Air Liquide Estimates Overview >> Group
Consensus as of: 21/01/2025 (Consensus = Median)

Consensus estimates, Group [EUR m]Q4 2023H2 2023FY 2023Q4 2024 EH2 2024 EFY 2024 EFY 2025 EFY 2026 EFY 2027 E
SALES
Group sales6,817.013,627.327,607.66,863.513,625.527,004.128,809.930,530.031,905.3
Published growth (%), group-8.9%-13.4%-7.8%0.7%0.0%-2.2%6.7%6.0%4.5%
Significant perimeter impact (%), group-0.1%0.3%0.3%0.0%0.0%0.0%0.0%0.0%0.0%
Currency impact (%), group-5.8%-6.1%-4.2%0.5%-1.3%-2.4%1.8%0.0%0.0%
Energy impact (%), group-6.7%-10.2%-7.6%-1.4%-1.2%-2.3%0.0%0.0%0.0%
Comparable growth (%), group3.7%2.6%3.7%1.6%2.5%2.5%5.0%5.7%5.5%
Gas & Services sales6,472.012,955.026,360.06,526.612,971.625,767.627,497.929,065.730,513.8
Published growth (%), G&S-8.5%-13.5%-7.8%0.8%0.1%-2.2%6.7%5.7%5.0%
Significant perimeter impact (%), G&S0.0%0.3%0.3%0.0%0.0%0.0%0.0%0.0%0.0%
Currency impact (%), G&S-6.0%-6.2%-4.2%0.5%-1.4%-2.5%1.5%0.0%0.0%
Energy impact (%), G&S-7.1%-10.7%-8.0%-1.5%-1.2%-2.5%0.0%0.0%0.0%
Comparable growth (%), G&S4.6%3.1%4.2%1.8%2.7%2.7%4.5%5.7%5.5%
Engineering & Construction sales100.0210.0390.0104.0214.0411.0431.0451.4463.6
Published growth (%), E&C-27.1%-17.1%-17.7%4.0%1.9%5.4%4.9%4.7%2.7%
Global Markets & Technologies sales245.0463.0858.0227.1434.1820.1885.2958.31,031.4
Published growth (%), GM&T-8.3%-7.8%-3.3%-7.3%-6.2%-4.4%7.9%8.3%7.6%
P&L
Group sales (P&L)6,817.013,627.327,607.66,863.513,625.527,004.128,809.930,530.031,905.3
Published growth (%) (P&L)-8.9%-13.4%-7.8%0.7%0.0%-2.2%6.7%6.0%4.5%
EBITDA-3,8407,550-4,0287,8568,5159,23710,199
D&A--1,253-2,482--1,267-2,494-2,606-2,775-2,913
Operating Income Recurring (OIR)-2,5875,068-2,7655,3665,9086,4897,175
OIR margin (%)-19.0%18.4%-20.3%19.9%20.8%21.4%22.4%
        OIR G&S-2,6845,271-2,8605,5796,1166,7167,397
        OIR margin G&S (%)-20.7%20.0%-22.1%21.7%22.4%23.2%24.3%
Exceptionals--530-497--255-342-190-167-178
Group operating income-2,0584,572-2,5105,0245,7586,2976,950
Net financial costs & expenses--205-416--215-431-416-416-405
Income taxes--433-972--599-1,141-1,326-1,490-1,628
Tax rate (%)-23.4%23.4%-26.4%25.0%25.0%25.5%25.0%
Share of profit of associates-35-50001
Net income from continuing operations-1,4233,188-1,7093,4593,9994,4024,888
Profit for the period-1,4233,188-1,7093,4593,9994,4024,888
Minority interests--66-110--58-127-138-147-159
Net profit (Group share)-1,356.43,078.0-1,658.53,339.43,866.64,268.44,733.9
Net profit growth (%)--6.7%11.6%-22.3%8.5%15.8%10.4%10.9%
Weighted average number of shares (m)-575.8522.1-576.3576.3576.3576.3576.3
As published earnings per share (EPS in EUR)-2.365.35-2.885.806.717.418.20
As published EPS growth (%)--6.7%11.6%-22.0%8.4%15.7%10.4%10.7%
Dividend per share (DPS in EUR)--2.90--3.103.323.513.68
DPS growth (%)--8.5%--6.9%7.1%5.7%4.8%
CASH FLOW
Net cash flows from operating activities-3,3036,263-3,3966,2416,8227,4598,242
Purchase of property, plant and equipment and intangible assets--1,679-3,393--1,994-3,650-4,034-4,470-4,724
Acquisition of subsidiaries and financial assets--71-103-0-43000
Proceeds from sale of property, plant and equipment and intangible assets and proceeds from sale of financial assets and dividend received from equity affiliates-115403-0131000
Net cash flows from investing activities--1,636-3,093--2,002-3,570-4,034-4,470-4,691
PPE / Sales (%)-12.3%12.3%-14.7%13.5%14.2%14.9%14.4%
Net Industrial and Financial CAPEX / Sales (%)-12.0%11.2%-14.7%13.5%14.2%14.8%14.3%
Free cash flow (net cash flows from operating and investing activities)-1,6673,170--2,6512,8023,0213,333
Dividends paid---1,667---1,834-1,885-2,035-2,146
NET DEBT
Net debt at the end of the period (excl. IFRS 16)---9,221---9,005-8,232-7,746-6,718
Disclaimer

This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.