Air Liquide reports growth performance results 2010

Air Liquide reports growth performance results 2010

5:30 PM, 25th May 2011
Air Liquide reports growth performance results 2010

  • New production unit start-ups at a rate of two per month
  • Expansion in Developing economies: new sites in Panama and Turkey, new contracts in India, China, Poland, Russia
  • Acquisitions in Healthcare: Australia, South Korea, France
  • Projects in Energy and Environment: Carbon Capture and Storage in the US, hydrogen in Saudi Arabia

 

PARIS, FRANCE: The 2010 consolidated revenue of Air Liquide amounts to € 13,488 million. The progressive recovery in gas and services, which increased +10.3 per cent on a comparable basis, accelerated quarter-by-quarter in all regions, especially in the developing economies (+29 per cent on a comparable basis). Highlights of the year included strong growth in Large Industries, with a record number of start-ups and ramp-ups of new units; sustained performance in Industrial Merchant; confirmation of a rebound in electronics; and solidity in Healthcare.


Net profit (group share) posts an increase of +14.1 per cent, above the group’s historical performance, and the operating margin reached 16.7 per cent, up +40 basis points compared to 2009, in part due to continued efficiency gains totaling € 280 million for the year. The net debt stands at € 5,039 million, down by € 183 million, at constant exchange rates, leading to a gearing ratio of 55 per cent. Return on capital employed increased to 12.1 per cent.


“The year 2010 highlights include the return to more sustained growth in all of our businesses and geographies, and stronger overall performance. The group has expanded its positions in developing economies, which represent 19 per cent of gas and services sales for the year. This performance, together with our ongoing efficiency programmes, led to further improvement in operating results and a strengthened balance sheet,” said Benoît Potier, Chairman and CEO, Air Liquide Group.

 

He added, “The recovery of the long-term investment cycle, as demonstrated by the signing of new contracts in all of our businesses, has led us to double the amount of our investment decisions compared to 2009, reaching € 2.2 billion. The new momentum is already established, spurred by the ALMA 2015 programme, and supported by our five growth drivers (energy, environment, developing economies, health, high-tech). This momentum will allow us to seize many growth opportunities and accelerate our long-term development. Assuming normal economic conditions, the group is confident to continue steady growth of net profit in 2011.”

(C) WOC News

 

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