Industrial Gas Reports
Q4, 2008 - Quarterly Report on Global Industrial Gases
The Quarterly Report provides unparalleled insight from long-standing industrial gas experts at Spiritus and is an established reference point for industrial gas producers and consumers, financial institutions, and equipment and service providers. It enhances the quality of executive decision-making for those focusing on the industrial gases sector.
The Quarterly Report on Global Industrial Gases compares the financial and operating performance of the major Tier 1 global players (Linde, Air Products, Praxair, Air Liquide, Airgas, Taiyo Nippon Sanso), and explains why the Industrial Gas sector continues to deliver robust performance.
The sector's defensive qualities are underpinned by the extent of consolidation in the industry and by the structure of its commercial contracts. These contracts often feature 'energy pass-through' and 'take-or-pay' clauses, which effectively secure investment returns. The nuances of differing contractual terms are described in the Report, together with listings of future projects.
Four issues of the Spiritus Quarterly Report on Global Industrial Gases are emailed to subscribers in PDF format over a 12-month period. The subscription price for the four quarters covered by this Report (Q4,2008 through Q3,2009) is £1,950 / €2,400 / US$2,900 per single site licence (i.e. one office). For distribution to multiple offices, the subscription price will be £3,900 / €4,800 / US$5,800.
REPORT STRUCTURE
CONTENTS
- Market Summary
- Market Outlook
- Corporate Activity
- Financial Analysis
- Comparative Performance Summary between 6 Global Majors:
• Revenue
• EBIT
• ROCE
• Stock Price - Company Analysis:
• Tier 1 (Linde, Air Products, Praxair, Air Liquide, Airgas, TNSC)
• Tier 2 (Messer, SOL, SIAD, Iwatani, Indura, CryoInfra, Air Water) - Market Trends
- Product Feature
- Project Listing
- Financial Calendar
- Glossary
For More Information
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...or don't hesitate to phone us on: +44 (0) 1872 225 242
Sample Data
SUMMARY OF GLOBAL TIER 1 GAS COMPANIES (GASES ONLY)(Calendar Q4 2008 v Q4 2007)
| Financial Metric | Air Liquide | Praxair | Air Products | Linde | TNSC | Airgas | Peer Group Avg. |
| Revenue Growth (% change) |
+1*.4% | -5.1% | -**.5% | flat | -4.9% | +7% | +*.1% |
| Underlying growth (% change) |
+*.9% | +1.3% | -5.2% | +1.4% | -2.1% | +1% | +*.3% |
| EBIT Margin | **.7% | **.9%¹ | **.8%² | 1*.2% | *% | 1*.7% | **.4%³ |
| Change in EBIT Margin (basis point change) |
+60 | +180¹ | -70² | -110 | -240 | +40 | flat³ |
| ROCE | *5.5% | **.9%¹ | *6.6%² | 8.9% | *.*1% | *.9% | 1*.5%³ |
| ROCE (% change) |
+60 | +190¹ | -180² | -20 | -310 | -80 | flat³ |
¹ If including effects of restructuring charge: **.1% for EBIT margin (-600 basis points YoY), 12.5% for ROCE (-550 basis points YoY).
² If including effects of restructuring charge: *.4% for EBIT margin (-910 basis points YoY), 7.8% for ROCE (-1,060 basis points YoY).
³ If including effects of restructuring charges for *******r and ****: **.8% for EBIT margin (-*** basis points YoY), **.3% for ROCE (-*** basis points YoY).
