Premium Domain Names for Sale at CrocoDom.com
Group
Group
Sustainable development
Sustainable development
Individual Shareholders
Investors & Analysts
Join us
Join us
Join us for a stimulating experience: you’ll find a world of learning and development opportunities where inventiveness is at the heart of what we do, in an open, collaborative and respectful environment.
You are
Commenting on 2023 results, François Jackow, Chief Executive Officer of the Air Liquide Group, stated:
“In 2023, Air Liquide achieved a solid performance, highlighting the resilience and quality of our business model as well as the mobilization and agility of our teams in a complex and changing macroeconomic and geopolitical environment. The Group’s performance was characterized by an increase in sales on a comparable basis, a further improvement in its operating margin excluding the energy impact and an accelerating investment momentum, particularly in decarbonization projects.
In particular, I am proud to highlight that we have practically reached, in two years, the margin ambition targeted for 2025 as part of our ADVANCE strategic plan. As a consequence, we announce today that we are doubling our initial ambition.
We also confirm our other ADVANCE financial objectives, sales growth on a comparable basis and Return on Capital Employed, as well as our investment decision ambition. In addition, on the extra-financial level, our many decarbonization initiatives give us confidence in our objective to combine growth in our business with a reduction in our CO2 emissions in absolute value from 2025.
Revenue reached 27.61 billion euros, an increase of +3.7% on a comparable basis in 2023. On a published basis, it stood at -7.8%, due to the drop in energy prices – for which variations are contractually passed through to Large Industries customers – as well as negative currency impacts. The Gas & Services business, which represented 95% of the Group’s revenue, was up +4.2% on a comparable basis. Within this activity, all regions saw growth, in particular the Americas and Europe, driven notably by Industrial Merchant and Healthcare.
In line with its ADVANCE strategic plan, Air Liquide continued to improve its operational performance. The Group generated record efficiencies of 466 million euros, up +23% despite an inflationary context unfavorable to savings on procurement, and continued the dynamic management of its business portfolio. Its ability to provide its customers with value-added offerings allows it to adjust its prices in Industrial Merchant. As a result, the operating margin increased further, by +80 basis points in 2023 excluding the energy impact, and therefore by +150 basis points over 2022-2023. Having practically reached our margin target halfway through ADVANCE which was at +160 basis points, we now aim for a +320 basis points increase, twice our initial ambition, over the duration of the plan.
Net profit (Group share) amounted to 3.08 billion euros, up +11.6% as published. Net profit recurring() increased by +13.3% excluding the currency impact. Cash flow() grew by +12.8% excluding the currency impact. The balance sheet is strong with a net debt to equity ratio of 36.8%. At 10.6% at end-December, recurring ROCE() remained well above 10%, in line with the objectives of ADVANCE, despite the increase in our investments. Reflecting our confidence in the future, the dividend that will be submitted to the shareholders’ vote in April amounts to 3.20 euros per share, i.e. an increase of +8.5%. In addition, a free share attribution is scheduled for June 2024, on the basis of one share for every 10 shares held.
The investment dynamic of the Group is accelerating, supported in particular by our projects in the energy transition and electronics. The backlog is historically high at 4.4 billion euros. Investment decisions reached a record level of 4.3 billion euros in 2023.
In 2024, Air Liquide is confident in its ability to further increase its operating margin and to deliver growth in Net profit recurring, at constant exchange rates().”
Financial performance
Group revenue for 2023 totaled 27,608 million euros, posting comparable growth of +3.7% over 2022. The Group’s revenue as published was down -7.8%, impacted by unfavorable energy (-7.6%) and currency (-4.2%) impacts, the significant perimeter impact being slightly positive at +0.3%.
Gas & Services revenue totaled 26,360 million euros in 2023, an increase on a comparable basis of +4.2%. Revenue as published in the Gas & Services business was down -7.7%, penalized by negative energy (-8.0%) and currency (-4.2%) impacts, while the significant scope effect was slightly positive at +0.3%.
The two growth() drivers for 2023 were the Industrial Merchant business, with sales up +8.5%, benefiting from a price impact that remained high (+8.4%) and resilient volumes, and the Healthcare business (+8.4%), bolstered by the dynamic development of Home Healthcare and the increase in the prices of medical gases in an inflationary environment. Revenue from Large Industries was down -1.8% over the year, demand stabilized at a relatively low level. Sales in Electronics increased by +2.4% in 2023, following growth of +16% in 2022, the sharp drop in demand from memory manufacturers having impacted sales from the 2nd quarter.
Global Markets & Technologies revenue for 2023 was down by -1.0% compared to 2022, at 858 million euros. Organic growth reached +9.7%, excluding the divestitures carried out at the end of 2022. Order intake for Group projects and third-party customers amounted to 926 million euros, up +5.8% compared to 2022.
Consolidated revenue from Engineering & Construction totaled 390 million euros in 2023, down by -15.6%. Consolidated revenue excludes activities carried out as part of internal projects for Large Industries and Electronics, which are growing. Order intake amounted to 1,511 million euros for Group projects and third-party customers and hence exceeded 1 billion euros for the third consecutive year.
The Group’s operating income recurring (OIR) reached 5,068 million euros in 2023, an increase of +4.2% as published. It increased by +11.4% on a comparable basis, which is significantly higher than the comparable sales growth of +3.7%, highlighting a strong leverage effect. This performance reflects the progress of the action plan deployed around 3 levers: efficiencies, pricing management in particular in Industrial Merchant and a dynamic asset portfolio management. Hence, the efficiencies() amounted to 466 million euros in 2023, a sharp increase of +23.2% compared with 2022 and significantly above the annual target of 400 million euros.
Excluding the energy impact, the operating margin improved very significantly by +80 basis points. Thus, the sum of improvements in the operating margin excluding energy impact in 2022 and 2023 reached +150 basis points and compares to the +160 basis points expected over the 4-year period of the ADVANCE plan. Consequently, the ambition for improvement in the margin excluding the energy impact of the ADVANCE strategic plan is raised to +320 basis points over 4 years, which reflects an acceleration. This corresponds to twice the improvement initially planned. Hence, +170 basis points of improvement are expected for the remaining 2 years of the ADVANCE plan.
Net profit (Group share) reached 3,078 million euros in 2023, showing strong growth of +11.6% as published and an increase of +21.0% excluding the currency impact. It exceeded 3 billion euros for the first time. Net profit recurring (Group share)() amounted to 3,320 million euros, up by +5.0%, and +13.3% excluding currency impact.
Net earnings per share, stood at 5.90 euros and were up +11.7% as published compared with 2022, in line with the increase in net profit (Group share).
Net cash flow from operating activities after changes in working capital requirement amounted to 6,263 million euros, a strong increase of +7.8% compared with 2022 and +12.8% excluding the currency impact.
Net debt at December 31, 2023, amounted to 9,221 million euros, a decrease of 1,040 million euros compared with December 31, 2022. Indeed, cash flows from operating activities allowed to reduce the net debt after the payment of over 3.4 billion euros in industrial investments and 1.6 billion euros in dividends.
The return on capital employed after tax (ROCE) was 9.8% in 2023. The recurring ROCE(7) stood at 10.6 %, an improvement compared to 10.3% in 2022 and aligned with the ADVANCE strategic plan’s double-digit objective.
Industrial and financial investment decisions reached a high level of 4.3 billion euros in 2023, up sharply from 4.0 billion euros in 2022. The investment backlog hit a record high of 4.4 billion euros in 2023, a sharp increase from 3.5 billion euros in 2022.
At the General Meeting on April 30, 2024, the payment of a dividend of 3.20 euros per share will be proposed to shareholders for the 2023 fiscal year, representing an increase of +8.5% compared with the previous year. The ex-dividend date has been set for May 20, 2024, and the payment is scheduled for May 22, 2024. Moreover, a free share attribution, on the basis of one free share for every 10 shares held, as well as the application of a loyalty bonus, are planned for June 2024.
Extra-financial performance
The Group’s scopes 1 and 2 CO2 emissions in 2023 totaled 37.6 million tonnes of CO2 equivalent(). They were down -4.7% compared with 2022 and -4.9% compared with the 2020 baseline.
The Group announced in 2023 the signature of long-term power purchase agreements (PPAs), for more than 1.5 TWh per year aiming to reduce its annual emissions of CO2 by around -1.2 million tonnes. Moreover the Group pursues carbon capture and energy efficiency project development.
With these achievements, Air Liquide is confident to accomplish its ADVANCE near term goal of CO2 emissions inflection in 2025.
On the social aspect, safety is a priority. The lost-time accident frequency rate() stood at 1.0 in 2023. The share of employees benefitting from a common basis of care coverage reached 78%, showing a sharp increase compared to 34% in 2021, in line with the objective of 100% by 2025.
Finally, the Access Oxygen program pursues its development. Over 2 million people have been facilitated with access to medical oxygen in low and moderate income countries, a +16% increase compared to 2022.
Governance
On the recommendation of the Appointments and Governance Committee, the Board of Directors also approved the draft resolutions which will be submitted to the General Meeting of April 30, 2024 in order to renew for a period of four years, the term of office of two Directors:
The Board of Directors has qualified Ms. Kim Ann Mink and Ms. Monica de Virgiliis as independent Directors.
During its plenary meeting of November 9, 2023, the European Works Council renewed the term of office as Director representing the employees of Ms Fatima Tighlaline, (which expires at the end of the General Meeting of April, 30, 2024) for a period of four years expiring at the end of the 2028 General Meeting, which will approve the financial statements for the 2027 fiscal year.
At the end of the General Meeting, subject to approval by the Meeting of all the resolutions proposed, the Board of Directors composition would therefore remain unchanged at 14 members: 12 members appointed by the General Meeting, most of whom are independent (i.e. 83% independent Directors), including 5 women (i.e. 42%), 5 foreign nationals (i.e. 42%) and 2 Directors representing the employees.
Finally, the Board of Directors will submit to the vote of the General Meeting the elements of remuneration of Mr François Jackow, Chief Executive Officer, and of Mr Benoît Potier, Chairman of the Board of Directors, together with the information relating to the remuneration of all the corporate officers for 2023. The General Meeting will also be invited to decide upon the remuneration policy for the corporate officers which will apply to Mr. François Jackow, Chief Executive Officer, to Mr Benoît Potier, Chairman of the Board of Directors and to the Directors.
Air Liquide’s Board of Directors, which met on February 19, 2024, approved the audited financial statements for the 2023 fiscal year. The Statutory Auditors are in the process of issuing a report with an unqualified opinion.
Director of External Communications
A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 72 countries with approximately 67,800 employees and serves more than 4 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.
© Air Liquide 2024
source
Premium Domain Names:
A premium domain name is a highly sought-after domain that is typically short, memorable, and contains popular keywords or phrases. These domain names are considered valuable due to their potential to attract more organic traffic and enhance branding efforts. Premium domain names are concise and usually consist of one to two words or two to four individual characters.
Top-Level Domain Names for Sale on Crocodom.com:
If you are looking for top-level domain names for sale, you can visit Crocodom.com. Crocodom.com is a platform that offers a selection of domain names at various price ranges. It is important to note that the availability of specific domain names may vary, and it’s recommended to check the website for the most up-to-date information.
Contact at crocodomcom@gmail.com:
If you have any inquiries or need assistance regarding the domain names available on Crocodom.com, you can reach out to them via email at crocodomcom@gmail.com. Feel free to contact them for any questions related to the domain names or the purchasing process.
Availability on Sedo.com, Dan.com, and Afternic.com:
Apart from Crocodom.com, you can also explore other platforms like Sedo.com, Dan.com, and Afternic.com for available domain names. These platforms are popular marketplaces for buying and selling domain names. Each platform may have its own inventory of domain names, so it’s worth checking multiple sources to find the perfect domain name for your needs.
#PremiumDomains #DomainInvesting #DigitalAssets #DomainMarketplace #DomainFlipping #BrandableDomains #DomainBrokers #DomainAcquisition #DomainPortfolio #DomainIndustry #DomainAuctions #DomainInvestors #DomainSales #DomainExperts #DomainValue #DomainBuyers #DomainNamesForSale #DomainBrand #DomainInvestment #DomainTrading
+ There are no comments
Add yours