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 Lecorvaisier Chief Financial Officer
2013 Q1 activity Paris, April 24, 2013 Year on year activity progressing Developments in growing markets Solid investment cycle Performance & Responsibility 2 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
2013 Q1 activity Fabienne Lecorvaisier Chief Financial Officer Activity Activity Investments 3 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
Key figures Q1 13/12 Q1 2012 Q1 2013 Q1 13/12 Sales in € m Underlying as published activity Gas & Services 3,443 3,406 -1.1% +4.9% Engineering & Technology Engineering & Technology 178 178 147 147 -17.4% -17.4% Excl. currency -8.0% Other Activities 158 145 and natural gas Group Total 3,779 3,698 -2.1% +0.2% 4 April 24, 2013 Q1 2013 Revenue Air Liquide, world leader in gases for industry, health and the environment
Q1 2013 G&S positive underlying trend G&S revenue growth analysis 6 +2% +4.9 % 5 4 +1.5% 3 Underlying trend Underlying trend 2 2 +0.6% +0.6% +4.9% +1.9% 1 0 -1 -1.1% -2 Q1 2013 as Forex Natural gas 2012 Working days Q1 2013 reported Customer Activity Settlements 5 April 24, 2013 Q1 2013 Revenue Air Liquide, world leader in gases for industry, health and the environment
Moderate growth in a contrasted environment G&S comparable growth (1) 2010 2011 2012 2013 +11.4% 12% +11.3% +11.0% +10.7% +9.7% 10% +8.3% +7.7% 8% 6% +4.6% +4.0% 4% +1.9% +1.5% (2) +1.6% 2% +0.9% 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 (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. 6 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
Growth in Developing economies Comparable G&S sales growth (1) (Q1 2013/ Q1 2012) -1% +21% + 9% +1% (2) growth growth +5% -4% (2) +17% +13% 23% of G&S in Q1 2013 Developing economies Advanced economies (1) excluding the impact of currency, natural gas and significant scope. (2) also adjusted for the impact of 2012 customer settlements. 7 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
Growth in Healthcare Q1 2013 Growth (1) +13% +12% growth (1) growth +8% +5% +19% 19% of G&S in Q1 2013 Healthcare presence (1) growth excluding currency impacts. 8 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
All zones positive Comparable G&S sales growth (1) Total G&S +1.5% € 3,406m +4.6% Industrial Merchant Home Healthcare +0.2% Europe in Southern Europe € 1,769m Developing economies +2.3% Tariff pressure on Hospitals HyCO loading HyCO loading Americas (2) Americas (2) Customer maintenance Customer maintenance +3.2% +3.2% Merchant pricing € 766m +7.6% Seasonal fracking activity Bolt-on acquisitions Asia Pacific (2) +1.0% China Industrial Merchant in € 780m Japan +6.2% Electronics E&I +16.8% ME & Africa Volume growth € 91m +11.2% Q1 2013 Q4 2012 (1) Excluding the impact of currency, natural gas and significant scope. (2) Q1 2013 also excluding the impact of 2012 customer settlements. 9 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
Large Industries and Healthcare reaching 55% of G&S G&S Q1 2013 comparable growth (1) Industrial Merchant Large Industries +8% +7% +4% +4% (2) +3% +3% +2% +2% +1% +1% 37% 36% Q1 12 Q1 12 Q2 12 Q2 12 Q3 12 Q3 12 Q4 12 Q4 12 Q1 13 Q1 13 Q1 12 Q1 12 Q2 12 Q2 12 Q3 12 Q3 12 Q4 12 Q4 12 Q1 13 Q1 13 Electronics Healthcare +14% +12% 8% 19% +2% LVL + Gasmedi +6% +5% +2% -6% -11% -12% -12% Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 (1) excluding the impact of currency, natural gas and significant scope. (2) Q1 2013 also excluding the impact of 2012 customer settlements. 10 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
Pursued momentum in Engineering & Technology E&T order intake (1) Third party E&T sales 1,942 785 In € m In € m 1000 300 252 718 750 188 188 200 200 178 556 147 167 448 500 417 100 251 250 0 0 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 2012 2013 2012 2013 (1) including advanced Business and Technologies order intake. 11 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
Operational indicators in line G&S sales Group Efficiencies 2013 Objective > 250 M € In € bn In € m 4 80 3.4 3.4 3.2 66 59 2.8 60 3 59 60 2 40 1 20 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 0 0 2010 2011 2012 2013 0 2010 2011 2012 2013 Net Capex (1) Operating Cash flow (2) In € m In € m 600 531 500 508 464 457 444 424 381 400 400 353 200 300 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 0 200 2010 2011 2012 2013 2010 2011 2012 2013 (1) industrial and financial investments, including transactions with minorities, net of divestitures (2) after change in working capital requirement 12 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
2013 Q1 activity Jean-Pierre Duprieu Executive Vice-President Activity Activity Investments 13 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
Long investment cycle in Large Industries Opportunities under discussion Commissioning and revenue Signature Construction 12-month portfolio Industrial capex Industrial Start-ups and ramp-ups of opportunities Investment (for a capital intensity of 2) decisions In € M Revenue amount 100 100 100 4 years 50 50 45 40 30 30 20 … 2010 2008 2009 2010 2010 2011 2012 2013 2014 2015 … 2010 2008 2009 2011 2012 2013 2014 2015 … 14 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
4-year time lag between decisions and sales Industrial projects (above € 10m investments) In € m 1200 700 600 4 years 1000 500 800 400 600 300 400 200 200 100 0 0 2006 2007 2008 2009 2010 2011 2012 2013 e 2014 e 2015 e Industrial investment decisions Incremental sales from industrial projects 15 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
Solid investment cycle 12-month portfolio Investment of opportunities decisions (1) Net capex (1) Start-ups (2) In € bn In € m In € m 50 e 24 4.2 710 4.1 4.0 4.0 17 1.5 527 531 1.4 1.3 16 1.4 494 508 15 444 403 403 380 380 350 350 2.7 2.7 2.7 2.5 168 6 Dec- Jun- Dec- Mar- Q1 09 Q1 10 Q1 11 Q1 12 Q1 13 Q1 09 Q1 10 Q1 11 Q1 12 Q1 13 2009 2010 2011 2012 2013 2014 11 12 12 13 Q1 2013 68% 35 % 42% 66 % Developing Economies Advanced Economies Acquisitions (2) Industrial investments > € 10m (1) industrial and financial investments, including transactions with minorities, net of divestitures 16 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
Q1 2013 development initiatives Home Healthcare acquisition H 2 filling stations Chemical contract CO 2 development Contract Carrier gases renewal Further Further outsourcing CO 2 development Carrier gases € 710 m in Q1 Further CO 2 development outsourcing 2013 Large industries Industrial Merchant Healthcare Electronics 17 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
Performance & Responsibility 18 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
Performance & Responsibility “To be the leader of our industry through Ambition performance and responsibility over the long term.” “Strengthening our competitiveness Strategic and innovation for objective profitable growth over the long term” 19 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
Increased recognition 2012 Rewards and recognitions GS Sustain # 1 industrial gases Ethibel Excellence Sustanability index Ethibel Excellence Sustanability index AA AA for the 9th consecutive year N° 1 Vigeo Euronext Vigeo in industrial 2 nd best rating Europe 120 index gases Healthcare industry in Europe (1) AA rating since February 2012. 20 Air Liquide, world leader in gases for industry, health and the environment April 24, 2013 Q1 2013 Revenue
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