“The Linde Group is on the right track” said its CEO as the German company announced its 2018 half-year financial results.
After adjusting for exchange rate effects and for the first-time application of new accounting standard IFRS 15, revenue rose by 4.7% compared with the first half of 2017. Group operating profit increased by 10.1%. At 25.6%, Linde’s operating margin was also significantly higher than the figure for the first half of 2017 of 23.9%.
“We are seeing encouraging growth in revenue and were able once again to achieve a significant increase in our Group margin,” said Professor Dr. Aldo Belloni, CEO of Linde AG. “We are working consequently to ensure that the efficiency improvement measures we introduced are being successfully implemented and that we continue to optimise our portfolio.”
In the first half of 2018, Group revenue was €8.7bn ($10.2bn), compared with €8.9bn ($10.4bn) in 2017. Exchange rate effects and the first-time application of IFRS 15 had a negative impact on revenue. After adjusting for both, Group revenue was 4.7% above the figure for the prior-year period. Group operating profit rose by 3.5% to €2.2bn ($2.6bn).
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