Air Liquide SA on Wednesday said it continues to invest in key growth drivers as challenging market conditions resulted in a fall in revenue in the third quarter.
Air Liquide optimistic despite revenue decline
The Paris-based provider of industrial gases and services said total revenue fell 0.7% to EUR6.76 billion in the third quarter of 2024 from EUR6.81 billion a year prior.
Gas & Services revenue declined 0.6% to EUR6.45 billion, representing 95% of total revenue.
Engineering & Construction revenue rose 0.2% to EUR110 million while Global Markets & Technologies revenue fell 5.0% to EUR207 million.
CEO comment
Chief Executive Officer Francois Jackow commented: "In a difficult market environment...We continued to improve our margin and our investment decisions reached a record level, paving the way for long-term growth. Through the tangible solutions we provide to our customers, our group supports major transformations, such as the energy transition and those accelerated by digital technology and Artificial Intelligence, which are key growth drivers."
"Well diversified, our investment backlog was still at the very high level of EUR4.2 billion in this third quarter. Reaching a record level, investment decisions amounted to EUR1.4 billion with major projects in Large Industries and Electronics."
