Air Products and Chemicals(US:APD)2020-07-23 17:45Financial Performance & Strategy - Q3 FY20 sales were $2065 million, a decrease of 7% compared to Q3 FY19 and Q2 FY20 [26] - Adjusted EBITDA for Q3 FY20 was $881 million, a decrease of 1% compared to Q3 FY19 and Q2 FY20, but the Adjusted EBITDA Margin was 427%, a 260bp increase year-over-year [26] - Adjusted EPS for Q3 FY20 was $201 per share, a decrease of 7% compared to Q3 FY19 [26] - The company successfully issued approximately $5 billion in debt in April, demonstrating investor confidence in its financial stability [5, 22] - The company is committed to managing its debt balance to maintain its current targeted A/A2 rating [22, 39] Project Investments & Growth - The company has committed to invest $159 billion in new projects by the end of 2022, exceeding its initial goal [32] - Key projects include a $7 billion NEOM carbon-free hydrogen project in Saudi Arabia and a $2 billion coal-to-methanol project in Indonesia [5] - The Indonesia project involves producing approximately 2 million tons per year (TPY) of methanol from approximately 6 million TPY of coal [15] Operational Metrics - The Employee Lost Time Injury Rate improved by 68% from FY14 to Q3 FY20, reaching 008 [8] - The Employee Recordable Injury Rate improved by 32% from FY14 to Q3 FY20, reaching 039 [8] Regional Performance - Industrial Gases - Asia: Sales were $652 million, a decrease of 4%, but Adjusted EBITDA Margin was 501%, a 90bp increase [41] - Industrial Gases - Americas: Sales were $850 million, a decrease of 11%, but Adjusted EBITDA Margin was 484%, a 550bp increase [44] - Industrial Gases - EMEA: Sales were $430 million, a decrease of 13%, and Adjusted EBITDA Margin was 395%, a 110bp increase [47]