Company: LIN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021379
Chunk: 60

Company: LINDE PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 60
---
 pass-through increased sales by 1% in the quarter with minimal impact on operating profit. Currency translation decreased sales by 3% in the first quarter, driven primarily by the weakening of the Euro against the U.S. dollar. Volumes decreased sales by 3% in the quarter, primarily driven by the metals & mining and chemicals & energy end markets.  

Operating Profit

Operating profit for the EMEA segment increased by $35 million, or 5%, in the first quarter compared to the respective 2024 period. The increase in the first quarter was driven primarily by higher pricing and continued productivity initiatives, partially offset by cost inflation, lower volumes and currency translation. 

APAC

 Quarter Ended March 31,(Millions of dollars)20252024VarianceSales$1,539 $1,591 (3)%Operating profit$451 $447 1 %As a percent of sales29.3 %28.1 %

 Quarter Ended March 31, 2025 vs. 2024 % ChangeFactors Contributing to Changes - SalesVolume/Equipment(1)%Price/Mix— %Cost pass-through— %Currency(2)%Acquisitions/divestitures— %(3)%

The APAC segment includes Linde's industrial gases operations in approximately 20 Asian and South Pacific countries and regions including China, Australia, India, and South Korea.

Sales 

Sales for the APAC segment decreased $52 million, or 3%, in the first quarter versus the respective 2024 period. Currency translation decreased sales by 2% in the quarter, primarily due to the weakening of the Korean won and Australian dollar against the U.S. dollar. Volumes decreased sales by 1% in the quarter as base volume declines primarily in metals & mining 

29

and manufacturing were partially offset by new project start-ups. Price, cost pass-through and acquisitions & divestitures were flat in the first quarter. 

Operating profit 

Operating profit in the APAC segment increased $4 million, or 1%, in the first quarter driven primarily by productivity initiatives, which more than offset cost inflation and currency translation. 

Engineering

 Quarter Ended March 31,(Millions of dollars)20252024VarianceSales$565 $539 5 %Operating profit$114 $100 14 %As a percent of sales20.2 %18.6 %

 Quarter Ended March 31, 202