ABB continues to see growth in renewable energy grid integration and digitalisation, according to its results for the first half of the year.
However, the market for large grid investments, such as long distance transmission remains subdued, the company said.
Revenue in the power grids business was almost $4.74bn in the first half of 2018, down slightly on the almost $4.86bn posted in the same period last year.
Operational earnings were $464m in the first six months of the year, dropping from $484m in 2017.
Orders were up, however, at almost $5.06bn from just over $4.75bn last year.
The Swiss company’s overall orders stood at almost $19.3bn in the first six months of 2018, up from just over $16.75bn last year.
Revenue also increased this year to more than $17.5bn from about $16.31bn from January to the end of June 2017.
However, net income this year was on a par with the same period last year at $1.25bn.
Image: ABB
Clean power growth at ABB
By EBS