Air Liquide SA · EURONEXT:AI

Air Liquide SA — H1 2004 Earnings Presentation

18 slides from Air Liquide SA's earnings presentation, Jul 27, 2004

  1. Slide 1: Consolidated Sales 1st Half 2004

    Consolidated Sales 1st Half 2004 27th July 2004

  2. Slide 2: 1st Half 2004 consolidated sales

    1st Half 2004 consolidated sales ƒ Benoît Potier: Chairman of the Management Board ƒ Jean-Claude Buono: Executive Vice-President Member of the Management Board ƒ John Glen: Group Finance Director Agenda: D Introduction (Benoît Potier) D Key data, performance analysis (John Glen) D Conclusion (Benoît

  3. Slide 3: Introduction

    Introduction Benoît Potier 3 Consolidated Sales 1st Half 2004 - 27 July 2004

  4. Slide 4: 1st Half: Consolidation of growth

    1st Half: Consolidation of growth Change Change H1 2004 (excl. forex (as reported) Sales in M€ and natural gas) Group 4,470 +6.4% +9.8% Gas & Services 3,919 +6.4% +10.1% 4 Consolidated Sales 1st Half 2004 - 27 July 2004

  5. Slide 5: 1st Half: Sustained level of business

    1st Half: Sustained level of business Growth in Sales G&S Y/Y* Large Industries Industrial Customers 11.6% 12% 12% 9.0% 9.0% 7.8% 8% 8% 6.1% 5.0% 5.0% 5.2% 4.5% 4% 3.2% 4% 2.8% 2.8% 0% 0% Q1 03 Q2 03 Q3 03 Q4 03 Q1 04 Q2 04 Q1 03 Q2 03 Q3 03 Q4 03 Q1 04 Q2 04 Electronics Healthcare 17.7% 18% 12% 14.

  6. Slide 6: 1st Half 2004: Sustained momentum

    1st Half 2004: Sustained momentum John Glen 6 Consolidated Sales 1st Half 2004 - 27 July 2004

  7. Slide 7: Sustained levels of activity

    Sustained levels of activity Sales in M€ H1 2004 H1 04/03 Q2 2004 Q2 04/03 Net Sales as reported 4,470 +6.4% 2,284 +9.2% Of which forex. impact <2.8%> <1.3%> Of which Nat. Gas impact <0.6%> +0.1% Sales growth (excl. forex, NG) +9.8% +10.4% Of which Messer impact +2.7% +5.3% H1 04/03 Q2 04/03 H1 2004

  8. Slide 8: Acquired Messer activities

    Acquired Messer activities „ Good growth over 6 months Messer Sales before divestments M€ Germany UK US Total H1 04 329 36 154 519 Change H1 04/03 (excl. forex.) +4.5% „ Impact on consolidated accounts D Over 2 months: + 111 M€ (net of divestments) D Decision to initiate the divestment process of Me

  9. Slide 9: Americas: Confirmed recovery in the US

    Americas: Confirmed recovery in the US H1: 1,089 M€ +9.9% (excl. fx, NG) „ Strong 02 and N2 volumes (ethylene oxide, steel) „ Further increase 11.5% in H2 sales (refining) 10% Growth Gas & Services* in % 8.3% and co-generation (energy) 8% 6.9% „ Strong growth of liquid 6% 5.3% volumes and cylinders

  10. Slide 10: Asia: Momentum maintained in the 1st half

    Asia: Momentum maintained in the 1st half H1: 687 M€ +9% (excl. fx, NG) „ Japan : 27% Growth Gas & Services* in % Asia-Pacific DSolid growth 20% 13.4% 15.4% 14.0% DLag effect Q2/Q1 13% 9.9% 6.2% „ Emerging Countries : 6% 4.1% D Very strong growth -1% Q1 03** Q2 03 Q3 03 Q4 03 Q1 04 Q2 04 (China > 30

  11. Slide 11: Europe: Strong contribution from growth drivers

    Europe: Strong contribution from growth drivers Europe (excl. France) H1: 1,267 M€ +15.3% (excl. fx, NG) 22.2% „ Ramp-up of Hydrogen volumes 10% Growth Gas & Services* in % 8.2% (50% of Large Industry growth) 8% 7.2% 6.7% 6.7% 6% 4.0% „ Reinforcement of Homecare and 3.8% 4% Hygiene in Europe 2% 0% „

  12. Slide 12: Conclusion

    Conclusion Benoît Potier 12 Consolidated Sales 1st Half 2004 - 27 July 2004

  13. Slide 13: Robust sources of growth

    Robust sources of growth M€ Breakdown of growth (G&S sales excl. fx, NG) +10.1% 4 100 >11% „ 40% : Technology, 4 000 >13% innovation and services +9.2% + new geographies 3 900 „ 30% : Contribution of Messer 3 800 (50% of base growth) „ 30% : Base: +4.6% 3 700 Technology, Emerging innovation, Base ge

  14. Slide 14: Conclusions

    Conclusions „ H1 : confirmation of trends reported in Q1 „ Acquisition of Messer on track „ Robust sources of growth „ Outlook currently favorable „ Full year 2004: "Achieve higher growth in activities and reported net earnings than in 2003 " 14 Consolidated Sales 1st Half 2004 - 27 July 2004

  15. Slide 15: Appendices

    Appendices 15 Consolidated Sales 1st Half 2004 - 27 July 2004

  16. Slide 16: 18 months of growth across all geographic zones

    18 months of growth across all geographic zones Q1 03 Q2 03 Q3 03 Q4 03 Q1 04 Q2 04 H1 04 H1 04/03 H1 04/03 M€ (reported) (reported) (reported) (reported) (reported) (reported) (reported) (reported) (excl. fx,NG) Asia-Pacific 321 320 342 354 349 338 687 +7.2% +9.0% Americas 561 528 532 511 520 569 1

  17. Slide 17: Growth across all activities over the 1st Half

    Growth across all activities over the 1st Half Q1 2004 Q2 2004 H1 2004 H1 04/03 H1 04/03 M€ (reported) (reported) (reported) (reported) (excl. fx, NG) Industrial Customers 838 957 1,795 +8.2% +10.4% Large Industries 540 544 1,084 +5.3% +12.5% Electronics 209 203 412 +1.3% +6.1% Healthcare 308 320 62

  18. Slide 18: Foreign exchange and natural gas prices

    Foreign exchange and natural gas prices Variation €/$ (average value in $) Forex Q2 03 = 1.135 +6.1% Q2 04 = 1.204 Reference 2003 = 1.131 2003/02 = +19.7% 12 Natural Gas 10 USA (USD/mmbtu) Europe (EURO/GJ) Canada (CAD/GJ) 8 6 4 2 0 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7

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