DuPont 2009 Annual Report Download - page 19

Download and view the complete annual report

Please find page 19 of the 2009 DuPont annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 113

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113

Part II
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS, continued
Analysis of Operations
(Dollars in millions) 2009 2008 2007
NET SALES $26,109 $30,529 $29,378
2009 versus 2008 Consolidated net sales for 2009 were $26.1 billion, down 14 percent. This reflects 12 percent lower
volume, a 1 percent increase in local selling prices, and 3 percent unfavorable currency exchange. The full year
worldwide sales volume decline reflects decreases in every region for the first 9 months of the year, partly offset by year
over year volume increases in certain markets during the fourth quarter. Sales in emerging markets of $8 billion
declined 9 percent from 2008, while the percentage of total company sales in these markets increased to 31 percent.
The table below shows a regional breakdown of 2009 consolidated net sales based on location of customers and
percentage variances from prior year:
Percent Change Due to:
Percent
2009 Change vs. Local Currency
(Dollars in billions) Net Sales 2008 Price Effect Volume Portfolio
Worldwide $26.1 (14) 1 (3) (12) -
United States 9.8 (11) 2 - (11) (2)
Europe, Middle East, and Africa
(EMEA) 7.2 (25) 1 (8) (18) -
Asia Pacific 5.2 (5) (1) - (4) -
Latin America 3.2 (11) 2 (4) (9) -
Canada 0.7 (16) 5 (8) (13) -
2008 versus 2007 Consolidated net sales for 2008 were $30.5 billion, up 4 percent. This reflects 10 percent sales
growth through September 30, partly offset by a 17 percent year-over-year sales decline in the fourth quarter,
precipitated by a significant decline in demand. Full year sales reflect a 7 percent increase in local selling prices and
3 percent favorable currency exchange, partly offset by 5 percent lower volume and a 1 percent reduction from portfolio
changes. Worldwide sales volumes reflect 3 percent growth in emerging markets, more than offset by significantly
lower volumes in the company’s major polymer, chemical, and electronic product lines sold in the U.S. and Western
Europe.
18