Benoît Potier, 
Chief Executive Officer

The health crisis that we have endured this particular year has highlighted more than ever Air Liquide’s strengths, in particular its solid business model and long-term strategy. Benoît Potier discusses the Group’s ability to adapt in times of crisis, which has been widely demonstrated in its history and again today.

As we approach the end of 2020, what conclusions are you drawing on the health crisis and its impact on the Group’s performance?

As we have all seen, 2020 has been out of the ordinary. The global health crisis will without a doubt have a lasting effect on society and the economy. It has also underlined the Group’s exceptional resilience, thanks notably to its solid business model and the trust of its shareholders. Our first-half results reflected this, with high sales resilience, a significant improvement in operating margin and an increase in net profit. The health crisis also emphasized the commitment and capacity for initiative of Air Liquide’s employees across the world. The Group’s achievements during this period were made possible thanks to the collective efforts, as of day one of the pandemic, to ensure the continuity of our activities. The Group’s strong performance also reflects the relevance of its strategic choices which allow us to build profitable, regular and responsible growth over the long term: meeting the major challenge of the energy and climate transition, supporting changes in healthcare, and harnessing the full potential of digitization. More broadly, Air Liquide is a corporate citizen that shoulders its responsibilities, in particular when they are in the public’s interest. We stepped up to the mark in the wake of the health crisis. We are also responding to the ecological crisis.

Precisely, two years ago, Air Liquide announced the most ambitious Climate objectives in its sector. In what way is the Climate commitment a decisive factor in this crisis?

One of the clear effects of this crisis is the way in which it has accelerated general awareness of the need to protect the planet. The energy transition is a common feature of economic recovery plans across the globe. Companies have a key role to play in reducing CO₂ emissions, and Air Liquide has been committed to this approach for many years. Our Climate objectives have helped us structure our commitment and go even further. In 2020, we made progress in this respect through major achievements: investments in energy-efficient plants, acquisition and modernization of the world’s largest oxygen production site in South Africa, renewable electricity procurement, optimization of our industrial processes, development of biomethane and hydrogen energy. We are working in this field on a global scale, particularly within the Hydrogen Council, to promote the emergence of a hydrogen economy. Its recent inclusion in several European economic recovery plans will provide a real boost to the sector’s development and should make hydrogen energy a reality on an international scale.

Maintaining the close relationship between the Group and its shareholders is a challenge during the current health crisis. How are you managing this?

Share ownership, in particular individual, has been at the heart of Air Liquide’s DNA since its creation. The same is true of the opportunities to meet and talk with our shareholders, which make the relationship between them and the Group so special. This unprecedented year has unfortunately made these face-to-face meetings impossible, a situation which I deeply regret. I am strongly attached to these moments of dialogue, which reflect a genuine shareholder democracy and allow me to better understand the questions and expectations of our shareholders each time we meet . We have nevertheless taken all the measures possible to maintain this relationship: Shareholder Services can be contacted remotely via all means of communication and our communications material is increasingly digitized and interactive. But we have also decided to organize a major digital event at the end of the year, which will allow me to discuss a topic with our shareholders that they are passionate about and to which I am personally highly committed: hydrogen energy. This event will provide the opportunity to answer their questions on this major social topic and present the numerous upcoming prospects for the Group.

I therefore invite you, dear Shareholders, to our digital event at 6 p.m. (Paris time) on December 10 on the airliquide.com website. I also invite you, as of today, to submit any questions you may have regarding hydrogen energy. Thank you for your loyalty and enjoy your reading.