Report
Fabian Semon ...
  • Michael B. Schäfer

Air Liquide : Site visit feedback - Air Liquide can bank on a broad innovations pipeline

>Innovation driven business model pays off, ~50% of GM&T=technologies driven - We came away with a positive impression after our site visit to Air Liquide's innovation centre in Grenoble where the group spent € 308m on innovations in FY 2022, 33% of which related to climate solutions (i.e. R&D as % of sales: 0.7% vs. 0.4% at LIN). Air Liquide revealed the split of its GM&T segment with technologies, like H2 technologies and cryogenic equipment, accounting for ~50% of ...
Underlying
Air Liquide SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Fabian Semon

Michael B. Schäfer

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