• On-site contract concluded with polyurethane manufacturer Yantai Wanhua

• Investment volume of around 130 million euro

• Competitive position in China reinforced

Munich, 29 July 2011 – The technology company The Linde Group has been commissioned to build and operate two large air separation plants to supply gases on site to the Chinese company Yantai Wanhua in Shandong (East China). The contract for the project, which will involve investment of around EUR 130 m, was signed on 26 July 2011.

"We are very excited to be working with Wanhua in this project and further enhancing our strategic relationship with a company that is truly taking the lead in advancing the technological ladder in China and globally. This order is also a further confirmation of our successful expansion in a region of dynamic growth," said Sanjiv Lamba, the Linde AG Executive Board member responsible for the Asian business of the group. "This project will enable us to strengthen our position as the leading gases and engineering company in China."

The two plants, which are to be built by Linde’s Engineering Division, each have a capacity of 55,000 normal cubic metres of oxygen per hour. They are expected to come on stream between end 2013 and at the start of 2014, when they will supply oxygen and nitrogen to Yantai Wanhua’s production plants. In addition, Linde will produce liquefied products for the open market in the Shandong region. The project includes the construction of a 20-kilometre pipeline in the Yantai Economic and Technology Park.

Yantai Wanhua is the only Chinese company which has the technical know-how to produce MDI. MDI is an intermediate product in the manufacture of polyurethane, which is used in large quantities for example in the construction and automobile industries. China is in the process of becoming one of the principal markets for MDI. The Shandong province in the east of China is the third largest province in China in terms of gross domestic product.

The Linde Group is a world-leading gases and engineering company with around 49,100 employees working in more than 100 countries worldwide. In the 2010 financial year, it achieved sales of 12.868 billion euro. The strategy of The Linde Group is geared towards sustainable earnings-based growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment – in every one of its business areas, regions and locations across the globe. Linde is committed to technologies and products that unite the goals of customer value and sustainable development.

For more information, see The Linde Group online at http://www.linde.com

• Group sales grow 11.0 percent to EUR 6.774 bn

• Group operating profit* up 11.7 percent to EUR 1.559 bn

• Group operating margin rises to 23.0 percent (2010: 22.9 percent)

• Increase in earnings per share from EUR 2.63 to EUR 3.32

• Outlook for 2011 confirmed:

  • Group: growth in sales and earnings

  • Gases Division: sales growth and earnings increasing at a faster rate than sales

  • Engineering Division: sales constant, operating margin of at least 10 percent

Munich, 29 July 2011 – The technology company The Linde Group continued to achieve profitable growth in the first half of 2011. "We are well on our way," said Professor Dr Wolfgang Reitzle, Chief Executive Officer of Linde AG. "We've seen a strengthening of demand in both our gases business and our engineering business worldwide." Reitzle is also confident about the coming months: "We will continue to benefit from the growth areas energy and health and from consistently dynamic trends in the emerging economies, especially in Asia. We confirm our outlook and expect to achieve growth in Group sales and Group operating profit in the 2011 financial year compared with the prior year."

In the first half of 2011, Group sales rose by 11.0 percent to EUR 6.774 bn, compared with sales in the first half of 2010 of EUR 6.104 bn. After adjusting for exchange rate effects, the increase in sales was 10.3 percent. Linde is continuing the rigorous implementation of its HPO (High Performance Organisation) programme, a holistic concept for sustainable process optimisation and productivity gains, and increased Group operating profit* by 11.7 percent to EUR 1.559 bn (2010: EUR 1.396 bn). The Group operating margin rose to 23.0 percent (2010: 22.9 percent).

Earnings before taxes on income (EBT) climbed to EUR 792 m, exceeding the comparable prior-year figure of EUR 646 m by 22.6 percent. Earnings after tax rose 23.8 percent to EUR 598 m (2010: EUR 483 m). After adjusting for non-controlling interests, earnings attributable to Linde AG shareholders were EUR 566 m (2010: EUR 445 m). Earnings per share increased as a result by 26.2 percent to EUR 3.32 (2010: EUR 2.63). On an adjusted basis, i.e. after adjusting for the effects of the purchase price allocation from the BOC acquisition, earnings per share stood at EUR 3.79 (2010: EUR 3.15).

Gases Division

During the reporting period, the general economic recovery also fuelled demand for gases worldwide. Linde was able to benefit from this positive trend in all product areas, due to the Group's global footprint and its strong market position in the emerging economies.

Sales in the Gases Division in the first six months of 2011 grew 10.2 percent to EUR 5.436 bn, compared with sales in the first six months of 2010 of EUR 4.931 bn. On a comparable basis, i.e. after adjusting for exchange rate effects, changes in the price of natural gas and changes to Group structure, the increase in sales was 8.5 percent.

Operating profit in the Gases Division rose 10.9 percent to EUR 1.483 bn (2010: EUR 1.337 bn). One of the factors contributing to the increase was the strict implementation of Linde's HPO measures. The operating margin rose to 27.3 percent, exceeding the high figure achieved in the first six months of 2010 of 27.1 percent.

Business trends in the individual operating segments of the Gases Division make it clear that the pace of economic recovery still varies from region to region. In the first six months of 2011, the highest growth rates were once again to be seen in the emerging economies of Asia, especially China, and in South America. At the same time, the economic recovery continued in the more mature markets such as the US and Western Europe.

In the EMEA operating segment (Europe, Middle East and Africa), Linde achieved sales growth of 8.1 percent in the first half of 2011 to EUR 2.824 bn (2010: EUR 2.613 bn). On a comparable basis, the growth in sales was 5.9 percent. Operating profit again increased at a faster rate than sales, rising 9.5 percent to EUR 807 m (2010: EUR 737 m). This resulted in an operating margin of 28.6 percent (2010: 28.2 percent). Here too, the rigorous implementation of the various productivity improvement and process standardisation initiatives under the HPO programme made a positive contribution.

Linde achieved a double-digit growth rate in the Asia/Pacific operating segment due to continued economic dynamism in Asia and its leading position in those markets. In the first six months of 2011, sales in this region grew 17.5 percent to EUR 1.473 bn (2010: EUR 1.254 bn). On a comparable basis, the increase in sales was 11.2 percent. Operating profit rose by 15.3 percent to EUR 406 m (2010: EUR 352 m). The operating margin for the six months to 30 June 2011 was 27.6 percent (2010: 28.1 percent). When comparing the operating margin for the first half of 2011 with that for the first half of 2010, factors to be taken into account are the pass-through of increases in the price of natural gas and the preliminary investment required for infrastructure expansion and the employment of new staff in the dynamic Chinese market. To sustain steady profitability, Linde is continuing here too with the rigorous implementation of the HPO concept.

In the Americas operating segment, sales in the first half of 2011 grew 7.1 percent to EUR 1.173 bn (2010: EUR 1.095 bn). On a comparable basis, the increase in sales was higher, at 11.8 percent. Operating profit improved by 8.9 percent to EUR 270 m (2010: EUR 248 m). Factors contributing to this increase in earnings, apart from higher volumes, were the progress made by Linde in the implementation of HPO and positive one-off effects in the first quarter of 2011. The operating margin rose to 23.0 percent (2010: 22.6 percent).

The performance in the individual product areas reflects the overall positive trend in the Gases Division. The highest rate of growth was in the on-site business, where Linde supplies gases on site to major customers. Boosted by the continuous ramp-up of plants which came on stream in the third and fourth quarters of 2010 and by the start-up of new plants, sales in this product area rose on a comparable basis by 11.4 percent to EUR 1.331 bn (2010: EUR 1.195 bn). The upward trend in Linde’s liquefied gases and cylinder gas business continued to accelerate. Cylinder gas sales grew 8.0 percent to EUR 2.224 bn (2010: EUR 2.060 bn). Sales of liquefied gases in the first six months of 2011 increased by 7.8 percent to EUR 1.297 bn (2010: EUR 1.203 bn). The Healthcare product area (the medical gases business and related maintenance and advisory services) again saw steady growth, achieving sales of EUR 584 m, an increase of 5.4 percent over the figure for the first half of 2010 of EUR 554 m.

Gases Division – Outlook

Linde remains committed to its original target in the gases business of growing at a faster pace than the market and continuing to improve productivity. In the on-site business, Linde has a full project pipeline which will make a significant contribution to sales and earnings in the 2011 financial year. The liquefied gases and cylinder gas business is set to benefit from the ongoing economic recovery. Linde expects positive business trends in the Healthcare product area to continue, with a higher rate of sales growth than in 2010. Against this background, Linde anticipates that sales generated by the Gases Division in the 2011 financial year will exceed sales achieved in 2010 and that operating profit will grow at a faster pace than sales.

Engineering Division

The market environment in the international large-scale engineering business continued to stabilise in the course of the first half of 2011.

Sales in the Engineering Division in the first six months of 2011 increased by 12.0 percent to EUR 1.226 bn (2010: EUR 1.095 bn). The continuing successful execution of a number of individual projects meant that operating profit grew at a faster rate than sales, rising 14.6 percent to EUR 141 m (2010: EUR 123 m). The operating margin was 11.5 percent (2010: 11.2 percent).

Order intake in the first half of 2011 was EUR 1.149 bn, 19.4 percent above the figure for the first half of 2010 of EUR 962 m. In the second quarter of 2011, two major orders from China and Indonesia had a significant impact on order intake. The first of these orders, to supply a hydrogen and synthesis gas plant commissioned by Linde's Gases Division in the Chongqing Chemical Park, was worth around EUR 200 m. The second order, worth EUR 88 m, was for Linde to build an air separation plant to supply gases to the steel company PTKP in Indonesia.

In addition to these major orders, order intake was characterised by a number of small and medium-sized new orders, as in previous quarters. Linde's order backlog remains high. At 30 June 2011, it stood at EUR 3.763 bn (31 December 2010: EUR 3.965 bn).

Together with its project partner SBM Offshore (Netherlands), Linde's Engineering Division entered into a cooperation agreement during the reporting period with the Thai oil group PTT (Petroleum Authority of Thailand) to develop a floating natural gas liquefaction plant in the Timor Sea off the northern coast of Australia. The project will involve the conversion of natural gas from three gas fields into LNG (Liquefied Natural Gas). If the gas reserves meet expectations, the project will move into the front-end engineering and design phases by the end of 2011. The final investment decision would be made at the end of 2012. Commercial production would be expected to commence at the end of 2016.

Engineering Division – Outlook

The high order backlog provides a good basis for a solid business performance in the Engineering Division over the next two years. Linde expects to achieve the same level of sales in its engineering business in the 2011 financial year as in 2010. Given the positive trends in the first half of the year, the Group expects to achieve an operating margin in the current financial year of at least 10 percent. In the medium term, the target for the operating margin continues to be 8 percent.

Linde is well-positioned in the market for olefin plants, natural gas plants, air separation plants and hydrogen and synthesis gas plants and will derive lasting benefit in particular from investment in the two structural growth areas: energy and the environment.

To coincide with the publication of the quarterly financial statements, a teleconference for analysts will take place today at 2pm (German time) in English with Georg Denoke, CFO of Linde AG. Journalists will have the opportunity to listen to the conference live by dialling +49.69.589.99-0509 . Please give the reference number 894634 and tell the operator your name and the name of your company. Following the teleconference, you will be able to hear a recording of the event by calling +49.30.726.16-7224 . Please give the reference number 894634.

The Linde Group is a world-leading gases and engineering company with around 49,100 employees working in more than 100 countries worldwide. In the 2010 financial year, it achieved sales of EUR 12.868 bn. The strategy of The Linde Group is geared towards sustainable earnings-based growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment – in every one of its business areas, regions and locations across the globe. Linde is committed to technologies and products that unite the goals of customer value and sustainable development.

For more information, see The Linde Group online at http://www.linde.com

Berlin, 20 June 2011 – Shell Deutschland Oil GmbH opened their first demonstration hydrogen station in Germany today. It is located on the premises of Shell’s Sachsendamm service station in Berlin. The installation is equipped with innovative refuelling technology from Linde. The hydrogen to be dispensed there comes from a Linde pilot plant in Leuna which uses crude glycerol as feedstock.

Olaf Reckenhofer, responsible for Linde’s gases business in Germany, Austria and Switzerland, said: "The highly efficient cryo-pump system developed by Linde makes this installation the top performing hydrogen refuelling station in the world. Together with the certified green hydrogen supplied by us, this is a trailblazing fuelling concept that will bring us forward on the road to sustainable transportation."

The demonstration station is part of Shell’s research and development programme for hydrogen technology and was established within the scope of the "Clean Energy Partnership" (CEP). The objective is to evaluate the technology and learn valuable lessons about costs, consumer behaviour, how to store hydrogen safely and dispense it efficiently to different vehicles – such as passenger cars and buses.

“We’re proud to play an active role in the research and development of hydrogen technologies in the transport sector. Hydrogen-fuelled transportation can make a long-term contribution towards lowering road transport emissions,” said Peter Blauwhoff, Country Chair of Deutsche Shell Holding when the demonstration station was officially opened in Berlin.

The demonstration station in Berlin has the capacity to fill about 250 hydrogen-fuelled vehicles per day. However, the service station will predominantly be used for demonstration and research purposes, and for the time being an average of about 20 vehicles are to be filled there per day.

"Our aim is to improve the vehicles in terms of their efficiency, performance and reliability, to boost the production and distribution of hydrogen and to continually expand the network of service stations. This demonstration station is a further milestone en route to the hydrogen society," said Patrick Schnell, Chair of the CEP.

The Linde Group is a world-leading gases and engineering company with around 48,700 employees working in more than 100 countries worldwide. In the 2010 financial year, it achieved sales of EUR 12.868 bn. The strategy of The Linde Group is geared towards sustainable earnings-based growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment – in every one of its business areas, regions and locations across the globe. Linde is committed to technologies and products that unite the goals of customer value and sustainable development.

For more information, see The Linde Group online at http://www.linde.com

Contact:

Dr Thomas Hagn
Phone: +49.89.35757-1323 
E-Mail: thomas.hagn@linde.com

• Joint project agreed to build 20 hydrogen (H₂) filling stations in Germany
• Significant contribution for Germany as the lead market for electromobility
• Major impetus for existing H₂ infrastructure initiatives

Stuttgart/Munich, 1 June 2011 – Car manufacturer Daimler and technology company The Linde Group are pressing ahead with the development of an infrastructure for hydrogen-powered fuel-cell vehicles. Over the coming three years, the two companies plan to construct an additional 20 hydrogen filling stations in Germany, thereby ensuring a supply of hydrogen produced purely from renewable resources for the steadily increasing number of fuel-cell vehicles on the roads. The initiative links in with the existing H₂ Mobility and Clean Energy Partnership infrastructure projects, which are being subsidised by the National Innovation Programme for hydrogen and fuel-cell technology (NIP). This places Germany at the international forefront of hydrogen infrastructure development.

The initiative that Linde and Daimler are embarking upon involves investment running into the tens of millions, and is set to more than triple the number of public hydrogen refuelling points in Germany. The new stations will be located in the current hydrogen centres of Stuttgart, Berlin and Hamburg as well as along two new continuous north-south and east-west axes. The aim is to use existing sites belonging to different petroleum companies that are strategically located in the traffic network. This will make it possible to drive anywhere in Germany with a fuel-cell-powered vehicle for the first time. One of the focal points for the infrastructure's extension will be in Baden-Württemberg, where, 125 years after the invention of the motor car, the stage is being set for its reinvention.

"Together with the fuel cell, hydrogen is set to be of fundamental importance to the expansion of electromobility," explained Prof. Dr. Wolfgang Reitzle, Chief Executive Officer of Linde AG. "We are delighted to be able to play such an instrumental role in shaping this development together with Daimler. We see ourselves as providing an impetus for existing initiatives, such as H₂ Mobility and the Clean Energy Partnership (CEP), and wish to support the commercialisation of hydrogen vehicles as best we can. By systematically developing hydrogen technology, Germany can assume a pioneering role in this field and establish itself as the industry leader as we move towards emission-free mobility."

"The fuel cell represents a decisive step forward for electromobility, as it enables zero-emission driving with high ranges and short refuelling times – and not just for passenger cars, but for commercial vehicles, too. In partnership with Linde, we are now taking the next step by getting things going on the infrastructure side. 20 new hydrogen filling stations will give the market a major stimulus," remarked Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars at the finish of the Mercedes-Benz F-CELL World Drive in Stuttgart. Having started off from Stuttgart at the end of January, the first circumnavigation of the globe in fuel-cell vehicles took in four continents and 14 countries. Each of the vehicles involved covered over 30,000 kilometres. Linde accompanied the F-CELL World Drive as the exclusive hydrogen partner, providing the zero-emission vehicles with a mobile supply of hydrogen for the duration of the tour.

Construction and commissioning of the new filling stations will already start in 2012. Other partners from the petroleum, power supply or automotive industries, for instance, are welcome to become involved in the joint initiative that has been set up by Daimler and Linde.

Background: the infrastructure of hydrogen filling stations in Germany

The successful introduction of fuel-cell vehicles depends on the development of a public hydrogen supply infrastructure. The first centres have already sprung up in large metropolitan areas, such as Berlin and Hamburg. There are nearly 30 hydrogen refuelling points in Germany at the current time, seven of which are integrated into a public filling station facility. This means that Germany clearly leads the way in Europe. To begin with, just five to ten filling stations are sufficient for conveniently servicing the requirements of a large city. Joining up these urban centres – for example Berlin with Hamburg, Stuttgart with Munich – by means of corridors along the arterial roads between them is a major step forward towards the establishment of a nationwide public H₂ infrastructure.

The Linde Group is a world-leading gases and engineering company with around 48,700 employees in more than 100 countries worldwide. In the 2010 financial year, it achieved sales of EUR 12.868 bn. The strategy of The Linde Group is geared towards sustainable earnings-based growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment – in every one of its business areas, regions and locations across the globe. Linde is committed to technologies and products that unite the goals of customer value and sustainable development.

For more information, see The Linde Group online at http://www.linde.com

About Daimler: The company's founders, Gottlieb Daimler and Carl Benz, made history with the invention of the motor car in the year 1886. 125 years later, in the anniversary year of 2011, Daimler AG is one of the world’s most successful automotive companies. With its divisions Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses and Daimler Financial Services, the Daimler Group is one of the biggest producers of premium cars and the world’s biggest manufacturer of commercial vehicles with a global reach. Daimler Financial Services provides its customers with a full range of automotive financial services, including financing, leasing, insurance and fleet management. As an automotive pioneer, Daimler continues to shape the future of mobility today. The company applies innovative and green technologies to produce safe and superior vehicles which fascinate and delight its customers. When it comes to the development of alternative drive systems, Daimler is the only automotive manufacturer investing in all three technologies of hybrid drive, electric motors and fuel cells, with the goal of achieving emission-free mobility in the long term. This is just one example of how Daimler willingly accepts the challenge of meeting its responsibility towards society and the environment. Daimler sells its vehicles and services in nearly all the countries of the world, and has production facilities on five continents. In addition to Mercedes-Benz, the world’s most valuable automotive brand, Daimler’s brand portfolio includes smart, Maybach, Freightliner, Western Star, BharatBenz, Fuso, Setra, Orion and Thomas Built Buses. The company is listed on the Frankfurt and Stuttgart stock exchanges (stock exchange symbol DAI). In 2010, the Daimler Group sold 1.9 million vehicles and employed a workforce of over 260,000 people; revenue totalled €97.8 billion and EBIT amounted to €7.3 billion.

Further information from Daimler is available on the internet:
www.media.daimler.com and www.daimler.com

Linde AG

Munich, 16 May 2011 - Linde Gases, a division of The Linde Group, today announced that accreditation as a testing laboratory by the United Kingdom Accreditation Service (UKAS) was awarded to the company’s UK subsidiary, BOC. The internationally recognised ISO/IEC17025 accreditation is recognition of the organisation’s exceptionally high level of technical competence achieved in analytical testing and its ability to meet the very stringent standards set by UKAS. The accreditation also represents a significant extension to Linde’s current scope as a gas calibration laboratory. 

Linde has had a longstanding accreditation to produce and sell calibration gas mixtures for uses in highly regulated areas such as environmental monitoring, legal metrology and fiscal measurements. The extension to scope as a testing laboratory means the company can now offer customers, not only in the UK, but globally, sampling and testing services for certain aviation and breathing standards including liquid oxygen, liquid nitrogen and compressed air.

“We are delighted with this accreditation as a testing laboratory”, said Stephen Harrison, Head of Specialty Gases and Specialty Equipment, Linde Gases Division. “It validates our gas analysis competence to a highly sophisticated level and makes us one of an elite number of organisations to offer this type of gas analytics. Analytical capabilities drive change – resulting in improvements to the quality of the air we breathe, the food we eat and the environment around us. This accreditation reaffirms Linde’s place at the forefront of gas technology and as a pioneer in helping to improve safety and quality of life.”

About The Linde Group

The Linde Gases Division, part of the Linde Group, is a leader in the international industrial and healthcare gases markets, providing compressed, bulk, specialty and medical gases, as well as chemicals to virtually all fields of industry globally. The company adds value to its customers’ businesses through the provision of state-of-the-art application technology, process know-how, services and equipment.

The Linde Group is a world-leading gases and engineering company with around 48,700 employees working in more than 100 countries worldwide. In the 2010 financial year, it achieved sales of EUR 12.868 bn. The strategy of The Linde Group is geared towards long-term profitable growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment – in every one of its business areas, regions and locations across the globe. Linde is committed to technologies and products that unite the goals of customer value and sustainable development.

For more information, see The Linde Group online at http://www.linde.com.

Contact:

Susan Brownlow
Public Relations Manager
Telephone: +44.7825-853814

E-Mail: susan.brownlow@linde.com