[PDF] Minutes Directors was attended by 3

View - Download Minutes

Previous PDF

Next PDF

Minutes

combined shareholders" Meeting of May 3, 2017

2AIR LIQUIDE MINUTES / Combined Shareholders" Meeting of May 3, 2017

www.airliquide.com

THANK YOU FOR YOUR

PARTICIPATION!

The Combined Shareholders" Meeting, chaired by Benoît Potier, Chairman and Chief Executive O cer, in the presence of the members of the Board of Directors, was attended by 3,874people, on May3, 2017, at the Palais des

Congrès in Paris.

Shareholders, representing 49.9% of voting rights, i.e., 131,121shareholders present or represented , or having voted by post, adopted all the proposed resolutions. A total of 193,132,074 votes were cast out of the 386,690,411 shares entitled to a voting right, one share being entitled to one vote.

26,500shareholders voted or requested an admission card by Internet

before the Meeting. The duties of scrutineers were carried out by Amundi, represented by MrCédric Laverie, and BNP Paribas Investment Partners, represented by MrMichaël Herskovich, the two members present at the Meeting having the largest number of votes and agreeing to act in this capacity. For a replay of the Meeting broadcast, consult our Internet website www.airliquide.com

Benoît Potier

Chairman and Chief Executive O cer

TABLE OF CONTENT

Photo credit

: guteksk7/Shutterstock.com

BOARD OF DIRECTORS

AND EXECUTIVE MANAGEMENT

3

VOTING RESULTS PER RESOLUTION 4

2016 FINANCIAL RESULTS AND

HIGHLIGHTS 5

AIRGAS 7

STRATEGY AND OUTLOOK 9

GOVERNANCE & REMUNERATION 13

DEBATE WITH SHAREHOLDERS 15

3MINUTES / Combined Shareholders" Meeting of May 3, 2017 AIR LIQUIDE

BoaRD oF DIREctoRs

AND EXECUTIVE MANAGEMENT

Benoît POTIERThierry PEUGEOTKaren KATENJean-Paul AGON

Chairman and Chief Executive

OcerDirectorIndependent DirectorIndependent DirectorLead Director Siân HERBERT-JONESPierre DUFOURSin LENG LOWAnnette WINKLER Independent DirectorDirectorIndependent DirectorIndependent Director Geneviève BERGERBrian GILVARYXavier HUILLARDPhilippe DUBRULLE Independent DirectorIndependent DirectorIndependent DirectorDirector representing the employees

N.B.: Independent Director within the meaning of the Board of Directors' internal regulations. For information regarding independence criteria, please refer to

the

2016 Reference Document.

ERNST& YOUNG et Autres

Represented by Jeanne BoilletPricewaterhouseCoopers AuditRepresented by Olivier Lotz

Joël Pierret

Patrick Recourt

Benoît Potier

Chairman and Chief Executive O cer

(a)

Born in 1957- FrenchGuy SalzgeberSenior Vice-PresidentExecutive Vice-President of the Frankfurt HubSurpervising Group ProcurementBorn in 1958- FrenchPascal VinetChief Executive O cer of AirgasBorn in 1962- French

François Darchis

Senior Vice

President

IDST (Innovation, Digital, Science&Technologies),

Supervising

Information Technologies,

Industrial Merchant World Business Line

Born in 1956- FrenchFabienne LecorvaisierChief Financial O cerFinance, Operations ControlBorn in 1962- French

François Jackow

Head of

Healthcare activities,

supervising the Dubai

Hub and Customers

Born in 1969- French

Jean-Marc de Royere

Senior Vice

President

International, Governance, Corporate Social

Responsibility

Chairman

of the Air Liquide Foundation Born in 1965- FrenchKwong Weng MokDeputy Head of AsiaBorn in 1953- Singaporean

François Venet

Head of

strategy, supervising the Large Industries business line and Engineering and Construction

Born in 1962- French

Michael J. Gra

Senior Vice

President

Executive Vice-President of the

Houston

Hub,

Vice-Chairman of the Board of Airgas, supervising

Electronic World Business Line, Safety and Industrial systems

Born in 1955- AmericanFrançois AbrialExecutive Vice-President of the Shanghai HubBorn in 1962- French

(a) Within the meaning of the French Commercial Code.

4AIR LIQUIDE MINUTES / Combined Shareholders" Meeting of May 3, 2017

VOTING RESULTS PER RESOLUTION

In favorAbstentionAgainst

ORDINARY SHAREHOLDERS' MEETINGSHARES%SHARES%SHARES%

1Approval of the Company nancial statements for the year ended

December 31, 2016191,253,97099.03%947,7520.49%930,3520.48%

2Approval of the consolidated nancial statements for the year ended December 31, 2016191,042,78598.92%949,9890.49%1,139,3000.59%

3Appropriation of 2016 earnings and setting of the dividend187,650,70897.16%996,2950.52%4,485,0712.32%

4Authorization granted to the Board of Directors for a period of 18 months to allow the Company to trade in its own shares189,022,15097.87%852,7020.44%3,257,2221.69%

5Renewal of the term of ofce of Mr Thierry Peugeot as Director180,280,42593.35%909,1860.47%11,942,4636.18%

6Appointment of Mr Xavier Huillard as Director178,445,01392.40%856,1650.44%13,830,8967.16%

7Statutory Auditors' Special Report on agreements covered by articles L. 225-38 et seq. of the French Commercial Code190,915,75899.05%892,7650.46%947,4980.49%

8Opinion on elements of remuneration due or allocated to Mr Benoît Potier for the year ended December 31, 2016111,681,36157.82%918,7800.48%80,531,93341.70%

9Opinion on elements of remuneration due or allocated to Mr Pierre Dufour for the year ended December 31, 2016130,041,15967.33%887,5630.46%62,203,35232.21%

10Approval of the remuneration policy for the Chairman and Chief Executive Ofcer169,092,75987.56%912,8190.47%23,126,49611.97%

11Approval of the remuneration policy for the Senior Executive Vice President150,898,69078.13%911,4000.47%41,321,98421.40%

EXTRAORDINARY SHAREHOLDERS' MEETING

12Authorization granted to the Board of Directors for a period of 24 months

to reduce the share capital by cancellation of treasury shares190,213,53998.49%861,6150.45%2,056,9201.06%

13Delegation of authority granted to the Board of Directors for a period of 26 months in order to increase the share capital via the issuance of ordinary shares or marketable securities conferring entitlement, immediately and/or in the future, to the Company's share capital, with retention of preferential subscription rights for a maximum nominal amount of 530 million euros185,307,92195.95%857,8440.44%6,966,3093.61%

14Authorization granted to the Board of Directors for a period of 26 months to increase the issuance amount of shares or marketable securities in the event of oversubscription177,755,78492.03%878,7100.46%14,497,5807.51%

15Delegation of authority granted to the Board of Directors for a period of 26 months to perform share capital increases, with cancellation of preferential subscription rights, reserved for members of a company or group savings plan189,418,57698.08%888,3490.46%2,825,1491.46%

16Delegation of authority granted to the Board of Directors for a period of 18 months to perform share capital increases, with cancellation of preferential subscription rights, reserved for a category of beneciaries180,595,18693.50%8,662,7324.49%3,874,1562.01%

ORDINARY SHAREHOLDERS' MEETING

17Powers for formalities192,101,42299.47%908,7890.47%121,8630.06%

5MINUTES / Combined Shareholders" Meeting of May 3, 2017 AIR LIQUIDE

2016 FINANCIAL RESULTS AND HIGHLIGHTS

In this year of transition

with the Ai rgas acquisition, Air Liquide reports solid financial performance for 2016 in a context of moderate global growth. The Group h as entered a new phase of its development, with the publication of NEOS, its mid-term cor porate program.

Fabienne Lecorvaisier

, Group Chief Financial Officer

2016 was a major tra

nsformational year for Air Liquide. The acquisition of Airgas on May23, 2016 marks a major milestone in the Group"s geographic expansion and the extension of its markets. The dierent acquisition

process phases were completed in less than a year: the asset divestments required by the U.S. Antitrust Authorities were nalized in September2016; the Airgas purchase was renanced in full during the year through euro and U.S. dollar bond issues and a share capital increase with retention of preferential subscription rights.

GROUP KEY FIGURES

Revenue:

18,135million euros, up +14.6%

(a)

Operating income recurring:

3,024million euros, up +5.9%

(a)

Net prot:

1,844million euros, up +5.0%

Return On Capital Employed, after tax:

7.8%

Earnings per share:

5.11euros, up +2.4%

Cash ow

(b) : 3.7billioneuros, up +31%

PERFORMANCE HIGHLIGHTS

Sustained activity levels in a context of moderate global growth Further increases in revenue, net prot and dividend per share Fresh productivity gains, supplemented by initial Airgas synergies

A high level of investment

A robust self-nancing model

A solid balance sheet

Successful share capital increase

REVENUE

Gas& Services

With the acquisition of Airgas, the Group is now rmly focused on its Gas& Services activities. The divestment of the Diving business was completed at the end of December2016 and an agreement for the sale of AirLiquide Welding to Lincoln Electric was signed on April27, 2017. Gas& Services revenue represented

96% of Group revenue in 2016. The Industrial

Merchant business line alone generated over 40% of Group sales.

BREAKDOWN BY BUSINESS LINE

2016-2015 like-for-like growth

(a) +4% +5% -2% +5%Large Industries

Industrial Merchant

Healthcare

Electronics

+45% published figures including Airgas
(b) +11% published figures including Airgas (b)

Large Industries

increased +5%, reporting growth across all geographic regions. Revenue was boosted by strong demand for air gas and the ramp-up of production units, primarily in Germany, Poland, America and China. Growth also came from the two hydrogen production units brought online at the Yanbu site in the second quarter of 2015. The commissioning of an underground hydrogen cavern in the United States at the end of the year helped develop on-demand hydrogen sales, while improving reliability for customers.

Industrial Merchant

revenue surged +45% following the integration of Airgas, although comparable gures show a slight contraction of -2%, with contrasting results across countries and market segments. The energy, construction and metal manufacturing sectors reported a slight downturn, while the food, beverage and pharma sectors posted growth.

Electronics

revenue increased +4%, driven by continuing strong demand, particularly in the advanced materials segment.

Healthcare

revenue grew +11% including Airgas" contribution. Like-for-like growth is a solid +5%, spurred by high home healthcare demand and strong hygiene sales. Developing economies posted double-digit growth.

BREAKDOWN BY GEOGRAPHIC REGION

2016-2015 like-for-like growth

(a) +8%+2% +4%

Europe

Americas

Asia Pacific

Middle East and Africa

+73%
published figures including Airgas (b) +2% (a) Excluding currency, energy and material scope impacts. (b)

Published figures compar

ed with 2015, including Airgas sales from May 23, 2016 and negative currency and energy impacts. (a) Excluding currency, energy and material scope impacts. (b)

Published figures compared with 2015, including Airgas sales from May 23, 2016 and negative currency and energy impacts.

quotesdbs_dbs48.pdfusesText_48

[PDF] ambassade afrique du sud visa

[PDF] ambassade australie suisse

[PDF] ambassade de france allemagne

[PDF] ambassade de france aux emirats arabes unis

[PDF] ambassade de france en algerie

[PDF] ambassade de france en cote d'ivoire contact

[PDF] ambassade de france en côte d'ivoire visa

[PDF] ambassade de france irlande

[PDF] ambassade emirats arabes unis en tunisie

[PDF] ambassade francais washington

[PDF] ameli

[PDF] améliorer son expression écrite michèle longour pdf

[PDF] améliorer son français oral pdf

[PDF] chinese characters pdf

[PDF] amenaza internet el contacto real corrigé