By ICN GroupChemical, April 25, 2018

Linde starts Q1 with positive trends

Group revenue from continuing operations fell by 7.8 percent, whereas group operating profit from continuing operations rose by 3.8 percent

The Linde Group saw positive business trends in the first quarter of 2018. After adjusting for exchange rate effects and for the impact of the first-time application of new accounting standard IFRS 15, revenue rose by 1.4 percent compared with the first quarter of 2017. "We have continued to grow and have achieved a substantial increase in our profitability," said Professor Dr Aldo Belloni, Chief Executive Officer of Linde AG. "The significant improvement in our Group margin is the result of the efficiency measures we have introduced, continued portfolio optimisation and good macroeconomic conditions."

In the first quarter of 2018, Group revenue from continuing operations fell by 7.8 percent to EUR 4.044 bn (2017: EUR 4.385 bn). Exchange rate effects were the main reason for this decrease. In addition, the first-time application of IFRS 15 had a negative impact on revenue. After adjusting for exchange rate effects arising solely on translation and for the impact from the first-time application of IFRS 15, Group revenue was 1.4 percent above the figure for the prior-year period.

Group operating profit from continuing operations rose by 3.8 percent to EUR 1.081 bn (2017: EUR 1.041 bn). After adjusting for exchange rate effects, the increase was as much as 12.1 percent. At 26.7 percent, the Group operating margin was significantly higher than the figure for the first quarter of 2017 of 23.7 percent. Factors contributing to this improvement included not only the measures introduced as part of the Group-wide efficiency programme LIFT, portfolio optimisation and good macroeconomic conditions, but also the impact of the first-time application of IFRS 15.

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