Fourth quarter operating profit was up 68% compared with the final three months of 2011 to USD 254m, thanks to lower feedstock costs and higher volumes. Sales in the period were down 5% at USD 1.53 bn due to lower prices and a reduction due to a portfolio change. Stable packaging markets and strong demand in the North American automotive market were partially offset by higher volumes, the company said.
Overall, DuPont reported full year pre-tax operating profit of USD 5.71 bn, down 1% on 2011, on sales up 3% year-on-year at USD 34.8 bn. Fourth quarter operating profit was down 26% at USD 522m, due mainly to weak figures in performance chemicals and pharmaceuticals, on sales unchanged at USD 7.3 bn.
DuPont chair and CEO, Ellen Kullman, said: “DuPont stands stronger today than it did a year ago. Our segments delivered innovation, productivity and integration cost synergies. This, coupled with a record year in new product introductions, has strengthened our market position.”
Looking forward, first half 2013 operating earnings are expected to decline modestly on a year-on-year basis. Full-year 2013 sales are expected to be around USD 36 bn.
DuPont news release on full year 2012 earnings as a PDF document