ABB reaps benefits of Power-One purchase
Swiss
power systems giant ABB's acquisition of solar inverter manufacturer Power-One in July is already paying dividends
according to the parent company's annual report, published on Friday.
ABB
became the world's second largest solar inverter manufacturer when it incorporated the
Californian company into its discrete automation and motion (DAM) division last
summer.
The
latest set of figures show DAM aping the growth seen across four of ABB's five
divisions in 2013 with Power-One already making a significant contribution.
The
DAM division, which includes Power-One's inverters and electric vehicle charging
points as one of the 13 types of product it manufactures, boasted revenue of
$9.9 billion, up from $9.4 billion in 2012 and the second largest slice of the
parent company's revenue stream with 22%. Revenue raised by the acquisition was
cited as a significant factor in the corporate report outlining the figures.
Power-One
helps pick up the slack
DAM
orders were up from $9.6 billion to $9.8 billion and although the order backlog
dipped slightly, from $4.4 billion to $4.35 billion, that was down to other
segments of the division with Power-One orders helping pick up the slack.
Although
the income from operations for the DAM unit was hit by the Power-One acquisition
cost, falling from $1.47 billion to $1.45 billion, the division boasted the
highest earnings before interest, tax, depreciation and amortization (EBITDA)
figure of the ABB group with $1.8 billion, up from $1.7 billion in 2012.
The
parent company announced plans last year to start manufacturing inverters in
South Africa to supplement production lines in Estonia, India and China with the
division also expanding its electric vehicle (EV) charging station
portfolio.
Having
installed the world's first nationwide EV charging network with 165 units in
Estonia, the DAM division of ABB secured a contract from Fastned to install a
similar, 200 station, network in the Netherlands which will ensure a charging
station within 50km of every Dutch resident.
The
company has also signed a six-year deal to provide charging stations in China
for the long-range DENZA vehicle being developed by Daimler and BYD Auto.
With
mentions in EBB's corporate document of the electrical and control systems
supplied to South Africa's largest, 75 MW, PV park;
a solar multi-purpose battery charging station installed in West Bengal in
co-operation with conservation group WWF India; and the launch of the
abb-livingspace.com website to showcase the group's energy efficiency and smart
home technologies, ABB's commitment to solar seems assured.
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