Air Liquide hit by profit-taking despite DZ Bank support
Following three consecutive winning sessions that saw the stock climb 3.89%, Air Liquide shares are trading lower (-0.83% at 165.36 euros), despite a positive note from DZ Bank.
The German bank welcomed the group's continued tradition of bonus share issues, on the basis of one new share for every ten held. Furthermore, long-term shareholders registered for more than two years will benefit from a 10% loyalty bonus, equivalent to one additional free share for every hundred shares held.
DZ Bank also highlighted the major contract signed by the French industrial and medical gas specialist in South Korea. Air Liquide is set to build and operate a high-purity nitrogen production plant there for 200 million euros, with commissioning expected in late 2027.
According to analysts, several factors will support the stock in the short term. On one hand, the current geopolitical conflict is generating a shift in activity and an increase in the utilization rate of chemical and refining infrastructure in the United States, opening up new volume prospects. On the other hand, the negative base effect is expected to fade as early as the second quarter in the Electronics segment. Finally, experts point to the anticipated 200 basis point expansion in operating margin by 2027, driven by structural productivity gains.
L'Air Liquide is one of the world leaders in industrial and medical gas production. Net sales break down by activity as follows:
- industrial and medical gases production (96.8%): oxygen, nitrogen, hydrogen, synthesized gases. The group also supplies control equipment and services for fluid systems, gas and liquid chemical management, home care and hospital hygiene services, and operating room equipment. Net sales break down by market as follows: industries (73.8%), healthcare (16.8%) and electronics (9.4%);
- other (3.2%): engineering activities related to gas production plant construction and high-tech product manufacturing.
Net sales are distributed geographically as follows: France (12.1%), Europe/Middle East/Africa (29.3%), the United States (33.4%), Americas (5.7%) and Asia/Pacific (19.5%).
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