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    Max Yates • Morgan Stanley

    Max Yates's questions to ABBNY leadership

    Max Yates's questions to ABBNY leadership • Q1 2025

    Question

    Max Yates of Morgan Stanley inquired about the data center business, asking if order patterns from a large, paused hyperscaler customer have normalized and whether double-digit growth for the segment can be expected for the remainder of the year.

    Answer

    CEO Morten Wierod confirmed that excluding the one hyperscaler, data center orders grew at a mid-teen rate. While expressing long-term confidence in the segment due to AI trends, he declined to speculate on an individual customer's future plans, referring instead to public news flow for updates.

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    Max Yates's questions to ABBN.SW leadership

    Max Yates's questions to ABBN.SW leadership • Q1 2025

    Question

    Max Yates from Morgan Stanley inquired about the data center business, specifically asking if a major customer's temporary pause in ordering has ended and whether double-digit order growth should be expected for the rest of the year.

    Answer

    CEO Morten Wierod confirmed that excluding one hyperscaler, data center orders grew at a mid-teen pace. While expressing long-term confidence in the segment due to AI trends, he declined to comment on a single customer's future plans, referring to public news flow for such information.

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    Max Yates's questions to Abb Ltd (ABLZF) leadership

    Max Yates's questions to Abb Ltd (ABLZF) leadership • Q1 2025

    Question

    Max Yates from Morgan Stanley inquired about the data center business, specifically asking if a large hyperscaler customer that paused orders has resumed normal activity and whether double-digit growth for the segment should be expected for the remainder of the year.

    Answer

    CEO Morten Wierod confirmed that excluding the one hyperscaler, data center orders grew at a mid-teen rate and expressed long-term confidence due to AI trends. However, he declined to speculate on a single customer's future plans, referring analysts to public news flow for specific company updates.

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    Max Yates's questions to Abb Ltd (ABLZF) leadership • Q4 2024

    Question

    Max Yates from Morgan Stanley questioned the drivers behind the strong order growth in the Electrification business, noting that it appears to be outpacing underlying construction markets and asking if this is due to building electrification or market share gains.

    Answer

    CEO Morten Wierod attributed the performance to the broad 'electrification of everything' trend, where industrial decarbonization requires new electrical infrastructure, creating demand independent of general GDP growth. He described the data center segment as a 'turbocharger' that further accelerates this growth, lifting the segment's performance.

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    Max Yates's questions to Metso Oyj (OUKPY) leadership

    Max Yates's questions to Metso Oyj (OUKPY) leadership • Q1 2024

    Question

    Max Yates inquired if Minerals margins could be sustained or improved with flattish sales for the year and asked for quantification of the 'self-help' initiatives contributing to margin resilience.

    Answer

    CFO Eeva Sipilä expressed confidence in driving margin improvement in the Minerals segment, supported by a strong aftermarket mix and better project execution. While declining to quantify savings, she highlighted concrete actions like footprint optimization and procurement savings as key drivers.

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    Max Yates's questions to Metso Oyj (OUKPY) leadership • Q1 2024

    Question

    Max Yates of Morgan Stanley inquired if Minerals margins could remain flat or improve if full-year sales are flat, asked about any margin impact from inventory reduction, and requested details on the 'self-help' initiatives driving margin improvement.

    Answer

    CFO Eeva Sipilä expressed confidence in driving for improved Minerals margins, supported by an aftermarket-heavy mix and better project execution. She detailed self-help initiatives including footprint optimization like factory closures in the Czech Republic and Sweden, service network expansion in Australia, and a focus on procurement savings and gross margin improvement on the equipment side.

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