Air Products And Chemicals, Inc. · NYSE:APD
Air Products And Chemicals — Q1 2025 Earnings Presentation
19 slides from Air Products And Chemicals's earnings presentation, Feb 6, 2025
Slide 1: Creating Shareholder Value: First Quarter 2025 Earnings Results
Creating Shareholder Value First Quarter 2025 Earnings Results Teleconference February 6, 2025
Slide 2: Air Products Leadership
Air Products Leadership • Air Products Director • CEO effective since 2021 February 7, 2025 • 35 years senior • Three-and-a-half management decades of leadership experience in experience in chemicals industries, industrial gases including extensive • Joining the industrial gases Air Products Board l
Slide 3: Forward-Looking Statements and Non-GAAP Financial Measures
Forward-Looking Statements This presentation contains “forward-looking statements” within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements about earnings guidance, business outlook and investment opportunities. These forward-looking statements
Slide 4: Safety Results
Safety Results Q1FY20 Q1FY25 % Change Employee Lost Time Injury Rate 0.06 0.03 50% better Employee Recordable Injury Rate 0.37 0.21 43% better 4
Slide 5: First Quarter Results
First Quarter Results • Q1 Adjusted EPS* of $2.86 ($ million) Q1 Y-o-Y - Exceeded upper end of guidance range driven FY2025 Growth by favorable results in the Americas Sales $2,932 (2%) - Improved over prior year notwithstanding LNG Adjusted EBITDA* $1,191 +1% business divestment completed in Septem
Slide 6: FY25 Outlook
FY25 Outlook* Q2 FY25 Vs. Prior Year FY25 Vs. Prior Year Adjusted EPS*(A) Vs. Prior Year (adj. for LNG)(A) Adjusted EPS*(A) Vs. Prior Year (adj. for LNG) (A) $2.75 to $2.85 (4%) to -% 1% to 4% $12.70 to $13.00 +2% to 5% +6% to 9% FY25 capital expenditures* of $4.5B to $5.0B (A)Air Products completed
Slide 7: Q1 Results
Q1 Results Fav/(Unfav) vs. ($ million) Q1FY25 Q1FY24 Q4FY24 Sales $2,932 (2%) (8%) - Volume (2%) (8%) - Price 1% -% - Energy cost pass-through -% 1% - Currency (1%) (1%) Adjusted EBITDA* $1,191 1% (15%) - Adjusted EBITDA Margin* 40.6% 140bp (350bp) Adjusted Operating Income* $674 1% (21%) - Adjusted
Slide 8: Q1 Adjusted EPS
Q1 Adjusted EPS* Q1FY24 Q1FY25 Change GAAP EPS $2.73 $2.77 Non-GAAP items 0.08 0.09 Adjusted EPS* $2.82 $2.86 $0.04 Volume (0.01) Price, net of variable costs 0.10 Other costs (0.07) $0.02 Currency $0.01 Equity affiliates’ income (0.03) Interest expense 0.04 Noncontrolling interests 0.02 Tax rate (0
Slide 9: Results by Business Segment
Results by Business Segment Q1 Comparison vs. Prior Year – Price +2% (merchant price +4%); positive across most product lines – Weaker merchant volume drove lower sales AMERICAS – Volume +3% driven by significant, non-recurring helium MIDDLE EAST & – Adjusted EBITDA* down 12% due to sale INDIA unfav
Slide 10: Appendix slides
Appendix slides GENERATING A CLEANER FUTURE AIR of.
Slide 11: Americas
Americas Fav/(Unfav) vs. Q1FY25 Q1FY24 Q4FY24 Sales $1,288 3% (2%) - Volume 3% (3%) - Price 2% -% - Energy cost pass-through (1%) 2% - Currency (1%) (1%) Adjusted EBITDA* $597 6% (11%) - Adjusted EBITDA Margin* 46.3% 150bp (480bp) Operating Income $388 10% (13%) - Operating Margin 30.1% 180bp (410bp
Slide 12: Asia
Asia Fav/(Unfav) vs. Q1FY25 Q1FY24 Q4FY24 Sales $817 3% (5%) - Volume 2% (5%) - Price -% -% - Energy cost pass-through 2% 1% - Currency (1%) (1%) Adjusted EBITDA* $350 7% (9%) - Adjusted EBITDA Margin* 42.8% 160bp (170bp) Operating Income $216 2% (11%) - Operating Margin 26.5% (10bp) (190bp) Versus
Slide 13: Europe
Europe Fav/(Unfav) vs. Q1FY25 Q1FY24 Q4FY24 Sales $697 (5%) (5%) - Volume (5%) (3%) - Price 1% -% - Energy cost pass-through (1%) -% - Currency -% (2%) Adjusted EBITDA* $259 (3%) (11%) - Adjusted EBITDA Margin* 37.2% 80bp (280bp) Operating Income $187 (6%) (10%) - Operating Margin 26.7% (30bp) (160b
Slide 14: Middle East & India
Middle East & India Fav/(Unfav) vs. Q1FY25 Q1FY24 Sales $33 ($3) Operating Income ($1) ($5) Equity Affiliates’ Income $85 ($8) Adjusted EBITDA* $91 ($13) − Lower sales due to weaker merchant volume − Adjusted EBITDA* lower driven by unfavorable equity affiliates’ income, costs and volume 14 * Non-GA
Slide 15: Corporate and Other
Corporate and Other Fav/(Unfav) vs. Q1FY25 Q1FY24 Sales $97 ($88) Adjusted EBITDA* ($106) ($22) Operating Income ($117) ($17) − Sales and profits decreased primarily due to LNG business divestment in September 2024 15 * Non-GAAP financial measure is reconciled on our investor website.
Slide 16: Major Project Commitments
Major Project Commitments Expect strong pipeline of growth projects to extend leadership position in low and zero-carbon hydrogen Projects Under Execution Key Investment Attributes Customer / Supply Mode / Plant Location Off-take • Projects with long-term contracts Green H2 AP/NEOM, Saudi Arabia Lon
Slide 17: Cash Flow Focus
Cash Flow Focus Supports dividend and capital deployment ($ million) Q1 FY25 LTM Adjusted EBITDA* $5,063 Interest, net* (228) Cash Tax (649) Maintenance Capex* (813) Distributable Cash Flow* $3,373 $15.14/Share* Dividends (1,570) Investable Cash Flow* $1,803 − >$15/share of distributable cash flow*
Slide 18: Capital Expenditures
Capital Expenditures* FY $MM 2025 Expect $4.5 - $5.0 billion 2024 $5,152 2023 $5,224 2022 $4,650 2021 $2,551 2020 $2,717 FY25 $MM Q1 $1,210 Q2 Q3 Q4 Capital expenditures* are calculated independently for each quarter and may not sum to full year amount due to rounding. *Non-GAAP financial measure is
Slide 19: Thank You
Thank You GENERATING A CLEANER FUTURE
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