Company: LIN
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001628280-25-037164
Chunk: 95

Company: LINDE PLC
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 2
Chunk 95
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2)%Operating profit$490 $474 3 %$941 $921 2 %As a percent of sales29.6 %28.6 %29.5 %28.4 %

 Quarter Ended June 30, 2025 vs. 2024Six Months Ended June 30, 2025 vs. 2024 % Change% ChangeFactors Contributing to Changes - SalesVolume/Equipment(1)%(1)%Price/Mix— %— %Cost pass-through(1)%(1)%Currency— %(1)%Acquisitions/divestitures2 %1 %— %(2)%

The APAC segment includes Linde's industrial gases operations in approximately 15 Asian and South Pacific countries and regions including China, Australia, India, and South Korea.

Sales 

Sales for the APAC segment were flat in the second quarter and decreased $54 million, or 2%, for the six months ended June 30, 2025 versus the respective 2024 periods. Acquisitions increased sales by 2% in the quarter and increased 1% in the year-to-

31

date period. Price was flat in the quarter and year-to-date periods. Volumes decreased sales by 1% in the quarter and year-to-date periods as base volume declines primarily in the manufacturing end market were partially offset by new project start-ups. Currency translation was flat in the quarter and decreased sales by 1% year to date, primarily due to the weakening of the Korean won and Australian dollar against the U.S. dollar. Cost pass-through decreased sales by 1% in both the second quarter and year-to-date periods with minimal impact on operating profit.

Operating profit 

Operating profit in the APAC segment increased $16 million, or 3%, in the second quarter and increased $20 million, or 2%, for the six months ended June 30, 2025, driven primarily by productivity initiatives, which more than offset cost inflation and lower volumes. 

Engineering

 Quarter Ended June 30,Six Months Ended June 30,(Millions of dollars)20252024Variance20252024VarianceSales$551 $544 1 %$1,116 $1,083 3 %Operating profit$90 $96 (6)%$204 $196 4 %As a percent of sales16.3 %17.6 %18.3