gasworld’s Business Intelligence provides you with the latest analysis of Linde’s Q1 2015 earnings reports.
- Reported corporate sales up +6.5% YoY in Q4 to €4.5bn – highest growth since mid-2013 – taking annual revenues to over $17bn.
- Strong Operating Cash Flow generated at over $3.3bn.
- Gases growth up +3.5% in Q4 on reported basis, but on comparable basis up only +1.5%, slowest YoY growth in over four years.
- Gases account for around 80% of Linde corporate sales, with Engineering nearly 20% and other businesses less than 2%.
- Corporate operating income up nearly +5% in Q4, with gases operating income up over +7% in Q4 – both highest growth in over a year.
- Group operating margin continues to trend around 12-13%, while gases margin continues to run at about 15%.
- Reported ROCE eased slightly from 9.7% to 9.5%.
- Engineering profitability above industry margin due to favourable project mix.
- Revenue growth expected at +7-12% for 2015, driven by new capacity and volume/price gains.
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