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Airgas Acquisition Boosts Air Liquide’s Sales

Paris-based Air Liquide reported sales for the first half of 2016 of €8.3 billion (US$9.3 billion), up 2.2 percent compared to the prior year, including €511 million (US$571.2 million) of Airgas sales consolidated as of May 23 (closing date of acquisition). 

Profit for the year was €811 million (US$906.6 million), down 4.6 percent compared to the prior year period.

Gas & services sales were €7.6 billion (US$8.5 billion), up 4.3 percent year-over-year, while engineering & construction sales decreased 33.5 percent to €254 million (US$283.9 million). Global markets & technologies sales were €146 million (US$163.2 million), up 10.4 percent.

“This first half has been characterized by the completion of the Airgas acquisition, which will be accretive in 2016, and its first contribution to the group's performance," said CEO Benoît Potier. "In a context of moderate global growth, gas & services sales posted robust growth. Growth is the result of dynamic electronics sales, higher volumes in large industries, and rising healthcare business. This first half is also characterized by a negative currency impact and lower energy prices."

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