林德公司CEO桑吉夫·兰巴表示："当前绿氢尚未形成规模经济，具备成本竞争力仍需5~7年时间。" 氢能政策不确定性并非美国独有。欧盟《可再生能源指令Ⅲ》(REDⅢ)通过18个月后仍无成员国立法实 施，该指令要求2030年工业用氢中42%须为可再生氢，2035年该比例提升至60%。不过，美国绿氢本能 够成为欧盟可再生能源发展的关键。伍德赛德认为欧洲需大量进口氢/氨，而依托45Q政策的美国可成为 低碳氢和氨的主要供应方。 据标普全球商品洞察数据，由于"大而美"法案带来的一系列市场不确定性已使2025年一季度全球绿氢项 目取消或搁置产能达1500万吨/年，继续推进项目产能不足1200万吨/年。今年空气产品公司接连取消3 个大型氢项目：加州可持续航空燃料项目、纽约5亿美元绿氢设施以及英国Immingham港300兆瓦绿氢终 端。英国石油(BP)退出荷兰鹿特丹250兆瓦绿氢项目H2-Fifty，无限期搁置印第安纳蓝氢项目；壳牌终止 挪威Aukra低碳氢枢纽项目。 尽管有多个绿氢项目遭取消，IEA数据显示，2024年全球氢能投资仍增长了60%。若所有最终投资决策 (FID)项目顺利推进，2035年清洁氢年产能或达750万吨 ...

7月6日，记者从四川省商务厅获悉，日前由商务厅主办的中国（四川）—巴伐利亚州经贸文旅合作 交流会在德国慕尼黑举行。100余家德国和四川的重点企业、商协会负责人参加并开展现场对接，达成 签约项目33个、累计金额超90.82亿元，6个重点项目登台签约。 ●宝马、安联、西门子、林德气体等7家德国世界500强企业参加 ●签约项目涵盖货物贸易、服务贸易、工业投资、文化旅游、中医药等领域 33个签约项目涵盖货物贸易、服务贸易、工业投资、文化旅游、中医药等多个领域。6个现场签约 项目中，成都高新区管委会与德国梅塞尔集团签订工业气体投资合作，该项目将为京东方生产线提供超 纯氮气、高纯氧气等的纯化和供应装置，助力四川电子信息产业发展；四川润兆食品有限公司与德国 N25鱼子酱贸易公司达成合作，N25公司将依托其在全球尤其是欧洲市场的成熟销售网络，推动四川润 兆的鱼子酱产品进入米其林餐厅、五星级酒店等欧洲高端消费场景。 今年前5月，川德贸易进出口额达104.2亿元、同比增速进一步扩大到10.1%。如今，德国在川设立 投资企业180多家，成为四川在欧盟的重要贸易伙伴和投资来源地。（记者 陈碧红） 本次活动吸引宝马、安联、西门子、林德 ...

Key Takeaways Linde plc (LIN) has announced a long-term agreement to supply critical industrial gases to Blue Point Number One, a joint venture (JV) between CF Industries, JERA, and Mitsui & Co., for its upcoming low-carbon ammonia plant in Ascension Parish, LA. The world-scale facility, projected to produce 1.4 million metric tons of low-carbon ammonia annually, is set to be one of the largest of its kind globally. LIN to Build Major ASU for Blue Point Project As part of the agreement, Linde will invest ov ...

Linde (NASDAQ: LIN ) is a global company that manufactures industrial gases. The company has demonstrated strength against the current macroeconomic trends that have plagued many others (I am talking about tariffs and inflation). One reason could be that theI am an investor with over 7 years of experience in the financial markets. Currently pursuing an MBA from the University of Illinois at Urbana-Champaign, where I specialize in Finance and Marketing, my academic background has equipped me with a strong fo ...

Core Viewpoint - Linde plc is expected to benefit from the construction of new manufacturing facilities in the U.S., particularly due to the impact of TSMC's Phoenix facility, leading to a positive outlook for the company's business growth [1]. Company Analysis - Linde plc has been reiterated with a Buy rating, indicating confidence in its growth potential and market position [1]. - The company is positioned well in niche markets, which are anticipated to experience strong growth [1]. Investment Strategy - The investment approach focuses on fundamental, bottom-up analysis with a long-term perspective, emphasizing quality growth-oriented companies [1]. - A target of achieving a 15% annual return is set, with a diversified portfolio of 15-20 stocks to manage risk effectively [1].

Linde plc (LIN) reported first-quarter 2025 adjusted earnings per share (EPS) of $3.95, which surpassed the Zacks Consensus Estimate of $3.93. The bottom line also improved from the year-ago quarter’s figure of $3.75.Total quarterly revenues of $8,112 million missed the Zacks Consensus Estimate of $8,258 million. However, the top line increased from the year-ago quarter’s level of $8,100 million. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)The strong quarterly earnings were prim ...

Linde (LIN) reported $8.11 billion in revenue for the quarter ended March 2025, representing a year-over-year increase of 0.2%. EPS of $3.95 for the same period compares to $3.75 a year ago.The reported revenue represents a surprise of -1.77% over the Zacks Consensus Estimate of $8.26 billion. With the consensus EPS estimate being $3.93, the EPS surprise was +0.51%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectat ...

Financial Performance - For Q1 2025, Linde's sales were $8,112 million, flat compared to Q1 2024, with a 2% increase from higher price attainment and a 1% increase from acquisitions [103]. - Adjusted operating profit for Q1 2025 was $2,438 million, a 4% increase from Q1 2024, driven by higher pricing and productivity initiatives [106]. - Reported net income for Linde plc increased by $46 million, or 3%, in Q1 2025 compared to Q1 2024, driven by higher operating profit [123]. - Diluted earnings per share rose to $3.51 in Q1 2025, a 5% increase from $3.35 in Q1 2024, attributed to higher net income and lower diluted shares outstanding [124]. - EBITDA for Q1 2025 was $3,132 million, up from $3,092 million in Q1 2024, reflecting higher operating profit [126]. - Reported operating profit for Q1 2025 was $2,184 million, a 4% increase from $2,095 million in Q1 2024 [163]. - Adjusted net income for Q1 2025 was $1,880 million, compared to $1,821 million in Q1 2024, reflecting a 3% increase [164]. - Adjusted diluted EPS for Q1 2025 was $3.95, up from $3.75 in Q1 2024, representing a 5% increase [165]. - EBITDA for Q1 2025 was $3,132 million, with an adjusted EBITDA of $3,213 million, reflecting 39.6% of sales [165]. Expenses and Cost Management - Selling, general and administrative expenses decreased by $74 million, or 9%, in Q1 2025, representing 9.7% of sales compared to 10.6% in Q1 2024 [111]. - Cost of sales, exclusive of depreciation and amortization, decreased by $59 million, or 1%, for Q1 2025, with costs representing 51.2% of sales [110]. - The number of employees decreased to 65,069 in Q1 2025, down by 1,126 from the previous year, primarily due to ongoing cost reduction programs [125]. Taxation - The effective tax rate for Q1 2025 was 23.4%, up from 22.3% in Q1 2024, primarily due to lower tax benefits from share-based compensation [105]. Cash Flow and Investments - Net cash provided by operating activities for the first quarter was $2,161 million, compared to $1,954 million in 2024 [152]. - Capital expenditures for the first quarter were $1,270 million, an increase from $1,048 million in 2024 [152]. - Cash provided by operations for Q1 2025 was $2,161 million, an increase of $207 million or 11% compared to Q1 2024 [153]. - Net cash used for investing activities was $1,369 million in Q1 2025, up $328 million from the previous year, primarily due to higher capital expenditures of $1,270 million [154]. - The company reported a net cash decrease from financing activities of $388 million, an improvement from a decrease of $668 million in 2024 [152]. - Cash used for financing activities decreased to $388 million in Q1 2025 from $668 million in Q1 2024, with cash provided by debt increasing to $1,493 million [157]. Segment Performance - The Americas segment reported sales of $3,666 million, up 3% from $3,560 million in 2024, with operating profit increasing by 5% to $1,137 million [131][132]. - EMEA segment sales decreased by 3% to $2,031 million, while operating profit increased by 5% to $722 million, driven by higher pricing [134][138]. - APAC segment sales fell by 3% to $1,539 million, with operating profit increasing by 1% to $451 million, primarily due to productivity initiatives [139][142]. - Engineering segment sales rose by 5% to $565 million, with operating profit increasing by 14% to $114 million, attributed to project timing [143][145]. - Other segment sales decreased by 3% to $311 million, with operating profit declining by 26% to $14 million, impacted by higher helium costs [146][149]. Comprehensive Income and Backlog - Other comprehensive income for Q1 2025 was $131 million, mainly from currency translation adjustments of $134 million [128]. - As of March 31, 2025, Linde's gas backlog for large projects under construction was approximately $7.0 billion [155]. - Acquisitions net of cash acquired totaled $112 million in Q1 2025, mainly in the Americas and APAC regions [156]. Balance Sheet Highlights - Current assets increased to $8,561 million at the end of March 2025, up from $7,827 million at the end of December 2024 [181]. - Long-term liabilities rose to $68,980 million at the end of March 2025, compared to $64,848 million at the end of December 2024 [181]. - The amount due from non-guarantor subsidiaries in current assets was $4,542 million as of March 31, 2025 [181]. - The amount due to non-guarantor subsidiaries in current liabilities was $1,888 million as of March 31, 2025 [181]. - Transactions with non-guarantor subsidiaries amounted to $833 million for the three months ended March 31, 2025, and $7,177 million for the twelve months ended December 31, 2024 [181]. Future Outlook - The company is expected to provide further discussions on market risk in its 2024 Annual Report on Form 10-K [182].

Linde (LIN) Q1 2025 Earnings Call May 01, 2025 09:00 AM ET Speaker0 Ladies and gentlemen, good day and thank you for standing by. Welcome to the Linde First Quarter twenty twenty five Earnings Call and Webcast. At this time, all participants are in a listen only mode. Please be advised that today's conference is being recorded. After the speakers' presentation, there will be a question and answer session. I would now like to hand the conference over to Mr. Juan Filaes, Head of Investor Relations. Please go ...

Linde (LIN) Q1 2025 Earnings Call May 01, 2025 09:00 AM ET Company Participants Juan Pelaez - Vice President of Investor RelationsSanjiv Lamba - CEO & Member of Board of DirectorsMatt White - EVP & CFOMichael Leithead - Director - Equity ResearchSteven Haynes - Vice President, Equity ResearchDavid Begleiter - Managing DirectorPeter Clark - Head of Global Chemicals Equity ResearchLaurent Favre - Managing DirectorMichael Sison - Managing DirectorJohn Roberts - Managing DirectorKevin McCarthy - PartnerJosh Spe ...