These services include IT, real estate, and other shared corporate services. We ended the year with an annual book-to-bill ratio of 1.05x, the highest annual number since 2014. ABB revenue for the quarter ending March 31, 2020 was $6.216B, a 9.22% decline year-over-year.
We're focusing the company through the divestment of Power Grids to Hitachi, 2). Maybe I'll take this here so that there is no risk for an accident or anything like that. If you take the revenue growth pattern of the new ABB over the last couple of quarters, you see an increase of momentum. In the past, with Power Grids being a more commoditized business, you've had a lot of pricing pressure. Thank you.We make really good money in this business by providing unique customer value. The Power Grids division was moved from continuing to discontinued operations. All previously reported amounts have been adjusted consistent with these portfolio changes.In December 2018, ABB announced the appointment of Morten Wierod, currently Managing Director Business Unit Drives, as business leader for the newly created Motion business. The order backlog at the quarter end was up 10% year on year. Let's change the likelihood that we hit the targets with the new setup that we have. Third, we will continue to look at value-creating acquisitions in a disciplined way. In Electrification, through the start-up activities in e-mobility and data centers, through the deployment of capital in the biggest economy of the world, through Thomas & Betts and GE Industrial Solutions, we have shaped the clear No. Enjoy the rest of the afternoon.The regulatory process is well under way. It will be the pool principle. Now, with that said, it's important that you understand the financial mirror of what I just said, and Timo will now do that. And, we continued expanding. In Europe, while growth slowed in some core markets such as Germany, overall growth was robust at 4%. These are ABB Ability and artificial intelligence on the R&D side and central corporate processes, such as finance, strategy, and communications. We will differentiate by continuously shaping and enhancing our unique portfolio for digital industries. This portfolio differentiates us very clearly from all of our competitors. If I look at the market share gains that Dassault has demonstrated in the last 12-18 months, I think we're betting on the right horse as a partner.At the same time, we have launched separation activities. The research and development for forward-looking common technologies like AI, and 3).
Base orders from the Americas increased 13 percent (37 percent in US dollars).- Reported net income at $2,173 million, -2%Cash flow from operating activitiesEffective January 1, 2018, management responsibility and oversight of certain remaining engineering, procurement and construction (EPC) business, previously included in the Industrial Automation and Robotics and Motion operating segments and the former Power Grids business, were transferred to a new non-core operating business within Corporate and Other. 2 globally in Electrification. Order activity for cruise ships and in process industries including mining and pulp and paper was strong during the quarter. If you look at the four businesses, all of them are facing a significant market, and all of these markets are growing either in line or ahead of GDP. So, the answer to that is no because I actually said even in my prepared remarks that we expect to ramp down non-core business by end of 2021, and there could be still some impact from that. We will continue to drive the operational improvements in Electrification Products and our company overall”, said ABB CEO Ulrich Spiesshofer.- ABB saw healthy demand from process industries, including oil and gas, mining, and pulp and paper, with customers continuing to invest in automation and digital solutions.- ABB Ability™ drives growth across all divisionsThe acquisition of GEIS completed on June 30, 2018, strengthened the competitiveness of Electrification Products, particularly in the attractive North American market. Combined, these factors affected operational EBITA by 250 basis points for the full year 2018 and 400 basis points in the fourth quarter.Now, let me give you a couple of numbers for these businesses, and some of them might be real news for you here today.