Financial Statements 2017
ABB Ltd, Zurich

Income Statement

Year ended December 31 (CHF in thousands)

Note

2017

2016

Dividend income

8

1,000,000

2,000,000

Finance income

 

28,179

20,719

Other operating income

9

39,981

41,862

Finance expenses

 

(45,939)

(67,035)

Personnel expenses

 

(38,761)

(38,039)

Other operating expenses

 

(32,918)

(29,344)

Net income before taxes

 

950,542

1,928,163

Income taxes

 

(802)

(3,352)

Net income

 

949,740

1,924,811

Balance Sheet

December 31 (CHF in thousands)

Note

2017

2016

Cash

 

689

739

Cash deposit with ABB Group Treasury Operations

2

503,868

841,331

Non-trade receivables

 

153

105

Non-trade receivables – Group

 

7,682

8,113

Accrued income and prepaid expenses

 

807

Accrued income and prepaid expenses – Group

 

3,452

1,828

Other short-term assets

 

562

Total current assets

 

517,213

852,116

 

 

 

 

Long-term loans – Group

 

806,273

510,675

Participation

3

8,973,229

8,973,229

Other long-term assets

 

2,096

3,810

Total non-current assets

 

9,781,598

9,487,714

Total assets

 

10,298,811

10,339,830

 

 

 

 

Non-trade payables

 

9,897

7,135

Non-trade payables – Group

 

2,670

1,763

Deferred income and accrued expenses

 

124,598

90,740

Deferred income and accrued expenses – Group

 

1,489

495

Interest-bearing liabilities

5

350,016

Total current liabilities

 

488,670

100,133

 

 

 

 

Interest-bearing liabilities

5

350,000

700,034

Interest-bearing liabilities – Group

5

806,273

510,675

Total non-current liabilities

 

1,156,273

1,210,709

Total liabilities

 

1,644,943

1,310,842

 

 

 

 

Share capital

7

260,178

265,769

Legal reserves

 

 

 

Legal reserves from capital contribution

7

30,430

30,430

Legal reserves from retained earnings

7

1,000,000

1,000,000

Free reserves

 

 

 

Retained earnings

7

7,048,809

7,327,872

Net income

 

949,740

1,924,811

Own shares

7

(635,289)

(1,519,894)

Total stockholders’ equity

 

8,653.868

9,028,988

Total liabilities and stockholders’ equity

 

10,298,811

10,339,830

Cash Flow Statement

Year ended December 31 (CHF in thousands)

Note

2017

2016

 

 

 

 

Operating activities:

 

 

 

Net income

 

949,740

1,924,811

 

 

 

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

Reversal of amortization other assets

 

1,152

1,831

Change in valuation of bonds

5

(18)

207

 

 

 

 

Changes in operating assets and liabilities:

 

 

 

Receivables

 

(2,048)

3,580

Current liabilities (excl. interest-bearing liabilities)

 

38,521

14,720

Net cash provided by operating activities

 

987,347

1,945,149

 

 

 

 

Investing activities:

 

 

 

Loans granted to Group companies

 

(295,598)

(510,675)

Net cash used in investing activities

 

(295,598)

(510,675)

 

 

 

 

Financing activities:

 

 

 

Repayment of Bond 2011 – 2016

5

(500,000)

Loans granted by Group companies

5

295,598

510,675

Purchase of own shares

7

(243,746)

(1,254,379)

Delivery of own shares

7

206,644

251,809

Dividends paid

7

(1,287,758)

(1,580,561)

thereof from retained earnings

7

(1,287,758)

thereof from nominal value reduction

7

(1,580,561)

Net cash used in financing activities

 

(1,029,262)

(2,572,456)

Net change in cash and equivalents

 

(337,513)

(1,137,982)

 

 

 

 

Cash and equivalents, opening balance

 

842,070

1,980,052

Cash and equivalents, closing balance

 

504,557

842,070