Business News
DuPont 1Q 2011 Business Segment Performance
Monday 25. April 2011 - The following is a summary of business results for each of the companys reportable segments, comparing first quarter 2011 with first quarter 2010, for sales and pre-tax operating income (PTOI). All references to selling price are on a U.S. dollar basis, including the impact of currency.
Agriculture & Nutrition
Includes Crop Protection, Pioneer Hi-Bred and Nutrition & Health businesses
Sales of $3.8 billion were up $586 million, or 18%, with 13% volume growth, 4% higher selling prices and a 1% increase from a portfolio change. Seed sales growth primarily reflects strong North American performance in both Pioneer brand and PROaccess products and a strong, early start to the European season. Crop protection product sales growth reflects a strong and early start to the northern hemisphere season. PTOI of $1.1 billion improved 21% on higher volume.
Electronics & Communications
Sales of $0.8 billion were up 29%, with 20% higher selling prices, primarily pass-through of metals prices and 9% higher volume. Higher volume was driven by strong demand for photovoltaics and consumer electronics in Asia Pacific. PTOI of $111 million increased modestly, reflecting higher volume.
Performance Chemicals
Includes Titanium Technologies and Chemicals & Fluoroproducts businesses
Sales of $1.8 billion were up 27%, with 21% higher selling prices and 6% higher volume. Sales increased across all regions, especially in the U.S. and Asia Pacific. Higher selling prices stemmed from strong global demand for titanium dioxide, refrigerants and fluoroproducts. PTOI was $394 million, increasing $204 million due to higher selling prices and volume.
Performance Coatings
Sales of $1.0 billion were up 10%, reflecting 6% higher selling prices and 4% higher volume. Global automotive markets improved primarily due to a significant increase in North American auto builds. Strong demand continued in industrial coatings, particularly in the North American heavy-duty truck market. PTOI was $65 million, an improvement of $20 million versus prior year on strong sales and operating leverage.
Performance Materials
Includes Packaging & Industrial Polymers and Performance Polymers businesses
Sales of $1.7 billion were up 11%, with 7% higher volume, 6% higher selling prices and a 2% reduction from a portfolio change. Continued improvement in automotive, electronic and packaging markets resulted in higher volume. PTOI was $288 million, up $58 million on higher selling prices and volume.
Safety & Protection
Includes Building Innovations, Protection Technologies and Sustainable Solutions businesses
Sales of $1.0 billion were up 22%, with 14% higher volume and a 7% increase from a portfolio change. Growth came from increased demand for aramid and nonwoven products in industrial markets across all regions. PTOI was $145 million, up $43 million on higher volume and a portfolio change, partially offset by higher spending for growth initiatives.