Having just announced a rise in sales and operating profit, The Linde Group looks on track for record profits by the year end.
For the period ended 30th September, Linde reported growth in sales and Group operating profit. Professor Dr Wolfgang Reitzle, CEO of Linde AG, commented on the latest results. He stated, “We have taken advantage of the economic recovery and our profitability has continued to increase. The measures we have adopted to achieve sustainable improvements in efficiency are having an ever greater effect. This is another reason why we are confident for the remainder of the year.”
During the three quarters of 2010, Linde sales rose by 13.1% to €9.405bn. Group operating profit rose to a higher degree at 23.2% to €1.741bn. Similarly, The Group operating margin was 22.8%, 190 basis points above the figure for the corresponding prior year.
Professor Reitzle continued, “We reaffirm our objective, which is to reach higher level of Group sales and Group operating profit in the 2010 financial year than in 2009. We are convinced that Group operating profit will increase at a faster rate than sales and even exceed the record profit achieved in 2008.”
Earnings before taxes on income (EBT) increased substantially on the prior year, rising by 64.2% to €611m. Consequently, adjusted earnings per share stood at €4.88 which contrasts to a previous year result of €3.38.