Germany’s Linde H1 profit grows 11.4%, sales up 10.5%

30 July 2013 07:43  [Source: ICIS news]

SINGAPORE (ICIS)--Linde reported an 11.4% year-on-year increase in profit for the first half of 2013 to €715m ($953m), partly on gases division income and solid contribution from its expanded healthcare operations, the Germany-based industrial gases company said on Tuesday.

The company generated revenues of €8.21bn during the first six months of the year compared with €7.43bn in the first half of 2012, while earnings before interest and tax (EBIT) rose 9.3% year on year to €1.10bn, the company said in a statement.

Gases division revenue rose by 14.5% to €7.02bn, while operating profit in the segment also rose by 14.1% to €1.92bn.

Engineering division reported a 1.5% increase in revenue to €1.25bn with operating profit at €148m, a decline of 2% over the same period a year ago.

“We have held our own quite well in the first half of the year, in an environment which is proving challenging to everyone,” Linde CEO Wolfgang Reitzle said in the statement.

“Although the economic tailwind has subsided somewhat, we have continued to achieve profitable growth. The expansion of our healthcare operations in particular made the greatest contribution here," Reitzle said.

"We want to achieve a higher level of group revenue in 2013 than in 2012, and to generate group operating profit in the current year of at least €4bn,” Reitzle said.

Linde is maintaining its target of generating group operating profit of at least €5bn in 2016.

($1 = €0.75)

By: Tahir Ikram
+65 6780 4359

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