Industrial gases specialist Messer achieves record result

●     Sales of EUR 4.5 billion, up 2 percent* year-on-year

●     EBITDA increases by 10 percent* to EUR 1.4 billion

●     Investments at a high level of around EUR 0.9 billion

●     Strong balance sheet, with cash of EUR 0.5 billion at year-end 2024

●     Number of employees rises from around 11,500 to over 11,800

Despite the challenging economic environment, Messer, the world’s largest privately owned specialist for industrial, medical and specialty gases, demonstrated resilience in the financial year 2024. Group sales rose by 2 percent* to approximately EUR 4.5 billion as new capacities were added and new customers were supplied, including in the aerospace and semiconductor industries. EBITDA increased by approximately 10 percent* to EUR 1.4 billion. Messer invested around EUR 0.9 billion to foster future growth by building additional plants and maintaining existing assets. In addition, Messer secured helium volumes in the US during 2024.

“The industrial gases business proves resilient even in globally challenging times, supported by a broadly diversified customer base and regional footprint,” explains Bernd Eulitz, CEO of Messer, adding, “the vast majority of our products are produced locally to serve local customers, with only limited cross-border business.” Messer also expanded its team and employed over 11,800 people at the end of 2024, compared to around 11,500 in the previous year.

Regionally diversified industrial gas business

Sales of Messer’s companies in the Americas amounted to approximately EUR 2.4 billion in the 2024 financial year, up 4 percent* year-on-year. Around EUR 1.6 billion of total regional sales is attributable to the US, EUR 0.3 billion to Canada and EUR 0.4 billion to Latin America.

Capital investment projects in this region were concentrated in the US. The primary focus was on strategic projects expanding the market segments aerospace, semiconductor and medical industries, as well as on investments in the helium business. Investments in Latin America support Messer’s growth and enhance reliability in the region.

In Europe, Messer generated stable sales of around EUR 1.3 billion. In Western Europe, Messer achieved sales of EUR 0.5 billion, while Central Europe and Southeast Europe contributed sales of EUR 0.4 billion each.

Investment projects in the region included carbon dioxide production plants in Austria, Poland, the Czech Republic, Slovenia and Serbia. In Belgium, Messer inaugurated the construction of the country’s first industrial-scale green hydrogen production plant. The 25 MW facility in Zeebrugge is part of the joint venture Hyoffwind, which is expected to commence operation in 2026. Meanwhile, in Germany, Messer pursued the realization of a 10 MW green hydrogen plant as a joint venture partner of HyDN GmbH in Dueren, with operations planned to begin this year. A new filling plant started its operations in Spain to support growth and enhance logistical efficiency in the Northeast of the country. Further investments in generators, purification and filling plants were made across the region.

In Asia, Messer generated stable sales of EUR 0.8 billion. EUR 0.7 billion is attributable to China and EUR 0.1 billion to the ASEAN region. Strong sales growth in Vietnam compensated lower sales in China. The positive development in Vietnam is due to the demand from pipeline customers and for liquefied gases, which facilitated the ramp-up of new production assets.

In its ASEAN region, Messer continued to invest particularly in Vietnam. In addition to further expanding on-site capacities for customers in the steel industry, investments in end-markets such as food processing, electronics and healthcare support diversification of end-markets for Messer in the country. In Thailand, Messer’s investment into its first production facility continued.

In China, the group invested in air separation plants, generators and specialty gas production and purification facilities to support customers across end-markets such as the steel, chemical, electronics, pharmaceutical and food and beverage industries.

Long-term financing successfully secured

In the financial year 2024, EUR 1.3 billion in private placements and EUR 1.15 billion in promissory notes were successfully raised to fully refinance outstanding acquisition loans and securing long-term financing.

Net debt at the end of 2024 amounted to EUR 3.6 billion, with cash and cash equivalents totaling EUR 0.5 billion.

* Consolidated financials for Messer, with prior year figures presented on a pro-forma basis, reflecting the current year’s scope and adjustments related to the acquisition of Messer Industries in November 2023.