ABB, which unveiled its full-year results today, had already flagged up a$260m hit in fourth-quarter earnings at its Power Systems unit as a result ofoperational issues at North Sea offshore wind grid-link projects – issues itsays it is tackling under a new management team.
Today it said “greaterorder selectivity” in Power Systems, plus lower-than-expected GDP growth andcustomer capital expenditures in 2013, means compound annual growth rate (CAGR) excluding acquisitions in the 2011-2015 period is likely to be 4% to 5%.
The
