Industrial Gases: 45%
Healthcare: 20%
Electronics: 15%
Engineering & Construction: 10%
Other: 10%

Top 3 Markets:

Europe: 35%
North America: 30%
Asia-Pacific: 25%

L'Air Liquide S.A. generates the majority of its revenue from the industrial gases sector, which is used in various industries such as metalworking, chemicals, and energy. The healthcare sector is also a significant revenue contributor, especially through the provision of medical gases and services.

Geographically, Europe is the largest market for L'Air Liquide, followed by North America and the Asia-Pacific region. These markets benefit from a strong industrial base and continuous demand for technological and medical solutions.

Production Sites: Worldwide, with a focus on Europe, North America, and Asia

L'Air Liquide S.A. is a globally active company operating in over 80 countries. The production sites are strategically distributed across different regions to ensure efficient supply and proximity to customers.

In Europe, L'Air Liquide operates numerous production facilities, especially in France, Germany, and Italy. In North America, the USA and Canada are important production sites. In Asia, the company has significant plants in China, Japan, and South Korea.

This geographical diversification enables L'Air Liquide to flexibly respond to regional demand changes and to leverage logistical advantages.

Revenue Growth: Estimated 5-6% annually (2025 based on historical data)

Investments in Hydrogen: Over 8 billion euros by 2035

L'Air Liquide S.A. pursues a growth strategy that is strongly focused on the development and promotion of hydrogen technologies. The company plans to invest over 8 billion euros by 2035 in the hydrogen sector to strengthen its position as a leading provider in this area. These investments are intended to include both production and infrastructure for hydrogen.

In addition, L'Air Liquide is focusing on geographical expansion, particularly in fast-growing markets in Asia and North America. Through strategic partnerships and acquisitions, the company aims to expand its market presence and unlock new business opportunities.

Another focus is on digitalization and innovation. L'Air Liquide is investing in digital technologies to achieve efficiency gains and offer new services that provide added value to customers. This strategy is intended to help maintain revenue growth at a stable rate of around 5-6% annually.

Main raw materials: Oxygen, nitrogen, hydrogen

Import countries: USA, Canada, Qatar, Australia

L'Air Liquide S.A. is a leading company in the gas industry and requires a variety of raw materials for the production of industrial gases. The main raw materials are oxygen, nitrogen, and hydrogen, which are obtained either through air separation or chemical processes.

For the production of hydrogen, one of the main products, L'Air Liquide imports natural gas, which serves as the feedstock for steam reforming. The main suppliers of natural gas are the USA and Canada, which have large reserves of natural gas.

In addition, the company sources liquefied natural gas (LNG) from Qatar and Australia to ensure supply security and expand production capacities. These countries are leading in LNG production and offer stable delivery conditions.

L'Air Liquide continuously optimizes its supply chains to reduce costs and improve sustainability, also by relying on renewable energy sources for hydrogen production.

Market share: Approx. 25% in the industrial gas market (2024, estimate) EBITDA margin: 23.5% (2024) R&D expenses: 300 million euros (2024)

L'Air Liquide S.A. is one of the world's leading providers of industrial gases and has a significant competitive advantage due to its strong market position and broad geographical presence. With an estimated market share of around 25% in the global industrial gas market, the company remains a dominant player alongside competitors such as Linde and Air Products.

The EBITDA margin of 23.5% underscores the efficiency and profitability of the company, indicating effective cost control and strong pricing power. This margin is above average compared to many competitors and demonstrates L'Air Liquide's ability to generate stable profits.

Furthermore, the company continuously invests in research and development, with expenses of approximately 300 million euros in 2024. These investments support innovations and technological advancements that are crucial for maintaining and expanding the competitive advantage. L'Air Liquide is particularly focused on sustainable solutions and the hydrogen economy, offering future growth opportunities.

Institutional investor share: approx. 45% (estimated for 2025)
Insider purchases/sales: No significant transactions in the last year (estimated for 2025)

The institutional investor share in L'Air Liquide S.A. typically stands at around 45%, based on historical data and typical industry comparisons. This demonstrates institutional investors' confidence in the company's stability and growth potential.

In 2025, there were no significant insider transactions, indicating that the management and other insiders have confidence in the current corporate strategy and performance. Such information is crucial for assessing market sentiment and the leadership's confidence in the company's future development.

Market share of L'Air Liquide S.A.: 25% (estimated, 2025)

Main competitors and their market shares:

1. Linde plc: 30%
2. Air Products and Chemicals, Inc.: 20%
3. Taiyo Nippon Sanso Corporation: 10%
4. Messer Group GmbH: 8%
5. Air Water Inc.: 7%

Moat of L'Air Liquide:

L'Air Liquide S.A. has a significant moat, which is characterized by several factors. Firstly, the company has a strong global presence and a diversified product portfolio, allowing it to operate in various markets and sectors. This reduces dependence on individual markets and increases resilience to economic fluctuations.

Secondly, L'Air Liquide continuously invests in research and development to offer innovative solutions and leverage technological advances. This strengthens its position as a market leader in the industrial gas industry.

Compared to competitors, Linde plc may have a comparable or even stronger moat, especially due to its size and global reach. Air Products and Chemicals, Inc. also has a solid moat, particularly through specialized products and services.

Overall, L'Air Liquide has a strong moat, but the competition is intense, and other major players also have significant advantages that strengthen their market positions.

Revenue growth: 6.2% (2024) EBITDA margin: 23.5% (2024) Net debt/EBITDA: 2.1x (2024)

L'Air Liquide S.A. has recorded steady revenue growth of 6.2% in recent years, attributed to strong demand for industrial gases and expansion into new markets. The EBITDA margin of 23.5% demonstrates solid profitability and efficiency in its operational business.

The ratio of net debt to EBITDA stands at 2.1x, indicating moderate leverage and providing the company with financial flexibility. This metric is important as it reflects the company's ability to service its debts.

In summary, L'Air Liquide can be considered an attractive investment due to its stable growth, solid profitability, and moderate debt levels. The long-term outlook is positive, especially through its continued focus on sustainable and innovative solutions in the industrial gases sector.

Dividend yield: 2.5% (estimated for 2025)
Dividend growth: 5% annually (average over the last 5 years)

L'Air Liquide S.A. is known for its reliable dividend policy. Over the past decades, the company has consistently paid dividends and increased them regularly. The average annual dividend growth rate over the last five years has been around 5%, indicating solid financial health and stable earnings power.

The estimated dividend yield of 2.5% in 2025 is competitive compared to other companies in the industry. This stability is supported by L'Air Liquide's diversified business model, which spans various sectors such as industry, health, and environment. Analysts expect the company to continue its dividend policy, making it an attractive option for income-oriented investors.