Air Liquide confirms annual outlook as H1 operating margin meets estimate
Adds outlook in paragraph 2, segment sales in paragraph 4, CEO comment in paragraph 5 and details
By Olivier Cherfan and Gianluca Lo Nostro
July 26 (Reuters) -French industrial gas supplier Air Liquide AIRP.PA reported on Friday first-half group operating margin in line with market expectations, mostly supported by more efficient and cheaper processes adopted to help lift efficiency.
The company also maintained its outlook of higher operating margin and to deliver recurring net profit growth, at constant exchange rates in 2024.
Air Liquide, which supplies gases such as oxygen, nitrogen and hydrogen to factories and hospitals, said its operating margin - excluding the energy impact - rose 100 basis points to 19.4% in the January-June period. Analysts, on average, polled by Vara Research were expecting an operating margin of 19.3%.
Revenue at the Gas & Services segment, accounting for more than 96% of Air Liquide's business, increased by 2.6% on a comparable basis to 12.80 billion euros ($13.89 billion) in the reported period, aided notably by the dynamism of the Healthcare business and the U.S. market.
The company is developing major projects, Chief Executive Officer François Jackow said in a statement, adding that it "has never had so many opportunities related to the energy transition and the growth of digital and artificial intelligence."
($1 = 0.9212 euros)
Reporting by Olivier Cherfan and Gianluca Lo Nostro; Editing by Sonia Cheema and Sherry Jacob-Phillips
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