Linde’s Q2 earnings rise 85% to €270m

02 August 2010 09:04  [Source: ICIS news]

LONDON (ICIS)--Linde’s second-quarter earnings after tax rose 84.9% year on year to €270m ($351m), as the group benefited from the global economic upturn, in particular in the emerging markets, the German industrial gases company said on Monday.

Sales for the three months to 30 June 2010 rose 15.4% compared with the same period last year to €3.21bn, as market recovery in the international gases industry gathered pace in the quarter.

"The upward trend is continuing. In the course of the second quarter, we have increasingly seen a rise in demand worldwide," said Wolfgang Reitzle, CEO of Linde.

Linde said that its gases division recorded its highest growth rates in Asia, especially in the Greater China region, while in the more mature markets, such as the US and western Europe, demand also continued to rise.

The group’s engineering division saw a slight increase in demand, as the market environment in the international plant construction business in the four major product segments (olefins plants, natural gas plants, air separation plants and hydrogen and synthesis gas plants) increasingly showed signs of a revival in capital spending.

"Once again we have improved our profitability and we look with confidence to the months ahead. We reaffirm our objective, which is to reach a higher level of group sales and group operating profit in the 2010 financial year than in 2009,” Reitzle said.

“We are well on the way to achieving a faster rate of growth in group operating profit than in group sales and exceeding the group operating profit of record year 2008," the CEO added.

($1 = €0.77)

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By: Franco Capaldo
+44 (0)20 8652 3214

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