2019 Results: a landmark year to Air Liquide

Highlights and performance of the group in 2019

2019 Results: a landmark year to Air Liquide

2019 Results: a landmark year to Air Liquide


Net profit (Group share)

€2,2 bn

+6.1%

Strong performance improvement

Group
sales growth : +4.3%

Operating margin
improvement: +70 bps(a)

Recurring ROCE
progress: +60 bps(b)

(a) Excluding energy impact.

(b) Return on Capital Employed based on Recurring Net Profit (excluding exceptional and significant operations not impacting the operating income recurring).

Decisions to serve our customers and strengthen our efficiency

INDUSTRIAL INVESTMENT DECISIONS

High level of investments, major signings in key basins


2019 :  3.2 billions euros


Commitment to climate reaffirmed

FURTHER REDUCTION OF CARBON INTENSITY

(kg CO2 /€ EBITDA)(c)


  • 2015 : Initial Carbon Intensity Commitment : 6.3
  • 2019 : Initial Carbon Intensity Commitment : 4.6
  • 2025 : Initial Carbon Intensity Commitment : 4.4

(c) Operating Income Recurring before Depreciation and at 2015 exchange rate.

Dividend Proposal: 2.70 euros(d)


+12.4% Strong dividend increase

  • Increase of nominal
  • Free share attribution

Payout ratio: 58%

Dividend Growth

Dividend(e) in euro per share


+9.0 20 years CAGR *

€2,70(d)

Including free shares attribution every other year.

* Compound annual growth rate.

(d) Subject to the approval of shareholders during the General Meeting on May 5, 2020.

(e) Historical data adjusted for past free share attributions and for a factor of 0,974 reflecting the value of the rights of the 2016 capital increase.