Linde's 2009 attributable net profit falls 17.6% to €591m

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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By: Nigel Davis
+44 20 8652 3214

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