Air Liquide disclosed that its net profit has increased in the year 2023, amounting to 3.08 billion euros, compared to EUR2.76 billion the previous year. Despite a decline in sales, the company’s operating margin saw an increase.
Revenue Decline and Growth
The French industrial-gases company experienced a decrease of 7.8% in group revenue, totaling EUR27.61 billion. This drop was attributed to falling energy prices and negative currency effects. Notably, certain geographies within the gas and services sector, such as the Americas and Europe, witnessed growth during this period.
Financial Performance Against Analysts’ Expectations
Although the net profit fell short of analysts’ predictions at EUR3.29 billion, the revenue slightly exceeded estimates at EUR27.53 billion. Air Liquide remains optimistic about its prospects for 2024, aiming to enhance its operating margin and achieve consistent net profit growth.
Dividend Proposal and Operating Margin Increase
Air Liquide has proposed a dividend of EUR3.20 per share. The company’s operating margin rose by 0.8 percentage points in 2023, excluding energy impacts, and by 1.5 percentage points over the two-year period from 2022 to 2023. It plans to double its operating margin target by increasing it by 3.2 percentage points by 2025.