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Healthcare and electronics carry Air Liquide through Q1 tariffs turbulence

Gas
April 24, 2025

Industrial gas major Air Liquide recorded a 1.7% revenue rise to €7bn ($7.97bn) in the first quarter of 2025, driven primarily by strong performances in healthcare (up 5%) and electronics (4%).

CEO Francois Jackow said the industrial major, which is active in 60 countries, is “staying the course through turbulent times” and it will continue to invest “whenever and wherever we see opportunities”.

Americas and Asia recorded 3% growth and EMEA was flat (0%), with Gas and Services division sales rising 1.8% and Engineering & Technologies sales falling 2.9%. The US was buoyed by the contract flow from ExxonMobil Baytown project, which increased from $130m in Q2 2024 to $275m in Q1 2025. The expected final investment on the project is $850m.

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