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ABB's sales revenue in Estonia grows 3% in 2015
BC, Tallinn, 02.05.2016.
Print version
Print versionSales revenue of the power management and automated systems manufacturer ABB AS, Estonian unit of the international ABB group, increased in 2015 by 3% to 155 million euros, but total orders were 9% lower than the year before, reports LETA.
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"We were able to increase sales revenue in conditions characterized by a standstill of global economy, slowdown of China's economic growth and fall in commodity prices, first and foremost oil," head of ABB Baltics Bo Henriksson said.
ABB AS boosted export by 12% last year. The share of export in sales revenue increased by 9%, to 83% of the total. Sales on the domestic market, on the other hand, were modest. Estonia's economic growth slowed down in 2015 to its lowest level in the last six years, which told on ABB's sales, Henriksson said.
The company's investments shrank 16%, from 5.8 million euros in 2014 to 4.9 million euros last year.
ABB AS employed 1,056 people last year, 2% fewer than the year before.
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