Accelleron Sees 6% Organic Growth For Full Year

Accelleron Industries AG, the turbocharging division of ABB Ltd (ANN.L), on Wednesday said it expects revenue to grow organically by about 6% in the current year.

Full-year operational net income is expected to be nearly $150 million and operational EBITA margin to be approximately 24 percent.

In July, ABB Group had announced its decision to spin off Accelleron, which is yet to be approved in ABB's Extraordinary General Meeting (EGM) scheduled for September 7.

Accelleron's listing on SIX Swiss Exchange is planned for October 3.

"We benefit from a strong balance sheet that provides us with the financial flexibility to grow our business and seize opportunities in new and adjacent areas while at the same time continuously returning cash to our shareholders," said Adrian Grossenbacher, CFO of Accelleron.

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