What is the industry outlook for Air Liquide?

Consider the following perspectives: (1) According to the Group’s financial reports, Air Liquide’s performance has maintained steady growth in recent years: €16.4 billion in 2015, €18.1 billion in 2016, and €20.3 billion in 2017. (2) Air Liquide has long prioritized R&D in high-tech fields, with annual R&D investment consistently increasing—reaching nearly €270 million in 2016, the highest among industrial gas companies. The Group operates nine global R&D centers, focusing on areas including digitalized production management (enhancing operational efficiency and safety through automation and remote control), renewable energy (hydrogen, biomethane), electronic new materials development, and environmental protection technologies (exhaust gas recovery, wastewater purification), giving it strong competitiveness in the industry. (3) Brand value: The industrial gas sector is relatively niche; across the broader chemical industry, Air Liquide ranked fifth among the world’s top ten chemical brands by brand value in 2017—behind only chemical giants BASF, Dow, Evonik, and DuPont—and remains the undisputed leader within the industrial gas sector.

Zhongzhi Weiye Information | Q3 Financial Results of the World’s Top 50 Chemical Companies Released!

Asia Asahi Kasei: For the first half of fiscal year ending September 30 (April–September), revenue totaled ¥1.346 trillion, down 0.4% year-on-year; net income attributable to parent company amounted to ¥30.841 billion, down 41% year-on-year. Shin-Etsu Chemical: For the first half of fiscal year ending September 30 (April–September), revenue totaled ¥1.2 trillion, down 15.1% year-on-year; net income attributable to parent company amounted to ¥301.4 billion, down 23.2% year-on-year. LG Chem: Q3 sales reached ₩13.49 trillion (approx. USD 10 billion), down 3.5% year-on-year; operating profit stood at ₩860.42 billion, down 5.6% year-on-year; net income declined 18% year-on-year to ₩585.04 billion (approx. USD 433 million). For the first three quarters, sales totaled ₩42.11 trillion, up 13% year-on-year; net income amounted to ₩1.92 trillion, down 13% year-on-year. Hanwha Solutions: Q3 sales totaled ₩2.926 trillion, down 9.7% year-on-year; net income was ₩21 billion, down 85.1% year-on-year. Europe BASF: Q3 sales amounted to €15.7 billion, a decrease of €6.2 billion year-on-year; EBIT before special items stood at €600 million, compared to €1.3 billion a year earlier; net income was -€249 million, versus €909 million a year earlier. Bayer Group: Q3 group sales totaled €10.342 billion, down 0.2% year-on-year; EBITDA before special items stood at €1.685 billion, down 31.3% year-on-year; net income was -€4.569 billion. Linde: Q3 sales totaled USD 8.2 billion, down 7% year-on-year; operating profit reached USD 2.1 billion, up 15% year-on-year; net income stood at USD 1.565 billion. Air Liquide Group: Q3 revenue reached €6.811 billion, up 1.5% year-on-year. Revenue from gases and services amounted to €6.483 billion, up 1.7% year-on-year. Henkel Group: Q3 sales totaled approximately €5.4 billion, achieving organic growth of 2.8%. Sales for the first three quarters of 2023 reached €16.366 billion. Evonik: Q3 sales totaled €3.77 billion, down 23% year-on-year; adjusted EBITDA rose 8% quarter-on-quarter to €485 million, but declined 21% year-on-year. Covestro: Q3 sales totaled €3.6 billion, down 22.7% year-on-year; EBITDA stood at €277 million; net income was -€31 million, compared to €12 million a year earlier. Solvay: Q3 net sales totaled €2.747 billion, down 20.3% organically; basic EBITDA stood at €702 million, down 18.5% organically year-on-year; net sales for the first three quarters of 2023 totaled €9.001 billion, down 9.6% organically; EBITDA stood at €2.331 billion, down 1% organically year-on-year.

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