quarter 2012 results

April 25

ABB Ltd Annual General Meeting, Zurich

April 26

ABB Ltd Information Meeting, Västerås

April 27

Second quarter 2012 results

July 26

Third quarter 2012 results

October 25

Stock exchange listings

ABB Ltd is listed on the SIX Swiss Exchange, NASDAQ OMX Stockholm and the New York Stock Exchange.

The global ISIN code for the ABB share

CH 001 222 171 6

 

Ticker symbols for ABB Ltd

SIX Swiss Exchange
NASDAQ OMX Stockholm
New York Stock Exchange (NYSE)

ABBN
ABB
ABB

Ticker symbols for ABB Ltd at Bloomberg

SIX Swiss Exchange
NASDAQ OMX Stockholm
New York Stock Exchange (NYSE)

ABBN VX
ABB SS
ABB US

Ticker symbols for ABB Ltd at Reuters

SIX Swiss Exchange
NASDAQ OMX Stockholm
New York Stock Exchange (NYSE)

ABBN.VX
ABB.ST
ABB.N

Credit rating for ABB Ltd as of February 29, 2012

Standard & Poor’s

Long-term corporate credit rating
Long-term senior unsecured debt
Short-term corporate credit rating
Outlook: Stable

A
A
A–1

Moody’s

Long-term senior unsecured rating
Short-term debt rating
Outlook: Stable

A2
Prime-1*

*ABB Ltd’s financing subsidiaries retain a Prime-2 rating.

These credit ratings are subject to revision at any time. ABB does not have any other agreements with internationally recognized statistical rating organizations to provide long-term and short-term credit ratings.

2011–2015 Financial targets and definitions

ABB has published financial targets for the period 2011 to 2015, which are available at www.abb.com/investorcenter. These comprise compound annual growth rates for revenues and earnings per share, as well as free cash flow as a percentage of net income, cash return on invested capital and operational EBITDA margin.

Free cash flow is calculated as net cash provided by operating activities adjusted for i) changes in financing and other non-current receivables, net, ii) purchases of property, plant and equipment and intangible assets, and iii) proceeds from sales of property, plant and equipment.

Cash return on invested capital is calculated as the sum of i) net cash provided by operating activities and ii) interest paid; divided by the sum of i) fixed assets, ii) net working capital and iii) accumulated amortization and depreciation. Fixed assets is the sum of i) property, plant and equipment, net, ii) goodwill, iii) other intangible assets, net, and iv) investments in equity method companies. Net working capital is the sum of i) receivables, net, ii) inventories, net, and iii) prepaid expenses; less the sum of i) accounts payable, trade, ii) billings in excess of sales, iii) employee and other payables, iv) advances from customers, and v) accrued expenses.

Operational EBITDA and operational EBITDA margin is calculated as follows:

(XLS:)

 

Year ended Dec. 31

 

2011

EBIT as per financial statements

4,667

adjusted for the effects of:

 

Unrealized gains and losses on derivatives (FX, commodities, embedded derivatives)

158

Realized gains and losses on derivatives where the underlying hedged transaction has not yet been realized

32

Unrealized foreign exchange movements on receivables/payables (and related assets/liabilities)

(109)

Restructuring and restructuring-related expenses

164

Acquisition-related expenses and certain non-recurring items

107

Depreciation and amortization

995

Operational EBITDA

6,014

 

 

Revenues as per financial statements

37,990

adjusted for the effects of:

 

Unrealized gains and losses on derivatives

188

Realized gains and losses on derivatives where the underlying hedged transaction has not yet been realized

33

Unrealized foreign exchange movements on receivables (and related assets)

(123)

Operational Revenues

38,088

 

 

Operational EBITDA Margin (= Operational EBITDA as % of Operational Revenues)

15.8%

Bondholder information

Outstanding public bonds, as of February 29, 2012, are listed in the table below.

(XLS:)

 

Original issued
principal amount

Coupon

Due

Bloomberg
ticker

Reuters ticker

ABB Ltd

CHF 350 million

1.50%

2018

ABB 1.5
11/23/18

CH0146696528=R

ABB Ltd

CHF 500 million

1.25%

2016

ABB 1.25
10/11/16

CH0139264961=R

ABB Ltd

CHF 350 million

2.25%

2021

ABB 2.25
10/11/21

CH0139265000=R

ABB International
Finance Ltd

EUR 700 million

4.625%

2013

ABB 4.625
06/06/13

CH025291581=RRPS

ABB Treasury Center
(USA), Inc.

USD 600 million

2.50%

2016

ABB 2.5
06/15/16

144A: 00038AAA1=
RegS: USU00292AA73=R

ABB Treasury Center
(USA), Inc.

USD 650 million

4.00%

2021

ABB 4
06/15/21

144A: 00038AAB9=
RegS: USU00292AB56=R

2011 price trend for ABB Ltd shares

Zurich
Price trend for ABB Ltd shares, Zurich (line chart)
Stockholm
Price trend for ABB Ltd shares, Stockholm (line chart)
New York
Price trend for ABB Ltd shares, New York (line chart)

Source: Bloomberg

Financial review

© Copyright 2012 ABB.