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    Andrew Gregory Stott

    Research Analyst at UBS

    Andrew Gregory Stott is a Research Analyst at UBS, specializing in the coverage of industrial and chemicals companies, with a noted focus on firms such as Air Liquide SA. He has contributed to company earnings calls and is recognized for his analytical insights on sector developments. Prior to joining UBS in 2016, Stott worked as a Research Analyst at Merrill Lynch International from 2010 to 2016, developing expertise in European equity research. His credentials include advanced knowledge of financial markets and industry research, though specific securities licenses or FINRA registrations are not publicly detailed.

    Andrew Gregory Stott's questions to L AIR LIQUIDE SA /FI (AIQUY) leadership

    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.

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