Revenues first half 2016 Air Liquide

Air Liquide closed the first half of 2016 with Group revenues of 8.295 million euros, including 511 million of acquired Airgas sales consolidated as of 23 May 2016. The growth was +2,2% on a reported basis, and +8% excluding the currency and energy negative impact, both unfavorable during the period (respectively, -2,6% and -3,7%). Gas & Services sales grew by +4,3%, at 7.618 million euros, including Airgas sales, and by 10,6% excluding currency and energy impact, with all geographies progressing on a comparable basis, and more pronounced in Asia Pacific and developing economies, that posted sales growth up to +11,4%.

The Group generated 143 million euros in recurring efficiency gains, in line with the forecasts for the year. The Gas & Services operating margin was 19,6%, the net profit (Group share) reached 811 million euros (842 million excluding the impact of Airgas acquisition), and cash flow was up substantially at +23%, excluding Airgas. “The Airgas acquisition characterized the first half of 2016 – commented Benoît Potier, chairman and ceo of Air Liquide – and it will be accretive in 2016. In a context of moderate global growth, Gas & Services sales posted a robust growth, as a result of dynamic Electronics sales, higher volumes in Large industries and rising Healthcare business. We are confident in the ability of the completion of the acquisition of Airgas to generate growth in 2016, both in net profit and in net earnings per share, and the investment backlog, amounting to 2,1 billion euros, and recently signed new contracts, will also contribute to growth in the coming years”.

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