Linde achieves record levels, sets targets further growth

Linde achieves record levels, sets targets for further growth

12:37 PM, 17th June 2011
Linde achieves record levels, sets targets for further growth
Dr Wolfgang Reitzle, Chief Executive Officer, Linde AG

 

  • Group sales up 14.8 per cent to EUR 12.868 bn
  • Group operating profit increases at a faster rate than sales, by 22.6 per cent to EUR 2.925 bn
  • Group outlook for 2011: Increase in sales and operating profit expected
  • Medium-term targets for 2014: Group operating profit of at least EUR 4 bn and ROCE of at least 14 per cent
  • Supervisory Board appoints new member of the Executive Board: Sanjiv Lamba assumes responsibility for the growth market of Asia

MUNICH, GERMANY: Linde AG achieved double-digit growth in both sales and operating profit, surpassing its previous best figures posted in the 2008 financial year. “The global economy has grown vigorously than we expected. But our good performance is not just due to the recovery, it is also the result of us seizing growth opportunities. Our gases and engineering businesses have a global presence and we have continued to achieve efficiency gains,” said Professor Dr Wolfgang Reitzle, Chief Executive Officer, Linde AG.

“We have set ourselves new medium-term targets and in 2011 and 2012 financial years, we assume group sales and operating profit will show continuous improvement,” said Reitzle.

In the 2010 financial year, Group sales rose 14.8 per cent to EUR 12.868 bn (2009: EUR 11.211 bn). By way of comparison, Linde achieved sales in the 2008 financial year of EUR 12.663 bn. The Group continued to increase its profitability, with Group operating profit growing at a faster rate than sales, up 22.6 per cent to EUR 2.925 bn (2009: EUR 2.385 bn). Group operating profit in 2008 was EUR 2.555 bn. The Group operating margin in the 2010 financial year increased by 140 basis points to 22.7 per cent (2009: 21.3 per cent).

Linde stands to gain in the long term from investment in two structural growth areas, energy and the environment.

© WOC News

 

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