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    Andre Kukhnin

    Senior Equity Research Analyst at UBS

    Andre Kukhnin is a Senior Equity Research Analyst at UBS, specializing in coverage of European industrial companies, with a portfolio spanning 38 stocks across major markets including France, Germany, the UK, the US, and Italy. He regularly covers companies such as Siemens and Rexel, and holds a strong performance track record with a 62% success rate and an average return of 7.9% per rating, as ranked among the top analysts on TipRanks. Kukhnin has been with UBS since at least 2019, focusing on industrials and contributing to investment research consensus for listed firms; details about prior roles or external credentials such as FINRA registrations are not publicly available. Recognized for his insightful stock ratings, his recommendations have produced notable results, with standout calls generating returns exceeding 100%.

    Andre Kukhnin's questions to ABBNY leadership

    Andre Kukhnin's questions to ABBNY leadership • Q1 2025

    Question

    Andre Kukhnin from UBS asked about the impact of U.S. tariffs, questioning if ABB has implemented responsive pricing actions and how deeply they have analyzed their suppliers' geographical sourcing to mitigate risks.

    Answer

    CEO Morten Wierod stated that 75-80% of U.S. sales are covered by local production with minimal direct import from China, mitigating direct tariff impact. He confirmed pricing actions were taken for raw material tariffs and that supplier exposure is understood and managed. CFO Timo Ihamuotila added that the primary risk is broader economic uncertainty, which has been factored into the company's guidance.

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    Andre Kukhnin's questions to ABBNY leadership • Q3 2024

    Question

    Asked about the sustainability of the high profitability in the medium voltage business and questioned the potential impact of implementing the 'ABB Way' deeper into the organization, specifically if it involves headcount reductions.

    Answer

    Management expressed confidence in the long-term strength of the medium voltage business, citing a new investment cycle driven by the mandatory shift to SF6-free switchgear. Implementing the 'ABB Way' deeper is about driving accountability and faster decision-making, not large corporate restructurings. Cost optimization is a continuous process driven by metrics like gross profit productivity per headcount.

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    Andre Kukhnin's questions to ABBN.SW leadership

    Andre Kukhnin's questions to ABBN.SW leadership • Q1 2025

    Question

    Andre Kukhnin of UBS asked about the company's response to U.S. tariffs, including any pricing actions taken and details on the 'U.S. for U.S.' supply chain, including exposure to suppliers sourcing from China.

    Answer

    CEO Morten Wierod explained that ABB has minimal direct imports from China to the U.S. and benefits from USMCA exemptions, limiting direct tariff impact. He confirmed price actions were taken for raw material tariffs and that supplier exposure is understood and mitigated. CFO Timo Ihamuotila added that the primary risk is broader economic uncertainty, which is factored into the company's guidance.

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    Andre Kukhnin's questions to ABB (ABLZF) leadership

    Andre Kukhnin's questions to ABB (ABLZF) leadership • Q1 2025

    Question

    Andre Kukhnin of UBS asked about the impact of U.S. tariffs, questioning if ABB has implemented responsive pricing actions and how deeply they have analyzed their suppliers' geographical sourcing and potential for passing on tariff-related costs.

    Answer

    CEO Morten Wierod stated that ABB has minimal direct imports from China to the U.S., with 75-80% of sales covered by local production, mitigating direct impact. He noted that price actions were taken for steel and aluminum tariffs. CFO Timo Ihamuotila added that the primary risk is broader economic uncertainty, which has been factored into the company's guidance, rather than the direct financial impact of the tariffs themselves.

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    Andre Kukhnin's questions to ABB (ABLZF) leadership • Q4 2024

    Question

    Andre Kukhnin of UBS asked for more detail on the 'ABB Way' program's contribution to 2024 margins and the scope of the opportunity from decentralizing accountability to the business line level.

    Answer

    Executive Morten Wierod explained that the ABB Way involves creating ~80 business lines to drive ownership and resilience, with 75% of revenue now in a 'growth' mandate. He stated that while it's hard to quantify the exact basis point contribution, this decentralized model is a key driver of margin improvement and ensures faster action on performance issues without needing large corporate programs.

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    Andre Kukhnin's questions to ABB (ABLZF) leadership • Q4 2024

    Question

    Andre Kukhnin from UBS Group AG asked for more detail on the 'ABB Way' program's contribution to 2024 margins and the scope of the opportunity to push overhead costs down to the business line level.

    Answer

    Executive Morten Wierod explained that the ABB Way decentralizes accountability to ~80 business lines, fostering resilience and faster action. While he found it difficult to quantify the exact basis point contribution, he stressed it is a crucial driver of margin improvement over the years and that its benefits will continue to drive performance.

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    Andre Kukhnin's questions to ABB (ABLZF) leadership • Q4 2024

    Question

    Andre Kukhnin from UBS Group AG asked for more detail on the margin contribution from the 'ABB Way' program in 2024 and the scope of the opportunity to decentralize overhead costs.

    Answer

    CEO Morten Wierod explained that the ABB Way involves creating ~80 business lines to drive ownership and resilience, with 75% of revenue focused on growth and 25% on profitability improvement. While he found it difficult to quantify the exact basis point contribution, he affirmed it is a key driver of margin improvement over the years and avoids the need for large corporate restructuring programs.

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    Andre Kukhnin's questions to ALSTOM (ALSMY) leadership

    Andre Kukhnin's questions to ALSTOM (ALSMY) leadership • Q4 2023

    Question

    Andre Kukhnin of Credit Suisse questioned the conservative nature of the 'above 5%' sales growth outlook for fiscal '24, given the strong order backlog, and asked about the expected payback from increased R&D investments.

    Answer

    Chairman and CEO Henri Poupart-Lafarge explained that the growth target prioritizes quality and a favorable mix of services and signaling over sheer volume. He added that R&D investments are driven by customer demand for energy savings and digitalization, which enhances technical scores in tenders, leading to better pricing and profitability rather than just market share gains.

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