Industrial gas giant’s profit soared in the first quarter

Thanks to the strong growth in end-market demand for chemicals, electronics, manufacturing and metal materials, the global industrial gas giant recently delivered a satisfactory first-quarter earnings report.

Air Liquide's sales revenue in the first quarter increased by 12% year-on-year to 3.5 billion euros ($5.1 billion). The company’s industrial gas and service division achieved sales revenue growth of 11% year-on-year to 3.2 billion euros, of which sales revenue from advanced economies increased by 8% year-on-year, while sales revenue from developing regions soared by 30% year-on-year.

Praxair's first-quarter net profit rose 17% year-on-year to $398 million; sales revenue rose 11% year-on-year to $2.7 billion. Sales revenues in all areas of the company have increased, and profit growth is mainly due to the increase in both sales volume and sales price as well as increased productivity. Pratt & Company chief executive Steve Angel said: “In the first quarter, emerging markets led by South America and Asia saw double-digit growth, and North American business was also supported by the steady recovery of the US economy.” Praxair The profit target for this year has been raised from $5.25 to $5.40 per share to $5.35 to $5.45 per share. Angel said: "There are still many opportunities for new projects. In the first quarter we signed new industrial gas supply agreements in almost all major markets. This part of the orders means that the company will invest more than $500 million."

German industrial gas giant Linde realized profit after tax rose 42% in the first quarter to 303 million euros, sales revenue rose 15% year-on-year to 3.3 billion euros, operating profit rose 19% year-on-year to 761 million euros. In the first quarter, Linde’s industrial gas division’s operating profit increased by 16% year-on-year to 727 million euros, and sales revenue increased by 14% year-on-year to 2.7 billion euros. Linde said that these figures reflect the global economic recovery in the first quarter, especially in emerging markets. Linde’s engineering division’s first-quarter operating profit rose 22% year-on-year to 62 million euros, and sales revenue rose 14% year-on-year to 591 million euros.