DGAP-Adhoc

Linde AG: Linde recognises impairment losses and adjusts its growth targets to reflect the weakening in the economic outlook

Linde AG / Key word(s): 9-month figures

30.10.2014 06:30

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Linde recognises impairment losses and adjusts its growth targets to
reflect the weakening in the economic outlook

Munich, 30 October 2014: In the third quarter of 2014, Linde AG recognised
impairment losses of EUR 229 m, which had an adverse impact on earnings for
the nine months to 30 September 2014. The impairment losses were required
due to changed conditions in some regions in the Gases Division.

Given these impairment losses, Linde will no longer be able to achieve the
target it had set itself for the 2014 financial year of around 10 percent
for return on capital employed (reported ROCE). The Group now expects to
achieve a similar level of Group operating profit (EBIT before
non-recurring items adjusted for the amortisation of intangible assets and
the depreciation of tangible assets) in the 2014 financial year as in 2013,
after adjusting for exchange rate effects. Until now, Linde had anticipated
that it would achieve a moderate improvement in Group operating profit.

As a result of reduced growth expectations for the global economy, the
Group has also adjusted its medium-term targets. Seen from today's
standpoint, Linde expects to achieve Group operating profit of EUR 4.5 bn
to EUR 4.7 bn and a reported ROCE of 11 percent to 12 percent in 2017,
based on current exchange rates. Linde had originally set itself the target
for 2016 of achieving Group operating profit of at least EUR 5 bn
(equivalent to around EUR 4.6 bn at current exchange rates) and a reported
ROCE of around 13 percent.

Linde Aktiengesellschaft
Klosterhofstr. 1
80331 Munich
www.linde.com
[e-mail]

ISIN: DE0006483001

For further information:

Media                                          Investor Relations

Uwe Wolfinger                                  Dr Dominik Heger

Telephone: [phone]                   Telephone: [phone]



Matthias Dachwald                              Bernard Wang

Telephone: [phone]                   Telephone: [phone]

30.10.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Linde AG
Klosterhofstraße 1
80331 München
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.linde.de
ISIN: DE0006483001
WKN: 648300
Indices: DAX
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München, Stuttgart; Freiverkehr in
Hannover; Terminbörse EUREX; SIX

End of Announcement DGAP News-Service

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