LINDE PLC Annual Report, Year Ended Dec 31, 2022

Linde plc reported robust financial performance for the fiscal year ended December 31, 2022, with sales reaching $33.36 billion, an 8% increase year-over-year. This growth was primarily driven by higher pricing across all segments, contributing 7% to sales, with a further 6% from cost pass-through mechanisms. Despite inflationary pressures and adverse currency movements that impacted reported operating profit, adjusted operating profit saw a 10% increase, reflecting strong pricing power and productivity initiatives. The company's global industrial gas operations in the Americas, EMEA, and APAC segments all demonstrated sales growth, with operating profit in these regions increasing by 11%, 7%, and 11%, respectively. The Engineering segment also reported a 17% increase in operating profit. Linde actively managed its capital structure, repurchasing $5.13 billion in ordinary shares under its $10 billion repurchase program and paying $2.34 billion in dividends. The company ended the year with $5.44 billion in cash and cash equivalents, demonstrating solid liquidity. Management remains focused on operational efficiency and strategic growth opportunities, with long-term contracts providing stability. Key risks highlighted include economic downturns, rising energy and raw material costs, and international operational risks, though the company has mechanisms in place to mitigate some of these through contract terms and hedging strategies.