Overall, all Gas & Services activities progressed in the first half on a comparable basis, with the exception of Industrial Merchant, which remained contrasted:
1. Large Industries revenue, sharply up +6.2%, saw growth in all geographic zones. It benefited from the ramp-up of our production units, especially in Germany, Eastern Europe, North and South America, and China. The contribution of the two hydrogen production units on the Yanbu site, which started up in Q2 2015, remained significant this half, especially in Q1. In the US, growth accelerated in Q2 thanks to the start-up of a new air separation unit, while in China volumes remained high throughout the first half of 2016.
2. Industrial Merchant, down by -1.6%, remained contrasted. However, a slight improvement was noted in Q2. Sales in Europe, positive this first half, were up +2.7% for the second quarter, due mainly to higher bulk volumes. In North America, market segments related to energy and metal fabrication are still affected by weak demand for oil services and related industries, while the Agri-Food, Pharmaceutical, and Research markets are growing. This market dynamic is the same for Airgas, whose gas sales were slightly up in the first half. The situation is also contrasted in Asia Pacific, with sales down in Japan while volumes are rising sharply in China. The overall price effect remains modest at +0.4% against a global backdrop of low inflation.
3. Electronics continued to post robust growth of +11.2%, driven by strong demand for equipment and installations and advanced materials sales, which rose by more than +25%. Activity was particularly strong in Asia Pacific, with double-digit growth in Japan, China, and Singapore.
4. Healthcare, up by +4.8%, benefited from sustained high demand for home healthcare services, from dynamic hygiene sales, which rose by +19%, and from its expansion in the developing economies, Brazil and Argentina in particular. Including the contribution of Airgas via its sales of medical gases to hospitals, global Healthcare revenue in the second quarter was up +11.5%, excluding the currency impact.
We provide industrial gases, medical gases. If you need, welcome to consult us.
