German gases group Linde (LING.DE), which is preparing to merge with Praxair (PX.N), said 2018 operating profit would rise 5 percent at best as gains in industrial gases are tempered by lower prices for medical gases.
Linde achieved increases in both revenue and operating profit last year after adjusting for currency effects, lifted by a stronger performance from its engineering division.
Operating profit rose to 4.21 billion euros ($5.22 billion), in line with market expectations and the group margin increased to 24.6 percent, up from 24.2 percent in 2016.
Linde's on-site business, which supplies gases to large steel or petrochemicals plants, would benefit from a solid project pipeline this year while the healthcare operations would be burdened by price reductions, the company said.