Linde reports group revenue of €16.948 billion, up 0.2% after adjusting for exchange rate effects. Group operating profit was €4.098 billion, an increase of 2.7%.
‘Despite the low price of oil and the economic headwind, we were able to meet expectations and achieve increases in revenue and earnings after adjusting for exchange rate effects, especially in a strong fourth quarter,’ said Professor Dr Aldo Belloni, CEO. ‘We have increased our group margin and our operating cash flow has remained at a high level, so we have been able to maintain our dividend distribution which is geared towards continuity.’
In the Gases Division, revenue fell in the 2016 financial year by 1.8% to €14.892 billion (2015: €15.168 billion). After adjusting for exchange rate effects and changes in the price of natural gas, revenue increased by 1.4%. Operating profit in the Gases Division rose by 1.4% to €4.210 billion (2015: €4.151 bilion), giving an operating margin of 28.3%.
Linde reports that recent economic forecasts indicate that the global gases market will grow at a similar rate in 2017 to that seen in 2016. In contrast, the market environment in the international plant construction business could see a slight improvement, although it might continue to be beset by uncertainty. For the group as a whole, Linde is seeking to achieve an increase in revenue of 3% after adjusting for exchange rate effects.
This story uses material from Linde, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.