Business News

DuPont: Fourth Quarter 2008 Business Segment Performance Reflects Downturn in Demand

Wednesday 28. January 2009 - The following are business segment highlights comparing sales and pre-tax operating income (PTOI) (loss) excluding significant items for fourth quarter 2008 versus fourth quarter 2007.

Agriculture & Nutrition
Fourth quarter sales were USD 1.2 billion, down USD 26 million or 2 percent, with increased USD pricing in all regions and seed market share gains in Latin America, offset by volume declines in crop protection and food ingredient products.
The seasonal underlying pre-tax loss of USD 164 million reflects growth investments, variable cost increases driven by higher commodity and other raw material costs and less favorable crop protection products volume and mix. Fourth quarter 2007 included a gain from an asset sale.
Coatings & Color Technologies
Sales of USD 1.3 billion were down 21 percent. Higher USD prices were more than offset by a substantial decline in volume in all businesses and regions.

The underlying pre-tax loss of USD 65 million reflects lower volume including charges for low capacity utilization and rising raw material costs that were not fully offset by higher USD selling prices.
Electronic & Communication Technologies
Sales of USD 834 million were down 13 percent with weakness in consumer electronics, motor vehicles and industrial markets offsetting strength in photovoltaics and pricing gains in fluoroproducts.
Underlying PTOI of USD 9 million reflects weak demand across all businesses, charges for low capacity utilization, and higher raw material costs in fluoroproducts. Fourth quarter 2007 included a gain on sale of land.
Performance Materials
Sales of USD 1.2 billion were down 30 percent as weak global demand drove volume down 32 percent, partially offset by higher USD prices.
The underlying pre-tax loss of USD 129 million reflects lower volume across all businesses, charges for low capacity utilization, weaker sales mix and the impact of higher raw material costs that were not fully covered by higher USD selling prices.
Safety & Protection
Sales of USD 1.3 billion were down 10 percent. Pricing gains, particularly in aramids and chemical products, were more than offset by lower demand as all businesses experienced the impact of the global economic slowdown and destocking in the supply chain.

Underlying PTOI of USD 105 million reflects lower volume, charges for low capacity utilization and increased raw material prices partially offset by higher USD selling prices.