Integrated Annual Report 2024

A unique model

Resilience, innovation and longterm value creation are the three strengths of Air Liquide's business model, which relies on the diversity of its activities serving almost all sectors of the economy. The strong integration of the various activities allows the Group to create numerous synergies that are not limited to the industrial aspect, but also include technological expertise, innovation, human resources and financial management. It thus facuses on key industrial basins from which the Group can develop. This specificity of Air Liquide's business model is a pillar on which the Group relies to generate growth and performance.

Industrial facilities (by activity)

1. Large industries

Gases: CO₂, H₂, O₂
Customers: Refining, Petrochemicals, Steel, Carbon capture ⁽³⁾
Installations:
ASU ⁽¹⁾ (Air Separation Unit)
SMR ⁽²⁾ (Steam Methane Reformer)
Interconnected pipeline networks

2. Industrial Merchant

Customers: Bulk and/or cylinder
Sites : Filling centres, On-site customers ⁽⁴⁾

3. Healthcare

Uses: Hospital, Patient at home
Locations: Filling centre

4. Electronics

Customers: Electronics industry
Locations: Advanced materials production centre, Filling centre
Installations:
N2 generator.

5. Innovation and Technologies

Customers: Deep tech, Plants & equipment for industrial gas production for third party customers or for the Group
Solutions: CO₂ sequestration, hydrogen solutions for transport, etc.
Energy transition technologies.
Multi-customer distribution: approximately 250 km ⁽⁵⁾.

(1) ASU: air gases production unit (air separation unit).
(2) SMR: hydrogen production unit (steam methane reformer).
(3) Carbon Capture: for hard-to abate sectors to decarbonize their activities
(4) On-site: small gas generator on the customer site.
(5) Air Liquide's model is designed so that gases are packaged and distributed in a given geographical area, around 250 km maximum from the production site.