DOW INC
For the period ended Dec 31, 2024. Filed Feb 4, 2025.
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FY2024 · Filed Feb 4, 2025
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Packaging & Specialty Plastics
| Packaging & Specialty Plastics | ||
|---|---|---|
| In millions | 2024 | 2023 |
| Net sales | $21,776 | $23,149 |
| Operating EBIT | $2,373 | $2,700 |
| Equity earnings | $81 | $130 |
| Packaging & Specialty Plastics | ||
|---|---|---|
| Percentage change from prior year | 2024 | 2023 |
| Change in Net Sales from Prior Period due to: | ||
| Local price & product mix | (4)% | (16)% |
| Currency | — | — |
| Volume | (2) | (5) |
| Total | (6)% | (21)% |
Packaging & Specialty Plastics net sales were $21,776 million in 2024, down 6 percent from net sales of $23,149 million in 2023, with local price down 4 percent, volume down 2 percent and currency flat. Local price decreased in Packaging and Specialty Plastics in all geographic regions, primarily driven by lower pricing of downstream polymers. Local price was flat in Hydrocarbons & Energy. Volume increased in Packaging and Specialty Plastics, primarily in EMEAI and the U.S. & Canada, due to higher downstream polymers and polyethylene demand. Volume decreased in Hydrocarbons & Energy in all geographic regions, led by EMEAI, primarily driven by higher internal derivative demand and lighter feedslate cracking.
Operating EBIT was $2,373 million in 2024, down $327 million from Operating EBIT of $2,700 million in 2023. Operating EBIT decreased primarily due to lower selling prices, lower volumes in Hydrocarbons & Energy, higher planned maintenance costs, and the impact of an unplanned ethylene facility outage, which were partially offset by lower raw material, energy and feedstock costs.
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