Air Liquide Q3 Report 2022
Group revenue for the 3rd quarter of 2022 totaled 8,247 million euros, a strong growth of +8.3% on a comparable
basis with the 3rd quarter of 2021. The Group’s revenue as published posted a significant increase of +41.3% in the
3rd quarter, with a record high energy impact of +24.4% as well as a favorable currency impact of +8.8%, while the
significant scope impact was limited at -0.2%.
This performance was delivered in a challenging context of exceptionally high energy prices, strong inflation, strain on supply chains and the war in Ukraine. The Group benefited from a solid business model and diversity of business reach in terms of geographies, businesses, end-markets and customers which ensured a resilient performance and allowed the Group to take advantage of all growth opportunities. Its core positioning in growth markets of the future (in particular the energy transition, Semiconductors and Healthcare) reinforces these attributes.
Revenue in Europe was stable (-0.2%) at 3,266 million euros in the 3rd quarter. Activity was contrasted from one business line to another. Large Industries was impacted by a slowing demand from Steel and Chemical customers but volumes showed a limited decrease in a context of soaring energy prices. The difference between comparable sales growth (-27.5%) and volume evolution (-6%) is due to a calculation effect of the energy impact.
Indeed, for Large Industries, the method values the energy impact of the year on the basis of the volumes of the
preceding year times the difference of energy prices. Consequently, in the 3rd quarter, the rise in energy prices being exceptionally strong and volumes slightly down, the energy impact is amplified, as well as a combined effect, which reduced comparable sales of Large Industries. In Industrial Merchant, sales rose by more than +30%, with the pricing impact reaching a new record high of +29.9% and volumes remaining resilient. The Healthcare business saw strong growth of +5.8%, driven by dynamic Home Healthcare and despite a high basis of comparison due to the covid-19 pandemic in 2021.
