DGAP-Ad hoc: Linde AG

DGAP-Adhoc: Linde AG: Linde adjusts its medium-term targets for 2017

Linde AG / Key word(s): Change in Forecast

30.11.2015 20:00

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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Linde adjusts its medium-term targets for 2017

Munich, 30 November 2015: The Linde AG informs that from today's perspective it will not achieve the target for 2017 of Return on Capital Employed (ROCE) of 11 to 12 percent and now expects ROCE to be between 9 and 10 percent.

The targeted Group operating profit for 2017 of EUR 4.5 to 4.7 bn is also not achievable and is expected to come in between EUR 4.2 to 4.5 bn.

The main reasons for the adjustments are substantially changed overall conditions compared to October 2014, when the targets were defined. On the one hand the growth rates of industrial production relevant for the industrial gases business have meanwhile been significantly reduced. Also the state-controlled price reductions in the US healthcare market in 2016 and 2017 are expected to be stronger than originally assumed. Moreover the Engineering Division will contribute less to Group operating profit than originally planned. Main reason is an expected lower order intake due to a medium-term low oil price resulting in investment hesitancy among customers.

The adjusted 2017 targets are based on current exchange rates.

Linde Aktiengesellschaft Klosterhofstr. 1 80331 Munich www.linde.com info@linde.com

ISIN: DE0006483001

For further information:

Media Investor Relations Ulrich Porwollik Dr Dominik Heger Telephone: +49.89.35757-1311 Telephone: +49.89.35757-1334

Matthias Dachwald Eva Frerker Telephone: +49.89.35757-1333 Telephone: 49.89.35757-1332



30.11.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de

--------------------------------------------------------------------------- Language: English Company: Linde AG Klosterhofstraße 1 80331 München Germany Phone: +49.89.35757-01 Fax: +49.89.35757-1075 E-mail: info@linde.com Internet: www.linde.de ISIN: DE0006483001 WKN: 648300 Indices: DAX Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich, Stuttgart; Regulated Unofficial Market in Hanover; Terminbörse EUREX; SIX End of Announcement DGAP News-Service ---------------------------------------------------------------------------