(Adds details on outlook in paragraphs 3-4 and 6, CEO quote in
paragraph 5, 2024 sales in paragraphs 7-8, dividend paragraph 9)
Feb 21 (Reuters) - French industrial gases supplier Air
Liquide AIRP.PA raised its medium-term operating margin
guidance and extended the target period by one year on Friday,
after its 2024 sales slightly beat market expectations.
It now expects the operating profit margin to rise by 460
basis points (bps), or 4.6 percentage points, between 2022 and
2026, compared with the previous goal of 320 bps rise until the
end of 2025.
The company, which supplies gases such as oxygen, nitrogen
and hydrogen to factories and hospitals, had last year doubled
the end-2025 target from the initially expected 160 bps rise.
Air Liquide said the operating margin, excluding energy
impact, had improved by 260 bps so far in the guidance period.
Last year's improvement alone was 110 bps on the same basis, it
added.
"We are continuing to prepare the future, with sources of
growth fueled by our record investment decisions in 2024,
reaching 4.4 billion euros ($4.6 billion)," CEO Francois Jackow
said in a statement.
The company again reiterated its guidance for average
revenue growth of 5% to 6% per year between 2022 and 2025. The
average comparable growth rate stood at 6.5% as of the end of
last year.
Air Liquide reported revenue of 27.06 billion euros for
2024, up 2.6% on a comparable basis, while its recurring
operating income margin rose to 19.9%.
Analysts polled by Vara Research were expecting annual sales
of 27.00 billion euros on average.
The Paris-listed group also said it would propose a dividend
of 3.30 euros per share for 2024, up 13.7% from what it paid out
last year.
($1 = 0.9533 euros)
(Reporting by Johan Bodinier and Antonis Pothitos in Gdansk;
Editing by Milla Nissi)
((johangeorgesroger.bodinier@thomsonreuters.com))
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