Air Liquide Delivers Strong H1 2024 Performance

Air Liquide's H1 2024 results demonstrate resilience and strong financial performance. Discover how the company is capitalizing on growth opportunities in a challenging market.

Air Liquide Boosts Profitability in H1 2024
Air Liquide reports strong H1 2024 results, driven by operational efficiency and growth in Gas & Services. AL


Paris, France, July 26, 2024:

Global industrial gases leader Air Liquide announced robust financial results for the first half of 2024, demonstrating resilience and strategic progress. The company reported a significant improvement in operating margin, driven by operational efficiency gains and focused cost management.

Despite a challenging market environment characterized by subdued demand, Air Liquide achieved a 2.6% increase in sales on a comparable basis. The company's Gas & Services segment, which represents the core of its business, benefited from the dynamic performance of its Healthcare division and the Americas region. 

A key highlight of the period was the substantial 100 basis point improvement in operating margin, excluding the impact of energy. This achievement underscores Air Liquide’s commitment to its ADVANCE strategic plan and its ability to enhance profitability. The company attributed this success to a combination of factors, including the implementation of approximately 1,000 operational efficiency projects, strategic portfolio management, and targeted price adjustments.

Air Liquide's financial health remains strong, with a 16% increase in net profit recurring, excluding currency impact. The company generated robust cash flow, allowing for continued investment in growth initiatives. Moreover, the Group's return on capital employed (ROCE) exceeded 10%, aligning with the ADVANCE plan's objectives.

With a substantial investment backlog of €4.1 billion, Air Liquide is well-positioned to capitalize on growth opportunities, particularly in the energy transition sector. The company has identified over €4 billion worth of potential projects, with a strong focus on decarbonization and semiconductors.

François Jackow, CEO of Air Liquide, expressed satisfaction with the company's performance. He emphasized the Group's ability to deliver strong financial results while advancing its strategic priorities. Jackow also highlighted Air Liquide's commitment to simplifying its organization to enhance efficiency and its focus on developing large-scale projects to drive long-term growth. 

Looking ahead, Air Liquide remains optimistic about its prospects for the remainder of the year, with a focus on further expanding operating margins and delivering sustained net profit growth. 

The company’s ability to navigate a challenging market environment, coupled with its strong financial performance and strategic focus, positions Air Liquide as a leader in the industrial gases industry. 

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