Air Liquide Profit Slips on Currency Headwinds, Lower Energy Prices

By Helena Smolak

Air Liquide's first-half profit and revenue fell, buffeted by currency headwinds and lower energy prices, but beat analysts' expectations.

The French industrial-gases company said Friday that net profit for the first six months fell to 1.68 billion euros ($1.8 billion) from EUR1.72 billion in the same period of last year.

Revenue declined by 4.3% to EUR13.38 billion, with revenue at its core gas-and-services business slipping 4.5% to EUR12.80 billion.

The results topped first-half expectations of EUR1.62 billion in net profit and EUR13.37 billion in revenue, according to Vara Research consensus.

Meanwhile, the Paris-based company said its investment momentum was strong, with a EUR4.1 billion project backlog.

Air Liquide said it remained confident of increasing its operating margin and of posting recurring net profit growth at constant exchange rates this year.

Write to Helena Smolak at helena.smolak@wsj.com

(END) Dow Jones Newswires

July 26, 2024 01:58 ET (05:58 GMT)

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