Business Intelligence Financial – Air Products – Q1 2015


gasworld’s Business Intelligence provides you with the latest analysis of Air Products’ Q1 2015 earnings reports.

  • Total reported sales down -6% at $2.4bn after nearly three years of growth.
  • Operating Income again showed strong growth, +15% YoY, continuing acceleration over recent quarters. Driven by improved volumes and pricing (around half), and costs reduction and efficiency (also around half).

  • Operating margin continued improving trend of recent quarters and was up over 300 basis points YoY – highest operating margin in over 25 years. Helped by top line impact of lower energy cost pass-through.
  • Selling and admin costs again down, -8% YoY.
  • R&D expenditure growth accelerated to +10%.
  • Further charge of $55m for restructuring and cost reduction.
  • New focus on EBITDA reflected in +10% growth YoY in Q1 and 440 basis points improvement in EBITDA margin to over 29% of sales.
  • Free cash flow improved significantly YoY.
  • EPS up +17% YoY. FY2015 EPS projected to rise by +10% to +13%.

... to continue reading you must be subscribed

Subscribe Today

Paywall Asset Header Graphic

To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.

Please wait...