Air Liquide : Q3 preview - Continuation of trends we saw in Q2: LI (=), IM (=), EC (-), HC (+), leading to expected Q3 2023 group comparable sales growth of 3% y-o-y
>Still no recovery in LI – We forecast -3% y-o-y comparable sales growth in Q3 2023 - Backed by actual chemicals and steel supply/demand indicators, we do not expect a meaningful recovery of volumes in LI in Q3 2023 (ODDO BHFe: -3% comparable sales growth in Q3 2023 vs. -4% in Q2 2023), after the trough in Q4 2022. Last year (Q3 2022), AI reported comparable sales growth of -10% in LI, however this figure included a meaningful negative combined effect of ~-8% (mathem...L'Air Liquide is engaged in the market of gases for industry, health and the environment. Oxygen, nitrogen, hydrogen, and rare gases make up Co.'s core activities. Co. structures its activities in three segments: Gas and Services, Engineering and Technology, and Other activities. The Gas and Services segment comprises four business lines: Industrial Merchant, Large Industries, Healthcare and Electronics; Engineering and Technology designs, develops and builds industrial gas production plants for Co. and third parties; and the Other Activities segment develops welding and cutting edge technologies, and markets deep-sea diving and swimming equipment to professionals and privates individuals.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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