Stable shareholder structure
Institutional investor holdings by region in %
In the annual shareholder identification survey, Linde identified the shareholders of around 76 percent (2014: around 79 percent) of the outstanding shares on the balance sheet date of 31 December 2015. These are solely institutional investors. In the case of the shareholders who have not been identified, it is assumed that 76 percent of these shares too can be allocated to institutional investors. On the basis of this approach to the calculation, the proportion of private investors who held shares in Linde at 31 December 2015 was around 6 percent (2014: 5 percent).
The proportion of institutional investors from the US came in at around 38 percent at the end of the reporting year, as in the previous year (2014: 38 percent). This means that US investors continue to constitute the largest group of investors from a single country. The proportion of shares held by European institutional investors fell slightly to 57 percent (2014: 58 percent). The proportion of shares held by institutional investors in the Scandinavian countries also fell to 12 percent (2014: 13 percent). At 31 December 2015, German institutional investors held 11 percent of Linde’s shares (2014: 14 percent). The proportion of institutional investors from the UK rose slightly year-on-year to 16 percent (2014: 15 percent), as did the proportion of French investors at 9 percent (2014: 7 percent). The proportion of Asian investors remained constant in the 2015 financial year at 4 percent (2014: 4 percent). The proportion of investors focusing on sustainability once again came to around 11 percent in the 2015 financial year (2014: 11 percent).
In the past year, Linde has again succeeded in broadening its investor base to include a number of investors who take a long-term view. The Group’s business model is geared towards sustainable, profitable growth. Linde also benefits from a stable financing structure and therefore offers investors an attractive investment with the opportunity for long-term wealth creation.