Air Liquide Sees Net Growing in 2017 After Airgas Boosted 2016 Figure
February 15 2017 - 2:19AM
Dow Jones News
By Inti Landauro
PARIS--French industrial-gas manufacturer and supplier Air
Liquide SA (AI.FR) Wednesday said it expects net profit will rise
again this year after the $10 billion acquisition of Airgas boosted
profitability in 2016.
The company said its net profit in 2016 rose 5% to 1.84 billion
euros ($1.95 billion), from EUR1.76 billion. Revenue gained 15% to
EUR18.14 billion. Analysts polled by FactSet had forecast an
average net profit of EUR1.85 billion and revenue of EUR18.63
billion.
Air Liquide met its target of raising earnings per share even
after it sold more than EUR3 billion in new shares to finance the
acquisition of Airgas.
As the firm's traditional businesses in Western Europe stagnated
after the financial crisis in 2008-10, Air Liquide expanded in
other sectors such as health care. With the acquisition of Airgas,
the company targeted growth in the U.S., where the outlook is
brighter than in Western Europe.
The company raised its dividend to EUR2.60 a share, from
EUR2.53, and will offer one new share to holders for every 10
shares they own.
Write to Inti Landauro at inti.landauro@wsj.com
(END) Dow Jones Newswires
February 15, 2017 02:04 ET (07:04 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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