Linde GmbH
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 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- 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 info@linde.com ISIN: DE0006483001 For further information:Media Investor Relations Uwe Wolfinger Dr Dominik Heger Telephone: +49.89.35757-1320 Telephone: +49.89.35757-1334 Matthias Dachwald Bernard Wang Telephone: +49.89.35757-1333 Telephone: 49.89.35757-132830.10.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Linde AG Klosterhofstraße 1 80331 München Germany Phone: +49.89.35757-01 Fax: +49.89.35757-1075 E-mail: info@linde.com 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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