Air Liquide reported a solid performance in 2024.The Group revenues were up 2.6% on a comparable basis at €27.1 billion. Meanwhile net profits were 7.4% higher at €3.3 billion, helped by a 150 basis-point increase in the operating margin to 19.9%. The company said its transformational plan, announced last year, generated record efficiencies of €497 million. There was no significant scope impact in 2024.

Commenting on 2024 results, François Jackow, Chief Executive Officer of the Air Liquide Group, stated: “In 2024, our Group achieved a very solid performance, marked in particular by a record improvement in our operating margin excluding the energy impact, as well as sales growth on a comparable basis, in a subdued macroeconomic context.”

“In 2024, Air Liquide delivered another very strong operational performance. Our transformation plan, announced in mid-2024, is currently being rolled out across the entire Group. We generated record efficiencies of 497 million euros and continued the dynamic management of our business portfolio and the adjustment of our Industrial Merchant prices, based on our ability to create added value for our customers. These actions led to an unparalleled improvement in our operating margin of +110 basis points excluding the energy impact in 2024.

“The Group's recurring net profit excluding the currency impact increased by +11.5%. Recurring ROCE progressed at 10.7%, even though our investments to prepare for future growth are increasing. Demonstrating our confidence in the future, the dividend that will be submitted to the shareholders’ vote in May amounts to 3.30 euros per share, i.e. an increase of +13.7% following the allocation in 2024 of one free share for every 10 held…

“Lastly, more than ever, we are continuing to prepare the future, with sources of growth fueled by our record investment decisions in 2024, reaching 4.4 billion euros. Our ability to provide innovative offers with a high technological content to our customers is reflected in major commercial successes in both traditional sectors and those driven by transformations related to the energy transition and semiconductors, particularly in the United States, Europe and Asia.

“As a result, in 2025, Air Liquide is confident in its ability to further increase its operating margin and to deliver recurring net profit growth, at constant exchange rates."