Linde

Linde (NYSE: LIN) is a leading global industrial gases and engineering company headquartered in Woking, UK. The company was formed in 2018 through the merger of Linde AG and Praxair.

Linde produces and distributes atmospheric and process gases such as oxygen, nitrogen, argon, hydrogen, and helium for various industries including chemicals, food and beverage, electronics, healthcare, manufacturing, and metals and mining. The company operates through two main business segments:

• Gases Division: Supplies industrial gases via pipeline (Onsite), tanker trucks (Bulk), and gas cylinders (Packaged Gas) to meet customer demands of different scales. This segment accounted for approximately 72% of total revenues in 2023.

• Project Engineering Division: Designs, supplies and installs air separation units, nitrogen plants, and other gas-related infrastructure projects for industrial customers. This segment made up about 28% of 2023 revenues.

Linde has an extensive production and distribution network globally, with over 1,000 air separation plants and a pipeline network spanning over 1,000 kilometers in key industrial regions. The company serves customers in over 100 countries worldwide.

In 2023, Linde reported total revenues of USD 33 billion and adjusted earnings per share growth of 14-15%. The company has demonstrated consistent profitability and earnings growth in recent years, driven by pricing discipline, productivity initiatives, and growth in key end markets. Linde maintains a strong project backlog valued at USD 7.8 billion as of Q2 2023, providing visibility into future growth.

Linde is committed to sustainability and has set targets to reduce greenhouse gas emissions intensity. The company's products and technologies help customers improve energy efficiency and reduce emissions across various industries. In 2022, Linde's applications enabled customers to avoid more than 90 million metric tons of CO2 emissions.