The leading manufacturer of industrial gases Air Liquide has posted its results on Monday for the first half of the year. Its sales climbed 9.7% as reported (6.3% excluding currency and natural gas) to 6.516 billion euros. Net income group share increased 13.3% to 676 million euros. For its part, the operating profit jumped 22% to 1.084 billion euros.
The operating margin reached 16.6%, an increase of 160 basis points over the first half of 2009, "resulting from increased volumes consumed by customers and the effectiveness of operational control," according to the release of the group.
Activity and gas services, which represents more than 87% of total turnover, grew by 13.4% as reported (9.5% on a comparable).The sales increase primarily in the Asia-Pacific (+25.2% to 1.213 billion euros), while activity in Europe increased slightly by 4.4% to just over 3 billion euros.
Progression from the pre-crisis
For Benoît Potier, Chairman and CEO of Air Liquide, the company posted a "solid growth in its turnover and its results compared to both 2009 and pre-crisis level of 2008."Turnover has indeed found the same level as in the first half of 2008, while net income group share was up 12.4% over the same period.
Benoit Potier said that evolution is "the result of the continued increase in demand for our customers but also the adaptability of the group to a new environment, thanks to ALMA," referring to a development program Group launched in 2008.
Therefore, the band announced maintain his target new growth in net profit in 2010, a continuation of our historical performance.
At 10:00, the Air Liquide was down 0.44% to 85.99 while the CAC 40 rose 1.52%.
Sales Linde also up sharply
German rival Linde, number two on the market, has also published its interim results on Monday.Group sales rose 11.5% to 6.104 billion euros. Operating income reached 1.396 billion euros, up 26.4% year on year. Net income jumped nearly 80% to 445 million euros.
Linde has also confirmed its objective to grow revenues and operating income for the year 2010.