Air Liquide Sa · EURONEXT:AI
Air Liquide Sa — L'Air Liquide Ord — Q3 2024 Earnings Presentation
25 slides from Air Liquide Sa's earnings presentation, Oct 23, 2024
Slide 1: Q3 2024 Activity
Q3 2024 Activity François Jackow, Chief Executive Officer Jérôme Pelletan, Chief Financial Officer Emilie Mouren-Renouard, Vice President Adam Peters, Vice President Paris, October 23, 2024 Credit: Adrien Daste 1 Q3 2024 Activity - October 23, 2024
Slide 2: Delivery on Track
Delivery on Track François Jackow - Chief Executive Officer 2 THIS DOCUMENT IS PUBLIC Q3 2024 Activity - October 23, 2024
Slide 3: Q3 2024: Strong Execution Delivering High Performance
Q3 2024: Strong Execution Delivering High Performance Resilience Strong Performance Building the future Comparable Group OIR Investment Sales growth margin(2) Backlog +3.3% (1) + 100 € 4.2 bps bn YTD Sept. In line with CO2 trajectory (1) Including +2% contribution from Argentina (2) Operating Income
Slide 4: Q3 2024: Investment Decisions at a Record Level of €1.4bn
Q3 2024: Investment Decisions at a Record Level of €1.4bn Major long-term contracts signed ASU ASU takeover ASUs CAM(1) manufacturing Chemicals Copper production $150m €60m €100m capex capex capex with air gases for IM with argon for IM with air gases for IM (1) Cathode Active Material for lithium-i
Slide 5: Resilient Sales Growth Strong Backlog
Resilient Sales Growth Strong Backlog Jérôme Pelletan - Chief Financial Officer 5 THIS DOCUMENT IS PUBLIC Q3 2024 Activity - October 23, 2024
Slide 6: Resilient Comparable Sales Growth in a Challenging Environment
Resilient Comparable Sales Growth in a Challenging Environment Sales in €m Q3 23 Q3 24 Q3 24/23 Q3 24/23 YTD 24/23 As published Comparable Comparable (1) Gas & Services 6,483 6,445 -0.6% +3.6% +3.0% Engineering & 110 110 +0.2% -0.0% +6.2% Construction Global Markets & 218 207 -5.0% -4.6% -3.0% Techn
Slide 7: Growth in all Activities
Growth in all Activities Q3 2024 Gas & Services comparable sales growth by Activities Europe +9% -2% Asia-Pacific +4% Americas +6% +8% Middle-East Africa +3% +1% +2% G&S Comparable sales growth +4 % 7 THIS DOCUMENT IS PUBLIC Q3 2024 Activity - October 23, 2024
Slide 8: Q3 - Continued Strength in Americas, Soft Industrial Demand in Europe
Q3 - Continued Strength in Americas, Soft Industrial Demand in Europe Americas All activities contributing to growth ▪ 1 major ASU start-up in Q1, high USA base volumes ● LI ▪ Customer turnarounds FY 23: +5.1% FY 24: +10% +8% Sales ▪ Solid +6.9% pricing ● IM ▪ Resilient gas volumes Q3 2024 +3% +3% €
Slide 9: Q3 – Asia Back to Growth, Portfolio Optimization in AMEI
Q3 – Asia Back to Growth, Portfolio Optimization in AMEI Asia LI and EL strong drivers ▪ Major start-up in China in March FY 24: Sales ● LI ▪ Less customer turnarounds FY 23: +1.8% Q3 2024 ▪ Pricing impacted by Helium €1,340m ● IM ▪ Growing sales excl. Helium, strong PG (1) in China ▪ Strong growth
Slide 10: Q3 – Continued Growth in IM, Improved LI
Q3 – Continued Growth in IM, Improved LI Industrial Merchant Large Industries Resilient sales growth Start-ups contribution offsetting turnarounds Sales FY 24: Sales FY 23: +8.5% FY 23: -1.8% Q3 2024 Q3 2024 €2,945m €1,818m ● Sustained +4.1% pricing on top of +6.5% in Q3 23 ● 2 Start-ups in China an
Slide 11: Q3 – Growing Electronics, Continued Momentum in Healthcare
Q3 – Growing Electronics, Continued Momentum in Healthcare Electronics Healthcare (1) All segments contributing to growth, except SM HHC & Medical gases driving growth FY 24: Sales FY 24: Sales FY 23: +2.4% FY 23: +8.4% Q3 2024 Q3 2024 €628m €1,054m ● Very solid contribution from SU/RU(2) in Carrier
Slide 12: Focused on Execution
Focused on Execution IM Pricing Efficiencies Portfolio Management YTD 14 acquisitions +4.2% €353m +8.4% ■ 4 in USA ■ 5 in China +10% YoY ■ 1 in Canada ■ 2 in Italy +14.7% ■ 1 in Austria ■ 1 in Sweden +3.6% 5 divestitures 2021 2022 2023 2024 €400m ■ Aerospace technology activity YTD Cumulative IM prici
Slide 13: Continued Active Management of IM Pricing
Continued Active Management of IM Pricing Solid IM pricing Continued accretive margin Total contribution Industrial Merchant Value-added offers & service quality ina focus to customers as ent Airg Arg Americas +3.5% +3.1% Europe In Europe Pricing from Asia-Pacific Energy index* Middle-East & Africa P
Slide 14: Backlog >€4bn
Backlog >€4bn Q3 2024 Investment KPIs(1) Sales Contribution from Start-up / Ramp-up(2) 12-months investment Investment Investment Opportunities Decisions Backlog YTD €185m Q3 2024 € 4.0 € 1.4 € 4.2 bn bn bn FY 2024 €230 Outlook - Stable at high level: Record level: Well balanced between: 250m ▪ >40%
Slide 15: Q3 2024 Key Takeaways Executing ADVANCE strategic plan
Q3 2024 Key Takeaways Executing ADVANCE strategic plan ▪ Confirmed sequential sales growth - strong resilience ▪ Delivering increased performance - structural efficiencies ▪ Backlog >€4bn - laying the foundations for the future ▪ Year end guidance confirmed 15 THIS DOCUMENT IS PUBLIC Q3 2024 Activity -
Slide 16: Accelerating to Deliver Key Milestones
Accelerating to Deliver Key Milestones 2024 guidance Air Liquide is confident in its ability to further increase its operating margin and to deliver recurring net profit growth, at constant exchange rates.(1) Enhanced 2025 objectives (1) Operating margin excluding energy passthrough impact. Recurring
Slide 17: Appendix
Appendix 17 THIS DOCUMENT IS PUBLIC Q3 2024 Activity - October 23, 2024
Slide 18: Q3 2024 - Beneficial Mix of Geographies and Activities
Q3 2024 - Beneficial Mix of Geographies and Activities Q3 2024 Gas & Services Revenue €6,445m 3% Global Markets & Technologies Engineering & Construction 1% 9% Electronics Europe Asia-Pacific 44% Industrial Americas Merchant €2.2bn Africa €1.3bn €2.6bn 16% Healthcare Middle-East €6,762m €0.3bn Q3 2024
Slide 19: Q3 2024 - Sales by Geographies and by Activities
Q3 2024 - Sales by Geographies and by Activities Americas Europe Asia 5% 2% 11% 32% IM 32% 34% 28% Q3 24 LI sales split HC 14% €2,562m €2,247m €1,340m EL 70% 4% 34% 34% +8.2% -1.5% +4.1% Q3 24/23 incl. +5.1% from Argentina(1) Comparable +1% Sales Growth +6% +7% (1) In light: contribution from Argent
Slide 20: Q3 2024 - Group Simplified Organization - AMEI reported with Europe
Q3 2024 - Group Simplified Organization - AMEI reported with Europe EMEA(1) Gas & Services comparable sales growth EMEA(1) 2% 28% 31% Q3 24 sales split €2,542m 39% -1.2% Q3 24/23 Comparable Sales Growth Reporting to be effective from Q4 2024 (1) EMEA: Europe Middle-East Africa India 20 THIS DOCUMENT
Slide 21: Impact of Currency and Energy on G&S Revenue
Impact of Currency and Energy on G&S Revenue in €m Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 €/ARS (40) (62) (97) (182) (153) (161) (142) €/Rmb (18) (51) (83) (42) (36) (12) +0 €/USD +102 (50) (177) (121) (27) +26 (22) €/JP¥ (20) (17) (26) (21) (27) (23) (8) €/TRY (5) (13) (9) (7) (12) (1) (12) €/ZA
Slide 22: Investment Cycle – Definitions
Investment Cycle – Definitions Investment opportunities at end of the period ▪ Investment opportunities under consideration by the Group for decision within 12 months. ▪ Industrial projects with investment value > €5m for Large Industries and > €3m for other business lines. ▪ Includes asset replaceme
Slide 23: Regular and Sustained performance
Regular and Sustained performance CAGR over 30 years(1) Revenue (in €m) EPS (2) (in €) +6.1% +7.2% Cash Flow (in €m) Dividend Per Share(2) (in €) +7.2% +8.7% (1) Calculated according to prevailing accounting rules over 30 years (2) Based on current year results and proposed for payment the following
Slide 24: For further information, please contact:
For further information, please contact: Upcoming events 2024 Full Year Results: February 21, 2025 Investor Relations www.airliquide.com IRTeam@airliquide.com Follow us Linkedin Corporate Headquarters: 75, Quai d’Orsay 75321 Paris Cedex 07 Tel : +33 (0)1 40 62 55 55 Communication RCS Paris 552 096 2
Slide 25: Disclaimer
Disclaimer This presentation may contain forward-looking statements (including objectives and trends) about Air Liquide’s financial situation, operating results, business activities and strategy. Although Air Liquide believes that the expectation reflected in such forward-looking statements are reason