Linde plc Reports Stable Financial Performance with Increased Sales and Profit for Fiscal Year 2024

Linde plc reported a stable financial performance for the fiscal year ending December 31, 2024, with total sales reaching $33,005 million, a slight increase from $32,854 million in 2023. The company's operating profit rose to $8,635 million, an 8% increase from the previous year's $8,024 million. Net income for Linde plc was $6,565 million, translating to diluted earnings per share of $13.62, up from $6,199 million and $12.59, respectively, in 2023. The growth in profitability was primarily driven by higher pricing and productivity initiatives, which offset the impacts of cost inflation and currency translation.

In terms of operational changes, Linde's sales volume remained flat, with new project start-ups offset by declines in base volume. The Americas segment saw a 1% increase in sales to $14,442 million, while the EMEA segment experienced a 2% decline to $8,352 million. The APAC segment's sales increased by 1% to $6,632 million. The Engineering segment reported an 8% increase in sales, reaching $2,322 million. The company also noted a decrease in its employee headcount, which fell to 65,289 from 66,323 in the previous year, reflecting the impact of cost reduction programs and a divestiture in the APAC region.

Strategically, Linde made several acquisitions and divestitures during the year, spending $317 million on acquisitions, primarily in the packaged gas business in the Americas. This marked a significant decrease from $953 million in acquisitions in 2023, which included the notable acquisition of nexAir, LLC. The company also reported $170 million in divestiture proceeds, including a settlement with a supplier in the Americas. These strategic moves are part of Linde's ongoing efforts to optimize its portfolio and enhance operational efficiency.

Looking ahead, Linde's management expressed optimism about future growth, particularly in hydrogen sales, driven by increasing focus on decarbonization projects. The company anticipates continued demand for its industrial gases across various sectors, including healthcare, chemicals, and energy. Linde's robust cash flow from operations, which totaled $9,423 million, provides a solid foundation for future investments and shareholder returns, including $2,655 million in dividends paid and $4,451 million in share repurchases during the year. The company remains committed to maintaining its strong market position and exploring new growth opportunities in the industrial gases sector.