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Linde plc (symbol: LIN) is a global leader in the industrial gas sector, delivering critical gas products and technologies to a wide array of industries. Founded in Germany and headquartered in the United Kingdom since 2018, Linde operates in over 100 countries, providing atmospheric and process gases, including oxygen, nitrogen, argon, hydrogen, carbon dioxide, and helium. Linde's innovative solutions serve diverse markets such as chemicals, manufacturing, healthcare, and steelmaking.
In 2023, Linde generated approximately $33 billion in revenue, driven by a robust portfolio and strategic initiatives. The company reported a net income of $1,543 million for the fourth quarter alone and saw a 16% increase in diluted earnings per share to $3.16. Linde's operations are marked by efficiency and profitability, achieving an adjusted operating profit margin of 27.4% in the fourth quarter of 2023.
Linde's commitment to sustainable practices is evident in its projects and partnerships. The company continues to invest in clean hydrogen production and carbon capture technologies, essential for the energy transition. Recent expansions include increasing the capacity of its Mims, Florida facility by 50% and signing a long-term agreement with H2 Green Steel for a green steel production plant in Sweden.
Linde has also been recognized for its commitment to business integrity and ethics, receiving the 2024 World's Most Ethical Companies recognition from Ethisphere. This accolade marks Linde's fourth consecutive year on the list, highlighting its dedication to ethical practices and compliance.
Looking ahead, Linde is poised for continued growth and innovation. With a high-quality project backlog of $8.5 billion and a strategic focus on high-quality growth opportunities, the company expects robust earnings growth for years to come. For the full year 2024, Linde projects adjusted diluted earnings per share in the range of $15.25 to $15.65, reflecting an increase of 7% to 10% compared to the prior year.
Linde has entered into a long-term agreement with BorsodChem, a Hungarian chemical company, to supply nitrogen, oxygen, and compressed air to its complex in Kazincbarcika. The deal includes the construction of one of Hungary's largest air separation units, expected to be completed by the end of 2021. This initiative aims to support BorsodChem's expansion and meet the increasing demand for industrial gases in Hungary and neighboring countries. Linde's commitment to reliable gas supply is reiterated, alongside an opportunity to serve additional regional customers.
Linde (NYSE:LIN) has announced plans to build and operate the world's largest 24-megawatt PEM electrolyzer plant at the Leuna Chemical Complex in Germany. This facility will produce green hydrogen for industrial customers, utilizing Linde's extensive pipeline network. The plant is expected to fuel around 600 fuel cell buses, saving up to 40,000 tons of CO2 emissions annually. Construction is set to begin soon, with production scheduled for the second half of 2022. Linde's commitment supports EU climate strategies and affirms its leadership in the hydrogen sector.
Linde (NYSE: LIN) will release its fourth quarter 2020 financial results on February 5, 2021, at 06:00 EST. A conference call will follow at 10:00 EST, available to the public via webcast. The earnings report and presentation materials will also be accessible on the company's investor relations website. Linde, a leader in industrial gases, reported 2019 sales of $28 billion and serves diverse markets including healthcare and manufacturing. The company aims to enhance productivity and sustainability through its offerings.
Linde (NYSE:LIN) has partnered with Daimler Truck AG to innovate hydrogen refueling technology for fuel cell-heavy vehicles. This collaboration focuses on developing fueling technology utilizing subcooled liquid hydrogen (sLH2), enhancing on-board capacity, range, and energy efficiency. The prototype for the Mercedes-Benz GenH2 Truck, capable of exceeding 1,000 kilometers, is set for its initial refueling in Germany by 2023. Linde's extensive hydrogen capabilities position it as a leader in the transition to clean hydrogen, with nearly 200 fueling stations globally.
Linde (NYSE:LIN) has signed a memorandum of understanding with Snam to develop clean hydrogen projects and infrastructure in Europe. This collaboration aims to leverage both companies' technologies along the hydrogen value chain, enhancing production, distribution, and storage capabilities. Linde, a leader in hydrogen production, operates the largest liquid hydrogen capacity globally and runs numerous hydrogen fueling stations and electrolysis plants. This partnership aligns with the European Green Deal's goals and the European Hydrogen Strategy.
Linde reported its third-quarter 2020 results with a net income of $699 million and diluted EPS of $1.32. Adjusted EPS reached $2.15, marking an 11% year-over-year increase. The company achieved sales of $6,855 million, down 2% from last year but up 7% sequentially. Linde also reported a strong free cash flow of $1.1 billion, up 20%. Adjusted full-year EPS guidance was raised to $8.05 - $8.10, indicating anticipated 12% growth. Operating profit margins expanded significantly, reflecting solid operational management.
Linde has announced the production of green hydrogen at its Ontario, California plant, enhancing support for hydrogen mobility customers. The upgraded facility will supply green hydrogen compliant with California Air Resources Board standards, capable of fueling up to 1,600 vehicles daily and reducing CO2 emissions by 50,000 MT per year. With over 50 years experience in hydrogen production in southern California, Linde aims to lead the transition to clean hydrogen by expanding its capabilities.
Linde (NYSE:LIN) has secured a long-term agreement with Samsung Electronics to supply ultra-high purity industrial gases for its semiconductor facilities in Pyeongtaek, South Korea. This agreement strengthens Linde's role as a primary supplier, enhancing its partnership with Samsung, which spans over 42 years. The new facility will utilize advanced technologies to bolster chip design and production, catering to the growing semiconductor demand globally. Once operational, the Pyeongtaek site will represent Linde's largest supply location for an electronics client.
Linde plc (NYSE:LIN) has appointed Sanjiv Lamba as its new Chief Operating Officer, effective January 1, 2021. Lamba, who has been with Linde for 31 years in various roles including EVP APAC, will oversee multiple regional segments including the Americas, APAC, and EMEA, as well as Linde Engineering and Lincare. CEO Steve Angel expressed confidence in Lamba's ability to leverage digital initiatives and drive growth in healthcare, electronics, and clean energy.
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