Air Liquide revenue in the third quarter totalled €5.8m, with sales up 7.1% compared with third quarter, 2020, and around 6% compared to third quarter, 2019.
Engineering & Construction consolidated revenue saw a 35.1% growth, with Global Markets & Technologies up by 15.9% and Gas & Services revenue rising by 6.5% to €5.6bn.
Commenting on the results, Benoït Potier, Chairman and CEO of Air Liquide, said, “The third quarter confirms the continued sales growth observed in the first half-year. All activities are increasing: Gas & Services in all regions of the world, Engineering & Construction and Global Markets & Technologies, in a more favourable market environment.”
The Group continues its momentum of improving its operating margin, driven by operational efficiencies of 314 million euros over the first nine months, in line with the annual target of more than 400 million euros, and active price management taking into account the inflationary context. Cash flow remains high above 23% of sales excluding energy impact.
12-month investment opportunities are increasing, now reaching 3.3 billion euros, with more than 40% related to the energy transition. In this context, the Group approved investments of nearly 900 million euros this quarter, notably in Large Industries and Electronics. One third of industrial investment decisions will contribute to the energy transition. The robust and diversified investment backlog, currently running at 3.1 billion euros, is particularly promising for future growth.
True to its growth model combining financial performance and societal performance, Air Liquide has multiple initiatives this quarter to promote hydrogen as a key solution to fight global warming.
In 2021, Air Liquide is confident in its ability to further increase its operating margin and to deliver recurring net profit1 growth at constant exchange rates.”