Air Liquide SA · EURONEXT:AI
Air Liquide SA — Q3 2007 Earnings Presentation
17 slides from Air Liquide SA's earnings presentation, Oct 25, 2007
Slide 1: Consolidated Revenue Third Quarter 2007
Consolidated Revenue Third Quarter 2007 John Glen: Group Finance Director October 25th, 2007
Slide 2: Q3 2007 published growth: +10.3%
Q3 2007 published growth: +10.3% Q3 07 Q3 07/06 Q3 07/06 YTD 07/06 In M revenue as published comparable* comparable* Group 2,941 +10.3% +7.4% +6.7% Gas & Services 2,485 +5.0% +7.9% +6.5% Related Activities 456 +52.7% + 3.4% +7.8% * comparable: excluding impact of currency, natural gas and Lurgi acqu
Slide 3: Strongest quarterly growth in Gas & Services since beginning 2004
Strongest quarterly growth in Gas & Services since beginning 2004 Gas & Services +7.9% 8% +6.3% Sustained demand across 6% +5.3% our activities 4% Ramp-ups and consolidated 2% positions in Europe and Asia-Pacific 0% Q1 Q2 Q3 Comparable YoY growth* * comparable: excluding impact of currency, natural
Slide 4: Acceleration across all activities
Acceleration across all activities Industrial Merchant Large Industries 10% 15% 7.4% 11.1% 5.3% 5.3% 5.4% 8.4% 5.1% 10% 4.0% 4.3% 6.3% 6.4% 5% 5.5% 5.9% 5% 2.1% 0% 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2006 2006 2006 2006 2007 2007 2007 2006 2006 2006 2006 2007 2007 2007 Healthcare Electronic
Slide 5: Europe: investments & stronger demand driving growth
Europe: investments & stronger demand driving growth Europe Gas & Services revenue: 1,338 M Q3 growth 07/06* Industrial Merchant: Europe Strong demand in Germany +7.6% Contribution from UK consolidation Industrial Merchant +5.5% Large Industries: Large Start-up in Russia Industries +10.0% Ramp-ups i
Slide 6: Americas: Contrasted performance
Americas: Contrasted performance Industrial Merchant: Americas Gas & Services revenue: 620 M Q3 growth 07/06* Strong demand and favorable pricing in the US Americas +2.7% Activity stable in Canada Industrial Merchant +5.7% Sustained growth in South America -1.9% Large Industries Large Industries: He
Slide 7: Sustained rapid development in Asia
Sustained rapid development in Asia Industrial Merchant: Asia-Pacific Gas & Services revenue: 480 M Q3 growth 07/06* Stable in Japan Asia-Pacific Strong growth in rest of Asia +16.1% Industrial Electronics: Merchant +3.6% Strong seasonal demand for TFT- Electronics +34.7% LCD screens and semi-conduc
Slide 8: Related activities revenue up +53% due to Lurgi
Related activities revenue up +53% due to Lurgi Related activities revenue: 456 M Q3 growth 07/06* Engineering: Related activities Lurgi technology embedded into +3.4% hydrogen offer and integration in progress E&C +6.2% Lurgi +198% Capacities fully loaded Welding +3.7% Progressive orientation towar
Slide 9: Profitability and financial structure
Profitability and financial structure Gas & Services: improved recurring operating margins Industrial Capex: +30% for the year Acquisition spend: 1.2 bn to end September New EMTN issues at competitive pricing Debt maturity lengthened 70% fixed rate Average cost of debt stable Total share buy-backs:
Slide 10: Strategic moves in Q3
Strategic moves in Q3 Mid-term objectives Energy Lurgi completion Emerging countries & Energy Start-up of SeverStal in Russia – 3000t/d of O2 Investments: +2 to 3% Emerging New long-term Electronics contracts in China, markets Singapore and Vietnam New liquid capacity in Bulgaria Electronics & Healt
Slide 11: 2007 guidance
2007 guidance We confirm our guidance for 2007 of “double digit growth in net profit” 11 Q3 2007 Consolidated Revenue - October 25, 2007
Slide 12: Appendices
mar LIQUIDE Appendices
Slide 13: Growth in all geographic zones
Growth in all geographic zones Q3 Revenue in M Q2 06 Q3 06 Q4 06 Q1 07 Q2 07 Q3 07 Q3 07/06 07/06 comparable published Europe 1,267 1,249 1,350 1,351 1,323 1,338 +7.2% +7.6% Americas 632 640 616 628 641 620 (3.1%) +2.7% Asia-Pacific 433 434 432 431 450 480 +10.5% +16.1% Africa & Middle East 44 44 42
Slide 14: Growth in all business lines
Growth in all business lines Q3 Revenue in M Q2 06 Q3 06 Q4 06 Q1 07 Q2 07 Q3 07 Q3 07/06 07/06 comparable published Industrial Merchant 1,086 1,078 1,109 1,091 1,108 1,112 +3.1% +5.4% Large Industries 698 716 733 763 729 734 +2.6% +6.4% Electronics 226 215 211 214 235 244 +13.4% +20.1% Healthcare 3
Slide 15: Continuing currency impact
Continuing currency impact Currency (in M) Q1 07 Q2 07 Q3 07 /USD (41) (35) (34) /CAD (14) (6) (1) /JP¥ (27) (30) (23) Others (19) (10) (6) Currency impact (101) (81) (64) Average exchange rates for the period Q2 06 Q3 06 Q4 06 Q1 07 Q2 07 Q3 07 /USD 1.25 1.27 1.29 1.31 1.35 1.37 /CAD 1.41 1.42 1.46
Slide 16: Natural gas prices impact
Natural gas prices impact In M Q1 07 Q2 07 Q3 07 Natural gas impact -25 +11 (8.6) 12 USA (USD/mmbtu) Europe (EURO/GJ) Canada (CAD/GJ) 10 8 6 4 2 0 jan may sept jan may sept jan may sept jan may sept jan may sept jan may sept jan may sept jan may sept jan may sept 1999 2000 2001 2002 2003 2004 2005 2
Slide 17: Consolidated Revenue Third Quarter 2007
Consolidated Revenue Third Quarter 2007 John Glen: Group Finance Director October 25th, 2007