Air Liquide Launches BEYOND Strategy and €4 Billion Buyback

Air Liquide launched its BEYOND strategic plan on Monday, outlining a growth trajectory through 2030 that includes the company's first-ever share buyback program. The program is valued at €4 billion and will be executed during the 2027-2028 period.

The French industrial gases group aims for a compound annual growth of approximately 10% in recurring net earnings per share from the end of 2025 to 2030, with a target recurring return on capital employed exceeding 11% by 2030. To support these objectives, the company will allocate more than €40 billion toward dividends, buybacks, acquisitions, and investments, with €24 billion dedicated specifically to industrial investments.

Air Liquide identified four priority markets for its expansion: healthcare, space, energy transition, and electronics and artificial intelligence. The company also reaffirmed its environmental targets, committing to carbon neutrality by 2050 and a 33% reduction in Scope 1 and 2 carbon dioxide emissions by 2035 relative to 2020 levels.