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Paris-based Air Liquide reported sales for the first quarter of €5.17 billion (US$5.63 billion), up 38.5 percent on a reported basis and 1.5 percent on a comparable basis verses Q1 2016. Sales were impacted by weaker results in engineering and construction.
Gas & services sales for the first quarter were €5 billion (US$5.44 billion), up 42.3 percent year-over-year on a reported basis and up 2.8 percent on a comparable basis. Engineering & construction sales decreased 58.4 percent to €52.7 million (US$57.3 million).
“The strong growth in sales this quarter reflects the Group's new scale as a result of the acquisition of Airgas," said Benoît Potier, Air Liquide chairman and CEO. "The increase in sales was also the result of a significant improvement in Industrial Merchant, the Group's largest business line, the solid growth in Healthcare and to a lesser extent in Large Industries, as well as the strength of the Global Markets & Technologies business."