Q1 2025 Linde PLC Earnings Call Transcript
Key Points
- Linde PLC (LIN) achieved an 8% growth in APS XFX and expanded operating margins by 120 basis points to 30.1%.
- The company maintained an industry-leading return on capital (ROC) at 25.7%.
- Linde PLC (LIN) has a strong backlog of $10 billion, with over $7 billion in sale of gas projects underpinned by long-term contracts.
- The company raised its annual dividend by 8%, marking 32 consecutive years of dividend growth.
- Linde PLC (LIN) continues to see attractive acquisition opportunities, contributing 1% to sales growth through packaged gas tuck-ins in North America.
- Linde PLC (LIN) experienced a 1% decline in volumes, primarily driven by seasonal factors and weaker trends in certain packaged gas markets.
- The company faces challenges from lower helium and rare gas prices, particularly impacting the APAC region.
- Industrial activity remains sluggish in most geographies, dragging down base volumes.
- The American segment is experiencing mixed results, with weakness in Canada and US package gases due to manufacturing uncertainty.
- Linde PLC (LIN) anticipates more volatility in end market trends due to rapid changes in global trade policy.
Ladies and gentlemen, good day and thank you for standing by. Welcome to the Linde first quarter 2025 earnings call and webcast. (Operator Instructions) Please be advised that today's conference is being recorded. After the speaker's presentation, there will be a question-and-answer session.
I would now like to hand the conference over to Mr. Juan Pelaez, Head of Investor Relations. Please go ahead, sir.
Hi. Thank you. Good morning, everyone, and thanks for attending our 2025 first quarter earnings call webcast. I'm Juan Pelaez, Head of Investor Relations, and I'm joined this morning by Sanjiv Lamba, Chief Executive Officer, and Matt White, Chief Financial Officer.
Today's presentation materials are on our website at the linde.com in the investor section. Please read the forward-looking statement disclosure on page 2 of the slides and note that it applies to all statements made during this talk conference.
The reconciliation of the adjusted numbers are in the appendix to this
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