French industrial gases company Air Liquide on Tuesday said it plans to at least triple its hydrogen turnover to reach more than 6 billion euros ($6.58 billion) by 2035, as it presented its new mid-term targets.
As one of the largest producers of hydrogen worldwide, Air Liquide expects to benefit from the energy transition’s acceleration and intends to invest around 8 billion euros in the low-carbon hydrogen supply chain by 2035, it said in a statement.
“Building the future (…) also means to act as a leader in decarbonisation of the industry,” Chief Executive Benoit Potier commented.
The company, which supplies gases such as oxygen, nitrogen and hydrogen to factories and hospitals, also sees sales to grow 5% to 6% on average per year up to 2025 and its operating margin by about 160 basis points over 4 years.
For 2022, sales growth guidance of 5-6% is slightly below the consensus pulled by the company at 6.2% on a comparable basis.
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