By Ed Frankl 
 

Air Liquide said Friday that third-quarter revenue topped expectations, supported by momentum in the electronics industry and continued recovery of its industrial merchant business.

Group revenue came to 5.83 billion euros ($6.78 billion) in the three months to the end of September, around 17% higher than EUR4.98 billion the previous year, the industrial-gases company said.

The result is slightly ahead of expectations of EUR5.78 billion, according to analysts' estimates provided by the company.

Revenue rose 7.1% on a comparable basis, the Paris-based company said.

Sales in its gas and services activities, which represents a large majority of the business, rose to EUR5.59 billion in the quarter from EUR4.78 billion last year, Air Liquide said. Electronics sales increased 6.6% in what the company called "a thriving market" with its industrial merchant business rising 7.5%.

Revenue in its healthcare division rose 14.5% through its involvement in providing medical oxygen during the pandemic, the company added.

Air Liquide said it continued to improve its operating margin, with efficiencies of EUR314 million in the first nine months, in line with its annual target of more than EUR400 million.

It said it is confident in further increasing its operating margin to deliver recurring net profit growth at constant exchange rates in 2021.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

October 22, 2021 02:08 ET (06:08 GMT)

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