{"id":876,"date":"2016-08-01T15:58:37","date_gmt":"2016-08-01T15:58:37","guid":{"rendered":"http:\/\/jschaeffer.us\/sandbox\/scottmedicalproducts\/?p=876"},"modified":"2016-08-01T15:58:37","modified_gmt":"2016-08-01T15:58:37","slug":"first-half-2016-robust-gas-services-sales-growth-acquisition-airgas-accretive-2016","status":"publish","type":"post","link":"http:\/\/jschaeffer.us\/sandbox\/scottmedicalproducts\/first-half-2016-robust-gas-services-sales-growth-acquisition-airgas-accretive-2016\/","title":{"rendered":"First half 2016: Robust Gas & Services sales growth Acquisition of Airgas accretive as of 2016"},"content":{"rendered":"

\"air-liquide-h1-2016-results\"<\/a><\/p>\n

* Variation H1 2016\/H1 2015 excluding currency and energy impact<\/p>\n

Commenting on the first six months of 2016, Beno\u00eet Potier, Chairman and CEO of Air\u00a0Liquide<\/strong>, said:<\/p>\n

\u201cThis first half has been characterized by the completion of the Airgas acquisition, which will be accretive in 2016, and its first contribution to the Group’s performance. In a context of moderate global growth, Gas & Services sales posted robust growth. Growth is the result of dynamic Electronics sales, higher volumes in Large Industries, and rising Healthcare business. This first half is also characterized by a negative currency impact and lower energy prices.
\nAll geographies are progressing on a comparable basis, benefiting notably from the slight improvement in demand in industry since the beginning of the year. This increase was more pronounced in Asia Pacific and the developing economies.
\nThe Group continues to generate recurring efficiency gains, to which will be added the first benefits of synergies with Airgas in the second half of the year. The operational performance of Gas & Services is solid, as evidenced by the margin increase and strong cash flow growth.
\nThe investment backlog, amounting to 2.1\u00a0billion euros, and recently signed new contracts, will contribute to growth in the coming years.
\nFollowing the completion of the acquisition of Airgas, Air\u00a0Liquide is confident in its ability to generate growth in 2016, both in net profit and in net earnings per share, including the effect of the capital increase planned for September\/October.<\/em>\u201d<\/strong><\/p>\n

Group revenue for the first half of 2016<\/strong> was \u20ac\u00a08,295\u00a0million<\/strong>, including \u20ac\u00a0511\u00a0million<\/strong> of Airgas sales consolidated as of 23 May 2016 (closing date of the acquisition). Revenue for the first half increased +2.2% on a reported basis and +8.0%<\/strong>, excluding the currency and energy impact, as compared with the first half of 2015. Excluding Airgas, comparable growth1<\/sup> was +1.7%.
\nGas & Services<\/strong> sales, at \u20ac\u00a07,618\u00a0million<\/strong> including Airgas sales since 23 May 2016, grew by +4.3% on a reported basis and by +10.6%<\/strong>, excluding the currency and energy impact, compared with the first half of 2015. Excluding Airgas, comparable growth is +3.6%<\/strong>. For the first half, the currency<\/strong> impact (-2.6%) and theenergy<\/strong> impact (-3.7%) are both unfavorable.
\nThe developing economies<\/strong> continued to post strong growth, with Gas & Services sales up +11.4%<\/strong> on a comparable basis.
\nOverall, all Gas & Services<\/strong> activities progressed in the first half on a comparable basis, with the exception of Industrial Merchant, which remained contrasted:<\/p>\n