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52 min ago 2 min read
Industrial gas major Air Liquide has reported first-quarter 2026 revenues of €6.79bn ($7.9bn). However, published revenue declined 3.5%, down from €7.03bn ($8.2bn) in the prior-year period.
Revenue came in slightly below Vara Research consensus estimates of €6.83bn ($7.9bn), with the difference largely attributed to foreign exchange effects.
Its gas and services line was the primary driver of performance, with revenue up 1.9% on a comparable basis, supported by demand across industrial and healthcare markets.
Across other business lines, industrial merchant sales grew by 2.7%, supported by a 3.4% price effect, while electronics increased by 2.9% and healthcare grew by 4.0%.
François Jackow, CEO of Air Liquide, said, “Our resilient and agile business model is the key to our continued growth. It is now more relevant than ever to address the growing challenges, whether industrial or energy, to sovereignty.”
Geographically, the Americas were the most dynamic region, with revenue up 5.5%, supported by strong demand in large Industries and healthcare.
In the US, Air Liquide signed a long-term agreement to supply oxygen, nitrogen and argon to a low-carbon steel plant in , equating to a planned investment of more than $350m.
Europe, Middle East and Africa remained broadly stable, with revenue down 0.4%, reflecting weaker industrial demand. During the quarter, the group also signed an agreement to develop on-site carbon capture for a cement plant in .
Asia-Pacific was slightly down on a comparable basis, although electronics continued to perform strongly, supported by semiconductor-related investments, including a €200m ($234m) project in and new advanced materials capacity in .
The group generated €142m ($166m) in efficiency gains during the quarter, up 8% year-on-year.
Investment decisions reached €1.5bn ($1.7bn) during the period, while the backlog of signed projects rose to a record €5.5bn ($6.4bn).
During the quarter, Air Liquide also completed the of DIG Airgas in South Korea, which is a huge play for Air Liquide in Asia.
