During the financial year, the Gases Division achieved sales growth of 9.4 percent to EUR 9.209bn (2006: EUR 8.421bn) in a seamless continuation of the positive trend from the prior year. After adjusting for exchange rate effects and changes in the price of natural gas the increase in sales was 12.1 percent. If adjustments are also made for changes in the structure of the Group and acquisitions we have made in order to strengthen our position, especially in the growth market of Asia, the increase in sales on a comparable basis was 7.2 percent. Sales in proportion to the Gases Division’s interest in joint ventures, which are not included in Group sales, amounted to EUR 745m in 2007.

Operating profit again increased at a faster rate than sales, with a rise of 13.7 percent to EUR 2.314bn (2006: EUR 2.035bn).

All the product areas and geographical regions contributed to this positive business performance.