2013 Q1 Activity Growth investment decisions continue Cliquez pour - - PowerPoint PPT Presentation
2013 Q1 Activity Growth investment decisions continue Cliquez pour modifier le style des Good resilience sous-titres du masque Jean-Pierre Duprieu Executive Vice-President Paris, April 24, 2013 Paris, April 24, 2013 Fabienne
Paris, April 24, 2013
Jean-Pierre Duprieu Executive Vice-President
Paris, April 24, 2013
Fabienne Lecorvaisier Chief Financial Officer
Paris, April 24, 2013
Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
2
Fabienne Lecorvaisier Chief Financial Officer
Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
3
Sales in €m Q1 2012 Q1 2013
Q1 13/12
as published
Gas & Services 3,443 3,406
Engineering & Technology 178 147
Q1 13/12
Underlying activity
+4.9%
Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
Engineering & Technology 178 147
Other Activities 158 145
Group Total 3,779 3,698
4
and natural gas
+0.2%
2 3 4 5 6
Underlying trend
Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
1 2
Q1 2013 as reported Forex Natural gas 2012 Customer Settlements Working days Q1 2013 Activity
Underlying trend +4.9%
5
+9.7% +11.4% +11.3% +11.0% +10.7% +8.3% +7.7% 8% 10% 12%
2010 2011 2012 2013
Air Liquide, world leader in gases for industry, health and the environment (1) excluding the impacts of currency, natural gas and significant scope. 2010 and 2011 growth rates are not revised for the integration of Seppic into the G&S activity. (2) for Q1 2013, also adjusted for the impact of 2012 customer settlements.
+1.5% +4.6% +1.6% +0.9% +4.0% +1.9% 0% 2% 4% 6%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
6
(2)
April 24, 2013 Q1 2013 Revenue
+1% (2)
+21% +5%
Air Liquide, world leader in gases for industry, health and the environment (1) excluding the impact of currency, natural gas and significant scope. (2) also adjusted for the impact of 2012 customer settlements. April 24, 2013 Q1 2013 Revenue
7
+17% +13%
Developing economies Advanced economies
+13%
Air Liquide, world leader in gases for industry, health and the environment (1) growth excluding currency impacts.
Healthcare presence
8
+8% +5% +19%
April 24, 2013 Q1 2013 Revenue
Developing economies Americas(2)
€1,769m
Europe Total G&S
€3,406m
+4.6% +2.3%
+1.5% +3.2% +0.2%
Home Healthcare Tariff pressure on Hospitals Industrial Merchant in Southern Europe Customer maintenance HyCO loading
Air Liquide, world leader in gases for industry, health and the environment
9
April 24, 2013 Q1 2013 Revenue
ME & Africa Asia Pacific(2) Americas(2)
€766m €780m €91m
+16.8%
+11.2%
+1.0%
+6.2% +7.6%
+3.2% Q1 2013 Q4 2012
Seasonal fracking activity Customer maintenance Merchant pricing HyCO loading Bolt-on acquisitions Industrial Merchant in Japan China Electronics E&I Volume growth
(1) Excluding the impact of currency, natural gas and significant scope. (2) Q1 2013 also excluding the impact of 2012 customer settlements.
+7% +3% +4% +8% +3%
Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
+4% +2% +1% +2% +1%
Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
36% 37%
Large Industries Industrial Merchant
(2)
Air Liquide, world leader in gases for industry, health and the environment
+6% +2% +5% +14% +12%
Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
+2%
Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
Electronics Healthcare
(1) excluding the impact of currency, natural gas and significant scope. (2) Q1 2013 also excluding the impact of 2012 customer settlements.
19%
Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
8%
10 LVL + Gasmedi
April 24, 2013 Q1 2013 Revenue
252 188
200 300
785
750 1000
In €m
718
In €m
1,942
Air Liquide, world leader in gases for industry, health and the environment (1) including advanced Business and Technologies order intake. April 24, 2013 Q1 2013 Revenue
147
167 188 178
100 200 Q1 Q2 Q3 Q4 Q1
2012 2013
250 500 Q1 Q2 Q3 Q4 Q1
11
448
2012 2013
417 251 556
2.8 3.2 3.4 3.4
1 2 3 4 In €bn
66 60 59
59
20 40 60 80 In €m
2013 Objective > 250 M€
Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1
Air Liquide, world leader in gases for industry, health and the environment
2010 2011 2012 2013
2010 2011 2012 2013
200 400 600 2010 2011 2012 2013 In €m
457 353 424 464
200 300 400 500 2010 2011 2012 2013 In €m
Q1 Q1 Q1 Q1
(1) industrial and financial investments, including transactions with minorities, net of divestitures (2) after change in working capital requirement
12
April 24, 2013 Q1 2013 Revenue
381 444 508 531
Q1 Q1 Q1 Q1
Jean-Pierre Duprieu Executive Vice-President
Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
13
Signature Commissioning and revenue Construction Industrial Investment decisions Industrial capex
100 100 100
In €M
Start-ups and ramp-ups (for a capital intensity of 2) Opportunities under discussion 12-month portfolio
Revenue amount
Air Liquide, world leader in gases for industry, health and the environment Q1 2013 Revenue
14
April 24, 2013
30 50 20 30 40 45 50
2008 2009 2010 2010 2011 2012 2013 2014 2015 …
2010 4 years 2010 2008 2009 2011 2012 2013 2014 2015 …
400 500 600 700 800 1000 1200
In €m
4 years
Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
15
100 200 300 200 400 600 2006 2007 2008 2009 2010 2011 2012 2013 e 2014 e 2015 e
Incremental sales from industrial projects Industrial investment decisions
350 494 527 403 380 508 444
Investment decisions(1) 12-month portfolio
Start-ups(2) Net capex(1)
1.3 1.4 1.4 1.5
4.1 4.2
4.0
24 15 16
17 50 e
In €bn In €m In €m
4.0
710
531
Air Liquide, world leader in gases for industry, health and the environment 350 168 Q1 09 Q1 10 Q1 11 Q1 12 Q1 13 403 380 Q1 09 Q1 10 Q1 11 Q1 12 Q1 13
Developing Economies Advanced Economies Acquisitions
2009 2010 2011 2012 2013 2014 2.7 2.7 2.7 2.5 Dec- 11 Jun- 12 Dec- 12 Mar- 13
16
April 24, 2013 Q1 2013 Revenue
35 % 68% 66 % 42%
6
(1) industrial and financial investments, including transactions with minorities, net of divestitures (2) Industrial investments > € 10m
Contract renewal Carrier gases Chemical contract Further H2 filling stations CO2 development Home Healthcare acquisition
Air Liquide, world leader in gases for industry, health and the environment
17
April 24, 2013 Q1 2013 Revenue
Further
CO2 development
Large industries Electronics Industrial Merchant Healthcare
Further
Carrier gases CO2 development
Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
18
Air Liquide, world leader in gases for industry, health and the environment
19
April 24, 2013 Q1 2013 Revenue
Air Liquide, world leader in gases for industry, health and the environment
20
April 24, 2013 Q1 2013 Revenue
(1) AA rating since February 2012.
Customers/patients satisfaction surveys Accident frequency rate Micro initiatives for Communities
in 2011
in 2012
in 2002
in 2012
More than
Air Liquide, world leader in gases for industry, health and the environment
Micro initiatives for Communities HyCO unit energy consumption Local codes of conduct deployment
since 2008
in 2007
in 2012
in 2008
in 2012 21
April 24, 2013 Q1 2013 Revenue
Refer to the 2012 Reference Document for full information
Air Liquide, world leader in gases for industry, health and the environment
22
April 24, 2013 Q1 2013 Revenue
Air Liquide, world leader in gases for industry, health and the environment
April 24, 2013 Q1 2013 Revenue
23
Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
24
2 3 4 5 6
+1.5%
+1.5 %
Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
1 2 Q1 2013 as reported Forex Natural gas 2012 Customer settlements LVL + Gasmedi Q1 2013 Comparable
+0.6%
25
+1.9%
Adjusted (1) growth +1.5%
+1.5 %
(1) excluding the impact of currency, natural gas, significant scope and 2012 customer settlements.
110 115 120
base 100, average 2008
2010 2012 2011 2013
Air Liquide, world leader in gases for industry, health and the environment (1) revenue (excluding currency and natural gas), adjusted for the number of days per month. April 24, 2013 Q1 2013 Revenue
90 95 100 105 110
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
26
In €m Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
€/USD €/CAD €/JP¥ Others +18 +4 +21 +27 +54 +11 +37 +48 +56 +16 +30 +57 +20 +11 (3) +33 (3) (2) (40) (20) Total currency impact +70 +150 +160 +61 (65)
Air Liquide, world leader in gases for industry, health and the environment
April 24, 2013 Q1 2013 Revenue
Natural Gas Impact +22 (9) +4 (21)
In €m
Total currency impact +70 +150 +160 +61 (65)
Average rate Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
€/USD €/CAD €/JP¥ 1.31 1.31 104.0 1.28 1.29 102.6 1.25 1.24 98.4 1.30 1.29 105.3 1.32 1.33 121.9
27
Sales in €m Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
Q1 13/12
as published
Q1 13/12
comparable(1)
Europe 1,747 1,724 1,728 1,827 1,769 +1.2% +0.2% Americas 772 746 793 797 766
+3.2% Asia-Pacific 840 835 873 868 780
+1.0% Middle-East 91
(2) (2)
Air Liquide, world leader in gases for industry, health and the environment
April 24, 2013 Q1 2013 Revenue
Middle-East & Africa 84 89 96 93 91 +8.9% +16.8% Gas & Services 3,443 3,394 3,490 3,585 3,406
+1.5% Engineering & Technology 178 188 167 252 147
Other Activities 158 172 146 153 145
Group Total 3,779 3,754 3,803 3,990 3,698
+0.2% 28
(1) excluding the impact of currency, natural gas and significant scope. (2) Q1 2013 also excluding the impact of 2012 customer settlements.
Sales in €m Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
Q1 13/12
as published
Q1 13/12
comparable(1)
Industrial Merchant 1,281 1,283 1,322 1,307 1,254
+0.5% Large Industries 1,262 1,204 1,253 1,296 1,225
+3.4% Electronics 302 308 308 304 268
(2)
Air Liquide, world leader in gases for industry, health and the environment
April 24, 2013 Q1 2013 Revenue
Healthcare 598 599 607 678 659 +10.1% +3.4% Gas & Services 3,443 3,394 3,490 3,585 3,406
+1.5% Engineering & Technology 178 188 167 252 147
Other Activities 158 172 146 153 145
Group Total 3,779 3,754 3,803 3,990 3,698
+0.2% 29
(1) excluding the impact of currency, natural gas and significant scope. (2) Q1 2013 also excluding the impact of 2012 customer settlements.
Growth as published Natural Gas Currency Significant scope Comparable growth(1) Q4 2011
+3.5% +1.5% +0.8%
+1.9%
Q1 2012
+6.3% +0.7% +2.2%
+4.0%
(2)
Air Liquide, world leader in gases for industry, health and the environment (1) excluding the impact of currency, natural gas and significant scope. (2) Not revised for Seppic. (3) Q1 2013 also excluding the impact of 2012 customer settlements.
April 24, 2013 Q1 2013 Revenue
Q2 2012
+4.9% +0.0% +4.6%
+0.9%
Q3 2012
+6.5%
+4.9% +0.3% +1.6%
Q4 2012
+8.2% +0.2% +1.8% +1.6% +4.6%
Q1 2013
+1.4% +1.5%(3)
30
Middle-East and Africa Americas Europe Asia-Pacific
3% 23% 22% 52%
Americas: €0.8bn Asia-Pacific: €0.8bn Europe: €1.8bn
Air Liquide, world leader in gases for industry, health and the environment
Large Industries Electronics Healthcare Industrial Merchant
48% 35% 11% 6%
Americas: €0.8bn Asia-Pacific: €0.8bn Europe: €1.8bn
30% 38% 30% 2%
36% 36% 5% 23% April 24, 2013 Q1 2013 Revenue
31
Positive pricing Southern Europe still decreasing Double digit growth in Developing
Europe
HyCO demand improving
Industrial Merchant Large Industries Healthcare Electronics
30% 38% 30% 2% Air Liquide, world leader in gases for industry, health and the environment
April 24, 2013 Q1 2013 Revenue
0% 2% 4% 6% 8%
Industrial Merchant Large Industries
Q1 13/12 Comparable change (1): + 0.2%
+1.0%
(1) excluding the impact of currency, natural gas and significant scope.
HyCO demand improving Ramp-up in Russia Site takeover in Ukraine
Home Healthcare volume growth Tariff pressure on Hospitals sales Solid hygiene growth
Healthcare
32
+2.1% +12.5% LVL + Gasmedi
Strong pricing across the region Double digit growth in South
America
Fracking seasonality in North
America
Industrial Merchant Large Industries Healthcare Electronics
48% 35% 11% 6%
Air Liquide, world leader in gases for industry, health and the environment
April 24, 2013 Q1 2013 Revenue
0% 2% 4% 6% 8% 10%
Industrial Merchant Large Industries
Q1 13/12 Adjusted change (1): + 3.2%
+4.5% +7.0% +8.1%
Turnarounds in Jan and Feb Good HyCO loading Strong O2 volumes in Canada Start-up in Mexico
New medical gases contract in
Latin America
Bolt-on acquisitions
Healthcare
33
(1) excluding the impact of currency, natural gas, significant scope and 2012 customer settlements.
China growth driven by small
Soft developing Asia excl. China Japan still decreasing
Customer turnarounds
Industrial Merchant Large Industries Healthcare Electronics
36% 36% 5% 23%
Air Liquide, world leader in gases for industry, health and the environment
April 24, 2013 Q1 2013 Revenue
0% 2% 4% 6%
Industrial Merchant Large Industries
Q1 13/12 Adjusted change (1): + 1.0%
+5.1% +2.2%
Customer turnarounds Steel closure in Japan HyCO volumes improving
Growth driven by new E&I
contracts
ESG still low Start-up in Taiwan
Electronics
34
(1) excluding the impact of currency, natural gas, significant scope and 2012 customer settlements.
+ 3.4% + 0.9%
+0.5% + 2.9%
Q1 2013 FY 2012
Air Liquide, world leader in gases for industry, health and the environment
April 24, 2013 Q1 2013 Revenue
+ 1.9% + 6.4% + 1.0%
+ 1.1% + 4.7% + 1.5%
35
For further information, please contact: Investor Relations
Virginia Jeanson + 33 (0)1 40 62 57 37 Annie Fournier + 33 (0)1 40 62 57 18 Bastien Maurice + 33 (0)1 40 62 59 38
Communications
Anne Bardot + 33 (0)1 40 62 50 93 Corinne Estrade-Bordry + 33 (0)1 40 62 51 31
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Air Liquide, world leader in gases for industry, health and the environment
L’Air Liquide S.A. Corporation for the study and application of processes developed by Georges Claude with registered capital of 1,717,546,374.50 euros Corporate headquarters: 75, Quai d’Orsay 75321 Paris Cedex 07 Tel : +33 (0)1 40 62 55 55 RCS Paris 552 096 281
April 24, 2013 Q1 2013 Revenue
36