ABB (ABB) AGM 2025 summary

Opening remarks and agenda

• Warm welcome extended to shareholders, board members, and executive committee, with special mention of outgoing and incoming board members.

• Formal opening of the AGM, confirmation of statutory compliance, and explanation of safety and voting procedures.

• Confirmation that the meeting was properly convened, with all required documents and reports made available in advance.

Financial performance review

• 2024 marked another record year with an EBITDA margin of 18.1%, near the upper end of the target range.

• Revenues and other financial metrics surpassed previous records; free cash flow reached $3.9 billion.

• Electrification business saw 10% order growth and record margin; other business areas also performed strongly despite some market challenges.

• Sustainability targets validated by the Science Based Targets initiative; significant reductions in emissions and waste achieved.

Board and executive committee updates

• Lars Förberg stepped down from the board; Claudia Nemat elected as new board member.

• Smooth CEO transition to Morten Wierod, who has delivered strong results in his first eight months.

• Board and executive committee compensation for 2026 approved, with a reduction in the executive committee's maximum aggregate amount.