Air Liquide has released third quarter business performance statistics – which indicates the improvements the company has experience in 2013 has continued in the penultimate section of the fiscal calendar.
Group revenue for the third quarter of 2013 was €3,765m, up +5.1% compared with the same period in 2012, after adjusting for currency impacts, which were significant this quarter, and for natural gas impacts. “This confirms the continued improvement of our activity since the beginning of 2013,” the company statement said.
Gas & Services sales reached €3,444m, also rising +5.1%, adjusted for currency and natural gas impacts. Growth was observed across all businesses and geographies, and Gas & Services sales for industry in developing economies grew at a comparable rate close to +9%.
The Americas turned in a good performance, due in particular to the dynamism of Large Industries and the resilience of Industrial Merchant. Industrial business in Europe continues to benefit from start-ups and ramp-ups of new units in Russia and Ukraine. Asia Pacific revenue was driven by an improvement in sales in Japan, particularly in Electronics. Healthcare revenue for the quarter showed a significant rise of +13.2%, adjusted for currency impacts, attributable to higher volumes and the acquisition of both LVLMédical and Gasmedi.
Engineering & Technology (E&T) revenue rose +13.2%, adjusted for currency impacts, boosted by equipment sales to third-party clients.
Efficiency gains through September 2013 reached €209m, ahead of the annual objective of more than €250m, and contributed to the group’s operating performance.
Third quarter highlights include the major investments with the securing of new agreements with BASF in the Antwerp industrial basin, Altos Homos de Mexico in northern Mexico, and with an energy operator client in the United States. Completion of the acquisition of Voltaix in the electronics sector in the US was another highlight.
Benoît Potier, Chairman and CEO of the Air Liquide Group, stated, “Our performance this quarter is in line with the positive trend observed since the beginning of the year, driven by our Healthcare activity, the dynamism in the Americas and Eastern Europe, as well as an improvement in Japan and in Electronics.”
“Our operating performance is strong and the group continues the realignment required to improve its competitiveness and efficiency. The level of investment remains sustained and mostly focused on growth projects.”
“Our 12-month portfolio of opportunities remains at a high level which attests to the confidence of our customers over the medium term.”
“Barring a degradation of the environment, Air Liquide is confident in its ability to deliver another year of net profit growth in 2013.”