When tech makes an impact
The world is transforming, reshaped by new economic dynamics and the rise of artificial intelligence, which is altering the ways we produce, learn and make decisions. In this context, Air Liquide moves forward with a clear conviction: technological innovation is a lever for sustainable growth.
In a fragmented world, the power of an adaptable model
“Beyond its success, ADVANCE has above all demonstrated that it is possible to reconcile performance with a positive contribution to the world.
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Benoît Potier
Chairman of the Board of Directors, Air Liquide
“Innovation is the best antidote to uncertainty.
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François Jackow
Chief Executive Officer, Air Liquide
In 2025, a record performance driving renewed ambition
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~€27bn Group revenue
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€4.9bn Investment backlog
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-13% CO₂ emissions vs 2020
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20.7% Operating margin
+100 bps improvement1
“All our environmental objectives have been met or exceeded.
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Diana Schillag
Group General Secretary overseeing Healthcare activity, Sustainability as well as General Control, Air Liquide Executive Committee member
“Our strong balance sheet gives us the means to be ambitious.
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Jérôme Pelletan
Chief Financial Officer, Air Liquide Executive Committee member
From lab to plant: Innovation across industries & geographies
Turning vision into industrial reality through innovation
Innovation at Air Liquide is measured by the impact it delivers. We start off with an idea, which we shape into a concrete, useful solution that we then deploy at scale with and for our customers. Our committed teams—from our R&D units to those working in our plants—drive this approach, built around a targeted and dynamic innovation portfolio. We also leverage artificial intelligence (AI) and data, which support us in consolidating our knowledge, enhancing our expertise, and shortening the path from exploration to industrialization.
Scaling low-carbon solutions and essential services across EAMEI
Europe, Africa, Middle East and India (EAMEI) is a contrasting crossroads between industrial maturity and high-growth potential. While Europe’s industrial landscape is being reshaped, it remains a major consumers’ market as well as a technological leader defining global standards, notably for the energy transition. Simultaneously, India, the third largest economy by 2030, is emerging as a major growth driver for Air Liquide, driven by robust industrial demand. Its Index of Industrial Production growth rate was 7.8% in December 2025, the highest level in more than two years. The Middle East and Africa are experiencing rapid growth, benefiting from economic diversification, infrastructure development, and evolving industrial and energy sectors.
Asia-Pacific: anchoring growth with local capabilities and proven execution
In Asia-Pacific, Air Liquide operates at the heart of the global technology race and amid the most dynamic industrial reconfigurations. South Korea, Singapore and China are competing for leadership in advanced manufacturing, while reshoring and de-risking strategies are reshaping where and how critical materials are produced. The Group is strengthening its positions through new plants and long-term contracts, while also deepening execution capabilities through engineering expertise and targeted portfolio expansion.
The Americas: building scale, resilience, and sustainable growth
Across the Americas, Air Liquide is combining large-scale industrial investments with targeted innovation to meet evolving manufacturing and energy needs. From supporting the semiconductor sector in North America to advancing technologies in Latin America, the Group is strengthening its position as a strategic partner to the industry.
Our shareholders, partners in performance
"At Air Liquide, the structure of our shareholder base is a major asset. It is built on a unique complementarity between our institutional investors, who bring financial strength, international diversity and high standards in governance and sustainability, and our individual shareholders, the long-standing pillars of our shareholder stability."
Aude Rodriguez, VP Head of Investor Relations at Air Liquide
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The trust of our 970,000 individual shareholders is at the heart of our model. Keeping this dialogue alive and supporting our shareholders over the long term are our everyday commitments.
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Air Liquide was my very first stock, and that's no coincidence. I'm convinced I'm investing in a company that is solid, built for the long term, and has been able to reinvent itself. Air Liquide is also a company that is aligned with my values, and one where I feel valued as a shareholder.
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Air Liquide is a well-managed company with values I share, positioned on future-defining technologies like hydrogen. I've also followed the development of projects internationally, particularly in South Korea. I invest for the long term.
Leading with intent: How we lead, how we commit
"Air Liquide’s key strength is its combination of a long-term industrial model with a truly global footprint. Europe remains a central key pillar in the global economic balances, and the Group’s European roots provide a strong anchor. At the same time, its presence in the USA and in Asia is a decisive advantage: it enables Air Liquide to maintain its growth trajectory despite the dynamics of regionalization and the new realities of a global industry that is reorganizing itself."
Christina Law, Independant Director, Member of the Remuneration Committee and the Environment and Society Committee