Air Liquide SA · EURONEXT:AI
Air Liquide SA — Q1 2004 Earnings Presentation
18 slides from Air Liquide SA's earnings presentation, Apr 28, 2004
Slide 1: Consolidated Sales 1st Quarter 2004
Consolidated Sales 1st Quarter 2004 April 28, 2004
Slide 2: Consolidated sales - Q1, 2004
Consolidated sales - Q1, 2004 ! Benoît Potier: Chairman of the Management Board ! Jean-Claude Buono: Executive Vice-President Member of the Management Board ! John Glen: Group Finance Director Agenda: ! Introduction (Benoît Potier) ! Key data, performance analysis (John Glen) ! Conclusion (Benoît Po
Slide 3: Introduction
Introduction Benoît Potier 3 Consolidated Sales 1st Quarter 2004 - April 28 2004
Slide 4: Sustained performance at the start of the year
Sustained performance at the start of the year ! Accelerating growth and benefiting from the upturn Group growth 2,186 M€ +9.2% 10% 8% +6.1% 6% +5.0% +4.7% +4.2% 4% 2% 0% Q1 Q2 Q3 Q4 Q1 2004 2003 (excl. forex, NG and JAG) 2004 (excl. forex & NG) 4 Consolidated Sales 1st Quarter 2004 - April 28 2004
Slide 5: Key data, Performance analysis
Key data Performance analysis John Glen 5 Consolidated Sales 1st Quarter 2004 - April 28 2004
Slide 6: Sustained performance at the start of the year
Sustained performance at the start of the year M€ Growth Q1 2004 excl. forex, NG Group Sales 2,186 +9.2% Engineering and Construction 80 +89.4% Other activities 211 +5.0% Gas & Services Sales 1,895 +7.8% Growth as reported +3.6% Currency effect <4.4%> Natural gas effect <1.2%> Growth excl. forex, NG
Slide 7: Further acceleration in business trends
Further acceleration in business trends ! All 4 business lines improve growth compared to Q4/03 Gas & Services growth 10% 1,895 M€ +7.8% 8% +5.8% +5.9% +6.1% 6% +3.9% 4% 2% 0% Q1 Q2 Q3 Q4 Q1 2004 2003 (excl. forex, NG & JAG) 2004 (excl. forex, NG) 7 Consolidated Sales 1st Quarter 2004 - April 28 200
Slide 8: Performing above industrial production
Performing above industrial production Growth Q1 04 / Q1 03 16% +14.0% 14% 12% 10% +8.3% +8.2% 8% 6% 4% +1.6% 2% 0% ia n ne es ica as .) ce ce fic pa As Fr at zo ic an an ci er Ja er Pa l. St g Am Fr Fr xc ro in Am - d Eu (e ia g te tin er As i e Un Em La rop Eu Industrial production growth Gas & Se
Slide 9: Asia: continued strong growth
Asia: continued strong growth ! 20% of G&S sales** Gas & Services sales !1/3 of growth In M€ 321 320 342 354 349 !Double digit growth Y/Y* +6.2% +9.9% +13.4% +15.4% +14.0% (Japan, Korea, China, South-East Asia) 14% ! Strong contribution 12% from Electronics 10% 8% !Very high ESG volumes 6% !Contract
Slide 10: Americas: acceleration in sales
Americas: acceleration in sales Gas & Services sales ! Recovery momentum In M€ 561 528 532 511 520 helped by exports Y/Y* +3.2% -0.5% +2.8% +5.3% +8.3% ! All business lines growing > +5% 6% ! Strong demand 4% for liquid gases 2% ! Prices remain firm -1% ! Strong air gases & Q1 03 Q2 03 Q3 03 Q4 03 Q
Slide 11: Europe: driven by innovation and development
Europe: driven by innovation and development Gas & Services sales In M€ 552 560 542 578 590 ! Strong base momentum Y/Y* +6.7% +3.8% +4.0% +7.2% +8.2% ! Ramp-up of hydrogen basins in North Europe Europe 8% excl. !Hydrogen volumes France 4% doubled over 18 months 0% Q1 03 Q2 03 Q3 03 Q4 03 Q1 04 ! Acc
Slide 12: Conclusion
Conclusion Benoît Potier 12 Consolidated Sales 1st Quarter 2004 - April 28 2004
Slide 13: Strategy: optimizing sources of growth
Strategy: optimizing sources of growth Sophisticated needs Technology, innovation, services: Accelerating growth Base business: Emerging geographies: Benefiting from recovery Capturing new Basic needs growth Developing countries Industrialized countries = 60% of sales + = 40% of sales 13 Consolidate
Slide 14: Strategy: optimizing sources of growth
Strategy: optimizing sources of growth M€ 2050 (sales G&S, excl. forex, NG) >10% +7.8% 2000 60% >15% of growth 1950 in Q1 +4.5% 1900 1850 Base Emerging Technology, geographies innovation, services 0 1800 Q1 2003 Q1 2004 14 Consolidated Sales 1st Quarter 2004 - April 28 2004
Slide 15: Appendices
Appendices 15 Consolidated Sales 1st Quarter 2004 - April 28 2004
Slide 16: Growth in all business lines
Growth in all business lines Q1 2004 04/03 Sales in M€ (as reported) (excl. forex, NG) Industrial Customers 838 +4.5% Large Industries 540 +11.6% Electronics 209 +11.3% Healthcare 308 +7.5% Total Gas & Services 1,895 +7.8% Related Activities 291 +19.7% Total Group 2,186 +9.2% 16 Consolidated Sales 1
Slide 17: Balanced geographic positions
Balanced geographic positions Q1 2004 04/03 Sales in M€ (as reported) (excl. forex, NG) Asia-Pacific 349 +14.0% Americas 520 +8.3% Europe (excl. France) 590 +8.2% France 401 +1.6% Africa 35 +5.2% Total Gas & Services 1,895 +7.8% Related Activities 291 +19.7% Total Group 2,186 +9.2% 17 Consolidated S
Slide 18: Currencies and natural gas
Currencies and natural gas Variation €/$ (average value in $) Currencies Q1 03 = 1.073 +16.5% Q1 04 = 1.251 FY 2003 = 1.131 2003/02 = +19.7% 12 Natural gas 10 U S A ( U S D / m m b tu ) E u rop e (E U R O /G J ) C a n a d a (C A D /G J ) 8 6 5 ,8 7 5 ,1 4 4 3 ,5 1 2 0 10 11 10 11 12 10 11 10 11 12 1