FILE PHOTO: The logo of Swiss power technology and automation group ABB is seen at the Swiss Economic Forum (SEF) conference in Interlaken, Switzerland May 24, 2019
ABB became the latest company to warn about the impact of the coronavirus on its profits, with the Swiss engineering group on Monday saying all of its businesses would suffer in the first quarter.
"Although it is not yet possible to determine the exact impact of COVID-19 on ABB's first quarter results, ABB expects revenues to decline in all its businesses relative to a year ago, while orders are somewhat less impacted," ABB said in a statement.
Profitability would also decline as the company struggled with lower volumes, it added.
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4 years ago
