Dow’s crop protection sales rose 8% in Q2

Dow AgroSciences’ Agricultural Sciences segment posted record sales to $1,676 million, rose by 11.7% versus the year-ago period in the second quarter of 2012 ended June 30th. EBITDA for the segment was $307 million, up by 7% compared with the same period of last year. Volume increased 10% and price rose 2%. North America, Latin America, and Asia Pacific all posted double-digit sales growth driven by customer adoption of new products and healthy agricultural market fundamentals.

Sales of crop protection products rose 8% versus the prior year, driven by strong sales growth in North America, Latin America, and Asia Pacific. Sales of new crop protection products grew 17%, led by gains in aminopyralid and pyroxsulam herbicides and spinetoram insecticide.

Seeds, Traits and Oils (ST&O) reported sales gains of more than 30% versus the year-ago period. Increased corn sales in North America and Latin America were a key driver of growth, with increased penetration of SmartStax® hybrids and Refuge Advanced® in North America, and further adoption of Herculex® technology in Latin America.

For the first half year, sales of Agricultural Sciences segment increased by 13.1% to $ 3,514 million, and EBITDA rose by 9.4% to $ 758 million.

Dow’s Agricultural Sciences sales results ($ million)
Q2 ended June 30th	Q2 2012	Q2 2011	% change	H1 2012	H1 2011	% change
sales	1,676	1,500	+11.7	3,514	3,106	+13.1
EBITDA*	307	287	+7.0	758	693	+9.4
* earnings before interest, tax, depreciation and amortization