Dow Chemical 2011 Sales Hit Record $60 Billion Worldwide
February 5, 2012
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By: Dave Rogers
The Dow Chemical Company reported record sales of $60 billion worldwide including a record $19 billion in emerging geographies.
Although the fourth quarter was flat, The Dow Chemical Company reported record sales of $60 billion worldwide including a record $19 billion in emerging geographies.
Asia Pacific sales rose to another new milestone at $10 billion. The record sales amounts reflected an 18 percent rise versus the prior year.
Chairman/CEO Andrew N. Liveris said: "We derived strong benefit from our geographic footprint -- delivering broad-based top-line gains and achieving record sales for both the quarter and the year in emerging regions, balancing considerable weakness in Western Europe."
Fourth quarter sales of $14.1 billion marked a 2 percent increase over the same period last year. Favorable price dynamics allowed the company to fully offset a $476 million increase in purchased feedstock and energy costs.
The company reported a loss of 2 cents a share in the quarter, a charge related to a tax valuation allowance in Brazil impacting results by a negative 23 cents per share.
"Our significant U.S. market and feedstock advantage positioned us for success in the quarter and will continue to provide substantial value moving forward," said Mr. Liveris.
The company generated nearly $4 billion of cash from operating activities in the year, and reduced its net debt to total capitalization ratio 180 basis points below year-end 2010.
Dow Water and Process Solutions reported double-digit volume growth, with increases in all geographic areas, fueled by gains in ion exchange resins and ultra-filtration.
Dow Building and Construction reported increased sales in all geographic areas, led by Latin America and Asia Pacific.
Price actions were implemented across all geographic areas despite demand lagging construction demand especially in developed regions.
Equity earnings were $102 million, largely reflecting the contribution of Dow Corning.###
Dave Rogers is a former editorial writer for the Bay City Times and a widely read,
respected journalist/writer in and around Bay City.
(Contact Dave Via Email at email@example.com)
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