Air Liquide: Outstanding Performance From the Group in 2020 That Demonstrates the Strength of Its Business Model
Commenting on the results for 2020, Benoît Potier, Air Liquide Chairman and CEO, stated:
"The Group was fully mobilized to serve its customers and patients in 2020, which was an out of the ordinary year, whilst being resolutely committed to the fight against covid-19.
I want to recognize the exceptional work accomplished by all the Air Liquide's teams.
The Group's performance was outstanding in this environment: sales resilience, significant margin improvement, net profit growth and investment decisions continued at a very high level. This performance illustrates the solidity of our business model. It also perfectly positions the Group for future growth and enables it to already benefit from the acceleration seen in healthcare, energy transition, and the increasing presence of technologies, in particular digital, in all sectors.
Over the full year, 2020 sales were practically stable on a comparable basis, with business back to growth in the fourth quarter. The Gas & Services sales, which account for 96% of Group revenue, held up well, as did Global Markets & Technologies which retained their momentum. On a comparable basis, business was supported by strong sales growth in Healthcare and Electronics. Geographically, the situation was extremely varied with Europe faring well, driven by demand in Healthcare, and a solid performance from the developing economies, particularly China, and Eastern European and Latin American countries.
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