At Air Liquide’s investor day the company provided a detailed statement outlining how the business has performed in the past and predicted how it will up until 2020.
Over the 2011-2015 period, the group expects average annual growth in revenues of +5% to +7%, adjusted for currency impacts, outperforming the average annual growth forecast for the industrial gases market by +1% to +2%. Over this same period, Air Liquide is committed to generating substantial cumulative efficiencies, an objective increased at the beginning of the year by +30%, to €1.3bn, as well as to pursuing its adjustment programs thus reinforcing its competitiveness.
This sound management approach is being accompanied by the rollout between 2011 and 2015 of an investment program worth €12bn, already mostly committed, designed to lay the groundwork for medium-term growth.
Looking towards 2020, Air Liquide will continue to capitalise on the strength of its core business and its financial structure, as well as on development initiatives intending to achieve average annual revenue growth of between +6% and +9%, excluding currency impacts, outperforming the industrial gases market’s expected growth beyond 2015, and a return on capital employed (ROCE) of 11% to 13%.
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