Air Liquide will continue with its “ALMA” programme. The key strategic goal of the programme is to be the recognised leader of its industry by 2012. Through the ALMA strategy, the company believes it will enable it to speed up its growth and increase its competitiveness. The strategy is based on four major themes: build leadership positions, drive innovation, deliver efficiency, and develop talents. 
“Being the number one in our sector, the recognised leader, means opening new markets, attracting fresh talent, developing our activities by bringing new solutions to our customers, and acting in a socially responsible manner. It also means being capable of maintaining strong operational and financial performances over the long term”, says chairman and chief executive officer, Benoit Potier.
The ALMA strategy will be implemented through a series of key projects that aim to improve its performances and transform its practices and businesses. These key projects, which extend across all of the business lines and geographic zones, have been allocated set goals. These include:
Cost savings of Euro600m over the next three years; and
Doubling of its investments to Euro10bn by 2011.
Strategy
The pursuit of sustained long-term growth is at the core of the Air Liquide’s strategy and is based on the following:
Developing the business
(1) Air Liquide will focus on its key business lines where it intends to profit from future growth;
(2) Human resources will be key to its development in new and rapidly growing geographical areas; and
(3) Focus on innovation aimed at bringing added-value to customers via its manufacturing process will enable the company to adopt early positions in segments identified as potential medium or long-term growth engines: hydrogen in refining, new energies requiring the combined use of huge quantities of oxygen and hydrogen, therapeutic gases in Healthcare, cutting-edge technology in Electronics, and so on.
Financial expectations
(1) Its annual growth objective for revenue is between 8% and 10%, with an after-tax return on capital employed (ROCE) of between 11% and 12%. This it believes should enable Air Liquide to double in size over the next seven or eight years.
Improved profitability
(1) The mobilisation and continued efforts of Air Liquide’s employees contribute to cost reduction and increased productivity. The company has already set up several savings and optimisation programmes.
A sound balance sheet
(1) With a solid financial structure, the company says that it is able to accelerate its development through organic or external growth while maintaining an efficient balance sheet.
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Financial highlights: Air Liquide, year ended 31 December
|
|
2008 |
2007 |
2006 |
2005 |
2004 |
|
Sales (€ m) |
13,103 |
11,801 |
10,949 |
10,435 |
9,428 |
|
Operating Profit (€ m) |
1,949 |
1,794 |
1,224 |
9,148 |
8,275 |
|
Net Profit (€ m) |
1,220 |
1,123 |
1,002 |
933 |
780 |
|
Total Assets (€ m) |
20,605 |
18,292 |
-- |
-- |
-- |
|
Diluted earnings per share (€) |
4.70 |
4.26 |
4.14 |
8.66 |
7.23 |
|
Number of Employees |
43,000 |
40,000 |
36,900 |
36,000 |
35,900 |
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Air Liquide
Company Structure
Air Liquide is an international group specialised in industrial and medical gases and related services. The company was founded in 1902 through the discovery of the liquefaction of air. On 6 May 2004, Air Liquide completed the acquisition of Messer Griesheim's industrial gas activities in Germany, the UK and the US.
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