ABB –2.7%: delivered a mixed first-half result, with solid operational momentum offset by softer headline profit and one-off items, while management narrowed full-year EBITDA guidance toward the midpoint.
- 1H revenue $637.8m, +8.4% YoY, modestly ahead of expectations
- Underlying EBITDA $74.7m, +14% YoY, slightly below consensus
- Statutory NPAT $5.1m, -58% YoY, impacted by a $14.8m goodwill impairment
- Interim dividend 2.4c declared
- Double-digit revenue growth across all three segments, with improved underlying EBITDA margins
This was not a clean headline result, but the core growth narrative remains intact. With guidance tightened, connectivity growth holding up, and higher-value segments scaling, ABB appears well positioned – execution on migrations, M&A integration and margin delivery will be key near-term swing factors.
MM remains long & bullish ABB ~$5.00
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