logo
  

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Foxconn, Apple Inc.'s key iPhone assembler, expects that its major plant in China, which is being hit hard by worker unrest following Covid-19 spread and related restrictions, would restart full production around late December to early January, Reuters reported citing a Foxconn source. Nestle Purina PetCare Co. has recalled a limited amount of certain prescription wet dog food citing labeling error, the U.S. Food and Drug Administration said. The recall involves Purina Pro Plan Veterinary Diets EN Gastroenteric Low Fat or PPVD EN Low Fat wet dog food that comes in 13.4 oz cans. Exportadora Copramar is recalling 1260 cases of James Farm frozen raspberries citing potential to be contaminated with Hepatitis A, the U.S. Food and Drug Administration said. The recall involves James Farm branded frozen raspberries identified by UPC Code: 76069501010 and Lot Code - 22-165.
Follow RTT