The Linde Group's operating profit (EBITA) increased 14.9 per cent to EUR785 million (USD1 billion) while net income increased from EUR108 million (USD139 million) to EUR274 million (USD353 million) last fiscal year.

"We are well on our way and keeping pace," Linde AG executive board president and CEO Dr Wolfgang Reitzle said at a press briefing on the group's annual results in Frankfurt am Main.

In the materials handling segment, Linde achieved a 10.1 per cent increase in sales to EUR3.372 billion (USD4.339 billion), due to a rise in global demand for forklifts. EBITA increased 22.4 per cent from the previous year to EUR191 million (USD246 million).

Reitzle attributed the improvement to TRIM.100, Linde's process optimisation program, which enabled it to achieve budgeted cost savings in the past two years.

"Performance, in the sense of constant improvements in our structures and procedures, is an ongoing process for us. We therefore intend to introduce further measures to improve earnings in materials handling and Linde Gas, against a background of rising energy costs and raw material prices and intense international competition," he said.

A follow-up program to TRIM.100 for the materials handling segment is expected to be launched this year.

Linde said the program would enable it to achieve additional cost savings and create further synergies across the brands.