CLAIM #36293 · Linde plc Ordinary Shares (LIN) · 2025Q2 earnings call · Aug 1, 2025 · due Dec 31, 2025
“Volumes, therefore, likely to be negative in the second half.”
Sanjiv Lamba · CEO
In context
“to see how we take this business globally and in doing that are finding opportunities in Europe that are starting to look attractive as well. So that's really Americas for you with a lot of confidence in the U.S. market, if you will. From that excitement of space, I have to bring you down to some ground realities when I talk about Europe. So Europe is expected to continue soften -- see softening in demand, led primarily by Western Europe. Any growth in the resilient end markets will be more than offset by decline in the industrial sector across metals, manufacturing, chemicals, energy, all with volumes lower than last year. So in the short term, Europe has several challenges to get their economy back on their feet. And I currently don't see any catalyst for economic improvement this year. Volumes, therefore, likely to be negative in the second half. I think it's going to be driven almost entirely by the industrial sector. And our team in Europe is doing all they can to manage through this economic environment, working on levers that they know and are in control of such as price, productivity, cost actions. And of course, you can see that reflected in the double-digit EBIT growth that they were able to provide in the quarter. But looking ahead into the rest of the year, I'm not feeling any level of confidence that you're going to see improvement. If anything, you're going to see a likely decline continue there. If I move on to Asia, I'll start with China maybe and just tell you, China remains a mixed bag. You've heard me say this in previous calls, I expect China to remain flat for the year, and that continues to be our expectation. T”
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SEC filings for LIN ↗ · Claim quote is verbatim from the 2025Q2 earnings call.