Air Liquide SA · EURONEXT:AI
Air Liquide SA — H1 2003 Earnings Presentation
16 slides from Air Liquide SA's earnings presentation, Jul 28, 2003
Slide 1: Consolidated Sales First Half 2003
Consolidated Sales First Half 2003 July 28, 2003
Slide 2: First Half 2003 Consolidated Sales as of June 30, 2003
First Half 2003 Consolidated Sales as of June 30, 2003 " Benoît Potier: Chairman of the Management Board " Jean-Claude Buono: Executive Vice-President Member of the Management Board " John Glen: Group Finance Director Agenda: ! Opening comments (Benoît Potier) ! Key figures, update on Japan Air Gase
Slide 3: Key figures, Update on Japan Air Gases
Key figures Update on Japan Air Gases John Glen 3 First Half Sales – July 28 2003
Slide 4: Good performance in H1, 2003
Good performance in H1, 2003 June 30, 2003 (key figures) H1/03 Total Sales (M€): 4,202 Sales (at constant forex, nat. gas @ 99 price) Growth as reported (Y/Y) +6.8% M€ !Currency effect: -7.8% 2 000 !Natural gas effect: +4.5% !JAG consolidation effect: +4.6% 1 500 Global growth from operations (Y/Y)
Slide 5: Japan Air Gases (JAG)
Japan Air Gases (JAG) JAG H1 2003 sales by business line ! Joint venture between Air Liquide 5% 8% (55%) and BOC (45%) fully consolidated from January, 2003 33% ! First half sales: 443 M€ 54% (+2.4% on pro-forma basis) Large Industries Electronics ! Consolidation impact on Group sales in H1: 183 M€
Slide 6: Sales - H1 2003 Key figures by activity
Sales - H1 2003 Key figures by activity Y/Y Y/Y H1 2003 M€ as published comparable basis !Large Industries: 1,030 +13.4% +3.6% !Electronics: 406 +14.2% +11.7% !Industrial Customers: 1,659 +3.7% +1.8% !Healthcare: 589 +0.6% +3.6% Total Gas & Services: 3,684 +6.8% +3.6% !Related activities: 518 +6.6%
Slide 7: Gas and Services sales - H1 2003 Key figures by geographic region
Gas and Services sales - H1 2003 Key figures by geographic region ! Growth in all areas on a comparable basis Y/Y Y/Y H1 2003 M€ as published comparable basis !France: 773 +7.7% +5.6% !Europe (excl. France): 1,112 +6.1% +4.1% !Americas: 1,088 -4.9% +0.2% !Asia-Pacific: 641 +33.6% +8.1% !Africa: 70 +
Slide 8: Geographic and business highlights, Overall perspectives
Geographic and business highlights Overall perspectives Benoît Potier 8 First Half Sales – July 28 2003
Slide 9: Geographic highlights
Geographic highlights +5.6%* France ! France: France ! Good performance in all business lines ! Led by Large Industries and Healthcare ! In a flat economic environment H1 2002 Sales H1 2003 Europe +4.1%* (excl. France) ! Europe (excl. France): ! Good production levels in air gases markets ! Ramp-up
Slide 10: Geographic highlights
Geographic highlights ! USA: ! Slowdown of petrochemical production due to continued high Americas +0.2%* energy prices ! Resilient liquid gas volumes in soft economy, positive price trends ! Successes in Electronics ! Continued management of portfolio and best practice in homecare ! Canada: ! Econo
Slide 11: Geographic highlights
Geographic highlights ! Asia- Asia-Pacific: JAG ! Slight impact of SARS in Q2 impact Asia- Asia-Pacific ! Large chemical projects in promising +8.1%* growth basins ! Japan: recovery of semi-conductor industry ! China: new plant loading ahead of H1 2002 Sales H1 2003 plan; good development in Electro
Slide 12: Overall business perspectives
Overall business perspectives ! Large Industries: Industries !Solid H1 !High utilization rates in O2 !Principal markets set to grow in second half of the year !Promising H2/CO projects in portfolio ! Electronics: Electronics !Ongoing growth for last 6 quarters !Recovery firming up !Double-digit grow
Slide 13: Appendices
Appendices 13 First Half Sales – July 28 2003
Slide 14: Gas and Services sales - H1 2003
Gas and Services sales - H1 2003 ! ! Sales (M€): Q1 Q2 y/y H1 y/y !Large Industries: 540 490 1,030 !Electronics: 203 203 406 !Industrial Customers: 830 829 1,659 !Healthcare: 290 299 589 Total 1, 863 1,821 +4.3% 3,684 +6.8% Including y/y effects (M€): (M€): Q1 Q2 H1 !Currency: -148 -143 -291 !Natura
Slide 15: Natural gas price
Natural gas price 12 US (USD/mmbtu) 10 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 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 Month Year 1999 2000 2001 2002 2003 15 First Half Sales – July 28 2003
Slide 16: Share buy-backs
Share buy-backs ! Share buy-backs as of June 30, 2003 521,200 shares (average price 124.4€) ! Share buy-backs as of July 25, 2003 560,574 shares ! Average number of shares outstanding as of June 30, 2003 98,545,406 shares 16 First Half Sales – July 28 2003