Air Liquide Reports 9.6% H1 Profit Rise, Confirms Margin Growth Plans

French industrial gases group Air Liquide reported a 7.2% increase in first-half 2025 net profit to €1.8 billion, with recurring net profit rising 9.6% to €1.84 billion excluding currency impacts. Group revenue grew 1.8% on a comparable basis to €13.72 billion, supported by a favorable energy effect but offset by negative currency effects. The company recorded an operating margin of 19.9%, up 100 basis points excluding energy impacts, and confirmed its goal to increase operating margin by 200 basis points by the end of 2026. CEO François Jackow emphasized the group's reliance on diversified growth engines, especially in electronics and energy transition sectors, amid market uncertainty. Air Liquide highlighted a record project portfolio of €4.6 billion and stable investment opportunities of €4.1 billion over 12 months. The company reaffirmed its commitment to further improving operating margin and delivering recurring net profit growth at constant exchange rates in 2025.