The business trends described below are based on prior year figures adjusted for the disposal of the Refrigeration business segment and for the amortization of goodwill. The prior year figures for the Group and for the business segments have been restated to take account of revised accounting regulations and the change in the disclosure of the financial result from long-term contracts.

In the first nine months of 2005, the Linde Group achieved sales growth of 7.8 percent to €6.833 billion (2004: €6.337 billion). While sales in Germany rose by 3.9 percent to €1.398 billion (2004: €1.346 billion), sales outside Germany increased by 8.9 percent to €5.435 billion (2004: €4.991 billion). Incoming orders of €7.903 billion (2004: €6.663 billion) increased by 18.6 percent, also significantly exceeding the figure for the same period in 2004.

Operating profit (EBITA) improved by 17.5 percent based on comparable prior year figures to €590 million (2004: €502 million). Earnings before taxes on income increased by 25.3 percent to €496 million (2004: €396 million). Net income rose 22.4 percent to €311 million (2004: €254 million). Therefore, there was a 22.1 percent increase in earnings per share to €2.60 (2004: €2.13).