艺康 2025年度报告

WELCOME STRONG GROWTH, GREATER IMPACT,ACCELERATING MOMENTUM improve performance, address laborchallenges and run efficiently. GlobalWater drove growth by deliveringmeasurable value across commercialand industrial markets and advancedmajor opportunities in the fast-growingmicroelectronics and data centerindustries. Life Sciences deliveredanother strong year in biopharmaas demand for high standards incontamination control and purificationgrew. And Pest Elimination drove stronggrowth as our digitally connected smartdevices expanded their reach anddelivered stronger outcomesfor customers. Companies by Fortune, ranking first inour industry for the 12th year. We alsoearned a rare Double-A rating by CDP,the world’s leading environmental ratingorganization, and were named on theEthical Companies list by Ethisphere forthe 19th consecutive year. Our momentum in AI was alsorecognized on Fortune’s AIQ ranking,which identifies companies bestprepared to lead in the age of AI.Ecolab’s number nine position reflectshow we apply advanced analytics andAI technologies that help customersoperate more efficiently, drive growthand conserve water and energy. Weare helping shape the future of AI bycombining deep technical expertise withpurposeful innovation. A major highlight of the year waswelcoming Ovivo Electronics to theEcolab family. Its world-leading ultrapurewater technology strengthens ourposition across the microelectronicsvalue chain and enables a best-in-classcircular water offering for the fast-growing semiconductor market. WithOvivo, we now have the capability toserve all three industries fueling ArtificialIntelligence’s (AI) growth: fabs, powersystems and data centers. As we look ahead, the world is growingmore complex, and our diverse portfoliopositions us well to help customersstay ahead. We win by delivering betterbusiness outcomes, stronger operationalperformance and lower environmentalimpact, and we continue to raise the barby investing in our people, technologiesand One Ecolab growth strategy. Themomentum we built this year gives us astrong foundation for the years ahead,and with a more connected organization,advanced portfolio and deeper customerpartnerships, we are well positioned tokeep delivering high performance for ourcustomers and shareholders. Innovation continued to fuel our progress.We introduced smarter, more automated,more sustainable solutions across ourportfolio—from advanced liquid coolingfor data centers to AI-enabled cleaningsystems in food and beverage facilitiesand Purolite resins for life-saving drugproduction. These solutions combinescience-based expertise, data-driveninsights, AI technologies and world-class service. This unique blend is whatdefines Ecolab, as we help millionsof customers across 40 industries in170 countries deliver better outcomes,higher performance and minimizedenvironmental impact. It’s why we knowwhat best-in-class looks like and how tohelp every customer reach it. I’m proud of what our team accomplishedin 2025 and excited for what comes next.Thank you for your belief in Ecolab andin the work we do together. The bestchapters of our story are ahead. 2025 was another record year forEcolab. Thanks to our 48,000associates, we delivered recordsales, earnings per share,operating income margins andfree cash flow by staying focused onwhat matters most: taking care of ourcustomers and each other. This approachcontinues to drive strong, consistentgrowth across the company. Christophe BeckCHAIRMAN & CEO Our purpose-driven growth was alsorecognized globally. Ecolab was namedone of the World’s Most Admired Our team delivered strong performanceacross our businesses. Institutional &Specialty helped hospitality customers CREATING SUSTAINABLE, LONG-TERM VALUEFOR OUR SHAREHOLDERS continuing to prioritize engaging withinvestors, I’ve been able to incorporatetheir perspectives to help align Ecolab’sstrategy with shareholder expectations.I’m also continuing to support ongoingBoard refreshment by overseeingplanned rotations of key Chair roles tobring fresh perspectives and ensureour governance remains rigorous,forward-looking and proactive. margin performance and deliveredstrong free cash flow again in 2025.The company’s ability to consistentlydeliver these results—while continuingto invest in R&D, digital innovation,talent and growth opportunities—demonstrates focused leadership and along-term mindset. The Board remains confident in Ecolab’sfinancial strength and strategic direction.Maintaining a balanced and effectivecapital allocation framework remainsa priority, including reinvesting to drivegrowth and announcing a 12% increasein our quarterly cash dividend—the 34thconsecutive annual increase. As I look ahead, I remain confident inEcolab’s ability to continue deliveringstrong performance and long-termvalue. I want to extend my sinceregratitude to our shareholders for theircontinued trust and support, whichempower us to pursue our strategy withfocus and ambition. I also a