Air Liquide Group Q1 2021 sales reached 5.3 billion euros, including 5.1 billion euros for Gas & Services, which grew +2.8% on a comparable basis.

Commenting on sales in the 1st quarter of 2021, Benoit Potier, Chairman and CEO, Air Liquide Group said, “This first quarter saw solid growth of +3.8% on a comparable basis, confirming the trend recorded in the fourth quarter of 2020. Sales reached 5.3 billion euros, including 5.1 billion euros for Gas & Services, which grew +2.8% on a comparable basis. This growth confirms the recovery seen in all of our Gas & Services activities. Strong momentum was also seen in the Engineering & Construction and Global Markets & Technologies business lines."

In Gas & Services, which account for 96% of Group sales, growth was particularly strong in Healthcare at +10%. In the industrial sector, the Industrial Merchant activity showed positive growth for the first time since the start of the health crisis, while Large Industries grew, driven by the start-upof new units and the marked recovery in the Steel and Chemicals markets. In terms of geographies, Asia showed very strong growth, led by China, while Europe grew solidly. The Americas region posted contrasted performance, impacted by an exceptional cold wave in the United States.

Regarding efficiencies, the Group continued to take action to improve performance. In the 1st quarter of 2021, 95 million euros in efficiencies were generated, in line with its target to achieve 400 million euros over the year. In addition, the cost reduction measures linked to the crisis have been largely maintained in the context of the gradual recovery in activity. Cash flow is high and stands at more than 23% of sales, an improvement of +100 basis points.

The investment decisions for the quarter amounted to 600 million euros. The 12-month portfolio of opportunities continued to grow and stands at 3.2 billion euros. The proportion of projects linked to the energy transition has continued to increase and is now at 46%. These investments will contribute to future growth.

Financial performance and sustainable development are at the heart of Air Liquide’s growth model. In a global health context that still differs from region to region, the Group remains committed to supplying healthcare facilities with medical oxygen. In addition, the Group set out particularly ambitious sustainable development objectives last March. A structured plan will allow it to achieve carbon neutrality by 2050 and to accelerate in the field of hydrogen and the deployment of decarbonization solutions for the industry.