Business News
DuPont 2Q Business Segment Results
Wednesday 22. July 2009 - The following is a summary of business results for each of the companys operating segments, comparing sales and pre-tax operating income (PTOI) excluding significant items for second quarter 2009 versus the same period last year. All references to selling price changes are on a U.S. dollar basis, including the impact of currency.
Agriculture & Nutrition
Sales of $2.6 billion were up 3%, driven by North America corn and soybean seed price increases, and seed share gains which were partially offset by unfavorable currency and lower volumes of crop protection products.
PTOI was up 15% at $581 million, reflecting record North America seed sales and the absence of last years $52 million charge on open soybean contracts, partly offset by significant unfavorable currency impact and increased commodity costs.
Coatings & Color Technologies
Sales of $1.4 billion were down 26%, primarily reflecting continued weakness in motor vehicle markets and, to a lesser extent, titanium dioxide products.
PTOI of $133 million reflects lower sales volumes and unfavorable currency impact, partly offset by fixed cost reductions and pricing gains.
Electronic & Communication Technologies
Sales of $795 million were down 26%, reflecting 23% lower volume and 3% lower selling prices. Softness in consumer and general industrial markets and a weak weather-related refrigerant season reduced demand.
PTOI of $37 million reflects lower sales volumes and unfavorable currency, which more than offset cost reductions and pricing gains in fluoroproducts.
Performance Materials
Sales of $1.1 billion were down 40%, reflecting weak demand in major markets in all regions, particularly in motor vehicle and general industrial markets.
PTOI of $37 million principally reflects lower sales volume and unfavorable currency, partly offset by lower raw material costs and fixed cost reductions.
Safety & Protection
Sales of $1.0 billion were down 37%, reflecting a 29% volume decline and 8% lower selling prices. Significant volume declines occurred primarily in general industrial and construction markets.
PTOI of $71 million principally reflects lower market demand, partly offset by lower raw material costs and fixed cost reductions.