Recently, Dow released its financial report for the fourth quarter of 2020, stating that as the economy continues to recover, Dow has achieved both sales and profit growth, and most of its business has reached the level before the epidemic.
In the fourth quarter, Dow’s net sales were US$10.7 billion, an increase of 5% over the same period last year, mainly due to rising local prices, changes in currency exchange rates, and increased sales. As the global economy continues to recover, Dow’s sales this quarter increased by 10% compared with the previous quarter. Operating profit before interest and taxes (EBIT) was US$1.1 billion, an increase of US$1 billion year-on-year, mainly due to the increase in profit margins in polyethylene and polyurethane applications.
Jim Fitterling, Chairman and CEO of Dow said: “Dow’s consumer-oriented product portfolio and continuous focus on capturing customer needs have resulted in sales in each regional market and each business segment. Both have achieved year-on-year growth, and the prices and profit margins of each product line have also achieved month-on-month growth."
Fitterling is confident about the development in 2021 and beyond. As the market recovers further, Dow expects profit margins to increase, as the company’s differentiated solutions in its product portfolio have seen demand growth. In the longer term, Dow expects to further stand out from the industry by enhancing innovation capabilities, improving operational efficiency, creating a leading environment, and improving social governance capabilities, thereby continuing to create extraordinary value.
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