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Air Liquide Boosts 2022 Profit Forecast Amid Rising Energy Prices and Robust Demand for Gases
Air Liquide Boosts 2022 Profit Forecast Amid Rising Energy Prices and Robust Demand for Gases

Air Liquide Boosts 2022 Profit Forecast Amid Rising Energy Prices and Robust Demand for Gases

  • 20-Feb-2023 11:53 AM
  • Journalist: Gabreilla Figueroa

France [Europe]: Air Liquide, the French industrial gases company, announced a promising forecast for their 2022 profits. The company looks to higher pricing to balance out increasing energy costs in order to secure increased profit for the year. Offering a range of gases such as Oxygen, Nitrogen and Hydrogen, Air Liquide is looking to further improve their operating margin this year, with current core profits exceeding expectations.

"Faced with a sharp and sustained rise in energy prices, the Group has demonstrated both the strength of its business model and its ability to rapidly adapt its pricing for Industrial Merchant customers," Chief Executive Officer Benoit Potier said in a statement.

Air Liquide recently reported a considerable increase in their full year recurring operating income, rising 12.7% on a comparable basis to 4.16 billion euros ($4.72 billion). This impressive growth surpasses the analysts' 4.09-billion-euro expectations and is attributed to the strong rise of Natural gas prices worldwide, fuelled by increased demand from Asia as the region rebounds from pandemic effects and low inventories combined with tighter-than usual supplies from Russia.

Europe's chemical index experienced a remarkable 22% year-over-year increase in 2021, fuelled largely by Air Liquide's 14.2% surge. Of the Gas and Services activities, which make up approximately 95% of the group's total sales, earnings rose to 22.27 billion euros - surpassing analysts' projections of 22.12 billion euros. This is a significant accomplishment and suggests that Europe's chemical industry is continuing to make impressive strides.

The company reported a strong full-year sales performance, exceeding forecasts of 23.13 billion euros. Sales surged to 23.34 billion euros; an 8.2% increase compared to the same period last year.

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