ABB

, in its annual report, highlighted its focus on high-growth segments and deeper penetration into Tier 2 cities, along with new product development. During the year, the company continued to benefit from demand for premium products and increased penetration into Tier 2 and Tier 3 cities. ABB continues to see strong potential in segments such as chemicals, pharmaceuticals, automotive, power distribution, water, electronics, and data centers, all of which are expected to attract significant investments, while also considering the global geopolitical situation. It remains focused on new areas of investment, such as green hydrogen, battery storage, and data centers. The company has grown its revenue at a 20% CAGR over the last five years and has doubled its profits over the past four years. Ordering in CY24 was lower than our expectations and we may see a near-term impact on overall ordering due to a slowdown in capex activity.