Air Liquide reported fourth-quarter sales of €6.62 billion, meeting analyst forecasts and signaling stability in its core industrial gas business. The company also announced a 10% increase in its full-year dividend to €3.70 per share, rewarding shareholders after a year of margin expansion. Operating cash flow reached €6.86 billion for the year, up from €6.54 billion in 2024, while net debt to operating income improved to 1.5x. EBIT for the second half was €2.85 billion, exceeding expectations by 2%. This margin strength, improving to 21.5% from 20.5% year-over-year, underpins the dividend hike.

Analysts cited the results as supportive for the stock, expecting renewed investor confidence. The company reiterated its 2022–26 target of a 460-basis-point EBIT margin uplift, indicating a long-term focus on profitability despite the in-line sales figure. The dividend increase, representing a double-digit gain, directly benefits existing shareholders and signals management's confidence in sustained cash generation.