Andrew Gregory Stott's questions to L AIR LIQUIDE SA /FI (AIQUY) leadership • Q3 2020
Question
Andrew Gregory Stott inquired about the Sasol acquisition, seeking details on the ramp-up timeline to over €400 million in sales, its accounting treatment, and expected margins. He also asked if Healthcare's strong performance was due to one-offs or a change in outlook.
Answer
Executive VP François Jackow clarified that the full Sasol sales contribution will be realized after a step-change in 18-24 months, likely in 2023. CFO & Executive VP Fabienne Lecorvaisier confirmed it would be accounted for as scope, with higher margins during the initial tolling phase. On Healthcare, François Jackow attributed the Q3 strength to exceptional equipment sales, which will likely moderate, though home care is recovering and medical gas demand is rising again.