Thanks to savings and strong business in emerging markets, the Munich-based company aims this year set new records for revenue and operating profit on. It is true that economic growth has become more subdued, said CEO Wolfgang Reitzle on Friday when submitting the annual accounts 2011 in Munich. "We are prepared us for this challenging environment, and overall look confidently to the future," said the manager. The Group increased its operating profit in 2011 increased by 9.7 percent to a record high of 3.21 billion euros. Linde is benefiting from its broad range in growth regions such as Asia. Shareholders Reitzle promised to raise the dividend to 2.50 euros per share of 2.20 €. On the stock market and outlook figures were good. The Linde shares rose more than four times per cent to a record high 131.90 €. This was the Linde share by far the biggest winner in the Dax.
In the fourth quarter operating profit of 847 million € was in the books. Analysts had expected less. Linde now generates 35 percent of its gas revenue in emerging markets. In the rapidly growing economies of Southeast Asia is the company that provides, among other things, the steel and electronics industries with oxygen and nitrogen, by now the number one in the gas industry. The winning numbers for the past year, however, boosted by a multi-year savings program that Reitzle was launched in 2008. Among other things, changes in purchasing and logistics will be saved in the years 2009 to 2012 a total of 650 to 800 million €. "We are on track to achieve this goal," said Reitzle. By the end of 2011 were already achieved savings of 620 million €.
But even after 2012, Linde does not stop there. Reitzle announced further cost-cutting steps, over which he could be the report as early as autumn. More specifically, he was not. The world's second largest industrial gases group Air Liquide began after the French last year to € 13.79 billion - an increase of 7.1 percent. Net profit increased by 16.9 percent to 1.24 billion euros. In the current year, Linde aims to improve its consolidated sales and operating results continue to be. For the global gas market Reitzle assumes a growth rate of an average of six percent per year. Linde Gases Division in his will grow stronger - in 2012.
In the fourth quarter operating profit of 847 million € was in the books. Analysts had expected less. Linde now generates 35 percent of its gas revenue in emerging markets. In the rapidly growing economies of Southeast Asia is the company that provides, among other things, the steel and electronics industries with oxygen and nitrogen, by now the number one in the gas industry. The winning numbers for the past year, however, boosted by a multi-year savings program that Reitzle was launched in 2008. Among other things, changes in purchasing and logistics will be saved in the years 2009 to 2012 a total of 650 to 800 million €. "We are on track to achieve this goal," said Reitzle. By the end of 2011 were already achieved savings of 620 million €.
But even after 2012, Linde does not stop there. Reitzle announced further cost-cutting steps, over which he could be the report as early as autumn. More specifically, he was not. The world's second largest industrial gases group Air Liquide began after the French last year to € 13.79 billion - an increase of 7.1 percent. Net profit increased by 16.9 percent to 1.24 billion euros. In the current year, Linde aims to improve its consolidated sales and operating results continue to be. For the global gas market Reitzle assumes a growth rate of an average of six percent per year. Linde Gases Division in his will grow stronger - in 2012.
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