AIR PRODUCTS PUBLIC LIMITED COMPANY

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“At the time of signing of these financial statements no material uncertainties exist related to events or conditions that may give rise to significant doubt as to the company's ability to continue in operations for the foreseeable future. The entity continues to generate positive cash flows from operations, and is expected to continue to do so for the coming 12 months from date of approval of this report which provides the directors with reasonable expectation that the company will be able to meet its financial obligations as they fall due for at least 12 months from the date of the approval of the financial statements. Therefore, the use of going concern basis of accounting is deemed appropriate.”

Group structure

1. AIR PRODUCTS PUBLIC LIMITED COMPANY · parent
   1. Air Products Renewable Energy Limited 100% · UK · non-trading
   2. Gas Direct Limited 100% · UK · selling and distribution of industrial gases
   3. Gas Direct Cymru Cyfyngedig 100% · UK · selling and distribution of industrial gases
   4. SIG Industrial Gases Limited 100% · UK · selling and distribution of industrial gases
   5. Air Products Llanwern Limited 50% · UK

Significant events

• “During 2025, the company announced its decision to suspend development of the large-scale green hydrogen production facility in the Port of Immingham, UK which was previously being developed with Associated British Ports and first announced in 2022 as a result of government policy not providing required assurance for a project of its intended size.”
• “The decision to exit the business and stop development of the EfW projects was based on continued difficulties encountered with the Company's project; and the conclusion, based on testing and analysis completed during 2016, that significant additional time and resources would be required to make the projects operational.”
• “In June 2023, the UK High Court issued a ruling in the case of Virgin Media Limited v NTL Pension Trustees II Limited and others relating to the validity of certain historical pension changes. This case may have implications for other defined benefit schemes in the UK. An appeal of the case was heard in late June 2024 and the judgment was handed down on 25 July 2024, which confirmed the initial High Court ruling.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +18.4%

  £463,493,000 → £548,580,000

• Cash

  -17.4%

  £2,224,000 → £1,838,000

• Net assets

  +2.5%

  £931,285,000 → £954,870,000

• Employees

  +1.6%

  1,516 → 1,540

• Operating profit

  +27.5%

  £89,596,000 → £114,218,000

• Profit before tax

  -0.2%

  £149,343,000 → £149,027,000

• Wages

  +0.6%

  £112,406,000 → £113,055,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers