Linde Plc's Business Segments

Linde plc is a multinational industrial gases company formed by the merger of Linde AG and Praxair, Inc. in 2018. It is headquartered in Munich, Germany and has a presence in over 100 countries around the world. Linde plc is one of the leading players in the industrial gas industry, providing a wide range of products and services to various industries, including healthcare, chemicals, manufacturing, metals, food and beverage, and electronics.

The core business of Linde plc is the production and distribution of industrial gases such as nitrogen, oxygen, hydrogen, argon, and carbon dioxide. These gases are essential for a wide range of applications, including welding and cutting, heat treatment, metal fabrication, refrigeration, fueling, and numerous other industrial processes. Linde also offers a variety of gas mixtures and specialty gases to meet specific customer requirements.

In addition to industrial gases, Linde plc also provides a range of related services, including gas equipment, gas supply systems, on-site gas generation systems, gas safety training, and gas applications technology. The company aims to provide holistic solutions to its customers, helping them improve their productivity, efficiency, and sustainability.

Linde plc emphasizes innovation and invests heavily in research and development to develop new technologies, improve product quality, and address emerging customer needs. The company has a strong focus on sustainability and actively works towards reducing its environmental impact. Linde is committed to developing and promoting clean technologies, such as hydrogen for fuel cell vehicles and carbon capture and utilization.

Linde plc operates a vast network of production plants, filling stations, warehouses, and distribution centers to ensure reliable supply chain management and prompt delivery to customers around the world. The company has a strong customer base, including large industrial corporations, small and medium-sized enterprises, and individual consumers.

The corporate culture at Linde plc is characterized by a strong commitment to safety, integrity, and customer orientation. The company strives to maintain the highest standards of quality and operational excellence. Linde plc employs a diverse and talented workforce of more than 80,000 employees worldwide. It values diversity, inclusion, and equal opportunity and promotes a collaborative and inclusive working environment.

Financially, Linde plc has a strong track record of growth and profitability. The company generates substantial revenue and consistently delivers strong financial performance. It is listed on several stock exchanges, including the New York Stock Exchange, the Frankfurt Stock Exchange, and the London Stock Exchange.

Linde plc continues to expand its global presence through strategic acquisitions, partnerships, and investments in emerging markets. It aims to capitalize on the growing demand for industrial gases, driven by economic growth, urbanization, and the increasing focus on sustainability and clean technologies.

Overall, Linde plc is a leading player in the industrial gases industry, providing a wide range of products and services to various sectors. With its global presence, commitment to innovation, and focus on sustainability, Linde plc is well-positioned to capitalize on market opportunities and drive continued growth in the future.

The registrant's reportable segments are Americas, EMEA (Europe/Middle East/Africa), APAC (Asia/South Pacific), and Engineering. The Engineering segment designs and manufactures equipment for air separation and other industrial gas applications worldwide and operates across all geographic segments. The "Other" category includes corporate costs and smaller businesses that do not meet quantitative thresholds for separate presentation. The industrial gases product line manufactures and distributes atmospheric gases—including oxygen, nitrogen, argon, and rare gases—and process gases such as hydrogen, helium, carbon dioxide, carbon monoxide, electronic gases, specialty gases, and acetylene. Many of these gases are co-products of the same manufacturing process. Linde manufactures and distributes nearly all products regionally and manages customer relationships on a regional basis. Distribution methods include on-site or tonnage, merchant or bulk, and packaged or cylinder gases, integrated to meet customer needs. Products are generally not economically transported outside their regions, making distribution economics region-specific and aligned with management’s performance assessment. Segment operating profit, used for performance assessment and resource allocation by the Chief Operating Decision Maker (CODM), excludes purchase accounting impacts of the Linde AG merger, cost reduction programs, other charges, and non-indicative items. For the year ended December 31, 2025, sales were $15,208 million in Americas, $8,549 million in EMEA, $6,661 million in APAC, $2,250 million in Engineering, and $1,318 million in Other. Operating profit for these segments was $4,747 million, $3,055 million, $1,933 million, $408 million, and negative $6 million, respectively. The Americas segment includes industrial gases operations in approximately 20 countries, including the United States, Canada, Mexico, and Brazil. Sales in Americas increased 5% in 2025 compared to 2024, driven by higher pricing (3%), volume increases (1%) primarily in electronics, metals and mining, chemicals, and energy end markets, and cost pass-through (1%).