To summarize the outcome in the second quarter, I would first highlight the 2% comparable order growth which was up from last year's already high level, and the positive book-to-bill. It was good to see that the customer activity remained robust throughout the period. Secondly, the high revenue growth of 13% (17% comparable) supported by backlog execution. Thirdly, the record-high achievements on both absolute Operational EBITA of $1.4 billion and Operational EBITA margin of 17.5%, up 200 basis points from last year, with all four business areas above 15%. This was supported by a strong price contribution which more than offset labor inflation as well as some limited cost inflation related to commodities, with additional support from operational leverage on increased volumes in production. And lastly, the solid cash flow from operating activities of $760 million. All the while we executed on portfolio optimization and continued to introduce leading new technology to help our customers become more sustainable and resource efficient. In my view, the quarter is an additional indication that we are establishing ABB's operational performance at a higher level.

The Northwest Passage is the sea route between the Atlantic and Pacific oceans through the Arctic Ocean, along the northern coast of North America. This 6,000-kilometer stretch of treacherous waters is considered one of the most dangerous nautical routes in the world. For centuries, explorers sought a navigable passage as a possible trade route to Asia but were blocked by North, Central, and South America; however, in 1906, a team of Norwegian sailors successfully traversed the passage. Since then, specialty vessels with crews of dozens, if not hundreds, of highly trained sailors have attempted the voyage; some emerged successfully on the other side, but just as many were forced to turn back, call for rescue – or worse.

ABB announced today at the SelectUSA Investment Summit that it is investing $1 million in the University of Arkansas - Fort Smith (UAFS) to help position the school to become one of the nation’s leading advanced manufacturing educational institutions. This announcement follows ABB’s recent commitment to invest $170 million in manufacturing and distribution operations in 2023.