(Reuters) – French industrial gases supplier Air Liquide reported third-quarter revenue in line with market expectations on Wednesday, benefiting from growth in its healthcare division, the Americas and Asia.
Air Liquide reaffirmed its expectations of a further increase in its operating margin and a recurring net profit growth at constant exchange rates in 2024. It is targeting an increase of 320 basis points (bps) in operating margin by 2025.
The company, which supplies gases such as oxygen, nitrogen and hydrogen to factories and hospitals, said its comparable revenue rose 3.3% to 6.76 billion euros ($7.30 billion) in the July-September period.
Sales in Air Liquide’s gas and services segment, accounting for 95% of its business, rose 3.6% on a comparable basis to 6.45 billion euros.
“Paving the way for future growth, our investment momentum is particularly strong”, Chief Executive Officer François Jackow said in a statement.
Analysts polled by Vara Research were expecting comparable revenue growth and gas and services segment growth to rise 3.3% and 3.6% respectively on average.
($1 = 0.9258 euros)
(Reporting by Olivier Cherfan; Editing by Matt Scuffham)
