Air Liquide

Air Liquide reported a 10% rise in third-quarter revenue to €7.26 billion, driven by strong demand for gases for AI semiconductors and good trading activity; like-for-like adjusted growth was 3.0%. Management confirmed targets to improve margins and earnings for 2026 and 2027 (each a +1 percentage point operating margin) and the goal to raise profitability by 5.6 percentage points from 2022–2027. Cost-saving measures delivered €143 million in Q3 savings (€441 million to end-September) and the company is launching the first tranche of a share buyback of €4 billion planned through end-2028. » Mere på finanzen.net

Air Liquide reports a 10 percent sales increase in the third quarter to €7.26 billion, driven by strong demand for gases for AI semiconductors and solid trading activity. Adjusted for currency, energy and portfolio effects, revenue grew organically by 3.0 percent, with particular strength in Asia-Pacific and the Americas. Management confirms its targets for 2026 and 2027, aims to raise the operating margin by one percentage point in each year, and is implementing cost savings, higher investments and a share buyback of €4 billion planned through the end of 2028. » Mere på finanzen.net

Air Liquide will for the first time repurchase shares worth €4 billion over the next two years. By 2030 the group aims for average annual growth in recurring earnings per share of 10% and an adjusted return on invested capital of more than 11%. The group targets mid-term revenue growth of around 5% per year and an operating margin improvement of 4–6 percentage points at constant energy prices. Over €40 billion of investments are planned by 2030, with more than half to be allocated to higher investment and acquisitions and the remainder to buybacks and rising dividends. » Mere på finanzen.net

Elliott Investment Management has built a stake in Air Liquide and is pushing for higher operating margins. The shares rose as much as 4.2% after reports of the engagement. Elliott points to the margin gap with Linde (around 21% at Air Liquide vs. around 30% at Linde) and calls for faster efficiency gains, while Air Liquide is simultaneously making heavy investments in growth, notably in its electronics business. CEO François Jackow confirms targets to raise margins for 2026 and 2027; management is already delivering efficiency measures, but more slowly than the activist demands. » Mere på deraktionaer.de

Paul Singer's hedge fund Elliott has built a stake in Air Liquide, according to insiders, and has pushed in talks to close the gap in profit margins with rival Linde. The stock then rose nearly 3 percent. Analysts see room for measures such as share buybacks and are calling for more transparency on the electronics division's growth potential for AI chips. » Mere på manager-magazin.de