Business Intelligence Financial – Air Liquide – Q2 2015


gasworld’s Business Intelligence provides you with the latest analysis of Air Liquide’s Q2 2015 earnings report.

  • Corporate sales up +9% YoY in Q2 2015 to €4.1bn – highest growth for several years.
  • Gases and Services account for over 90% of corporate sales, with engineering & technology 6% and other businesses 4%.
  • Corporate operating income estimated to have risen by over +13%, helped by significant currency impact – again highest growth in recent years.

  • On this basis, operating margin trending flat at around 17.5%, but up on prior year, even after removing impact of energy pass-through.
  • Cost savings and efficiency measures again generated benefits of over €60m in Q2 – slightly down YoY, but in line with run rate for annual target. Principally in operational areas after major actions on administration costs in Europe and Japan, in 2013.
  • Significant increase in depreciation charge due to start-ups.
  • Difficult environment in welding business (included in other businesses).

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