Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on AIR LIQUIDE SA. We currently have 10 research reports from 1 professional analysts.
Frequency of research reports
Research reports on
AIR LIQUIDE SA
AIR LIQUIDE SA
FY16 roughly in line; moderate optimism going forward
15 Feb 17
Air Liquide released its FY16 results. Revenues reached €18,135m (+14.6% and +0.9% comparable), recurring operating income €3,024m (+5.9%) and net income €1,844m (+5%). Net debt at the end of FY16 amounted to €15,368m (vs €7,239m). The dividend proposed will be €2.60 and shareholders will be granted 1 free share for 10 existing. Remember Airgas is consolidated since 23 May 2016.
Q3 16 in line; rather positive comments on the Airgas acquisition
25 Oct 16
Air Liquide released its Q3 trading statement. Sales reached €5,077m (+26.8% and -1.1% comparable). Year-to-date, revenues are up +9.5% (Airgas is consolidated as from 23 May 2016) and up +0.8% on a comparable basis at constant energy prices and currency.
H1 16 not very convincing; waiting for the share issue now
01 Aug 16
Air Liquide released H1 16 numbers showing a 2.2% increase in revenues to €8,116m, a 1.9% decrease in recurring operating income to €1,409m and a 4.6% decrease in net profit to €849m. These numbers include Airgas as of 23 May. Note the top-line on a comparable basis is up +1.7% (+2.4% in Q1) and operating income down 4.2% (vs -1.9% released). Net debt at 30 June reached €19.86bn (vs €7.24bn at year-end 15) and takes into account the Airgas acquisition.
Presentation of the "Neos" plan for 2016-2020
06 Jul 16
Air Liquide held its capital markets day in London on 6 June, unveiling its “Neos” plan to 2020. As far as key elements are concerned, the group is aiming at a revenue growth rate over the 2016-20 period of +6% to +8%, while it intends to generate substantial efficiency gains of at least €300m on average per year, in addition to synergies related to Airgas for a total amount above US$300m. The group also targets to reach a ROCE “in excess” of 10% within 5-6 years and to maintain its S&P “A” range rating.
Q116 trading statement: nothing special
26 Apr 16
Air Liquide Q1 16 trading statement. Q1 16 revenues reached €3,872m (-3.1% and +2.4% on a comparable basis). Forex (-1.9%) and Energy (-3.6%) weighed on the top line, explaining the huge gap between the nominal numbers and the figures on a comparable basis.
FY15 unsurprising; Airgas acquisition in the spotlight for FY16
16 Feb 16
Air Liquide released FY15 results. Sales reached €16,380m (+6.7% and +3.3% excluding currency, energy and changes in scope), recurring operating income reached €2,890m (+9.8% and +3.9%) and net profit €1,756m (+5.6% and +0.2%). Net debt at the end of 2015 amounted to €7,238m vs €6,306m a year before. A dividend of €2.60 will be proposed (vs €2.55 in FY14). As usual, the guidance is very vague, Air Liquide expecting for FY16 "another year of profitable growth, assuming a comparable environment", although this does not take into account the Airgas acquisition and its financing.
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
accesso Technology (ACSO LN) Full year results in line, but key trading months still ahead | Augean (AUG LN) Double digit growth in ’16, good start to ‘17 | Earthport (EPO LN) Interims show continued top line strength | Goals Soccer Centres (GOAL LN) Good momentum under new team. It’s now all about delivery | IQE (IQE LN) FY’16 results prompt further upgrades | Microsaic Systems (MSYS LN) Challenges in 2016, strategy remains in place | mporium Group (MPM LN) Funds raised to help execute strategy | RhythmOne (RTHM LN) Dawn of the independents | ScS Group (SCS LN) Strong progress on key growth initiatives albeit comps now toughen | Sinclair Pharma (SPH LN) FY results: EBITDA ahead, Instalift™ gaining pace | Vectura Group (VEC LN) FY (9-month) results
N+1 Singer - Augean - Double digit growth in ’16, good start to ‘17
21 Mar 17
Augean reported another year of double digit growth for 2016, with profits in line with our forecasts. Sales grew by 21% excluding landfill tax, while adjusted PBT grew by 18% to £7.1m before amortisation of acquired intangibles. DPS was increased by 54% to 1.0p, 25% ahead of our estimate. The business units made further strategic progress, with revenues from their top 20 customers increasing from 42% to 43% of the total, of which 88% was under contract or a framework agreement, increasing forward visibility. There has been an encouraging start to 2017 and management is confident of delivering another year of profits growth. The shares trade on undemanding single digit multiples, offering good value.