By Pierre Bertrand
Air Liquide SA said Thursday that profits and revenues rose in the first half, boosted by higher energy prices, and maintained its outlook for the rest of the year.
The French industrial gases company generated net profit of 1.31 billion euros ($1.34 billion) in the period, compared with 1.24 billion euros a year earlier.
Turnover increased by 31%, from 10.85 billion euros to 14.21 billion euros, due to the increase in energy prices. Revenue from the gas and services unit – the company’s largest, generating 96% of group revenue – rose 31% to 13.6 billion euros. The unit’s performance so far this year has been driven by growth in all of its geographies, led by Europe and the Middle East, followed by the Americas.
In the second quarter, turnover amounted to 7.32 billion euros against 5.51 billion euros a year earlier. Analysts had expected second-quarter sales of 7.17 billion euros, according to a consensus estimate compiled by FactSet.
Looking ahead, the company expressed confidence in its ability to further increase its operating margin and generate recurring growth in net profit at constant exchange rates.
Write to Pierre Bertrand at [email protected]
(END) Dow Jones Newswire