Financial Statements 2018
ABB Ltd, Zurich

Income Statement

Year ended December 31 (CHF in thousands)

Note

2018

2017

Dividend income

8

1,300,000

1,000,000

Finance income

 

37,921

28,179

Other operating income

9

83,902

39,981

Finance expenses

 

(52,755)

(45,939)

Personnel expenses

 

(39,826)

(38,761)

Other operating expenses

 

(31,542)

(32,918)

Net income before taxes

 

1,297,700

950,542

Income taxes

 

(116)

(802)

Net income

 

1,297,584

949,740

Balance Sheet

December 31 (CHF in thousands)

Note

2018

2017

Cash

 

318

689

Cash deposit with ABB Group Treasury Operations

2

11,522

503,868

Non-trade receivables

 

46

153

Non-trade receivables – Group

 

12,143

7,682

Short-term loans – Group

 

344,703

50,000

Accrued income and prepaid expenses

 

737

807

Accrued income and prepaid expenses – Group

 

3,927

3,452

Other short-term assets

 

562

Total current assets

 

373,396

567,213

 

 

 

 

Long-term loans – Group

 

417,665

756,273

Participation

3

8,973,229

8,973,229

Other long-term assets

 

1,552

2,096

Total non-current assets

 

9,392,446

9,731,598

Total assets

 

9,765,842

10,298,811

 

 

 

 

Interest-bearing liabilities

5

350,016

Interest-bearing liabilities – Group

5

344,703

50,000

Non-trade payables

 

10,699

9,897

Non-trade payables – Group

 

3,018

2,670

Deferred income and accrued expenses

 

126,577

124,598

Deferred income and accrued expenses – Group

 

1,989

1,489

Total current liabilities

 

486,986

538,670

 

 

 

 

Interest-bearing liabilities

5

350,000

350,000

Interest-bearing liabilities – Group

5

417,665

756,273

Total non-current liabilities

 

767,665

1,106,273

Total liabilities

 

1,254,651

1,644,943

 

 

 

 

Share capital

7

260,178

260,178

Legal reserves

 

 

 

Legal reserves from capital contribution

7

30,430

30,430

Legal reserves from retained earnings

7

1,000,000

1,000,000

Free reserves

 

 

 

Retained earnings

7

6,716,999

7,048,809

Net income

 

1,297,584

949,740

Own shares

7

(794,000)

(635,289)

Total stockholders’ equity

 

8,511,191

8,653.868

Total liabilities and stockholders’ equity

 

9,765,842

10,298,811

Cash Flow Statement

Year ended December 31 (CHF in thousands)

Note

2018

2017

 

 

 

 

Operating activities:

 

 

 

Net income

 

1,297,584

949,740

 

 

 

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

Reversal of amortization other assets

 

1,106

1,152

Change in valuation of bonds

5

(16)

(18)

Loss from delivery of own shares

7

(12,701)

(14,254)

 

 

 

 

Changes in operating assets and liabilities:

 

 

 

Receivables, accrued income and prepaid expenses

 

(4,759)

(2,048)

Current liabilities (excl. interest-bearing liabilities)

 

3,629

38,521

Net cash provided by operating activities

 

1,284,843

973,093

 

 

 

 

Investing activities:

 

 

 

Loans granted to Group companies

 

(295,598)

Partial repayment of loan granted to Group companies

 

49,774

24,014

Change in cash deposit with ABB Group Treasury Operations

 

492,346

337,463

Net cash provided by investing activities

 

542,120

65,879

 

 

 

 

Financing activities:

 

 

 

Repayment of bonds 2012–2018

5

(350,000)

Loans granted by Group companies

5

295,598

Partial repayment of loan granted by Group companies

5

(49,774)

(24,014)

Purchase of own shares

7

(232,300)

(243,746)

Delivery of own shares

7

86,290

220,898

Dividends paid from retained earnings

7

(1,281,550)

(1,287,758)

Net cash used in financing activities

 

(1,827,334)

(1,039,022)

Net change in cash

 

(371)

(50)

 

 

 

 

Cash opening balance

 

689

739

Cash closing balance

 

318

689