Dow registered record Q2 sales

Date:08-03-2011

Dow reported its Health and Agricultural Sciences segment a record second quarter sales of $1.5 billion, up 18 percent compared with the year-ago period. Volume increased 13 percent and price rose 5 percent. All geographic areas reported double-digit sales gains versus the same period last year. The business also posted record first-half sales of more than $3 billion.

Dow’s health and agricultural sciences sales results ($ million)
Q2 ended June 30th	Q2 2011	Q2 2010	% change	First half of 2011	First half of 2010	% change
Sales	1,500	1,276	+17.6	3,106	2,645	+17.4
EBITDA	287	196	+46.4	693	580	+19.5

Seeds, Traits and Oils reported demand growth of more than 35 percent. A continued increase in adoption of SmartStax® hybrids in North America and a strong growing season in Latin America drove significant volume increases in corn. Cotton finished a strong season with first-half sales up more than 50 percent, driven by an increase in U.S. planted acres and continued penetration of PhytoGen® cottonseeds. Also in the quarter, the business announced plans to acquire Prairie Brand Seeds, a leading provider of top quality, high-yielding soybeans, further expanding Dow AgroSciences’ broad range of product offerings.

Double-digit growth in agricultural chemical sales was driven by volume gains resulting from new product sales and increased demand for range and pasture products. Globally, new agricultural chemical product sales were up nearly 40 percent versus the same quarter last year, led by increased demand for rice herbicides in Asia Pacific and strong sales of cereal herbicides in the United States and Canada.

EBITDA for the segment was $287 million, which compares with $196 million in the year-ago period.