Air Liquide has set a goal of achieving a 5% compound annual sales growth rate.

The company stated that more than half of its capital budget before 2030 will be allocated to industrial investments and strategic acquisitions.

The industrial gas company announced on Monday that, based on a 2025 net earnings per share of 6.1 euros, it aims to achieve a 10% compound annual growth rate in net earnings per share over the planning period.

According to the company, this target will be driven by a 5% compound annual revenue growth rate and a margin improvement of 400-600 basis points, while also setting a return on recurring capital employed above 11% by 2030.

In addition to increasing dividends, Air Liquide announced it will implement a share buyback program of 4 billion euros (equivalent to 4.5 billion US dollars) in 2027-2028.

The company revealed that its total capital budget before 2030 exceeds 40 billion euros, with more than half specifically dedicated to industrial investments and strategic mergers and acquisitions.

Background Brief

Air Liquide is a leading global industrial gas manufacturer, with operations spanning sectors such as hydrogen energy and specialty gases for semiconductors.

This 2030 strategy clearly defines quantitative targets for revenue, profit, and return on capital, simultaneously increasing investments in industry and acquisitions while rewarding shareholders through dividends and buybacks.