Air Liquide Half-Year Report 2023
Group revenue totaled 13,980 million euros in the 1st half of 2023, up +4.9% on a comparable basis. Group revenue
as published in the 1st half-year was down -1.6%, impacted by unfavorable energy (-4.7%) and currency (-2.1%) impacts, with the significant scope impact being slightly positive at +0.3%. Gas & Services revenue amounted to 13,405 million euros during the 1st half, a comparable increase of +5.3%. Published sales in the 1st half of 2023 were down slightly by -1.4%, impacted by negative energy and currency impacts of -4.9% and -2.1% respectively, the significant scope impact being limited (+0.3%).
Gas & Services revenue in the Americas reached 5,159 million euros in the 1st half of 2023, representing a comparable increase of +6.7%. Sales in the Industrial Merchant business were up sharply, by +10.0%, driven by a high price effect (+7.5%). Customer shutdowns penalized Large Industries sales (-3.9%) while volumes remained solid overall in the US Gulf Coast. In Healthcare, price increases in Proximity Care in the United States and the dynamism of Home Healthcare in Canada and South America were the main contributors to the very strong increase in sales (+13.5%). Lastly, after very solid growth in 2022, revenue from the Electronics business was down by -5.8% in the 1 st half due to the sharp decline in sales of materials in the 2nd quarter, in a context of slowdown in demand from memory manufacturers.
Revenue in Europe was up +4.8% on a comparable basis during the 1st half of 2023 and reached 4,975 million euros. In Industrial Merchant, the very strong increase in sales of +18.1% benefited from a price effect that remained very high at +19.0%. Healthcare sales were up +5.8%, driven notably by the strong development of diabetes treatment in Home Healthcare and higher medical gas prices in response to inflation. Large Industries revenue was down -3.6% in the 1 st half-year, however this was a significant improvement compared to the 2nd half of 2022 heavily impacted by the sharp increase in energy prices.