Air Liquide SA · EURONEXT:AI
Air Liquide SA — Q1 2007 Earnings Presentation
18 slides from Air Liquide SA's earnings presentation, Apr 25, 2007
Slide 1: Consolidated Revenue First Quarter 2007
Consolidated Revenue First Quarter 2007 John Glen: Group Finance Director April 25th, 2007
Slide 2: Q1: sustained growth and active development
Q1: sustained growth and active development Q1 2007 revenue up +5.2% on a comparable basis Operating Income Recurring growing at a higher rate Î Growth consistent with recent periods Major steps to support new growth ambitions: DStrategic acquisitions DImportant signatures 2 Q1 2007 Consolidated R
Slide 3: Q1 2007 Group revenue growth sustained
Q1 2007 Group revenue growth sustained In €M Q1 06 Q4 06 Q1 07 Q1 07/06 Q1 07/06 revenue as published comparable Gas & Services 2,445 2,440 2,452 +0.3% +5.3% Related Activities 328 360 339 +3.1% +4.5% Group 2,773 2,800 2,791 +0.6% +5.2% Excellent growth in Asia, both Japan and emerging Asia In E
Slide 4: Europe: higher Industrial Merchant growth
Europe: higher Industrial Merchant growth In €M Q1 07 y/y growth* % of Europe G&S Q1 2007 revenue Europe Gas & Services 1,351 +4.1% 43% Industrial Merchant: +3.3% D Better manufacturing environment, stable pricing • Germany, Italy and Spain led by bulk volumes • Cylinders: pick-up in Germany and S
Slide 5: Americas: softer growth in North America
Americas: softer growth in North America In €M Q1 07 y/y growth* Americas Gas & Services 628 +3.2% % of Americas G&S Q1 2007 revenue Industrial Merchant: +3.5% 45% D US: strong demand but capacity constraints, favorable pricing D Canada: weaker energy and mining activity D South America: double di
Slide 6: Asia-Pacific: continued excellent growth
Asia-Pacific: continued excellent growth In €M Q1 07 y/y growth* Asia-Pacific Gas & Services 431 +11.9% % of Asia-Pacific G&S Q1 2007 revenue Industrial Merchant: +7.4% 45% D Japan: strong volume growth and firm pricing in automotive, glass & plastics D China: booming demand in metals, glass & con
Slide 7: Major strategic steps taken in Q1
Major strategic steps taken in Q1 Mid-term growth: +8 to 10% Strengthened engineering capacity with Lurgi Ö Energy CO2 sequestration, new partnership with Total New Research & Technology center in the US +2 to 3% Major contracts signed in air gases: D China: Shagang (steel), Sinopec (chemicals) Ö Em
Slide 8: Increased presence in Asia
Increased presence in Asia Sinopec Qingdao JAG Shagang Thailand Number 1 in Asia Vietnam HSMC Full control of JVs Brunei Lurgi presence New contracts announced Singapore Air Liquide presence 8 Q1 2007 Consolidated Revenue - April 25, 2007
Slide 9: LI projects: accelerated investment decisions
LI projects: accelerated investment decisions Investment decisions drive revenue growth 2 years later Mid-term revenue growth M€ +8 to 10% 1,000 Current revenue growth +5 to 6% 200 2001 2002 2003 2004 2005 2006 2007 2008 2009 Investments decisions 9 Q1 2007 Consolidated Revenue - April 25, 2007
Slide 10: Outlook
Outlook Q1 2007 revenue up +5.2% on a comparable basis Operating Income Recurring growing at a higher rate Same trends expected in Q2 2007 In second half 2007: D Several Large Industries start-ups D Full consolidation at latest Q3 of new acquisitions We maintain our guidance for 2007 of “dou
Slide 11: Appendices
mn AIR LIQUIDE Appendices
Slide 12: Growth in all geographic zones
Growth in all geographic zones revenue in M€ Q1 06 Q2 06 Q3 06 Q4 06 Q1 07 Q1 07/06 Q1 07/06 as published comparable Asia-Pacific 417 433 434 432 431 +3.6% +11.9% Americas 680 632 640 616 628 -7.7% +3.2% Europe 1,305 1,267 1,249 1,350 1,351 +3.5% +4.1% Africa and Middle East 43 44 44 42 42 -2.9% +11
Slide 13: Growth in all business lines
Growth in all business lines revenue in M€ Q1 06 Q2 06 Q3 06 Q4 06 Q1 07 Q1 07/06 Q1 07/06 as published comparable Industrial Merchant 1,092 1,086 1,078 1,109 1,091 +0,0% +4.3% Large Industries 774 698 716 733 763 -1.5% +5.5% Electronics 211 226 215 211 214 +1.5% +8.8% Healthcare 368 366 358 387 384
Slide 14: Major start-ups in Large Industries, Electronics and Industrial Merchant
Major start-ups in Large Industries, Electronics and Industrial Merchant Main start-ups Q1 2006 2 Q2 2006 5 Q3 2006 4 Q4 2006 6 Q1 2007 2 Expected rest of the year 12, Of which 3 major: Shell Pernis (Netherlands) Severstal (Russia) Priolo (Italy) 14 Q1 2007 Consolidated Revenue - April 25, 2007
Slide 15: Continued devaluation of USD and Yen
Continued devaluation of USD and Yen Q1 2007 Negative impact of natural gas and currency No perimeter impact In €M Q4 06 Q1 07 Natural gas impact -75 -25 Currency impact -76 -101 Total -151 -126 Perimeter impact 0 0 15 Q1 2007 Consolidated Revenue - April 25, 2007
Slide 16: Currency impact
Currency impact In €M Q4 06 Q1 07 €/USD -37 -41 €/CND -5 -14 €/JP¥ -22 -27 Others -12 -19 Currency impact -76 -101 Average exchange rates for the period €/USD 1.29 1.31 €/CND 1.47 1.54 €/JP¥ 151.8 156.5 16 Q1 2007 Consolidated Revenue - April 25, 2007
Slide 17: Natural gas prices impact
Natural gas prices impact In €M Q4 06 Q1 07 Natural gas impact -75 -25 12 USA (USD/mmbtu) Europe (EURO/GJ) Canada (CAD/GJ) 10 8 6 4 2 0 avr avr avr avr avr avr avr avr jan jan jan jan jan jan jan jan jan juill juill juill juill juill juill juill juill oct oct oct oct oct oct oct oct 17 Q1 2007 Conso
Slide 18: Consolidated Revenues First Quarter 2007
Consolidated Revenues First Quarter 2007 John Glen: Group Finance Director April 25th, 2007