Air Liquide unveils BEYOND strategic plan and 4 billion euro buyback

Air Liquide has unveiled its ‘BEYOND’ strategic plan, targeting significant financial and operational growth through 2030. Key components of the plan include a goal to improve operating margins by 400 to 600 basis points and an announcement of the company’s first large-scale share buyback program, valued at approximately 4 billion euros for 2027 and 2028.

The company aims for annual revenue growth of 5% and earnings per share (EPS) growth of 10% through 2030. Growth drivers identified include artificial intelligence, electronics, healthcare, space, and the energy transition. This strategic shift is viewed as an effort to close the margin and valuation gap with its competitor, Linde plc.

Elliott Investment Management, which holds a significant economic interest in Air Liquide, issued a statement welcoming the initiatives. Elliott described the targets as a ‘positive first step’ and expressed support for the value-creating measures, while looking forward to continued dialogue to enhance long-term shareholder value.