Low oil price a hurdle to ABB

ABB's financial report and bottom line for the fourth quarter and the full-year 2015 reveal the impact of reduced investments in the oil and gas industry.

Photo: ABB

Swedish-Swiss industrial giant ABB presented its fourth quarter and full-year financial report on Wednesday, and although the figures in certain spots passed analyst expectations, most of the key elements show massive losses. This also goes for the not uninteresting figure - the bottom line.

The bottom line declined in the fourth quarter by no less than 70 percent, from USD 680 million in the same period of the previous year to just USD 204 million. Looking at the full year, the bottom line declined 25 percent from about USD 2.6 billion to USD 1.9 billion.

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