Lincoln Electric (LECO) 8-K Statements made during this presentation which are not historical facts may be considered forward-looking

The Welding Experts

®

Vincent K. Petrella

Executive Vice President & Chief Financial Officer

Stifel 2015 Industrials Conference

June 16, 2015

Exhibit 99.1

Forward-Looking Statements:

Statements made during this presentation which are not historical facts may be considered forward-looking

statements. Forward-looking statements involve risks and uncertainties that could cause actual events or

results to differ materially from those expressed or implied. Forward-looking statements generally can be

identified by the use of words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,”

“forecast,” “guidance” or words of similar meaning. For further information concerning issues that could

materially affect financial performance related to forward-looking statements, please refer to Lincoln

Electric’s quarterly earnings releases and periodic filings with the Securities and Exchange Commission,

which

can

be

found

on

www.sec.gov

or

on

www.lincolnelectric.com.

Safe Harbor and Regulation G Disclosures

Non-GAAP Measures:

Our management uses non-GAAP financial measures in assessing and evaluating the Company’s

performance, which exclude items we consider unusual or special items. We believe the use of such

financial measures and information may be useful to investors. Non-GAAP financial measures should be

read in conjunction with the GAAP financial measures, as non-GAAP measures are a supplement to, and not

a replacement for, GAAP financial measures.

Please refer to the attached schedule for a reconciliation of

non-GAAP financial measures to the related GAAP financial measures.

2

Pioneer With Market-Leading Technology

A global manufacturer and market leader with 120 years of expertise.

Distinguished by an unwavering commitment to customers,          

employees and shareholders.

Founded in 1895

$2.8B in revenue in 2014

Market cap of ~$5.1B

HQ in Cleveland, Ohio, U.S.

47 manufacturing facilities in 19 countries

Distribution to over 160 countries

10,000+ employees worldwide

EQUIPMENT

EQUIPMENT

AUTOMATION

AUTOMATION

FUME

CONTROL

FUME

CONTROL

CUTTING

CUTTING

ACCESSORIES

ACCESSORIES

CONSUMABLE

CONSUMABLE

(filler metals)

3

Investment Highlights

Predictable

model

enables high

dividend

payout

Track record 

of expanding

margins

Leader in

complete

solutions and

application

expertise

Increasing

cash

returns to

shareholders

Disciplined

capital

deployment 

delivers top

quartile

returns

1

Refers to Operating profit margin excluding special items

4

13%

CAGR

2006 -

2015

15+%

Operating

Margin

1

#1 

Global 

Provider of

Solutions

>$485

Million

in 2015 Est.

(+28% vs. ‘14)

19+%

ROIC

(share repurchases 

+ dividends)

Diversified Products and Reach

Net

Sales

by

Product

Area

¹

Net

Sales

by

Segment

¹

1

FY2014

5

Consumables

(filler metals)

62%

Equipment

38%

North

America

60%

South 

America

Asia

Pacific   

Harris

Products

Group 

Europe

15%

11%

9%

5%

Global Arc Welding, Brazing & Cutting 

Industry

Market

Share

Estimates

¹

1

Amounts based on the Company estimates of the total market and include sales of equity affiliates

2

Based on company estimates.

$23B Global Arc Welding, Brazing

&

Cutting

Industry

²

LECO is one of only three global providers to offer a complete solution

Leading Provider Across Diverse End Markets

8%

8%

6%

3%

4%

3%

9%

LECO

Colfax

ITW

Big Bridge

Kobelco

Golden Bridge

Bohler

Air

Liquide

Kemppi

Hyundai

OTC

Hypertherm

Atlantic

Fronius

Panasonic

Others

6

Heavy

Fabrication

Ship

Building

Automotive/

Transport

General

Industrial

Fabrication

31%

Power

Generation

& Process

14%

Maintenance

& Repair

Pipe

Mill

Offshore

Pipeline

Structural

14%

Innovation & Expertise Differentiate Our Value-Added Model

1920s

Motor generator-

based equipment

Stick electrodes

1950 -

1970s

Transformer-based

equipment

Wire & stick-based

consumables

1990 -

2005

Inverter-based

equipment (digital)

Proprietary wave form

technologies

Broader-range of

consumables & alloys

2006+

Automated and semi-automated solutions

Highly engineered solutions for unique applications

Expanded alloys and aluminum

Virtual reality training tools

Laser welding, cutting and cladding solutions

Productivity and quality monitoring tools

Digital interfaces for repeatability,                       

speed and ease-of-use

70% smaller and

85% lighter

7

Innovation Drives Growth

Adding MIG to existing TIG solution

Used in various oil and gas applications

Leverages a standard, installed base of

Power Wave

®

equipment, unique motion

control technology & new, simple interface

New digital system is 75% faster; meeting

the need for speed and ease-of-use

R&D Investment

Galvanized Steel Solution

Orbital Solutions

Process Z™ new custom wire & 

waveform for welding zinc-coated steels

Stringent automotive requirements   

driving demand for zinc-coated steels

Delivers up to 85% lower porosity levels

and higher productivity vs. alternatives

New

Patents

1

1

Initial patent filings for new technologies

2

New products defined as solutions launched within the last five years

8

~33% of 2014 sales

from

new

products

2

(+300 bps YoY)

~44% of 2014

equipment sales from

new products

2

$22

$24

$26

$27

$28

$29

$33

$37

$42

$43

67

42

22

41

50

29

52

74

110

61

-

20

40

60

80

100

120

$-

$5

$10

$15

$20

$25

$30

$35

$40

$45

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Disciplined M&A is Expanding Growth Opportunities

$489 Million

Cumulative M&A Investment 2005-2014

Sales growth

attributed to

acquisitions (%)

Expanding the

market size

potential for

future

growth

¹

$23 Billion

$35 Billion

Arc Welding,

Brazing & Cutting

+ Automation

+ Hardfacing

1

Based on company estimates

9

3.9%

average

‘2020 Strategy’ Targets Best-in-Class Financial Performance

FY2014

Result

2009 to 2014

Performance

2020 Goal

(2009-2020)

Sales Growth

-1.4%

10.2% CAGR

10%

CAGR

Adj Op Profit Margin

15.1%

Average

11.7%

Average 15.0%

ROIC

19.1%

Average 14.8%

Average 15.0%

Operating Working

Capital Ratio

16.5%

670 bps

improvement

15.0%

BRICs

Channels

Salesforce

Reach

Attractive

Sectors

Automotive

Energy

Infrastructure

Construction

Heavy

Fabrication

Education

Operational

Excellence

Arc Welding

Automation

Alloys/

Aluminum

Accessories

Cutting

Services

Leverage

Core

+

Adjacencies

Working capital

initiatives

Portfolio

optimization

Lean/Six Sigma

programs

2020

2009

10

Share of World Crude Steel Production:

2014

1

1

World Steel Association. Note: U.S. steel production FY2014: +1.7%, YTD through April 2015: -8.5%

2

Markit Financial Information Services

Economic Variables Impacting Our Industry

4%

4%

2%

5%

5%

7%

EU-28

11

Crude

Steel

Production

Annual

Growth

Trend:

2010-4/2015

1

-5%

0%

5%

10%

15%

20%

25%

2010

2011

2012

2013

2014

YTD '15

World

China

ROW

China

50%

10%

Japan

USA

India

Russia

S. Korea

Ukraine

ROW  

11%

40

42

44

46

48

50

52

54

56

58

60

2010

2011

2012

2013

2014

2015

Global

U.S.

China

Eurozone

Manufacturing Purchasing Managers’  Indices: 2010 to April 2015 Report

2

4.2%

15.5%

6.8%

-3.9%

-29.8%

14.1%

14.8%

1.3%

-2.7%

-2.0%

-0.8%

8.0%

2.9%

3.7%

7.8%

-0.5%

0.4%

6.9%

1.7%

0.1%

1.8%

2.9%

7.0%

3.4%

2.0%

3.0%

3.0%

5.3%

5.8%

4.9%

3.2%

1.5%

1.8%

0.9%

1.3%

3.2%

1.9%

-2.9%

2.6%

-2.0%

-0.6%

-2.6%

-4.0%

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Q1-2015

FX

Acquisition

Price

Volume

Solid Price Performance. Volumes Impacted by Initiatives

to Improve Mix and Macro’s

Please refer to the appendix for reconciliation of non-GAAP measures.

20.1%

23.1%

15.7%

8.7%

-30.2%

19.7%

30.2%

5.9%

0.0%

-1.4%

Components of Revenue Performance

12

-4.0%

Q2 Trending: Focused on ‘2020 Vision & Strategy’ initiatives to drive

long-term margin and earnings growth

13

Value Drivers in Q2:

•

Richening mix

•

Automation growth

•

Diversified end sector exposure with steady-to-modest growth in:

•

General Fabrication

•

Automotive

•

Shipbuilding

•

Pipe mills

•

Structural (non-res construction)

•

Continuous improvement programs and cost reduction initiatives

•

Capital allocation and share repurchases

Q2 Trending: Near-term trends and challenging YoY comparisons keep

us cautious on earnings performance

14

Q2 Challenges:

•

FX translation –

mid single-digit percent decline QTD thru May

•

Weakening oil/gas –

high teens percent decline QTD thru May

•

Weakening exports –

over 25 percent decline QTD thru May

•

General economic malaise and end sector weakness in:

•

Energy

•

Heavy Fabrication (agricultural, mining and construction equipment)

•

Mining / Maintenance & Repair 

•

Higher interest and pension expense

•

Challenging year-over-year comparisons

•

Prior

year

Q2-

and

Q3-2014

strengthening

volume

and

EBIT

performance

in

North American and European segments

•

$0.04 EPS contribution from Venezuela in Q2/2014

•

$0.03 EPS contribution from an insurance gain in Q2/2014

Focused on Higher Margin Opportunities

1

Excludes special items. Please refer to the appendix for reconciliation of non-GAAP measures.

Operating

Profit

Margin

1

vs. Net Sales

15

($ in millions)

1

Q1/2013 dividend paid in Q4/2012

Solid Cash Flows are Funding Growth and Accelerated

Shareholder Returns

17

Capital Allocation

$477

>$550

$43

$45

$47

$52

$73

$49

1

$73

$85-$90

$42

$40

$37

$81

$168

$307

$400

$72

$38

$61

$66

$53

$76

$73

$65-$75

$44

$25

$19

$66

$135

$53

$24

2008

2009

2010

2011

2012

2013

2014

2015e

Acquisition

Cap Ex

Share Repurchase

Dividend

$346

$342

$221

$167

$108

$201

13.2%

CAGR

2006 -

2015

Predictable Model Enables a Growing Dividend Payout

Dividend History

18

Celebrating 100 years of dividend payments

$0.38

$0.44

$0.50

$0.54

$0.56

$0.62

$0.68

$0.80

$0.92

$1.16

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Disciplined Capital Deployment Delivers Top Quartile

Returns

19

Return on Invested Capital

17.7%

19.9%

16.8%

18.8%

4.3%

10.7%

16.9%

18.7%

18.9%

19.1%

20.1%

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Q1-2015

Summary –

Positioned for Long Term Value Creation

#1 Global Provider

Top Quartile ROIC

$840M Returned to

Shareholders          

2011-2014

Top Market Position in Arc Welding

•

Differentiated by comprehensive equipment and consumables

•

Renowned

Welding Experts

®

with industry-leading engineers   

Innovative R&D and Pragmatic M&A Driving Growth

•

Focused investments driving higher margins and returns

•

33% of sales from new products (excl. Automation)

•

M&A  initiatives contributing 3% to 4% of annual revenue growth

Solid Execution Increasing Returns

•

Operational excellence is optimizing the cost structure 

•

Working capital efficiency supporting cash flow generation

•

Model driven by ROIC

Predictable Model Accelerating Shareholder Returns

•

Business model resilient through economic cycles

•

400 basis point margin expansion in 4 years on ‘2020 Strategy’

•

Share repurchases up over 700% over the past 4 years

20

Driving  Growth and

Richening Mix

Appendix

Amanda Butler

Director, Investor

Relations

Amanda_Butler@lincolnelectric.com

216.383.2534

Net Income

Solid earnings performance through the cycle

($ in Millions)

2005-2014

CAGR

10.5%

Net Income

1

1

Excludes special items. Please refer to the appendix for reconciliation of non-GAAP measures.

21

$125

$171

$203

$231

$73

$130

$231

$266

$313

$306

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Q1 2015

Please refer to the appendix for reconciliation of non-GAAP measures.

(EXCLUDING SPECIAL ITEMS)

Diluted Earnings Per Share Progression

Beginning

of Upturn

22

Beginning

of Recession

Period

Ended December 31,

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Q1-2015

Operating income:

$149,845

$232,970

$277,632

$295,404

$92,976

$186,430

$296,680

$362,081

$406,985

$373,747

$90,499

Special items:

Rationalization

charges / (gains)

1,761

3,478

(188)

2,447

29,018

(384)

282

9,354

8,463

30,053

-

Loss on sale of land

-

-

-

-

-

-

-

-

705

-

-

Impairment charges

-

-

-

16,924

879

-

-

-

-

-

-

Pension settlement

loss (gain)

-

-

-

-

(1,543)

-

-

-

-

-

-

Loss on sale of

business

1,942

-

-

-

-

-

-

-

-

-

-

Gain on sale of

Ireland facility

-

(9,006)

-

-

-

-

-

-

-

-

-

Venezuelan charges

(gains)

-

-

-

-

-

3,123

-

1,381

12,198

21,133

-

Adjusted operating

income:

$ 153,548

$ 227,442

$ 277,444

$ 314,775

$ 121,330

$ 189,169

$ 296,962

$ 372,816

$ 428,351

$424.933

$90,499

Net sales

$  1,601,190

$   1,971,915

$  2,280,784

$ 2,479,131

$ 1,729,285

$ 2,070,172

$ 2,694,609

$ 2,853,367

$ 2,852,671

$ 2,813,324

$    657,900

Op income %

9.4%

11.8%

12.2%

11.9%

5.4%

9.0%

11.0%

12.7%

14.3%

13.3%

13.8%

Adjusted op

income %

9.6%

11.5%

12.2%

12.7%

7.0%

9.1%

11.0%

13.1%

15.0%

15.1%

13.8%

Reconciliation of Operating Income and Operating Income Margin to

Non-GAAP Adjusted Operating Income and Adjusted Operating Income Margin

Non-GAAP Financial Measures

23

Period

Ended December 31,

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Q1-2015

Net

income:

$122,306

$175,008

$202,736

$212,286

$48,576

$130,244

$217,186

$257,411

$293,780

$254,686

$68,354

Special items:

Rationalization

charges / (gains)

1,303

3,478

(107)

18,313 

23,789

(894)

237

7,442

7,573

30,914

-

Loss on sale of land

-

-

-

-

-

-

-

-

705

-

-

Pension settlement

loss (gain)

-

-

-

-

(2,144)

-

-

-

-

-

-

Loss (gain) on sale

of business

1,678

-

-

-

(5,667)

-

-

-

-

-

-

Gain on sale of

Ireland facility

-

(7,204)

-

-

-

-

-

-

-

-

-

Venezuelan charges

(gains)

-

-

-

-

-

3,560

-

906

12,198 

21,133

-

Non-controlling

interests

-

-

-

-

601

1,782

-

-

(1,068)

(805)

-

Tax

audit

settlements

(9,857)

-

-

-

-

(4,844)

-

-

-

-

Tax contingency

-

-

-

-

-

(5,092)

-

-

-

-

-

Tax benefits related

to Ohio tax law

change

(1,807)

-

-

-

-

-

-

-

-

-

-

Gain from settlement

of legal disputes

(876)

-

-

-

-

-

-

-

-

-

-

Adjusted Net

Income:

$ 112,747

$ 171,282

$ 202,629

$ 230,599

$ 121,330

$ 129,600

$ 212,579

$ 265,759

$ 313,188

$ 305,928

$ 68,354

Reconciliation of Net Income to Non-GAAP Adjusted Net Income

Non-GAAP Financial Measures

24

Reconciliation of Diluted Earnings Per Common Share (EPS) to

Non-GAAP Diluted Adjusted Net Earnings Per Common Share (Adjusted EPS)

2008

2009

2010

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

2008

2008

2008

2008

2009

2009

2009

2009

2010

2010

2010

2010

Diluted EPS:

$0.62

$0.81

$0.80

$0.23

$(0.04)

$0.18

$0.15

$0.29

$0.28

$0.38

$0.38

$0.49

Special items:

Rationalization charges (gains)

-

-

-

0.02

0.09

0.08

0.07

0.03

0.01

(0.04)

-

0.02

Impairment charges

-

-

-

0.19

-

-

-

0.01

-

-

-

-

Pension settlement gain

-

-

-

-

-

(0.02)

-

-

-

-

-

-

LEIM disposal of assets (noncontrolling)

-

-

-

-

-

-

-

-

-

0.02

-

-

Adjust. Tax contingencies (Asia Pac)

-

-

-

-

-

-

-

-

-

-

-

(0.06)

Loss from Jin Tai acquisition

-

-

-

-

-

-

0.09

-

-

-

-

-

Gain on sale of property (Turkey)

-

-

-

-

-

(0.07)

-

-

-

-

-

-

Venezuela charges (gains)

-

-

-

-

-

-

-

-

-

0.03

0.01

-

Adjusted Diluted EPS:

$0.62

$0.81

$0.80

$0.44

$0.05

$0.17

$0.32

$0.32

$0.28

$0.39

$0.39

$0.45

Non-GAAP Financial Measures

2011

2012

2013

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

2011

2011

2011

2011

2012

2012

2012

2012

2013

2013

2013

2013

Diluted EPS:

$0.55

$0.68

$0.66

$0.68

$0.76

$0.79

$0.77

$0.74

$0.80

$0.87

$0.80

$1.07

Special items:

Rationalization charges (gains)

-

-

-

-

-

0.01

0.03

0.05

0.01

0.04

0.06

0.02

Tax audit settlements

(0.06)

-

-

-

-

-

-

-

-

-

-

-

Venezuela charges (gains)

-

-

-

-

-

0.01

-

-

0.11

-

-

-

Adjusted Diluted EPS:

$0.49

$0.68

$0.66

$0.68

$0.76

$0.81

$0.80

$0.79

$0.92

$0.91

$0.86

$1.09

25

Reconciliation of Diluted Earnings Per Common Share (EPS) to

Non-GAAP Diluted Adjusted Net Earnings Per Common Share (Adjusted EPS)

2014

2015

2010

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

2014

2014

2014

2014

2015

2009

2009

2009

2010

2010

2010

2010

Diluted EPS:

$0.69

$0.96

$0.57

$0.96

$0.89

$0.18

$0.15

$0.29

$0.28

$0.38

$0.38

$0.49

Special items:

Rationalization charges (gains)

-

0.01 

0.37 

-

-

0.08

0.07

0.03

0.01

(0.04)

-

0.02

Venezuela charges (gains)

0.22 

0.04 

-

-

-

-

-

-

-

0.03

0.01

-

Adjusted Diluted EPS:

$0.91

$1.01

$0.94

$0.96

$0.89

$0.17

$0.32

$0.32

$0.28

$0.39

$0.39

$0.45

Non-GAAP Financial Measures

26