April 24, 2020 / 5:50 AM / a month ago

BRIEF-Air Liquide Q1 Total Revenue Down At EUR 5.37 Billion

April 24 (Reuters) -

* SPREAD OF COVID-19 HAS LED TO DECREASE IN NUMBER OF NEW PROJECTS ENTERING PORTFOLIO, AS WELL AS TO SEVERAL PROJECTS BEING DELAYED BEYOND NEXT 12 MONTHSRES

* ON COVID-19: ONCE CONTAINMENT PERIOD IS OVER, PROGRESSIVE RECOVERY IS EXPECTED, PARTICULARLY DRIVEN BY CONSUMPTION MARKETS, ELECTRONICS AND HEALTHCARE

* DUE TO SPREAD OF COVID-19 AND BASED ON INFORMATION AVAILABLE AT END OF Q1, AROUND 25% OF STARTUPS INITIALLY SCHEDULED FOR 2020 ARE VERY LIKELY TO BE DELAYED BY TWO TO SIX MONTHS

* Q1 TOTAL REVENUE EUR 5.37 BILLION VERSUS EUR 5.44 BILLION YEAR AGO

* DUE TO COVID-19: ADDITIONAL START-UPS’ CONTRIBUTION TO SALES EXPECTED FOR 2020 SHOULD RANGE BETWEEN EUR 150 MILLION AND 180 MILLION EUROS, AMOUNT WHICH IS LOWER THAN 230 MILLION EUROS CONTRIBUTION INITIALLY FORECAST

* END-Q1 CASH-FLOW FROM OPERATING ACTIVITIES BEFORE CHANGES IN WORKING CAPITAL REQUIREMENTS EUR 1.20 BILLION

* Q1 INDUSTRIAL AND FINANCIAL INVESTMENT DECISIONS EUR 673 MILLION, UP 40 %

* OUTLOOK 2020: CO IS CONFIDENT IN ABILITY TO FURTHER INCREASE OPERATING MARGIN AT CONSTANT EXCHANGE RATES

* OUTLOOK 2020: CO IS CONFIDENT IN ABILITY TO DELIVER NET PROFIT CLOSE TO 2019 LEVEL AT CONSTANT EXCHANGE RATES

* 2020 NET PROFIT AS PUBLISHED SHOULD INCREASE PROVIDED THAT SCHÜLKE DIVESTITURE PROJECT IS COMPLETED WITHIN THE YEAR

* AIR LIQUIDE - END-2020 12-MONTH PORTFOLIO OF INVESTMENT OPPORTUNITIES AT EUR 2.7 BILLION VERSUS EUR 2.9 BILLION AT END-2019

* FOR Q2 DEMAND FOR AIR GASES IN LARGE INDUSTRIES SHOULD WEAKEN IN STEEL SECTOR, AND TO LESSER EXTENT, IN CHEMICALS SECTOR

* 2020 RECURRING NET PROFIT, MEANING EXCLUDING GAIN FROM SCHÜLKE DIVESTITURE AND EXCEPTIONAL AND SIGNIFICANT ITEMS, SHOULD BE CLOSE TO 2019 RECURRING NET PROFIT AT CONSTANT EXCHANGE RATES

* ON COVID-19: SECOND QUARTER WILL BE HIGHLY IMPACTED BY THE CRISIS - CEO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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