PARIS (dpa-AFX) - Air Liquide SA (AIQUY.PK) reported that its first-quarter Group revenue reached 5.01 billion euros, up 6.0% on a comparable basis and down 3.2% on a reported basis compared with a year ago.
On a reported basis, Group revenue decreased compared with the year-ago period due to a strong negative currency impact of 8.2 percent, a scope effect of negative 0.7 percent, and a slightly negative energy impact or 0.3 percent.
First-quarter sales in Gas & Services, which amounted to 4.83 billion euros, rose 5.0% on a comparable basis and declined 4.3% on a reported basis, due primarily to the negative currency impact and a scope impact.
Benoît Potier, Chairman and CEO of Air Liquide, said, 'For the first three months of this year, revenue growth was very solid on a comparable basis. It accelerated compared with the previous quarters in a more favorable economic environment. The activity level in terms of new customers' projects was also higher.'
Looking ahead, Air Liquide said that assuming a comparable environment, it is confident in its ability to deliver net profit growth in 2018, calculated at constant exchange rate and excluding 2017 exceptionals.
The company also said it is pursuing its efforts to reinforce competitiveness and generated operational efficiency gains of 79 million euros. The cost and sales synergies linked to the acquisition of Airgas also continued during the first quarter of 2018, reaching a cumulative total since the acquisition of $237 million.
Copyright RTT News/dpa-AFX