After a year long preparation to convert Air Liquide’s accounting procedure to IFRS standards, the company report minimal change in financial results.
Both the profit and loss account and the balance sheet were presented to statutory auditors for their opinion.
The impact of the new IFRS standards on the financial year was neutral. In total, 2004 net income is €780 million under IFRS, compared to €778 million under French accounting standards.
The profit and loss account looks like it will be positive, notable due to the non-amortisation of goodwill and the adjustment of depreciation policies relating to tangible assets.
The margin ratio of current operating profit over sales is 14.6% under IFRS standards compared to 13.6% under French accounting principals.
The impact of the new accounting standards on equity is limited to - €434 million, less than 8% of shareholders’ equity as of 1st January 2004.