Air Liquide’s H1 net profit falls 4% to €752m on restructuring

30 July 2013 12:56  [Source: ICIS news]

LONDON (ICIS)--Air Liquide's first-half net profit fell 4% year on year to €752m ($1.0bn), with costs associated with restructuring and layoffs in western Europe weighing on profitability, the French industrial gases supplier said on Tuesday.

Group revenue for the first six months of this year edged up 0.4% year on year to €7.56bn on a reported basis, and 3% higher adjusted for currency and natural gas impacts, Air Liquide said.

A weaker euro against other currencies caused a €170m decrease in revenue, it added.

Air Liquide reiterated that “barring a degradation of the environment” it forecasts its net profit for the full 2013 will be higher in 2012, despite the decline in the first half.

“The operating performance for the first half of 2013 is positive and in line with our expectations,” said Benoit Potier, the chairman and CEO of Air Liquide.

“It is the result of the improvement in activity observed in the second quarter, boosted in particular by growth in Large Industries, Healthcare and the developing economies, as well as by the group’s ability to control costs and generate substantial efficiencies,” he added.

Air Liquide noted that its industrial investments and acquisitions in the first six months of 2013 reached more than €1bn.

($1 = €0.75)

By: Will Conroy
+44 20 8652 3214

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