Cost cuts lift Air Liquide's profits

摘要

Air Liquide says net profits in the first half increased 1.8% year on year (YOY), to €1.11 billion ($1.3 billion), on €10.27 billion of revenue, 6.2% lower YOY. The company’s comparable sales, down 3.2% YOY, beat analysts’ consensus estimate by 110 basis points. COVID-19 had a negative impact on all units and regions causing a 5.8% decline in its gas and services business, which accounted for 96% of Air Liquide’s total sales, dragging total revenue down. Net profits for the second quarter have not been announced.