DGAP-News

Linde plc: Linde Reports First-Quarter 2021 Results (Earnings Release Tables Attached)

DGAP-News: Linde plc / Key word(s): Quarter Results Linde plc: Linde Reports First-Quarter 2021 Results (Earnings Release Tables Attached) (news with additional features) 06.05.2021 / 11:59 The issuer is solely responsible for the content of this announcement. Linde Reports First-Quarter 2021 Results

Financial Highlights

• Sales $7.2 billion, up 7% versus prior-year quarter
• Operating profit $1.2 billion; adjusted operating profit $1.7 billion, up 25%
• Operating profit margin 16.7%; adjusted operating profit margin 23.3%, up 320 basis points
• EPS $1.86; adjusted EPS $2.49, up 32%
• Strong operating cash flow $2.1 billion, up 57%
• Increased full-year 2021 adjusted EPS guidance to $9.60 - $9.80, represents 17% to 19% growth year-over-year

Guildford, UK, May 6, 2021 - Linde plc (NYSE: LIN; FWB: LIN) today reported first-quarter 2021 income from continuing operations of $979 million and diluted earnings per share of $1.86, an increase of 74% versus prior year. Excluding Linde AG purchase accounting impacts and other charges, adjusted income from continuing operations was $1,312 million, up 30% versus prior year and 8% sequentially. Adjusted earnings per share was $2.49, 32% above prior year and 8% higher sequentially.

Linde's sales for the first quarter were $7,243 million, 7% above prior year and flat sequentially. Compared to prior year, underlying sales increased 5%, including 2% price attainment and 3% higher volumes, led by healthcare, electronics and a recovery in the cyclical end markets of manufacturing, metals, chemicals and refining. Sequentially, underlying sales increased 2% driven by higher volume and price.

First-quarter operating profit was $1,213 million. Adjusted operating profit of $1,688 million was up 25% versus prior year led by higher price and continued productivity initiatives across all segments. Adjusted operating margin of 23.3% expanded 320 basis points versus prior year and 110 basis points sequentially.

First-quarter operating cash flow of $2,109 million increased 57% versus prior year. After capital expenditures of $762 million, free cash flow was $1,347 million, up 148% versus prior year. During the quarter, the company returned $1,404 million to shareholders through dividends and stock repurchases, net of issuance.