Gas giant Linde sees profits more than triple in 2006

0 Comments | AFP, March, 2007

WIESBADEN, Germany (AFP) — German industrial gas giant Linde said Friday that bottom-line profits more than trebled last year, thanks to windfall gains from divestments, but also to a strong underlying performance.

Linde said in a statement it booked net profit of 1.838 billion euros (2.4 billion dollars) in 2006, up from 514 million euros a year earlier.

The figures included special items, such as gains from the sale of the fork-lift trucks division KION, Linde noted.

Stripped of those one-off items, operating profit, as measured by earnings before interest, tax, depreciation and amortisation (EBITDA), was up 30 percent at 2.216 billion euros, the statement said.

Sales increased by 30.8 percent to 12.439 billion euros. But they were also distorted...