UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN

PRIVATE

ISSUER PURSUANT

TO RULE 13a

-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2023

Commission File Number 001-16429

ABB Ltd

(Translation of registrant’s name into English)

Affolternstrasse 44, CH-8050, Zurich,

Switzerland

(Address of principal executive

office)

Indicate by check mark

whether the registrant files or will file annual reports

under cover of Form 20-F or Form 40-

Form 20-F

☒

Form 40-F

⬜

Indicate by check mark

if the registrant is submitting the Form 6-K in paper

as permitted by Regulation S-T Rule

101(b)(1):

⬜

Note:

Regulation S-T Rule 101(b)(1) only permits the

submission in paper of a Form 6-K if

submitted solely to provide an attached

annual report to security holders.

Indication by check mark if the registrant

is submitting the Form 6-K in paper

as permitted by Regulation S-T Rule 101(b)(7):

⬜

Note:

Regulation S-T Rule 101(b)(7) only permits the

submission in paper of a Form 6-K if

submitted to furnish a report or other

document that the registrant foreign private

issuer must furnish and make

public under the laws of the

jurisdiction in which the

registrant is incorporated, domiciled

or legally organized (the registrant’s “home country”),

or under the rules of the home country

exchange on which the registrant’s securities are

traded, as long as the report or other

document is not a press release, is not required

to be and has not been distributed to the

registrant’s security holders, and, if discussing a material

event, has already been the subject

of a Form 6-K submission or other

Commission filing on EDGAR.

Indicate by check mark

whether the registrant by furnishing the information contained

in this Form is also thereby furnishing

the

information to the Commission pursuant

to Rule 12g3-2(b) under the Securities Exchange

Act of 1934.

Yes

⬜

☒

If “Yes” is marked, indicate below the file number assigned to the registrant

in connection with Rule 12g3-2(b):

82-

This Form 6-K consists of the following:

Press release issued by ABB Ltd dated October

30, 2023, titled “ABB appoints Mathias Gaertner

as General Counsel

2and Company Secretary”.

Q3 2023 Financial Information.

Securities and Exchange Commission.

—

ZURICH, SWITZERLAND, OCTOBER

30, 2023

ABB appoints Mathias

Gaertner

General Counsel

and Company

~~Q3 2023 results~~ Secretary

ABB announced today that Mathias Gaertner

has been appointed General Counsel

and Company Secretary

and a Member of the Executive Committee.

He will join ABB in

2024 and succeed Natalia Shehadeh,

who

has held the position of General Counsel

and Company Secretary ad interim

since June 1, 2023, and who in

the future will focus on her role

as Chief Integrity Officer of ABB. Natalia will

remain in her ad interim

position

~~delivery~~until Mathias has joined ABB.

German national, Mathias has a strong

track record of managing international

M&A transactions, litigations,

IP and compliance. He is currently Head

Legal & Compliance of global

construction materials company

Holcim and has been a member of its

Group Executive Committee since

2021. Prior to that, he spent

10 years at Honeywell Building Technologies, most recently

as General Counsel, playing an instrumental

role in the business’ growth. He has

also worked for law firms Skadden,

Arps, Slate, Meagher

& Flom LLP

and Affiliates and Baker & McKenzie. Mathias

studied at the University

of Münster, Germany, where he

obtained his PhD, and is admitted to the

German bar.

ABB CEO Björn Rosengren said: “After

a thorough selection process we

are delighted to appoint

a general

counsel with extensive experience in

decentralized organizations.

We look forward to Mathias further

strengthening the capabilities of our

legal teams and building on our

strong culture of integrity. I would like to

take this opportunity to also thank

Natalia for her valuable contribution

while stepping in

ad interim and wish

her all the best for when she returns to

her role as ABB’s Chief Integrity Officer.”

●ABB

is a technology leader in electrification

and automation, enabling a more sustainable

and

resource-efficient future. The company’s solutions

connect engineering know-how

and software to optimize

how things are manufactured, moved,

powered and operated.

Building on more than 140 years of

excellence, ABB’s ~105,000 employees

are committed to driving innovations

that accelerate industrial

1transformation. www.abb.com

●1/1

●

—

For more information please

contact:

Q3 2023

First nine months

Press Release

—

Björn Rosengren

, CEO

KEY FIGURES

CHANGE

($ millions, unless otherwise indicated)

Q3 2023

Q3 2022

US$

Comparable

9M 2023

9M 2022

US$

Comparable

Orders

8,052

8,188

-2%

26,169

26,368

-1%

Revenues

7,968

7,406

11%

23,990

21,622

11%

16%

Gross Profit

2,762

2,481

11%

8,366

7,052

19%

as % of revenues

34.7%

33.5%

+1.2 pts

34.9%

32.6%

+2.3 pts

Income from operations

1,259

708

78%

3,755

2,152

74%

Operational EBITA

1,392

1,231

13%

11%

4,094

3,364

22%

17.4%

16.6%

+0.8 pts

17.0%

15.5%

+1.5 pts

905

420

115%

2,902

1,469

98%

882

360

145%

2,824

1,343

110%

0.48

0.19

149%

1.52

0.70

116%

1,351

791

71%

2,393

600

299%

EPS growth rates are computed using unrounded amounts.

Constant currency (not adjusted for portfolio changes).

China.

larger orders booked.

world.

open in late 2026.

model.

Björn Rosengren

CEO

In the

fourth quarter of 2023

In full-year 2023

Outlook

CEO summary

lead times.

segments.

was executed.

Revenues by region

($ in millions,

unless otherwise

indicated)

CHANGE

Q3 2023

Q3 2022

US$

Comparable

Europe

2,810

2,494

13%

10%

The Americas

2,775

2,452

13%

16%

Asia, Middle East

and Africa

2,383

2,460

-3%

ABB Group

7,968

7,406

11%

Orders by region

($ in millions,

unless otherwise

indicated)

CHANGE

Q3 2023

Q3 2022

US$

Comparable

Europe

2,391

2,682

-11%

-13%

The Americas

3,258

2,980

13%

Asia, Middle East

and Africa

2,403

2,526

-5%

ABB Group

8,052

8,188

-2%

Growth

Change year-on-year

Orders

Revenues

Comparable

11%

Portfolio changes

-4%

Total

-2%

Gross profit

Income from operations

620 basis points year-on-year.

Net finance expenses

Income tax

26.5%.

Operational EBITA

($ millions)

Q3 2023

Q3 2022

Corporate and Other

E-mobility

(39)

(4)

Corporate costs, intersegment

eliminations and other

(70)

(52)

Total

(109)

(56)

Majority of which relates to underlying corporate

Earnings

Net working capital

of revenues

Capital expenditures

Net debt

Cash flows

Share buyback program

held in treasury, amounts to 1,882,002,575.

Sep. 30

2023

Sep. 30

2022

Dec. 31

2022

Long-term debt

Total debt

Cash & equivalents

short-term investments

–

Net debt (cash)*

Balance sheet & Cash flow

Orders and revenues

●

Profit

●

CHANGE

($ millions, unless otherwise indicated)

Q3 2023

Q3 2022

US$

Comparable

9M 2023

9M 2022

US$

Comparable

Orders

3,693

3,772

-2%

11,794

11,797

Order backlog

6,994

6,317

11%

16%

6,994

6,317

11%

16%

Revenues

3,561

3,471

10,886

10,121

11%

Operational EBITA

748

651

15%

2,212

1,768

25%

20.8%

18.7%

+2.1 pts

20.3%

17.4%

+2.9 pts

1,051

715

47%

2,143

1,258

70%

No. of employees (FTE equiv.)

50,500

Growth

Orders

Revenues

Comparable

Portfolio changes

-3%

-4%

Total

-2%

—

Electrification

Orders and revenues

comparable).

●

motors.

●

labor and raw materials.

●

production.

●

Growth

Change year-on-year

Orders

Revenues

Comparable

-7%

11%

Portfolio changes

Total

-4%

14%

—

Motion

CHANGE

($ millions, unless otherwise indicated)

Q3 2023

Q3 2022

US$

Comparable

9M 2023

9M 2022

US$

Comparable

Orders

1,886

1,966

-4%

-7%

6,285

6,247

Order backlog

5,108

4,613

11%

5,108

4,613

11%

Revenues

1,947

1,702

14%

11%

5,868

4,900

20%

Operational EBITA

390

305

28%

1,157

845

37%

19.8%

17.8%

+2 pts

19.7%

17.2%

+2.5 pts

466

268

74%

935

507

84%

No. of employees (FTE equiv.)

22,100

20,700

Orders and revenues

(comparable 38%) year-on-year.

●

period.

●

transportation.

●

impact.

Profit

change.

●

propulsion business.

CHANGE

($ millions, unless otherwise indicated)

Q3 2023

Q3 2022

US$

Comparable

9M 2023

9M 2022

US$

Comparable

Orders

1,883

1,568

20%

38%

5,665

5,079

12%

31%

Order backlog

7,135

6,006

19%

20%

7,135

6,006

19%

20%

Revenues

1,554

1,458

23%

4,543

4,493

19%

Operational EBITA

226

225

670

645

14.6%

15.3%

-0.7 pts

14.7%

14.2%

+0.5 pts

258

217

19%

558

470

19%

No. of employees (FTE equiv.)

20,900

22,400

-6%

Growth

Orders

Revenues

Comparable

38%

23%

Portfolio changes

-20%

-17%

Total

20%

—

Process Automation

Orders and revenues

●

the second half of 2024.

●

Profit

●

CHANGE

($ millions, unless otherwise indicated)

Q3 2023

Q3 2022

US$

Comparable

9M 2023

9M 2022

US$

Comparable

Orders

665

901

-26%

-27%

2,516

3,318

-24%

-22%

Order backlog

2,363

2,659

-11%

-14%

2,363

2,659

-11%

-14%

Revenues

929

828

12%

2,788

2,290

22%

23%

Operational EBITA

137

106

29%

418

215

94%

14.7%

12.8%

+1.9 pts

15.0%

9.4%

+5.6 pts

12%

266

109

144%

No. of employees (FTE equiv.)

11,000

10,700

Growth

Orders

Revenues

Comparable

-27%

Portfolio changes

Total

-26%

12%

—

Robotics & Discrete Automation

Quarterly highlights

●

nautical miles.

●

use of regenerative braking.

●

across.

Q3 outcome

●

34% reduction year-on-year of CO

₂

e emissions in own

our operations.

●

towards our target.

—

Sustainability

Q3 2023

Q3 2022

CHANGE

12M ROLLING

₂

Ktons scope 1 and 2

-34%

182

0.15

0.14

0.13

positions, %

20.4

17.4

+3 pts

19.4

₂

₆

During Q3 2023

●

2020.

first nine months last year.

Significant events

First nine months 2023

Divestments

Company/unit

Closing date

Revenues, $ million

No. of employees

2023

Electrification

3-Jul

~440

1,500

Electrification

3-Jul

~12

Process Automation

1-May

~20

160

2022

28-Dec

Acquisitions

Company/unit

Closing date

Revenues, $ million

No. of employees

2023

Electrification

Eve Systems

1-Jun

~20

Motion

2-May

~60

600

2022

Motion

1-Dec

~60

300

ABB Group

Q1 2022

Q2 2022

Q3 2022

Q4 2022

FY 2022

Q1 2023

Q2 2023

Q3 2023

EBITDA, $ in million

1,067

794

906

1,384

4,151

1,389

1,494

1,453

n.a.

16.50

n.a.

Net debt/Equity

0.20

0.34

0.21

0.30

0.31

0.21

0.4

0.7

0.9

0.8

0.5

12.1%

12.8%

11.7%

11.1%

13.9%

14.7%

12.8%

0.31

0.20

0.19

0.61

1.30

0.56

0.49

0.48

0.31

0.20

0.19

0.60

1.30

0.55

0.48

0.47

n.a.

0.84

n.a.

29.12

24.57

24.90

28.06

31.37

35.18

32.80

30.76

25.43

24.41

30.46

34.30

39.32

35.86

104,720

106,380

106,830

105,130

106,170

108,320

107,430

millions)

1,929

1,892

1,875

1,865

1,862

1,860

1,849

Additional figures

Additional 2023 guidance

FY 2023

Net finance expenses

~(100)

from ~(130)

~21%

unchanged

Capital Expenditures

~(800)

unchanged

FY 2023

Q4 2023

~(300)

~(75)

unchanged

Non-operating items

Acquisition-related amortization

~(220)

~(55)

unchanged

Restructuring and related

~(180)

~(40)

from ~(150)

ABB Way transformation

~(180)

~(55)

unchanged

Excludes Operational EBITA from E-mobility business.

significant non-operational items.

Acquisitions and divestments, last twelve months

For additional information please contact:

Media Relations

Phone: +41 43 317 71 11

Email: media.relations@ch.abb.com

media.relations@ch.abb.com

Investor Relations

Phone: +41 43 317 71 11

Email: investor.relations@ch.abb.com

investor.relations@ch.abb.com

ABB Ltd

Affolternstrasse 44

8050 Zurich

Switzerland

Financial calendar

2023

2024

February 1

Q4 and FY 2023 results

March 21

statements

ABB’s website.

Important notice about forward-looking information

Q3 results presentation on October 18, 2023

ABB

Q3 2023 FINANCIAL INFORMATION

Q3 2023

Financial information

Q3 2023 FINANCIAL INFORMATION

—

Financial

Information

Contents

08 ─

34 ─

Q3 2023 FINANCIAL INFORMATION

—

Key Figures

CHANGE

($ in millions, unless otherwise indicated)

Q3 2023

Q3 2022

US$

Comparable

(1)

Orders

8,052

8,188

-2%

21,445

19,393

11%

Revenues

7,968

7,406

11%

Gross Profit

2,762

2,481

11%

as % of revenues

34.7%

33.5%

+1.2 pts

Income from operations

1,259

708

78%

Operational EBITA

(1)

1,392

1,231

13%

11%

(2)

(1)

17.4%

16.6%

+0.8 pts

905

420

115%

882

360

145%

0.48

0.19

149%

(3)

(4)

1,351

791

71%

1,361

793

72%

CHANGE

($ in millions, unless otherwise indicated)

9M 2023

9M 2022

US$

Comparable

(1)

Orders

26,169

26,368

-1%

Revenues

23,990

21,622

11%

16%

Gross Profit

8,366

7,052

19%

as % of revenues

34.9%

32.6%

+2.3 pts

Income from operations

3,755

2,152

74%

Operational EBITA

(1)

4,094

3,364

22%

(2)

(1)

17.0%

15.5%

+1.5 pts

2,902

1,469

98%

2,824

1,343

110%

1.52

0.70

116%

(3)

(4)

2,393

600

299%

2,404

614

n.a.

Supplemental Reconciliations and Definitions

” on page 34.

Q3 2023 FINANCIAL INFORMATION

CHANGE

($ in millions, unless otherwise indicated)

Q3 2023

Q3 2022

US$

Local

Comparable

ABB Group

8,052

8,188

-2%

Electrification

3,693

3,772

-2%

Motion

1,886

1,966

-4%

-5%

-7%

Process Automation

1,883

1,568

20%

18%

38%

665

901

-26%

-27%

135

147

Intersegment eliminations

(210)

(166)

ABB Group

21,445

19,393

11%

Electrification

6,994

6,317

11%

16%

Motion

5,108

4,613

11%

Process Automation

7,135

6,006

19%

16%

20%

2,363

2,659

-11%

-14%

(incl. intersegment eliminations)

(155)

(202)

ABB Group

7,968

7,406

11%

Electrification

3,561

3,471

Motion

1,947

1,702

14%

13%

11%

Process Automation

1,554

1,458

23%

929

828

12%

194

141

Intersegment eliminations

(217)

(194)

Income from operations

ABB Group

1,259

708

Electrification

762

616

Motion

365

291

Process Automation

218

154

113

Corporate and Other

(incl. intersegment eliminations)

(199)

(434)

ABB Group

15.8%

9.6%

Electrification

21.4%

17.7%

Motion

18.7%

17.1%

Process Automation

14.0%

10.6%

12.2%

9.8%

Operational EBITA

ABB Group

1,392

1,231

13%

11%

Electrification

748

651

15%

14%

Motion

390

305

28%

25%

Process Automation

226

225

137

106

29%

27%

Corporate and Other

(1)

(incl. intersegment eliminations)

(109)

(56)

ABB Group

17.4%

16.6%

Electrification

20.8%

18.7%

Motion

19.8%

17.8%

Process Automation

14.6%

15.3%

14.7%

12.8%

ABB Group

1,351

791

Electrification

1,051

715

Motion

466

268

Process Automation

258

217

(incl. intersegment eliminations)

(506)

(489)

(10)

(2)

(1)

Q3 2023 FINANCIAL INFORMATION

CHANGE

($ in millions, unless otherwise indicated)

9M 2023

9M 2022

US$

Local

Comparable

ABB Group

26,169

26,368

-1%

Electrification

11,794

11,797

Motion

6,285

6,247

Process Automation

5,665

5,079

12%

14%

31%

2,516

3,318

-24%

-22%

Corporate and Other

595

530

Intersegment eliminations

(686)

(603)

ABB Group

21,445

19,393

11%

Electrification

6,994

6,317

11%

16%

Motion

5,108

4,613

11%

Process Automation

7,135

6,006

19%

16%

20%

2,363

2,659

-11%

-14%

Corporate and Other

(incl. intersegment eliminations)

(155)

(202)

ABB Group

23,990

21,622

11%

13%

16%

Electrification

10,886

10,121

10%

11%

Motion

5,868

4,900

20%

22%

20%

Process Automation

4,543

4,493

19%

2,788

2,290

22%

23%

Corporate and Other

540

395

Intersegment eliminations

(635)

(577)

Income from operations

ABB Group

3,755

2,152

Electrification

2,130

1,571

Motion

1,098

776

Process Automation

688

480

347

146

Corporate and Other

(incl. intersegment eliminations)

(508)

(821)

ABB Group

15.7%

10.0%

Electrification

19.6%

15.5%

Motion

18.7%

15.8%

Process Automation

15.1%

10.7%

12.4%

6.4%

Operational EBITA

ABB Group

4,094

3,364

22%

Electrification

2,212

1,768

25%

27%

Motion

1,157

845

37%

38%

Process Automation

670

645

418

215

94%

98%

Corporate and Other

(1)

(incl. intersegment eliminations)

(363)

(109)

ABB Group

17.0%

15.5%

Electrification

20.3%

17.4%

Motion

19.7%

17.2%

Process Automation

14.7%

14.2%

15.0%

9.4%

ABB Group

2,393

600

Electrification

2,143

1,258

Motion

935

507

Process Automation

558

470

266

109

Corporate and Other

(incl. intersegment eliminations)

(1,498)

(1,730)

(11)

(14)

(1)

Q3 2023 FINANCIAL INFORMATION

Operational EBITA

Process

Robotics & Discrete

ABB

Electrification

Motion

Automation

Q3 23

Q3 22

Q3 23

Q3 22

Q3 23

Q3 22

Q3 23

Q3 22

Q3 23

Q3 22

Revenues

7,968

7,406

3,561

3,471

1,947

1,702

1,554

1,458

929

828

(7)

(1)

Operational revenues

8,019

7,429

3,593

3,474

1,970

1,711

1,547

1,472

931

827

Income from operations

1,259

708

762

616

365

291

218

154

113

Acquisition-related amortization

implementation costs

(1)

–

divested businesses

–

(71)

–

(71)

(1)

–

(4)

381

–

(6)

(2)

–

(2)

Operational EBITA

1,392

1,231

748

651

390

305

226

225

137

106

17.4%

16.6%

20.8%

18.7%

19.8%

17.8%

14.6%

15.3%

14.7%

12.8%

Process

Robotics & Discrete

ABB

Electrification

Motion

Automation

9M 23

9M 22

9M 23

9M 22

9M 23

9M 22

9M 23

9M 22

9M 23

9M 22

Revenues

23,990

21,622

10,886

10,121

5,868

4,900

4,543

4,493

2,788

2,290

Operational revenues

24,015

21,712

10,898

10,132

5,880

4,908

4,546

4,538

2,790

2,295

Income from operations

3,755

2,152

2,130

1,571

1,098

776

688

480

347

146

Acquisition-related amortization

164

174

implementation costs

(1)

300

–

divested businesses

(5)

(17)

–

(97)

(71)

(1)

–

(26)

–

171

(3)

122

480

–

100

–

(3)

Operational EBITA

4,094

3,364

2,212

1,768

1,157

845

670

645

418

215

17.0%

15.5%

20.3%

17.4%

19.7%

17.2%

14.7%

14.2%

15.0%

9.4%

Q3 2023 FINANCIAL INFORMATION

Depreciation and Amortization

Process

Robotics & Discrete

ABB

Electrification

Motion

Automation

($ in millions)

Q3 23

Q3 22

Q3 23

Q3 22

Q3 23

Q3 22

Q3 23

Q3 22

Q3 23

Q3 22

Depreciation

130

129

Amortization

Process

ABB

Electrification

Motion

Automation

($ in millions)

9M 23

9M 22

9M 23

9M 22

9M 23

9M 22

9M 23

9M 22

9M 23

9M 22

Depreciation

384

401

190

191

Amortization

197

214

164

174

($ in millions, unless otherwise indicated)

Orders received

CHANGE

Revenues

CHANGE

Com-

Q3 23

Q3 22

US$

Local

parable

Q3 23

Q3 22

US$

Local

parable

Europe

2,391

2,682

-11%

-16%

-13%

2,810

2,494

13%

10%

The Americas

3,258

2,980

13%

2,775

2,452

13%

12%

16%

2,479

2,294

13%

2,067

1,796

15%

19%

2,403

2,526

-5%

2,383

2,460

-3%

of which China

1,044

1,166

-10%

-5%

-3%

1,075

1,300

-17%

-13%

-10%

ABB Group

8,052

8,188

-2%

7,968

7,406

11%

($ in millions, unless otherwise indicated)

Orders received

CHANGE

Revenues

CHANGE

Com-

9M 23

9M 22

US$

Local

parable

9M 23

9M 22

US$

Local

parable

Europe

8,904

9,174

-3%

8,617

7,520

15%

14%

17%

The Americas

9,452

8,927

8,243

7,018

17%

20%

6,928

6,753

6,143

5,124

20%

23%

7,813

8,267

-5%

7,130

7,084

12%

of which China

3,593

4,114

-13%

-7%

-5%

3,404

3,563

-4%

ABB Group

26,169

26,368

-1%

23,990

21,622

11%

13%

16%

Q3 2023 FINANCIAL INFORMATION

—

Consolidated Financial Information

Nine months ended

Three months ended

($ in millions, except per share data in $)

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Sales of products

20,210

17,946

6,680

6,184

3,780

3,676

1,288

1,222

Total revenues

23,990

21,622

7,968

7,406

(13,393)

(12,439)

(4,447)

(4,217)

(2,231)

(2,131)

(759)

(708)

(15,624)

(14,570)

(5,206)

(4,925)

Gross profit

8,366

7,052

2,762

2,481

(4,058)

(3,833)

(1,331)

(1,277)

(951)

(844)

(314)

(272)

398

(223)

142

(224)

Income from operations

3,755

2,152

1,259

708

115

(197)

(107)

(73)

(45)

102

3,696

2,197

1,231

714

Income tax expense

(794)

(728)

(326)

(294)

2,902

1,469

905

420

(16)

(36)

(7)

(16)

Net income

2,886

1,433

898

404

(62)

(90)

(16)

(44)

2,824

1,343

882

360

2,840

1,379

889

376

(16)

(36)

(7)

(16)

Net income

2,824

1,343

882

360

1.53

0.72

0.48

0.20

(0.01)

(0.02)

0.00

(0.01)

Net income

1.52

0.70

0.48

0.19

1.52

0.72

0.48

0.20

(0.01)

(0.02)

0.00

(0.01)

Net income

1.51

0.70

0.47

0.19

1,859

1,909

1,854

1,882

1,871

1,920

1,865

1,889

Q3 2023 FINANCIAL INFORMATION

—

Income (unaudited)

Nine months ended

Three months ended

($ in millions)

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

2,729

775

815

(54)

(58)

(11)

(32)

2,675

717

804

Q3 2023 FINANCIAL INFORMATION

—

($ in millions)

Sep. 30, 2023

Dec. 31, 2022

Cash and equivalents

3,869

4,156

Restricted cash

1,091

725

7,586

6,858

Contract assets

1,073

954

Inventories, net

6,332

6,028

Prepaid expenses

280

230

Other current assets

527

505

20,836

19,570

3,891

3,911

850

841

186

130

969

916

1,181

1,406

Goodwill

10,356

10,511

Deferred taxes

1,366

1,396

Other non-current assets

464

467

Total assets

40,099

39,148

4,777

4,904

Contract liabilities

2,610

2,216

2,951

2,535

234

220

Provisions for warranties

1,108

1,028

Other provisions

1,114

1,171

Other current liabilities

4,597

4,323

132

17,470

16,529

Long-term debt

4,899

5,143

643

651

642

719

Deferred taxes

675

729

Other non-current liabilities

1,908

2,085

Total liabilities

26,256

25,876

Commitments and contingencies

Stockholders’ equity:

163

171

Additional paid-in capital

141

Retained earnings

18,840

20,082

(4,705)

(4,556)

(1,111)

(3,061)

Total ABB stockholders’ equity

13,206

12,777

Noncontrolling interests

548

410

13,754

13,187

40,099

39,148

Q3 2023 FINANCIAL INFORMATION

—

Nine months ended

Three months ended

($ in millions)

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Operating activities:

Net income

2,886

1,433

898

404

581

615

194

198

(28)

(39)

(4)

(24)

(67)

(107)

(55)

(24)

Deferred taxes

(42)

(183)

(79)

(35)

100

(44)

(33)

(39)

(64)

(6)

(9)

(97)

(71)

–

Other

115

(2)

(819)

(657)

(152)

(36)

243

353

164

101

Inventories, net

(438)

(1,667)

(584)

(37)

390

(35)

177

Accrued liabilities

140

342

307

Provisions, net

106

312

186

(9)

(74)

(88)

(18)

2,404

614

1,361

793

(11)

(14)

(10)

(2)

2,393

600

1,351

791

Investing activities:

(1,103)

(271)

(343)

(15)

(506)

(503)

(175)

(165)

(160)

(226)

(25)

(47)

598

654

422

148

138

–

552

(8)

509

(76)

(154)

(58)

(210)

Other investing activities

(10)

–

(473)

(422)

347

(256)

(22)

(91)

(1)

–

(495)

(513)

346

(256)

Financing activities:

(997)

1,475

(962)

284

Increase in debt

2,584

3,554

936

373

(1,437)

(2,025)

(309)

(542)

Delivery of shares

118

389

(909)

(3,251)

(433)

(590)

Dividends paid

(1,713)

(1,698)

–

(89)

(83)

(6)

(7)

328

–

(58)

(5)

(2,111)

(1,697)

(748)

(468)

–

(2,111)

(1,697)

(748)

(468)

(74)

(191)

(32)

(115)

–

(287)

(1,801)

945

(48)

4,174

4,489

2,942

2,736

3,887

2,688

3,887

2,688

Interest paid

151

Income taxes paid

865

907

338

269

Q3 2023 FINANCIAL INFORMATION

—

($ in millions)

Common

stock

Additional

paid-in

capital

Retained

earnings

Accumulated

other

comprehensive

loss

Treasury

stock

stockholders’

equity

Non-

controlling

interests

Total

stockholders’

equity

178

22,477

(4,088)

(3,010)

15,579

378

15,957

Net income

(1)

1,343

1,436

(774)

(32)

(806)

available-for-sale securities,

net of tax of $(6)

(24)

postretirement plans,

net of tax of $57

172

and hedges, net of tax of $3

–

(3)

(22)

(25)

Dividends to

noncontrolling shareholders

–

(81)

Dividends to shareholders

(1,700)

(8)

(4)

(2,864)

2,876

–

(3,201)

Delivery of shares

(46)

(130)

565

389

Other

171

19,127

(4,715)

(2,770)

11,822

336

12,158

171

141

20,082

(4,556)

(3,061)

12,777

410

13,187

Net income

(1)

2,824

2,889

(177)

(8)

(185)

available-for-sale securities,

net of tax of $1

postretirement plans,

net of tax of $8

and hedges, net of tax of $0

170

168

338

noncontrolling interests

(7)

(2)

Dividends to

noncontrolling shareholders

–

(93)

Dividends to shareholders

(1,706)

(7)

(201)

(2,359)

2,567

–

(898)

Delivery of shares

(163)

281

118

Other

(4)

163

18,840

(4,705)

(1,111)

13,206

548

13,754

(1)

Q3 2023 FINANCIAL INFORMATION

—

─

Note 1

operated.

●

instruments,

●

divestments.

Basis of presentation

Q3 2023 FINANCIAL INFORMATION

─

Note 2

Recent accounting pronouncements

─

Note 3

of tax.

Q3 2023 FINANCIAL INFORMATION

─

Note 4

Three months ended September 30,

2023

2022

2023

2022

(1)

115

150

(2)

205

Business divestments

Three months ended September 30,

($ in millions)

2023

2022

2023

2022

(11)

(34)

(4)

(24)

–

(66)

–

(14)

(11)

(100)

(4)

(38)

Q3 2023 FINANCIAL INFORMATION

─

Note 5

September 30, 2023

Cash and

Marketable

Gross

equivalents

securities

unrealized

and restricted

and short-term

($ in millions)

Cost basis

gains

losses

Fair value

cash

investments

recorded in net income

Cash

1,425

Time deposits

2,709

2,462

247

Equity securities

620

644

4,754

–

4,778

3,887

891

U.S. government obligations

200

(13)

188

212

(13)

200

–

200

Total

4,966

(13)

4,978

3,887

1,091

Restricted cash, current

December 31, 2022

Cash and

Marketable

Gross

equivalents

securities

unrealized

and restricted

and short-term

($ in millions)

Cost basis

gains

losses

Fair value

cash

investments

recorded in net income

Cash

1,715

Time deposits

2,459

Equity securities

345

355

4,519

–

4,529

4,174

355

U.S. government obligations

269

(15)

255

Other government obligations

Corporate

(7)

391

(22)

370

–

370

Total

4,910

(22)

4,899

4,174

725

Of which:

Restricted cash, current

Q3 2023 FINANCIAL INFORMATION

─

Note 6

Derivative financial instruments

activities.

Commodity risk

Equity risk

outstanding WARs.

Type of derivative

Total notional amounts at

($ in millions)

September 30, 2023

December 31, 2022

September 30, 2022

13,090

13,509

15,501

1,291

933

864

849

855

781

Interest rate contracts

1,751

2,830

2,598

Unit

Total notional amounts at

September 30, 2023

December 31, 2022

September 30, 2022

Copper swaps

metric tonnes

32,223

29,281

36,264

Silver swaps

ounces

1,702,359

2,012,213

2,787,909

Steel swaps

metric tonnes

11,476

–

Aluminum swaps

metric tonnes

5,800

6,825

6,925

Equity derivatives

Fair value hedges

Q3 2023 FINANCIAL INFORMATION

Three months ended September 30,

($ in millions)

2023

2022

2023

2022

Interest rate contracts

(83)

(28)

Hedged item

(31)

(13)

(125)

(3)

(31)

Hedged item

119

hedged transaction.

Three months ended September 30,

($ in millions)

Location

2023

2022

2023

2022

Total revenues

(13)

(201)

(18)

(82)

(20)

(8)

SG&A expenses

(1)

(4)

and development

(3)

(16)

(139)

(85)

Total revenues

(6)

contracts

–

(12)

(10)

Commodity contracts

(7)

(72)

(21)

Other

–

Total

(314)

(154)

September 30, 2023

Derivative assets

Derivative liabilities

Current in

Non-current in

Current in

Non-current in

“Other current

“Other non-current

“Other current

“Other non-current

($ in millions)

assets”

liabilities”

–

Interest rate contracts

–

304

Cash-settled call options

–

Total

–

305

179

Commodity contracts

–

Interest rate contracts

–

Other equity contracts

–

Total

218

125

227

161

325

Q3 2023 FINANCIAL INFORMATION

December 31, 2022

Derivative assets

Derivative liabilities

Current in

Non-current in

Current in

Non-current in

“Other current

“Other non-current

“Other current

“Other non-current

($ in millions)

assets”

liabilities”

–

Interest rate contracts

–

288

Cash-settled call options

–

Total

–

349

140

Commodity contracts

–

Interest rate contracts

–

Total

169

112

184

121

367

($ in millions)

September 30, 2023

Gross amount

Derivative liabilities

Cash

Non-cash

of recognized

eligible for set-off

collateral

Net asset

similar arrangement

assets

in case of default

received

exposure

Derivatives

218

(70)

–

148

Total

218

(70)

–

148

($ in millions)

September 30, 2023

Gross amount

Derivative liabilities

Cash

Non-cash

eligible for set-off

collateral

Net liability

similar arrangement

liabilities

in case of default

pledged

exposure

Derivatives

460

(70)

–

390

Total

460

(70)

–

390

($ in millions)

December 31, 2022

Gross amount

Derivative liabilities

Cash

Non-cash

eligible for set-off

collateral

Net asset

similar arrangement

in case of default

received

exposure

Derivatives

194

(96)

–

Total

194

(96)

–

($ in millions)

December 31, 2022

Gross amount

Derivative liabilities

Cash

Non-cash

eligible for set-off

collateral

Net liability

similar arrangement

liabilities

pledged

exposure

Derivatives

458

(96)

–

362

Total

458

(96)

–

362

Q3 2023 FINANCIAL INFORMATION

─

Note 7

Fair values

Level 1:

‑

Level 2:

Level 3:

September 30, 2023

($ in millions)

Level 1

Level 2

Level 3

Assets

Equity securities

–

644

–

644

188

–

188

–

227

–

227

–

Total

200

898

–

1,098

Liabilities

–

161

–

161

–

325

–

325

Total

–

486

–

486

Q3 2023 FINANCIAL INFORMATION

December 31, 2022

($ in millions)

Level 1

Level 2

Level 3

Assets

Equity securities

–

355

–

355

255

–

255

–

Debt securities—Corporate

–

184

–

184

–

Total

255

681

–

936

Liabilities

–

121

–

121

–

367

–

367

Total

–

488

–

488

●

September 30, 2023

($ in millions)

Carrying value

Level 1

Level 2

Level 3

Assets

Cash

1,407

–

1,407

Time deposits

2,462

–

2,462

–

2,462

Restricted cash

–

(excluding securities):

Time deposits

247

–

247

–

247

Liabilities

2,923

2,380

543

–

2,923

4,768

4,618

–

4,631

December 31, 2022

($ in millions)

Carrying value

Level 1

Level 2

Level 3

Assets

Cash

1,697

–

1,697

Time deposits

2,459

–

2,459

–

2,459

Restricted cash

–

Liabilities

2,500

1,068

1,432

–

2,500

4,976

4,813

–

4,843

Q3 2023 FINANCIAL INFORMATION

●

─

Note 8

Contract assets and liabilities

($ in millions)

September 30, 2023

December 31, 2022

September 30, 2022

Contract assets

1,073

954

955

Contract liabilities

2,610

2,216

2,115

2023

2022

Contract

($ in millions)

assets

liabilities

assets

liabilities

(1,230)

(923)

1,602

1,320

(553)

(501)

Q3 2023 FINANCIAL INFORMATION

─

Note 9

Debt

($ in millions)

September 30, 2023

December 31, 2022

Short-term debt

568

1,448

2,383

1,087

Total

2,951

2,535

Long-term debt

September 30, 2023

December 31, 2022

(in millions)

Nominal outstanding

(1)

Nominal outstanding

(1)

Bonds:

EUR

700

742

0% CHF Bonds, due 2023

CHF

275

298

EUR

700

729

EUR

700

720

EUR

500

531

EUR

500

536

EUR

750

777

EUR

750

769

CHF

280

307

CHF

280

303

CHF

150

164

CHF

150

162

1.965% CHF Bonds, due 2026

CHF

325

356

EUR

500

527

CHF

425

466

CHF

425

460

3.8% USD Notes, due 2028

(2)

USD

383

382

USD

383

381

1.9775% CHF Bonds, due 2028

CHF

150

165

CHF

170

186

CHF

170

184

EUR

800

670

EUR

800

677

2.375% CHF Bonds, due 2030

CHF

150

164

CHF

150

162

EUR

750

783

2.1125% CHF Bonds, due 2033

CHF

275

301

(2)

USD

609

590

USD

609

590

Total

7,098

5,984

Q3 2023 FINANCIAL INFORMATION

─

Note 10

Regulatory

General

Liabilities recognized

and “Other non

‑

General

($ in millions)

September 30, 2023

December 31, 2022

3,358

4,300

Financial guarantees

Total

(1)

3,450

4,396

Commercial commitments

and 2022.

Q3 2023 FINANCIAL INFORMATION

($ in millions)

2023

2022

1,028

1,005

(132)

(122)

228

173

Exchange rate differences

(16)

(94)

1,108

962

─

Note 11

Income taxes

─

Note 12

Employee benefits

($ in millions)

Other postretirement

Switzerland

International

benefits

2023

2022

2023

2022

2023

2022

Service cost

–

Interest cost

122

(94)

(87)

(116)

(113)

–

(6)

(5)

(2)

(1)

–

(3)

(2)

–

(16)

–

(65)

(90)

(10)

(19)

(2)

(36)

(50)

(19)

(2)

($ in millions)

Other postretirement

Switzerland

International

benefits

Three months ended September 30,

2023

2022

2023

2022

2023

2022

Service cost

–

Interest cost

–

(31)

(29)

(42)

(36)

–

(2)

(1)

–

(1)

–

(16)

–

(22)

(29)

(5)

(17)

–

(12)

(16)

(17)

–

Q3 2023 FINANCIAL INFORMATION

statement.

($ in millions)

Other postretirement

Switzerland

International

benefits

2023

2022

2023

2022

2023

2022

–

($ in millions)

Other postretirement

Switzerland

International

benefits

Three months ended September 30,

2023

2022

2023

2022

2023

2022

pension plans

–

─

Note 13

Stockholder's equity

in April.

Incentive Plan.

Q3 2023 FINANCIAL INFORMATION

─

Note 14

Earnings per share

Basic earnings per share

Three months ended September 30,

($ in millions, except per share data in $)

2023

2022

2023

2022

2,840

1,379

889

376

(16)

(36)

(7)

(16)

Net income

2,824

1,343

882

360

1,859

1,909

1,854

1,882

1.53

0.72

0.48

0.20

(0.01)

(0.02)

0.00

(0.01)

Net income

1.52

0.70

0.48

0.19

Three months ended September 30,

($ in millions, except per share data in $)

2023

2022

2023

2022

2,840

1,379

889

376

(16)

(36)

(7)

(16)

Net income

2,824

1,343

882

360

1,859

1,909

1,854

1,882

Call options and shares

1,871

1,920

1,865

1,889

1.52

0.72

0.48

0.20

(0.01)

(0.02)

0.00

(0.01)

Net income

1.51

0.70

0.47

0.19

Q3 2023 FINANCIAL INFORMATION

─

Note 15

Unrealized gains

Pension and

Foreign currency

(losses) on

other

Derivative

translation

available-for-sale

postretirement

instruments

($ in millions)

adjustments

securities

plan adjustments

and hedges

Total OCI

(2,993)

(1,089)

(8)

(4,088)

before reclassifications

(811)

(25)

148

(15)

(703)

(806)

(24)

172

–

(658)

Less:

(32)

–

(32)

(1)

(3,767)

(22)

(917)

(8)

(4,715)

Unrealized gains

Pension and

Foreign currency

(losses) on

other

Derivative

translation

available-for-sale

postretirement

instruments

($ in millions)

adjustments

securities

plan adjustments

and hedges

Total OCI

(3,691)

(19)

(838)

(8)

(4,556)

before reclassifications

(194)

–

(9)

(5)

(208)

(185)

(157)

Less:

(8)

–

(8)

(3,868)

(13)

(819)

(5)

(4,705)

adjustments:

Nine months ended

Three months ended

($ in millions)

September 30,

Details about OCI components

reclassified from OCI

2023

2022

2023

2022

–

(9)

(8)

(3)

(2)

–

Tax

Income tax expense

(1)

(10)

(3)

Q3 2023 FINANCIAL INFORMATION

─

Note 16

Three months ended September 30,

($ in millions)

2023

2022

2023

2022

205

–

Total

274

Three months ended September 30,

($ in millions)

2023

2022

2023

2022

–

220

Total

274

primarily in Other provisions.

─

Note 17

Operating segment data

●

Division.

●

Q3 2023 FINANCIAL INFORMATION

●

Corporate and Other:

●

divested businesses),

●

at September 30, 2023, and December 31, 2022.

Robotics &

Process

Discrete

Corporate

($ in millions)

Electrification

Motion

Automation

and Other

Total

3,411

1,858

1,663

1,456

229

8,617

4,393

1,924

1,279

431

216

8,243

of which: United States

3,292

1,602

798

269

182

6,143

2,912

1,699

1,580

886

7,130

of which: China

1,356

866

502

657

3,404

10,716

5,481

4,522

2,773

498

23,990

Products

10,050

4,695

2,667

2,353

445

20,210

666

786

1,855

420

3,780

10,716

5,481

4,522

2,773

498

23,990

Third-party revenues

10,716

5,481

4,522

2,773

498

23,990

Intersegment revenues

170

387

(593)

–

Total revenues

(1)

10,886

5,868

4,543

2,788

(95)

23,990

Q3 2023 FINANCIAL INFORMATION

Robotics &

Process

Discrete

Corporate

($ in millions)

Electrification

Motion

Automation

and Other

Total

3,125

1,430

1,726

1,070

169

7,520

3,799

1,574

1,135

377

133

7,018

of which: United States

2,777

1,307

681

267

5,124

3,020

1,564

1,607

838

7,084

of which: China

1,506

888

498

646

3,563

9,944

4,568

4,468

2,285

357

21,622

Products

9,328

3,931

2,420

1,935

332

17,946

616

637

2,048

350

3,676

9,944

4,568

4,468

2,285

357

21,622

Third-party revenues

9,944

4,568

4,468

2,285

357

21,622

Intersegment revenues

177

332

(539)

–

Total revenues

(1)

10,121

4,900

4,493

2,290

(182)

21,622

Three months ended September 30, 2023

Robotics &

Process

Discrete

Corporate

($ in millions)

Electrification

Motion

Automation

and Other

Total

1,083

569

582

500

2,810

1,461

657

411

159

2,775

of which: United States

1,113

541

248

2,067

964

582

553

263

2,383

of which: China

439

285

163

182

1,075

3,508

1,808

1,546

922

184

7,968

Products

3,288

1,526

924

777

165

6,680

220

282

622

145

1,288

3,508

1,808

1,546

922

184

7,968

Third-party revenues

3,508

1,808

1,546

922

184

7,968

Intersegment revenues

139

(207)

–

Total revenues

(1)

3,561

1,947

1,554

929

(23)

7,968

Three months ended September 30, 2022

Robotics &

Process

Discrete

Corporate

($ in millions)

Electrification

Motion

Automation

and Other

Total

1,005

477

595

358

2,494

1,354

545

368

139

2,452

of which: United States

988

454

221

101

1,796

1,053

569

488

329

2,460

of which: China

514

323

189

264

1,300

3,412

1,591

1,451

826

126

7,406

Products

3,204

1,379

778

705

118

6,184

208

212

673

121

1,222

3,412

1,591

1,451

826

126

7,406

Third-party revenues

3,412

1,591

1,451

826

126

7,406

Intersegment revenues

111

(179)

–

Total revenues

(1)

3,471

1,702

1,458

828

(53)

7,406

Q3 2023 FINANCIAL INFORMATION

Three months ended

September 30,

($ in millions)

2023

2022

2023

2022

Operational EBITA:

Electrification

2,212

1,768

748

651

Motion

1,157

845

390

305

Process Automation

670

645

226

225

418

215

137

106

Corporate and Other

‒

E-mobility

(134)

(12)

(39)

(4)

(229)

(97)

(70)

(52)

Total

4,094

3,364

1,392

1,231

Acquisition-related amortization

(164)

(174)

(55)

(1)

(92)

(300)

(51)

(20)

–

(4)

–

(55)

(171)

(10)

(62)

(58)

(107)

(48)

(7)

(8)

(48)

(2)

(13)

related assets/liabilities)

(67)

(30)

–

(333)

–

(329)

(2)

(139)

(114)

(57)

(48)

(4)

–

(1)

(3)

(24)

Income from operations

3,755

2,152

1,259

708

115

(197)

(107)

(73)

(45)

102

3,696

2,197

1,231

714

Total assets

(1)

($ in millions)

September 30, 2023

December 31, 2022

Electrification

12,699

12,500

Motion

7,013

6,565

Process Automation

4,900

4,598

4,893

4,901

Corporate and Other

(2)

10,594

10,584

Consolidated

40,099

39,148

Q3 2023 FINANCIAL INFORMATION

—

Supplemental Reconciliations and Definitions

Order growth rate

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Business Area

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

-2%

-1%

Motion

-4%

-1%

-2%

-7%

14%

-1%

-2%

11%

20%

-2%

20%

38%

-1%

17%

23%

-26%

-1%

-27%

12%

-3%

ABB Group

-2%

-1%

11%

9M 2023 compared to 9M 2022

Order growth rate

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Business Area

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

11%

Motion

-1%

20%

-2%

20%

12%

17%

31%

16%

19%

-24%

-22%

22%

23%

ABB Group

-1%

11%

16%

Q3 2023 FINANCIAL INFORMATION

Order growth rate

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Region

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

Europe

-11%

-5%

-13%

13%

-7%

10%

The Americas

-1%

13%

-1%

16%

of which: United States

-1%

13%

15%

19%

-5%

-3%

of which: China

-10%

-3%

-17%

-10%

ABB Group

-2%

-1%

11%

Q3 2023 compared to Q3 2022

Order growth rate

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Region

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

Europe

-6%

-3%

-7%

The Americas

-2%

-1%

13%

of which: United States

-2%

13%

19%

-5%

-8%

of which: China

-6%

-15%

-7%

Electrification

-2%

-1%

Order growth rate

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Region

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

Europe

-22%

-5%

-1%

-28%

21%

-9%

-1%

11%

The Americas

-2%

-4%

-3%

21%

-1%

-5%

15%

of which: United States

-3%

-4%

-7%

19%

-5%

14%

10%

15%

of which: China

11%

-12%

-7%

Motion

-4%

-1%

-2%

-7%

14%

-1%

-2%

11%

Order growth rate

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Region

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

Europe

18%

-3%

22%

37%

-2%

-3%

13%

The Americas

63%

-5%

22%

80%

12%

-2%

15%

25%

of which: United States

75%

-6%

27%

96%

13%

-1%

19%

31%

-11%

14%

13%

22%

39%

of which: China

-22%

17%

-1%

-14%

15%

Process Automation

20%

-2%

20%

38%

-1%

17%

23%

Order growth rate

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Region

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

Europe

-35%

-3%

-38%

40%

-9%

31%

The Americas

-10%

-2%

-12%

14%

-3%

11%

of which: United States

-9%

-6%

-20%

-17%

-19%

-16%

of which: China

-32%

-28%

-31%

-27%

-26%

-1%

-27%

12%

-3%

Q3 2023 FINANCIAL INFORMATION

9M 2023 compared to 9M 2022

Order growth rate

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Region

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

Europe

-3%

15%

-1%

17%

The Americas

-1%

17%

20%

of which: United States

-1%

20%

23%

-5%

12%

of which: China

-13%

-5%

-4%

ABB Group

-1%

11%

16%

9M 2023 compared to 9M 2022

Order growth rate

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Region

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

Europe

-1%

The Americas

16%

18%

of which: United States

-1%

19%

21%

-1%

-3%

of which: China

-9%

-3%

-10%

-4%

Electrification

11%

9M 2023 compared to 9M 2022

Order growth rate

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Region

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

Europe

-3%

-1%

-5%

28%

-2%

-1%

25%

The Americas

-2%

23%

-3%

20%

of which: United States

-1%

-2%

-3%

23%

-3%

20%

16%

of which: China

-3%

-1%

Motion

-1%

20%

-2%

20%

9M 2023 compared to 9M 2022

Order growth rate

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Region

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

Europe

18%

21%

43%

-4%

15%

12%

The Americas

26%

-1%

14%

39%

13%

26%

of which: United States

24%

-3%

17%

38%

17%

18%

35%

-5%

17%

16%

-2%

17%

20%

of which: China

-2%

20%

23%

19%

25%

Process Automation

12%

17%

31%

16%

19%

9M 2023 compared to 9M 2022

Order growth rate

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Region

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

Europe

-26%

36%

-1%

35%

The Americas

-8%

-2%

-10%

15%

-1%

14%

of which: United States

-17%

-28%

-24%

12%

of which: China

-34%

-30%

-24%

-22%

22%

23%

Q3 2023 FINANCIAL INFORMATION

US$

Foreign

(as

exchange

Portfolio

Business Area

reported)

impact

changes

Comparable

11%

-2%

16%

Motion

11%

-5%

-1%

Process Automation

19%

-3%

20%

-11%

-3%

-14%

ABB Group

11%

-3%

11%

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Business Area

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

12%

-2%

Motion

-2%

33%

-1%

32%

30%

-3%

37%

64%

-8%

-1%

25%

16%

10%

-3%

19%

-4%

15%

ABB Group

22%

-3%

17%

36%

-1%

14%

18%

9M 2023 compared to 9M 2022

US$

Foreign

US$

Foreign

(as

exchange

Portfolio

(as

exchange

Portfolio

Business Area

reported)

impact

changes

Comparable

reported)

impact

changes

Comparable

10%

Motion

10%

23%

26%

-2%

26%

25%

-9%

25%

17%

11%

20%

ABB Group

14%

18%

14%

19%

Q3 2023 FINANCIAL INFORMATION

Definition

Operational EBITA margin is Operational EBITA as a percentage of operational revenues.

Operational EBITA

●

Acquisition-related amortization

Operational revenues

with U.S. GAAP.

Reconciliation

Nine months ended September 30,

Three months ended September 30,

($ in millions)

2023

2022

2023

2022

Operational EBITA

4,094

3,364

1,392

1,231

Acquisition-related amortization

(164)

(174)

(55)

(1)

(92)

(300)

(51)

(20)

–

(4)

–

(55)

(171)

(10)

(62)

(89)

(480)

(49)

(381)

(41)

(100)

(39)

(5)

Income from operations

3,755

2,152

1,259

708

115

(197)

(107)

(73)

(45)

102

3,696

2,197

1,231

714

Income tax expense

(794)

(728)

(326)

(294)

2,902

1,469

905

420

(16)

(36)

(7)

(16)

Net income

2,886

1,433

898

404

Q3 2023 FINANCIAL INFORMATION

Corporate and

Robotics &

Other and

Process

Discrete

Intersegment

($ in millions, unless otherwise indicated)

Electrification

Motion

Automation

elimination

Consolidated

Total revenues

3,561

1,947

1,554

929

(23)

7,968

on derivatives

(13)

(4)

–

(1)

(13)

(2)

Operational revenues

3,593

1,970

1,547

931

(22)

8,019

762

365

218

113

(199)

1,259

Acquisition-related amortization

implementation costs

(1)

–

divested businesses

–

(71)

–

(71)

and integration costs

(4)

–

(5)

(1)

–

on receivables/payables

(and related assets/liabilities)

(12)

–

(1)

(11)

Operational EBITA

748

390

226

137

(109)

1,392

20.8%

19.8%

14.6%

14.7%

n.a.

17.4%

Three months ended September 30, 2023

Robotics &

Process

Discrete

Corporate

($ in millions, unless otherwise indicated)

Electrification

Motion

Automation

and Other

Consolidated

Power Grids joint venture

–

(7)

(1)

–

(1)

–

(2)

(4)

Total

–

Q3 2023 FINANCIAL INFORMATION

Three months ended September 30, 2022

Corporate and

Robotics &

Other and

Process

Discrete

Intersegment

($ in millions, unless otherwise indicated)

Electrification

Motion

Automation

elimination

Consolidated

Total revenues

3,471

1,702

1,458

828

(53)

7,406

on derivatives

–

(1)

(9)

(5)

(9)

(4)

(7)

(34)

Operational revenues

3,474

1,711

1,472

827

(55)

7,429

616

291

154

(434)

708

Acquisition-related amortization

implementation costs

(1)

divested businesses

–

(1)

–

and integration costs

–

373

381

(3)

–

(1)

–

on receivables/payables

(and related assets/liabilities)

(6)

(2)

–

(2)

(5)

(15)

Operational EBITA

651

305

225

106

(56)

1,231

18.7%

17.8%

15.3%

12.8%

n.a.

16.6%

Three months ended September 30, 2022

Robotics &

Process

Discrete

Corporate

($ in millions, unless otherwise indicated)

Electrification

Motion

Automation

and Other

Consolidated

Power Grids joint venture

–

329

(1)

–

(3)

–

(21)

(24)

(4)

–

(3)

Total

–

373

381

Q3 2023 FINANCIAL INFORMATION

Corporate and

Robotics &

Other and

Process

Discrete

Intersegment

($ in millions, unless otherwise indicated)

Electrification

Motion

Automation

elimination

Consolidated

Total revenues

10,886

5,868

4,543

2,788

(95)

23,990

on derivatives

(5)

(1)

(20)

(2)

(8)

(3)

(11)

(44)

Operational revenues

10,898

5,880

4,546

2,790

(99)

24,015

Income (loss) from operations

2,130

1,098

688

347

(508)

3,755

Acquisition-related amortization

164

implementation costs

(1)

–

divested businesses

–

(6)

(5)

(71)

–

(26)

–

(97)

and integration costs

(3)

–

(1)

on receivables/payables

(and related assets/liabilities)

(15)

(5)

(6)

(2)

(25)

Operational EBITA

2,212

1,157

670

418

(363)

4,094

20.3%

19.7%

14.7%

15.0%

n.a.

17.0%

Robotics &

Process

Discrete

Corporate

($ in millions, unless otherwise indicated)

Electrification

Motion

Automation

and Other

Consolidated

Power Grids joint venture

–

(27)

(1)

–

123

139

–

(7)

(3)

–

(22)

(24)

Total

–

Q3 2023 FINANCIAL INFORMATION

Corporate and

Robotics &

Other and

Process

Discrete

Intersegment

($ in millions, unless otherwise indicated)

Electrification

Motion

Automation

elimination

Consolidated

Total revenues

10,121

4,900

4,493

2,290

(182)

21,622

on derivatives

122

–

(27)

(11)

(16)

(9)

(22)

(85)

Operational revenues

10,132

4,908

4,538

2,295

(161)

21,712

Income (loss) from operations

1,571

776

480

146

(821)

2,152

Acquisition-related amortization

174

implementation costs

(1)

256

300

divested businesses

–

(17)

(1)

–

and integration costs

122

171

–

450

480

107

–

on receivables/payables

(and related assets/liabilities)

(20)

(5)

(4)

(6)

(20)

(55)

Operational EBITA

1,768

845

645

215

(109)

3,364

17.4%

17.2%

14.2%

9.4%

n.a.

15.5%

Robotics &

Process

Discrete

Corporate

($ in millions, unless otherwise indicated)

Electrification

Motion

Automation

and Other

Consolidated

Power Grids joint venture

–

333

–

114

–

(2)

–

(3)

–

(55)

(58)

–

Total

–

450

480

Q3 2023 FINANCIAL INFORMATION

Net debt

Total debt

investments.

Reconciliation

($ in millions)

September 30, 2023

December 31, 2022

2,951

2,535

Long-term debt

4,899

5,143

Total debt

7,850

7,678

Cash and equivalents

3,869

4,156

1,091

725

4,978

4,899

Net debt

2,872

2,779

Net debt/Equity ratio

Equity

Reconciliation

($ in millions, unless otherwise indicated)

September 30, 2023

December 31, 2022

13,754

13,187

2,872

2,779

0.21

Net debt/EBITDA ratio

EBITDA

Reconciliation

($ in millions, unless otherwise indicated)

September 30, 2023

September 30, 2022

1,185

2,975

March 31, 2023 / 2022

1,198

857

June 30, 2023 / 2022

1,298

587

1,259

708

199

216

March 31, 2023 / 2022

191

210

June 30, 2023 / 2022

196

207

194

198

5,720

5,958

2,872

4,117

Net debt / EBITDA

0.5

0.7

Q3 2023 FINANCIAL INFORMATION

Net working capital

twelve-month period.

Reconciliation

($ in millions, unless otherwise indicated)

September 30, 2023

September 30, 2022

Net working capital:

7,586

6,695

Contract assets

1,073

955

Inventories, net

6,332

5,849

Prepaid expenses

280

261

(4,777)

(4,769)

Contract liabilities

(2,610)

(2,178)

Other current liabilities

(1)

(3,843)

(3,406)

Net working capital

4,041

3,407

7,824

7,567

March 31, 2023 / 2022

7,859

6,965

June 30, 2023 / 2022

8,163

7,251

7,968

7,406

(267)

(55)

31,547

29,134

12.8%

11.7%

Q3 2023 FINANCIAL INFORMATION

Definition

Free cash flow

($ in millions, unless otherwise indicated)

September 30, 2023

December 31, 2022

3,123

1,334

(765)

(762)

109

127

2,467

699

(43)

(47)

Free cash flow

2,424

652

(1)

3,859

2,442

63%

27%

Continuing operations

Discontinued

operations

($ in millions)

continuing operating

activities

Purchases of

property, plant and

equipment and

intangible assets

from sale of property,

plant and equipment

Net cash provided

by (used in)

discontinued

operating activities

Adjusted net income

attributable to ABB

(1)

Q4 2022

720

(259)

(33)

1,088

Q1 2023

283

(151)

(1)

1,036

Q2 2023

759

(180)

906

Q3 2023

1,361

(175)

(10)

829

months to September 30, 2023

3,123

(765)

109

(43)

3,859

$43 million.

Q3 2023 FINANCIAL INFORMATION

Reconciliation

Three months ended September 30,

($ in millions)

2023

2022

2023

2022

115

(197)

(107)

(73)

(45)

Net finance expenses

(82)

(57)

(36)

(28)

Book-to-bill ratio

Reconciliation

2023

2022

($ in millions, except Book-to-bill presented as a ratio)

Orders

Revenues

Book-to-bill

Orders

Revenues

Book-to-bill

Electrification

11,794

10,886

1.08

11,797

10,121

1.17

Motion

6,285

5,868

1.07

6,247

4,900

1.27

Process Automation

5,665

4,543

1.25

5,079

4,493

1.13

2,516

2,788

0.90

3,318

2,290

1.45

Corporate and Other

(91)

(95)

n.a.

(73)

(182)

n.a.

ABB Group

26,169

23,990

1.09

26,368

21,622

1.22

Three months ended September 30,

2023

2022

($ in millions, except Book-to-bill presented as a ratio)

Orders

Revenues

Book-to-bill

Orders

Revenues

Book-to-bill

Electrification

3,693

3,561

1.04

3,772

3,471

1.09

Motion

1,886

1,947

0.97

1,966

1,702

1.16

Process Automation

1,883

1,554

1.21

1,568

1,458

1.08

665

929

0.72

901

828

1.09

Corporate and Other

(75)

(23)

n.a.

(19)

(53)

n.a.

ABB Group

8,052

7,968

1.01

8,188

7,406

1.11

Q3 2023 FINANCIAL INFORMATION

—

ABB Ltd

Corporate Communications

8050 Zurich

Switzerland

www.abb.com

SIGNATURES

Pursuant to the requirements of the Securities

Exchange Act of 1934, the registrant

has duly caused this report to be

signed on its behalf by the undersigned, thereunto

duly authorized.

ABB LTD

Date: October 1830, 2023.

By:

/s/ Ann-~~Sofie~~Sophie Nordh

Name:

Ann-Sofie Nordh

Title:

Group Senior Vice President and

Head of Investor Relations

Date: October 1830, 2023.

By:

/s/ Richard A. Brown

Name:

Richard A. Brown

Title:

Group Senior Vice President and

Chief Counsel Corporate & Finance

Filing Compare · ABB LTD