By: ICN Bureau
Last updated : October 07, 2026 8:22 am
The company plans a capital allocation program exceeding €40 billion through 2030
French industrial gases giant Air Liquide unveiled "BEYOND," its highly anticipated new strategic plan for the 2026–2030 period. Following the strong operational success of its prior "ADVANCE" program, this new corporate roadmap positions the group at the absolute forefront of major global structural shifts, accelerating long-term value creation by effectively turning modern macroeconomic and industrial challenges into sustainable growth opportunities.
The core corporate strategy is built upon three deeply interconnected, virtuous pillars designed under the leadership of CEO François Jackow: listening and caring for stakeholders, performing at the highest operational standard, and growing by expanding into new frontiers.
Globally, Air Liquide has identified four priority high-growth markets where its advanced solutions and molecular technologies will play a decisive role: electronics and artificial intelligence, the energy transition, healthcare, and space. In the electronics sector alone, a weighted average annual sales growth exceeding 10% is expected over the timeline, heavily fueled by local semiconductor fab expansions and massive cloud computing infrastructure.
François Jackow, Chief Executive Officer of Air Liquide, stated: "With BEYOND, Air Liquide opens an ambitious new strategic chapter in its profitable growth trajectory. The Group enters this cycle on solid foundations and with committed teams serving our customers and patients. In a constantly evolving environment, powered by the success of our ADVANCE plan, the resilience of our business model, our innovation capabilities, and our leading market positions, our roadmap is clear: reach a new frontier in lasting value creation.
To step up our momentum, we will capture profitable growth by leveraging our global reach and our multi-local footprint, close to our customers. We will also leverage our scale, as well as the increased digitalization of our processes, to achieve an unprecedented level of operational performance. Finally, our profitability allows us to evolve our capital allocation beyond investments and acquisitions in our core businesses, notably through two new measures: rolling out a share buyback program for our shareholders and annual employee share purchase plans.
With BEYOND, more than ever, we intend to anticipate, innovate and meet the evolving needs of our stakeholders - employees, industrial customers, healthcare providers, society and shareholders. By delivering useful and innovative solutions, creating lasting value and sharing it with all, we continue to build on the trust earned over time, and to keep inventing the future together."
Financially, BEYOND establishes aggressive milestones aimed at maximizing returns and efficiency, targeting a compound annual growth rate (CAGR) of 10% (±2%) in recurring net EPS from a 2025 baseline. Sales are projected to grow by 5% (±1%) annually, outpacing global industrial production, while operating margins aim to rise by 400 to 600 basis points alongside a recurring ROCE above 11% by 2030.
To fund these initiatives, the company plans a capital allocation program exceeding €40 billion through 2030, which includes roughly €24 billion for industrial projects and acquisitions. Shareholder returns are further bolstered by regular dividend growth and a €4 billion share buyback slated for 2027–2028.
Sustainability is deeply integrated into the plan, reaffirming targets to cut Scope 1 and 2 emissions by 33% by 2035 toward 2050 neutrality, alongside a 10% reduction in global water withdrawal by 2030. This balances economic growth with responsibility, charting a clear path for future leadership.