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    Martin Wilkie • Citigroup Inc.

    Martin Wilkie's questions to ABBNY leadership

    Martin Wilkie's questions to ABBNY leadership • Q1 2025

    Question

    Martin Wilkie of Citigroup Inc. asked about the order pipeline, probing whether tariff uncertainty is causing customers to pause investment decisions and whether ABB's U.S. capacity expansion is driven by demand or as a tariff hedge.

    Answer

    CEO Morten Wierod acknowledged that while uncertainty can lengthen decision-making, the long-term demand for electrification and automation remains strong and this is factored into forecasts. He clarified that U.S. capacity expansions are primarily demand-driven to meet the need for North American standard products where demand has exceeded supply.

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    Martin Wilkie's questions to ABBN.SW leadership

    Martin Wilkie's questions to ABBN.SW leadership • Q1 2025

    Question

    Martin Wilkie from Citigroup Inc. questioned the impact of tariff uncertainty on the order pipeline and customer decision-making, and whether recent U.S. capacity expansions are driven by demand or as a tariff hedge.

    Answer

    CEO Morten Wierod acknowledged that while long-term demand remains strong, uncertainty can lengthen decision-making cycles for major investments. He clarified that U.S. capacity expansions are primarily demand-driven to increase supply for products with North American standards, not as a direct hedge against tariffs.

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    Martin Wilkie's questions to Abb Ltd (ABLZF) leadership

    Martin Wilkie's questions to Abb Ltd (ABLZF) leadership • Q1 2025

    Question

    Martin Wilkie from Citi questioned the impact of tariff uncertainty on the order pipeline and customer decision-making. He also asked if the announced U.S. capacity expansion is primarily demand-driven or a hedge against tariffs.

    Answer

    CEO Morten Wierod noted that while long-term demand for electrification and automation remains strong, uncertainty can lengthen decision-making cycles, which is factored into their forecast. He clarified that the U.S. capacity expansion is primarily demand-driven to meet North American standards and address longer lead times, not as a primary tariff hedge.

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    Martin Wilkie's questions to Abb Ltd (ABLZF) leadership • Q4 2024

    Question

    Martin Wilkie of Citi inquired about the data center business within the Electrification segment, focusing on the size of its backlog, the normalization of product lead times, and the outlook for backlog conversion amid recent AI industry news.

    Answer

    CEO Morten Wierod confirmed that customer investment plans remain stable, noting that the data center business grew from 12% of Electrification orders in 2023 to 15% in 2024. He highlighted innovations like the medium voltage UPS system. Executive Ann-Sofie Nordh added that lead times have improved, decreasing from a peak of around 50 weeks to approximately 35 weeks.

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