China, medical oxygen drive Air Liquide Q1 sales beat
Reuters
Published Apr 23, 2021 06:31
Updated Apr 23, 2021 07:10
(Reuters) -French industrial gas company Air Liquide (PA:AIRP) posted better-than-expected first-quarter sales on Friday, driven by high medical oxygen demand caused by the global coronavirus pandemic and a strong rebound in China.
"In a global health context that still differs from region to region, the group remains committed to supplying healthcare facilities with medical oxygen," Air Liquide's chief executive, Benoit Potier, said in a statement.
Air Liquide, which supplies gases such as oxygen, nitrogen and hydrogen to factories and hospitals, saw healthcare sales jump 10% in the first three months of the year.
The group saw sales in China rise nearly 13% as it benefited from a sharp rise, notably in the industrial sectors.
In the Americas, the firm saw exceptionally high medical oxygen sales and a gradual resumption of non-emergency surgery, while in Europe, still-high sales of medical equipment were gradually normalising, compared to 2020.
The group confirmed its 2021 outlook, further increasing its operating margin and recurring net profit at constant exchange rates, assuming limited local lockdowns in the year's first half, followed by recovery in the second half.
It reported quarterly sales of 5.33 billion euros ($6.41 billion), up 3.8% on a comparable basis and topping analysts' forecast of 5.25 billion euros.
Over 2020, Air Liquide had ramped up its production of intensive care ventilators and oxygen tanks, to meet surging demand from hospitals and home healthcare facilities.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.