Dow agchem sales up 12% in Q2 2013

Dow’s Agricultural Sciences posted a 10.4% increase to $1,850 million in the second quarter ended on June 30, 2013 versus the year ago period. Volume increased 9 % and price rose 1 %. Volume gains were achieved in all geographic areas led by Latin America. Dow’s Agricultural Sciences segment includes crop protection, seed, traits and oils.

Dow’s Agricultural Sciences sales results ($ million)
Q2 ended Jun. 30	Q2 2013	Q2 2012	% change	Six-month 2013	Six-month 2012	% change
sales	1,850	1,676	+10.4	3,953	3,514	+12.5
EBITDA*	290	307	-5.5	774	758	+2.1
*earnings before interest, tax, depreciation and amortization

Second quarter sales of crop protection rose 12 %, with increases in all geographic areas. Latin America posted the largest gains, driven by higher sales of herbicides and insecticides. Sales of new crop protection products grew 14 % for the quarter.

Seeds, Traits and Oils (ST&O) sales were up 4 % in the quarter versus the year-ago period. Year-to-date,ST&O sales are up 23 %, driven by strong farmer demand for SmartStax® corn hybrids.

EBITDA for the segment was $290 million, down from last year’s record second quarter EBITDA of $307 million, reflecting a shift in seasonal buying patterns and increased growth investments. Agricultural Sciences achieved a new first half EBITDA record of $774 million.