Linde managed to shrug off a challenging and largely “stagnant” economic climate to post an adjusted operating profit of $2.3bn (up 6%) in the first quarter.
Sales totalled $8.1bn, down marginally by 1% year-on-year, as the company once again grappled with ‘economic headwinds’ across core markets. Sales were flat in Americas ($3.5bn) and Asia-Pacific ($1.5bn) and dropped 4% in EMEA ($2bn).
CEO Sanjiv Lamba said, “I’m proud of how the Linde team continues to deliver high-quality results despite economic headwinds. We had another strong quarter, growing EPS 10%, ROC to 25.6% and expanding operating margins 200 basis points, reaching 28.9%. These results demonstrate the resiliency of our integrated industrial gas model through optimising our network density.”
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