Innovation is the best antidote to uncertainty.
Benoît Potier : Innovation is a fundamental component of the Group. Above all, it is evident through the development of cuttingedge technologies in forward-looking fields such as space, superconductivity and new molecules for the semiconductor market. Our ability to innovate extends to CO₂ capture, process electrification and healthcare, leveraging technology to respond to the major challenges of our time. And of course, drawing on our pioneering spirit and more than 60 years of expertise in hydrogen, we continue deploying very large-scale low-carbon hydrogen projects.
Beyond purely technical advances, we also innovate at every level of the company—for example by reinventing the way we operate, while integrating major developments such as artificial intelligence. This is what enables us to stay ahead.
In your view, what are the main challenges for 2026 and how will you address them?
François Jackow : Our manufacturing sector is undergoing multiple transformations: the rise of China in the global economy; the reshoring movement aimed at strengthening sovereignties—particularly in the USA; the wave of artificial intelligence; and the indispensable energy transition. That is why, even if the immediate outlook appears marked by moderate growth, we remain convinced that new development avenues are emerging from the transformations our customers are experiencing. It is up to us to seize them wherever they arise and to build our own momentum.
To do so, we are acting according to a strategy built on several pillars. The first is to better leverage our existing assets by mobilizing available production capacities. The second relies on our ability to support transitions—whether in manufacturing, energy, technology or digital. This translates into investments in promising markets such as semiconductors, batteries, smart energy systems and space technologies. The final pillar is strengthening our positions in key geographies through a targeted acquisition policy—such as DIG Airgas in South Korea.
At the same time, we are continuing the Group’s transformation dynamic, initiated two years ago, to make our organization more agile.
This involves further optimizing our industrial and commercial operations while reinforcing our performance culture.
Benoît Potier : Our challenge is to continue growing in an economy that is both unstable and undergoing rapid technological acceleration. To achieve this, our growth trajectory relies on two key levers: innovation and a selective investment policy. Innovation has always been a source of value creation for the Group, and it is even more so at a time when technological sovereignty is becoming increasingly important. To translate it into industrial reality, investment is equally essential to deliver large-scale projects in future-oriented markets and technologies, particularly in the energy transition. In this area, the context has evolved and tensions are greater, but the stakes remain—just as our decarbonization ambitions do, even if the pathways to achieve them continue to evolve. Thanks to the commitment of our teams and supported by the trust and loyalty of our Shareholders—whom I warmly thank—we will continue, more than ever, to prepare the future by addressing its challenges with determination, pragmatism and consistency.
Interview conducted on February 27, 2026.