rd Quarter Underlying trend continued and 2013 objective maintained. Pierre Dufour l Senior Executive Vice President

Transcription

1 rd Quarter Underlying trend continued and 2013 objective maintained Paris, October 24, 2013 Pierre Dufour l Senior Executive Vice President Fabienne Lecorvaisier l Chief Financial Officer

2 rd Quarter Paris, October 24, 2013 Robust underlying trend continued Operational indicators in line Focus on growth projects Execution New signatures 2 October 24, 2013

3 rd Quarter Paris, October 24, 2013 Fabienne Lecorvaisier l Chief Financial Officer Positive signals in Advanced economies Pursued momentum in Developing economies Early signs of recovery in Electronics Strong Healthcare volumes 3 October 24, 2013

4 Robust underlying trend continued Sales in m Q3 12 Q3 13 Q3 13/12 as published Q3 13/12 excl. currency and nat gas YTD 13/12 excl. currency and nat gas Gas & Services 3,490 3, % +5.1% +4.0% Engineering & Technology % +13.2% +6.0% Other Activities % -3.9% -6.1% Group Total 3,803 3, % +5.1% +3.7% 4 October 24, 2013

5 Sustained activity level Quarterly G&S activity indicator (1) Base 100, Average Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 (1) Revenue (excluding currency and natural gas impacts), adjusted for the number of days per month 5 October 24, 2013

6 Solid Americas and improvement in Japan G&S for Industries (GSI) sales growth (1) (Q3 2013/Q3 2012) -2% +32% + 9% growth +8% +4% +4% +3% +18% 27% of GSI in Q Advanced economies Developing economies +2% +9% (1) GSI sales excluding Healthcare sales. Excluding the impacts of currency and natural gas. 6 October 24, 2013

7 Strong Healthcare volumes Healthcare sales growth (1) (Q3 2013/Q3 2012) +14% +13% growth (1) +9% +12% +15% 19% of G&S in Q Healthcare presence (1) Growth excluding currency impacts. 7 October 24, 2013

8 Better Americas and Asia YTD sales Growth (1) Total G&S +5.1% 10,329m +4.0% Europe 5,291m Americas 2,404m +3.8% +4.1% +9.1% +5.7% South Europe GSI Healthcare tariffs Ramps-ups in East Bulk in West Home Healthcare volumes Industrial demand E&I in Electronics South America Asia Pacific 2,358m +1.5% +4.0% Outages in China Japan Electronics ME & Africa 276m +5.3% +12.5% Sourcing Egypt Q YTD 2013 (1) Excluding the impact of currency and natural gas. 8 October 24, 2013

9 All business lines back to growth in Q3 G&S growth (1) Industrial Merchant +2.7% YTD Large Industries +2.2% YTD +7% +8% +4% +2% +1% +2% +1% +4% +4% 37% 35% +3% +4% +3% (2) +5% +3% Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q3 Electronics -2.0% YTD 2013 Healthcare +13.7% YTD +16% 9% 19% +14% +13% +4% +2% +12% LVL + Gasmedi +6% +5% -6% -4% +2% -11% -12% -12% Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 (1) Excluding currency and natural gas impacts. (2) Q also excluding the impact of 2012 customer settlements. 9 October 24, 2013

10 Confirmed positive base business G&S quarterly growth analysis 7,0% 5,0% 3,0% 1,0% Base business Start-ups, Ramp-ups, Site takeovers, Small acquisitions Significant perimeter -1,0% -3,0% Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q excluding the impact of 2012 customer settlements. 10 October 24, 2013

11 Solid Q3 Engineering & Technology E&T order intake (1) Third party E&T sales 1,386 1, In m % (2) 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 0 Q1 Q2 Q3 Q4 Q1 Q2 Q (1) Including advanced Business & Technologies order intake. (2) Excluding currency and natural gas impacts. 11 October 24, 2013

12 Consistent performance In bn Group sales Operating Cash flow (2) In bn 2,5 2, ,5 4 +4% (1) 1,0 +7% (3) 2 0,5 0 YTD 11 YTD 12 YTD 13 0,0 YTD 12 YTD 11 YTD 13 In m 200 Group Efficiencies Net Capex (4) FY 2013 Objective 250 M 209 In bn 2, Industrials 1.9 Financial 1, Industrials +10% 0, October 24, 2013 YTD 11 YTD 12 YTD 13 0 YTD 11 YTD 12 YTD 13 (1) Excluding currency and natural gas impacts. (2) From operations, before WCR. (3) Excluding currency impact. (4) Industrial and financial investments, including transactions with minority shareholders, net of divestitures.

13 rd Quarter Focus on growth projects Paris, October July 30, , 2013 Pierre Dufour l Senior Executive Vice President Execution New signatures 13 October 24, 2013

14 Managing projects for profitable growth Engineering & Construction Technology & Execution Delivery CUSTOMER Technical Standards Markets Best practices Investing subsidiary Business line 14 October 24, 2013

15 Group project development process Identify Customer needs Define solution Develop Project Bid & Negotiate Award Selection committee RIC ZPR RIC Resources allocation For Large Industries only Strategy validation Project reviews ERC Technical and Execution Risk Assessment Offer approval Governance RIC: Resource & Investment committee ERC: Engineering & Risk committee ZPR: Zone project review legend In Portfolio Out 3.1 bn (1) (1) Industrial growth projects, value > 10 m. From 3.8 bn total portfolio. 15 October 24, 2013

16 supported by E&C global expertise as of ,000 employees 15 Engineering centers 3 workshops > 1,600 patents Recognized expertise in: Cryogenics HyCO Petrochemicals, Refining, Polymers Chemical conversion Biofuels Engineering centers Manufacturing workshops Business offices Cryogenic equipment centers 16 October 24, 2013

17 allowing customized value propositions GASIFICATION ISLAND END PRODUCTS Coal Gasification GAS TREATMENT Rectisol N 2 wash Syngas CO + H 2 Methanation Synthesis SNG MEOH O 2 PSA CO shift Fischer Tropsch IGCC FUELS POWER ASU Residue Air Liquide technology legend ASU: Air Separation Unit PSA: Pressure Swing Adsorption IGCC: Integrated Gasification Combined Cycle SNG : Synthetic Natural gas 17 October 24, 2013

18 Project execution process Award Project execution Start-up Ramp-up Full operation RIC Zone management Zone management Group Operations Control Capital appropriation Execution follow up Industrial and Financial follow-up Performance review For Large Industries only Decisions Agregated Investment decisions in hand 2.4bn (1) Capex Av. cash-out per year 0.7bn (1) (2) Impact on P&L Incremental G&S sales (1) Industrial projects > 10M. (2) Average October 24, 2013

19 E&C projects in hand: 4.3bn E&C orders in hand as of Sept in bn by destination Third-parties (Sale of Equipment) 4.3 Group projects Middle-East & Africa by geography Europe Others by market Metals Asia 4.3 Americas Energy 4.3 Chemicals 19 October 24, 2013

20 More Large projects in recent years E&C cumulated order intake YTD Large > 100 M Small < 50 M Medium M 20 October 24, 2013

21 Executing Major Investment Yanbu Complex environment 350 M investment 5 M safe hours performed Project on schedule, on budget Size of a football field Start of discussion Contract signature Mechanical completion Start up 21 October 24, 2013

22 rd Quarter Focus on growth projects Paris, October July 30, , 2013 Pierre Dufour l Senior Executive Vice President Execution New signatures 22 October 24, 2013

23 Solid investment cycle 12-month portfolio of opportunities Investment decisions (1) Net capex (1) Start-ups (2) In bn In bn In bn YTD Mar-13 Jun-13 Sept-13 YTD 11 YTD 12 YTD 13 YTD 11 YTD 12 YTD e 2014e Sept 13 YTD13 YTD e 67% 38% 41% 73% Developing Economies Advanced Economies Acquisitions (1) Industrial and financial investments, including transaction with minority shareholders, net of divestitures (2) Industrial projects > 10m 23 October 24, 2013

24 New signatures in Q3 * 650m In Q Industrial decisions * Takeovers Acquisitions Large industries Industrial Merchant Healthcare Electronics 24 October 24, 2013

25 2013 Outlook Q Robust underlying trend continued Operational indicators in line New signatures 2013 objective maintained Barring a degradation of the environment, Air Liquide is confident in its ability to deliver another year of net profit growth in October 24, 2013

26 rd Quarter Appendix 26 October 24, 2013

27 Impact of currency and natural gas on G&S revenue Currency In m Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 /USD (3) (10) (30) /CAD (2) (5) (16) /JP +30 (3) (40) (55) (74) Others (20) (27) (82) Total currency impact (65) (97) (202) Average rate Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 /USD /CAD /JP Natural Gas In m Natural Gas Impact (9) +4 (21) (8) (23) 27 October 24, 2013

28 Q2 trend continued G&S comparable growth (1) % 14% 12% 10% 8% 11.3% 11.4% 10.7% 11.0% 9.7% 8.3% 7.7% 6% 4% 2% 1.9% 4.0% 0.9% 1.6% 4.6% 1.5% (2) 4.0% 3.9% 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 (1) Excluding forex, natural gas and significant scope impacts and 2011 growth rates are not restated for the integration of Seppic into the G&S activity. (2) Q adjusted for the impact of 2012 customer settlements. 28 October 24, 2013

29 Growth in Q G&S revenue in m , % <23> -0.6% <202> % +1.2% 3, % published growth % excl. currency and natural gas Q Comparable growth(1) Natural gas Currency Significant perimeter Q (1) Excluding forex, natural gas and significant scope impacts 29 October 24, 2013

30 Revenue analysis by quarter (1) Sales in m Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q3 13/12 Q3 13/12 comparable (1) Europe 1,728 1,827 1,769 1,778 1, % +1.5% Americas % +9.1% Asia-Pacific % +4.0% Middle-East & Africa % +5.3% Gas & Services 3,490 3,585 3,406 3,479 3, % +3.9% Engineering & Technology % +13.2% Other Activities % -3.9% Group Total 3,803 3,990 3,698 3,863 3, % +4.0% (1) Excluding forex, natural gas and significant scope impacts 30 October 24, 2013

31 Revenue analysis by quarter (2) Sales in m Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q3 13/12 Q3 13/12 comparable (1) Large Industries 1,253 1,296 1,225 1,236 1, % +2.7% Industrial Merchant 1,322 1,307 1,254 1,284 1, % +3.8% Healthcare % +6.5% Electronics % +4.2% Gas & Services 3,490 3,585 3,406 3,479 3, % +3.9% Engineering & Technology % +13.2% Other Activities % -3.9% Group Total 3,803 3,990 3,698 3,863 3, % +4.0% (1) Excluding forex, natural gas and significant scope impacts 31 October 24, 2013

32 G&S Revenue growth by quarter (3) Growth as published Natural Gas Currency Significant scope Comparable growth (1) Q % +0.7% +2.2% -0.6% +4.0% Q % +0.0% +4.6% -0.6% +0.9% Q % -0.3% +4.9% +0.3% +1.6% Q % +0.2% +1.8% +1.6% +4.6% Q % -0.6% -1.9% +1.4% +1.5% (2) Q % -0.2% -2.9% +1.6% +4.0% Q % -0.6% -5.8% +1.2% +3.9% (1) Excluding forex, natural gas and significant scope impacts. (2) Q also excluding the impact of 2012 customer settlements. 32 October 24, 2013

33 YTD 2013 Revenue breakdown by region Gas & Services YTD 2013 Revenue 10.3bn Europe Americas Asia Middle-East and Africa Europe: 5.3bn Americas: 2.4bn Asia: 2.4bn 31% 37% 47% 35% 36% 36% 2% 30% 7% 11% 23% 5% Industrial Merchant Large Industries Healthcare Electronics 33 October 24, 2013

34 Europe in Q3 Q3 Gas & Services sales: 1,745m Large Industries Air gases revenue stabilizing Lower HyCO volumes in Germany Ramp-ups in Eastern Europe Large Industries Healthcare Electronics Industrial Merchant Industrial Merchant Stabilization in Western Europe Growth in Eastern Europe Positive pricing Healthcare Strong volumes Home healthcare acquisitions Q3 13/12 Comparable change (1) : +1.5% +0.8% -0.3% Healthcare (2) Industrial Merchant Large Industries -2% 1% 3% 6% In m YTD 2013 Publ. growth Comp. growth (1) +14.1% Revenue 5, % +1.3% (1) Excluding impact of currency, natural gas and significant scope. (2) Including significant scope. 34 October 24, 2013

35 Americas in Q3 Q3 Gas & Services sales: 813m Large Industries Strong petrochemicals demand Site takeover in the US Ramp-up in Mexico Industrial Merchant Good volume growth across the region Continued strong pricing Healthcare Bolt-on acquisitions Strong volumes and new contracts Electronics Pick-up in E&I sales ESG improvement Healthcare Large Industries Electronics Industrial Merchant Q3 13/12 Comparable change (1) : +9.1% Industrial Merchant Large Industries Healthcare Electronics +8.8% +9.0% +9.0% -10% -5% 0% 5% 10% 15% In m YTD 2013 Publ. growth +11.9% Comp. growth (1) Revenue 2, % +5.7% (1) Excluding impact of currency, natural gas and significant scope. 35 October 24, 2013

36 Asia-Pacific in Q3 Q3 Gas & Services sales: 796m Large Industries Shut downs in China Lack of start-ups in the region Electronics Healthcare Large Industries Industrial Merchant Industrial Merchant 1 st quarterly growth in Japan since 2011 Regular growth across the region Electronics E&I sales in Japan New Carrier gases contracts in China Q3 13/12 Comparable change (1) : +4.0% Industrial Merchant Large Industries Electronics -3% -1% 1% 3% 5% 7% In m YTD 2013 Publ. growth +2.9% +3.9% +4.2% Comp. growth (1) Revenue 2, % +1.5% (1) Excluding impact of currency, natural gas and significant scope. 36 October 24, 2013

37 Industrial Merchant pricing Q YTD 2013 Europe +0.5% +0.5% Americas +3.8% +3.6% Asia-Pacific +0.6% +0.9% Middle-East and Africa +2.3% +4.9% Total Industrial Merchant +1.6% +1.7% 37 October 24, 2013

38 Combining strengths in Advanced Electronics Materials Facilities R&D center Leadership in strategic materials production Facilities R&D center Leadership in new materials development 38 October 24, 2013

39 For further information, please contact: Investor Relations Virginia Jeanson + 33 (0) Annie Fournier + 33 (0) Bastien Maurice + 33 (0) Communications Anne Bardot + 33 (0) Anette Rey + 33 (0) Follow us on L Air Liquide S.A. Corporation for the study and application of processes developed by Georges Claude with registered capital of 1,717,546, euros Corporate headquarters: 75, Quai d Orsay Paris Cedex 07 Tel : +33 (0) RCS Paris October 24, 2013