Germany’s Linde upbeat on better sales, op profit in 2010

17 March 2010 07:19  [Source: ICIS news]

SINGAPORE (ICIS news)--German industrial gases company Linde said on Wednesday it expects to post higher sales and operating profit this year, with its gases division likely posting record earnings.

In 2009, the group made €591m ($810m) in net profit, down 17.6% year on year. Operating profit stood at €2.39bn on sales of €11.2bn.

“This year, the group expects to be able to exceed the record level of operating profit achieved in its gases business in 2008,” the company said in a statement.

Linde’s gas business posted a €2.38bn operating profit last year, down 1.6% from $2.42bn in 2008.

Strong earnings would be possible due to start-ups of a number of plants, the company said.

Its engineering division, meanwhile, may not perform as strongly. Linde said it expected sales in this segment to be flat this year from €2.31bn in 2009.

“Given the continuing economic uncertainty, it is still likely that the award of some new projects may be postponed,” Linde said.

($1 = €0.73)

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By: Pearl Bantillo
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