FRANKFURT, March 27 (Reuters) - German industrial gas and engineering group Linde AG said on Thursday it expected core earnings to improve this year as it slashes costs and vowed to spin off its ailing refrigeration business.
"We expect to see a noticeable improvement in earnings before interest, tax and amortisation (EBITA), assuming the Iraq war does not cause any lasting deterioration in the world economy and Germany does not enter a recession," Linde Chief Executive Wolfgang Reitzle told a news conference.
The group's order intake rose 4.7 percent to 1.4 billion euros in the first two months of the year, due exclusively to plant construction orders, although sales dipped slightly to 1.2 billion euros.