reports
- Humayra Afroz
- Tanay Roy
How did multinational companies perform in Jan-Mar 2023?
* The cumulative profits of Multinational Companies (MNCs), excluding BERGERPBL, increased by c5% yoy in Jan-Mar 2023. * Consumer staple companies experienced continued growth, performing well during the quarter: * MARICO’s profit grew c. 25% this quarter because of profitability improvement driven by lower copra price and opex management * RECKITTBEN resumed topline growth and generated strong earnings growth by trimming operating expenses * All construction companies ...
- Shopnil Paul
- Tanay Roy
Linde Bangladesh Ltd: Q3 CY22: c23% yoy decline in earnings driven by ...
* 23% yoy declined in earnings in Q3 CY22. EPS in Q3 CY22 stood at BDT 13.83 against BDT 17.99 in Q3 CY21. In the 9M CY22, LINDEBD reported EPS BDT 48.78 against BDT 59.41 in 9m CY21, implying 18% decline. * The quarterly sales declined by c2% YoY in Q3 CY22. The sharp decline in the demand of liquid oxygen in hospital as the COVID situation has improved was the underlying reason behind the negative sales growth. * 781 bps yoy gross margin contraction was the major reason for the d...
- Shopnil Paul
- Tanay Roy
Linde: Q2 CY22 – Lower sales and margin contraction declined earnings ...
* LINDE BD reported 2Q CY22 NPAT of BDT 233mn (EPS: BDT 15.3), implying a c32% yoy decline against NPAT of BDT 345mn (EPS: BDT 22.54) in 2Q CY21. Lower sales (8% YoY decline) and 919bps gross margin contraction resulted in the decreased bottom-line. In H1 CY22 NPAT stood at BDT 532mn (EPS BDT 34.95), which translates to 16% decline in earnings YoY. * 2Q CY22 revenue declined by c8% YoY to BDT 1,154mn. c75% of LINDE BD’s revenue comes from the sale of Bulk Gases and PG&P (inclusive of e...
- Shopnil Paul
- Tanay Roy
Linde Bangladesh Ltd: Lower sales and margin contraction declined earn...
* LINDE BD reported 3Q CY 21 NPAT of BDT 274mn (EPS: BDT 17.99), implying a c21% yoy degrowth against NPAT of BDT 345mn (EPS: BDT 22.67) in 3Q CY 20. Lower sales (9.4% YoY decline) and 100bps gross margin contraction resulted in the decreased bottom-line. However, 9M CY21 NPAT stood at BDT 904mn (EPS BDT 59.41) vs 9M CY20 NPAT BDT 728mn (BDT 47.82). * 3Q CY21 revenue declined by c9% YoY to BDT 1,225mn. Although the government development spending increased during the quarter, the 20 da...
- Auneea Haque
- Joy Bhattacharjee
Linde Bangladesh Ltd: Lower opex and tax cut boosted earnings; reitera...
LINDE BD reported 2Q CY 21 NPAT of BDT343mn (EPS: BDT22.54), implying a c370% yoy growth against NPAT of BDT73mn (EPS: BDT4.80) in 2Q CY 20. Lower opex/sales of c10% (-21% yoy), and tax cut (c13% tax rate) boosted earnings. H1 21 NPAT stood at BDT630mn (BDT41.42) vs H1 20 NPAT BDT383mn (BDT25.16). 2QCY21 revenue increased by c105% YoY to BDT1,254mn due to base effect, however still down by 12% from 2019- quarterly average revenue base of BDT1,421mn. LINDE’s construction & gas business remaine...
- Auneea Haque
- Joy Bhattacharjee
Linde Bangladesh Ltd: Lower payout amid EPS fall in covid year, Histor...
Annual EPS stood at BDT70.55 (BDT 1,074mn), down by 13% YoY. 4Q 20 EPS declined by c9% YoY to BDT22.71 (BDT346mn). Price competition from regional players in the electrode and healthcare (HC) gas business might have a hand in this. BDT40.0 dividend per share (payout 57%, vs BDT50.0 in CY 19, 62% payout) missed our expectation of BDT50/share. LINDE BD reported 1Q CY 21 NPAT of BDT287mn (EPS: BDT18.86), implying a c7% decline against NPAT of BDT310mn (EPS: BDT20.37) in 1Q CY 20. 9% topline degr...
- Auneea Haque
- Joy Bhattacharjee
Linde Bangladesh Ltd: Riding on vibrant construction sector; Initiate ...
LINDE BANGLADESH IS THE LEADING HEALTHCARE & INDUSTRIAL GAS AND ELECTRODE MANUFACTURER IN BANGLADESH The company derives 66% revenue from its Electrode segment, and the rest 34% from ASU Gases (20%), Dissolved Acetylene (2%) & Others (12%). LINDE BD has two factories in Narayanganj (Rupganj) & Chittagong. Initially incorporated as Bangladesh Oxygen Limited (BOL) in 1973, the company set up its first CO2 plant in 1976. In 1995, the company introduced its first welding production line and a 30 ...
Company Analysis on Linde Bangladesh Limited
As a pioneer in industrial gases in Bangladesh, the company has a long history and proud heritage - the company's roots go back to 1950’s, even before the independence in 1971. The company is the market leader in industrial and medical gases segment as well as in the electrodes segment. The last five years performance of the company in terms of revenue is not very convincing although the net profit of the company showed continuous improvement via margin improvement. The report provided here ...
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