MOSCOW (MRC) -- Linde’s fourth-quarter 2021 adjusted operating profit rose by 14% year on year, driven by higher pricing, strong volumes and productivity initiatives, said the company.
Sales revenue was also up by 14% on higher pricing and volumes, mostly from the electronics, chemicals and energy end markets. "The Linde team delivered another quarter of record financial results by growing EPS [earnings per share] 20%, operating cash flow 33% and increasing ROC [return on capital] to 17.7% - all while positioning the company for future growth with a contractually secured project backlog of USD13bn," said CEO Steve Angel.
For the full year of 2021, sales increased by 13% to USD30.8bn while adjusted operating profit rose by 24% to USD7.2bn. Angel, who steps down as CEO next month, was optimistic on the company’s outlook. "Looking ahead, the economic outlook remains uncertain. However, I have confidence in our ability to grow EPS double-digit percent from our industry-leading supply network and project backlog," he said.
Linde has signed a long-term agreement with BASF to supply BASF’s planned hexamethylenediamine (HMDA) project in Chalampe, France, with hydrogen and steam. As part of the contract, Linde will design, build, own and operate a new hydrogen production facility at Chalampe, doubling its capacity there. The new Linde plant is expected onstream in the first half of 2024. Financial details were not disclosed.
We remind, BASF, SABIC and Linde have signed a joint agreement to develop and demonstrate solutions for electrically heated steam cracker furnaces. The partners have already jointly worked on concepts to use renewable electricity instead of the fossil fuel gas typically used for the heating process.
As per MRC, JSC SIBUR-Neftekhim and JSC Linde Gas Rus signed an agreement on the utilization of carbon dioxide formed in the technological process of SIBUR.
Linde is a global leader in the production, processing, storage and distribution of hydrogen. It has the largest hydrogen liquefaction capacity and gaseous hydrogen pipeline distribution system anywhere in the world. The company operates the world's first high-purity hydrogen storage cavern plus pipeline networks totaling approximately 1,000 kilometers globally, to reliably supply its customers. Linde is at the forefront in the transition to clean hydrogen and has installed 200 hydrogen fueling stations and 80 hydrogen electrolysis plants worldwide. The company offers the latest electrolysis technology through its world class engineering organization, key alliances and partnerships.