04 March 2010 12:51 [Source: ICIS news]
LONDON (ICIS news)--Linde was largely resistant to the global financial and economic crisis in 2009, with full-year net profits attributable to shareholders falling 17.6% year on year to €591m ($810m), the German industrial gases company said on Thursday.
The firm's gases business had been relatively stable, it said. Engineering profits and sales were down by more than 20%, but the division’s operating margin of 9.1% exceeded an 8% target.
"We have fared reasonably well in a difficult economic environment," CEO Wolfgang Reitzle said.
Operating profit before non-recurring items was down 6.7% at €2.39bn on sales down 11.5% at €11.2bn.
The gases division's operating profit was down just 1.6% at €2.38bn on sales 6.1% lower at €8.93bn.
The engineering division's profit for the year of €210m was down 21.3% on 2008, while the division’s sales were 23.4% lower at €2.31bn.
Linde will release further details of the 2009 outturn on 17 March.
($1 = €0.73)
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