By Andrey Sychev and Bartosz Dabrowski
(Reuters) -Industrial gases firm Air Liquide (EPA:AIRP) pledged on Thursday to take advantage of an historic opportunity to invest in clean energy, helped by the U.S. Inflation Reduction Act (IRA), as it beat 2022 earnings estimates and forecast more growth this year.
U.S. President Joe Biden signed the $430 billion IRA last August, promising huge incentives for companies to invest in the shift away from fossil fuels.
"We have never had historically such an opportunity of investment," Air Liquide Chief Executive Francois Jackow said in a press call, adding that in recent months the investment dynamic had become stronger in the United States than in Europe.
Air Liquide is one of the largest hydrogen producers in the world, and last year made almost 4 billion euros ($4.3 billion) of investment decisions, a company record.
The firm, which in 2022 launched its ADVANCE plan to invest 16 billion euros by 2025, said its 12-month investment opportunities totalled 3.3 billion euros, with more than 40% linked to the energy transition.
Air Liquide reported recurring operating income of 4.86 billion euros for 2022, up 16.9% year-on-year, above the 4.79 billion average forecast in a company-provided consensus.
Sales rose 7% on a comparable basis to 29.9 billion euros, with demand from the Americas and Asia Pacific, and from industrial merchant and electronics clients, driving growth in its main gas and services business.
At 1200, Air Liquide shares were up 1.6% at 148.16 euros.
For this year, the company forecast a further increase its operating margin and recurring net profit growth at constant exchange rates, unchanged from its guidance for last year
It proposed a dividend of 2.95 euro per share, up 12.2% year on year.
($1 = 0.9338 euros)