Linde 2Q 2014 -- Forecast

FRANKFURT--The following is a summary of analysts' forecasts for Linde AG (LIN.XE) second-quarter results, based on a poll of nine analysts conducted by Dow Jones Newswires (figures in million euros, EPS, dividend and target price in euro, according to IFRS). Earnings figures are scheduled to be released July 29.

=== 
                                              Net 
                                           attrib. 
2nd Quarter        Sales EBITDA  EBIT  EBT profit   EPS 
AVERAGE            4,165    967   547  458   316   1.71 
Prev. Year         4,222  1,013   576  478   342   1.84 
+/- in %            -1.4   -4.5  -5.0 -4.1  -7.5   -7.3 
 
MEDIAN             4,186    964   545  459   313   1.70 
Maximum            4,212    986   565  475   329   1.77 
Minimum            4,012    950   533  441   306   1.65 
Amount                 9      9     6    4     7      6 
 
Bankhaus Lampe     4,165    950   533   --   313     -- 
Berenberg          4,187    985    --   --    --   1.74 
BoA-Merrill Lynch  4,203    986   565  475   329   1.77 
Credit Suisse      4,012    955    --   --    --     -- 
Deutsche Bank      4,212    969   560  467   323     -- 
Hauck & Aufhäuser  4,147    961   546   --   317   1.71 
LBBW               4,160    964    --   --   313   1.68 
UBS                4,209    976   537  441   306   1.65 
Warburg Research   4,186    956   543  450   312   1.68 
 
 
            Target price  Rating              DPS 2014 
 
AVERAGE           163.06  positive 5  AVERAGE     3.15 
Prev. Quarter     164.75  neutral  3  Prev. Year  3.00 
+/- in %            -1.0  negative 1  +/- in %    +5.0 
 
MEDIAN            160.00              MEDIAN      3.15 
Maximum           190.00              Maximum     3.30 
Minimum           140.00              Minimum     2.97 
Amount                 9              Amount         8 
 
Bankhaus Lampe    157.00  Hold                    3.10 
Berenberg         180.00  Buy                     3.30 
BoA-Merrill Lynch 158.00  Neutral                 3.24 
Credit Suisse     140.00  Underperform              -- 
Deutsche Bank     167.00  Buy                     2.97 
Hauck & Aufhäuser 190.00  Buy                     3.15 
LBBW              160.00  Buy                     3.15 
UBS               144.00  Neutral                 3.20 
Warburg Research  171.50  Buy                     3.10 
=== 

Year-earlier figures are as reported by the company.

DJG/mus 

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