Cyclical sectors and a weak economic environment have taken their toll on Air Liquide’s first quarter 2009 revenues, though the company remains resilient amidst difficult trading conditions.
Despite the turbulent economy, group revenue for the first quarter 2009 was €2.997m, down 3% as published.
Sales for the company’s Gas & Services division declined to €2.548m, down 4.2% on a comparable basis, though Air Liquide draws on a broad and ‘solid’ mix of activities across varying markets and optimism prevails.
The company notes that activity in Q1 was marked by ‘significant disparities’ between geographic zones, markets and products and therefore, cyclical sectors experienced a reduction in volume in excess of 30%. However, defensive sectors generally resisted, subject to volume declines of less than 10%.
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