Europe 2013 english

Europe 2013

 

Revenue in Europe totaled 7,058 million euros, up +1.0%. Oxygen volumes increased throughout the region, particularly in Northern and Eastern Europe, while demand for hydrogen remained stable. The region continues to benefit from the momentum of developing economies, which were up +28% thanks to ramp-ups and site takeovers in Russia, Turkey and Ukraine, and to a steadily growing Healthcare business, boosted by bolt-on acquisitions in Poland and Scandinavia. Activity was almost stable in Western Europe.

Large Industries revenue was virtually stable at -0.1%. Sustained demand in the chemicals and refining sectors, from north to south of the region,and improved demand from the metals sector at the end of the year offset the decline in volumes of steam and electricity delivered by cogeneration plants. Expansion in the major industrial countries of Eastern Europe has produced results: Large Industries revenue rose by over +30% due to startups in Russia and site takeovers in Turkey and Ukraine.

·Industrial Merchant sales were up +0.3%. Double-digit growth continued in developing economies due to new facilities, local acquisitions of distributors and strong demand. However, in advanced economies, business suffered from the continuing difficult economic environment, particularly in Southern Europe where activity is continuing to fall, albeit at a slower rate towards the end of the year. The price impact was positive over the year, up +0.5%, with an improvement in the last quarter.

· Healthcare is continuing to expand with growth of +4.2%, or +11.1% integrating the ongoing effect of the acquisitions in 2012 of LVL Médical in France and Gasmedi in Spain, and from December 2013 the sale of Anios. Excluding the acquisitions of LVL Médical and Gasmedi, Home Healthcare grew by +7.8%, driven by continuous growth in demand, small acquisitions in Poland, Germany and Scandinavia and expansion of the portfolio of therapies treated. Tariff pressure remained strong, especially in Spain. In hospitals, this budgetary pressure also affected medical gas volumes in France and Southern Europe. In prevention and well-being, the Hygiene activity continued to develop regularly due to strong demand, resulting in growth of +7.8%. Specialty ingredients posted revenue growth of +2.7%, and grew particularly in the fourth quarter.

Electronics revenue was down -8.7%, marked by a sharp downturn in Equipment and Insta· llations sales. Carrier and specialty gas sales were also down due to the weakness of activity in Europe and the progressive transfer to Asia.