Record fourth quarter results from Dow
US-based chemical firm The Dow Chemical Company has reported a new fourth quarter record of $12.2 billion sales, a 3% increase over the prior year period.
Year-on-year, volume was up 2% with solid growth in the Performance segments and Basic Plastics offsetting declines in Basic Chemicals and Hydrocarbons and Energy. Strong demand outside North America, most notably in Asia Pacific, more than offset continued reductions in both
In the Performance Plastics segment, fourth quarter sales of $3.55 billion set a new quarterly record, up 11% over the same period in 2005. Prices rose 8% and volume increased 3%, with strong gains in every geographic region except
Sales in Performance Chemicals rose to $2 billion for the fourth quarter, an increase of 8% compared with $1.85 billion posted in the same period last year. Prices were up 3% while volume increased by 5% and sales were particularly high in both Asia Pacific and
Specialty Chemicals also reported healthy volume gains in all geographic regions.
On the downside, fourth quarter sales in the Basic Chemicals segment declined by 14% ,from $1.53 billion to $1.32 billion. Prices fell 8%, while volume declined 6%, reflecting lower demand across all geographic regions.
The company reported record annual sales of $49.1 billion in 2006, 6% higher than last year’s record of $46.3 billion. Prices rose 5% with increases in all operating segments, excluding Agricultural Sciences, and in all geographic regions. Net income for the year was $3.7 billion compared with $4.5 billion in 2005.
