DuPont Pioneer North America Harvest Data

Transcription

1 DuPont Pioneer 2012 North America Harvest Data

2 Regulation G The attached charts include company information that does not conform to generally accepted accounting principles (GAAP). Management believes that an analysis of this data is meaningful to investors because it provides insight with respect to ongoing operating results of the company and allows investors to better evaluate the financial results of the company. These measures should not be viewed as an alternative to GAAP measures of performance. Furthermore, these measures may not be consistent with similar measures provided by other companies. This data should be read in conjunction with previously published company reports on forms 10-K, 10-Q, and 8-K. These reports, along with reconciliations of non-gaap measures to GAAP are available on the Investor Center website at Forward Looking Statements During the course of this presentation we may make forward-looking statements or provide forward-looking information. All statements that address expectations or projections about the future are forward-looking statements. Some of these statements include words such as plans, expects, will, "believes," intends, and estimates. Although they reflect our current expectations, these statements are not guarantees of future performance, but involve a number of risks, uncertainties, and assumptions. Some of those risk factors include: fluctuations in energy and raw material prices; failure to develop and market new products and optimally manage product life cycles; global economic and capital markets conditions; litigation and environmental matters; changes in laws and regulations or political conditions; and business or supply disruptions. The Company does not undertake to update any forward-looking statements as a result of future developments or new information. Developing Markets Total developing markets is comprised of Developing Asia, Developing Europe, Middle East & Africa, and Latin America. A detailed list of all developing countries is available on the Earnings News Release link on the Investor Center website at 2

3 DuPont is a Market-Driven Science Company DuPont Vision To be the world s most dynamic science company, creating sustainable solutions essential to a better, safer, healthier life for people everywhere 7% Long-Term Sales CAGR Secular trends in food / energy / protection New products and applications Building on our success in developing markets 12% Long-Term EPS CAGR* Innovation Differential management Ongoing productivity Margin expansion * Excludes significant items 3

4 Focus Areas: Applying Our Science to solve some really BIG challenges. Food Energy Protection Feeding the World Reducing Our Dependence on Fossil Fuels Keeping People & the Environment Safe 4

5 Right Product Right Acre The Winning Strategy Genetics + Technology + Local Testing Broad germplasm pool across all maturities Over 80 years of targeted local breeding Integrated technology solutions powered by Herculex 1 and Herculex RW insect protection Products locally tested, selected and positioned using our proprietary IMPACT trial system Right Product Right Acre Optimizes Customer Profitability Advantaged Route-To-Market Local sales representative with knowledge of Pioneer brand products and individual customer and field needs Leading source of agronomic expertise Services to enhance yield and maximize profitability (Pioneer Premium Seed Treatment, PROBulk system and Pioneer FIT Studio) Herculex Insect Protection technology by Dow AgroSciences and Pioneer Hi-Bred. Herculex is a registered trademark of Dow AgroSciences LLC. 5

6 2012 Corn Harvest Performance Delivering on Customer Expectations North America Corn Harvest Key Messages Customer expectations met and exceeded in challenging growing conditions Strong performance in the Central and Western corn belt Differential performance of Herculex RW insect protection under this year s heavy insect pressure and drought stress Optimum AQUAmax hybrids demonstrated improved drought tolerance on over 2 million acres New classes and near-term pipeline offering improved performance Solid foundation for continued growth Innovative Technology Local Product Advancements Advantaged Route-to- Market Herculex Insect Protection technology by Dow AgroSciences and Pioneer Hi-Bred. Herculex is a registered trademark of Dow AgroSciences LLC. Liberty, LibertyLink and the Water Droplet Design are trademarks of Bayer. 6

7 Growers Prefer the Optimum AcreMax Family Integrated and Reduced Refuge Solutions Provide Performance with Convenience Optimum AcreMax Insect Protection Family Powered by the Herculex I and Herculex RW traits Over 70% of Pioneer triple-stacked acres planted with Optimum AcreMax 1, Optimum AcreMax RW or Optimum AcreMax Xtra products in % of Pioneer double-stacked acres planted with Optimum AcreMax in launch year Optimum AcreMax and AcreMax Xtra Insect Protection Strong Performance 2012 Optimum AcreMax XTreme Insect Protection Bringing Options to Growers Launching in 2013 Two modes of action for above and below ground insect control in environments with heavy insect pressure 5% integrated refuge in the corn belt Herculex Insect Protection technology by Dow AgroSciences and Pioneer Hi-Bred. Herculex is a registered trademark of Dow AgroSciences LLC. YieldGard, the YieldGard Corn Borer design, and Roundup Ready are registered trademarks used under license from Monsanto Company. Agrisure is a registered trademark of, and used under license from, a Syngenta Group Company. Agrisure technology incorporated into these seeds is commercialized under a license from Syngenta Crop Protection AG. Liberty, LibertyLink and the Water Droplet Design are trademarks of Bayer. Additional refuge may be required in EPA designated cotton growing areas. See specific product use guidelines for more information. 7

8 2012 Corn Harvest Performance Leading Above and Below Ground Insect Solutions Continued performance advantage for above ground insect protection Improved comparative performance of triple-stacked hybrids containing Herculex RW insect protection under this year s heavy corn rootworm pressure and drought stress Source: 2012 Pioneer on-farm trial database as of October, Customer comparisons based on 2012 yield results including data from weigh wagon, yield monitor and PKP trials for all Pioneer brand hybrids against all competitors. Individual results may vary. All data weighted by comparisons within 4CRM and adjusted to 15% moisture. Herculex Insect Protection technology by Dow AgroSciences and Pioneer Hi-Bred. Herculex and the HX logo are registered trademarks of Dow AgroSciences LLC. Liberty, LibertyLink and the Water Droplet Design are trademarks of Bayer. 8

9 Southern Ontario Yld. Adv. / % Wins / Comps P9855HR (HXX/LL/RR2) % 49 P9807HR (HXX/LL/RR2) % 40 P9910XR (HXX/LL/RR2) % 101 P0216AM-R (AM/RR2) % 79 P0474HR (HXX/LL/RR2) % 63 CE South Dakota Yld. Adv. / % Wins / Comps P9807HR (HX1/LL/RR2) % 50 P9917AM1 (AM1/LL/RR2) % 50 P0193HR (HX1/LL/RR2) % 41 36V53 (HX1/LL/RR2) % 41 P0533AM1 (AM1/LL/RR2) % mm Acres 2012 Top Volume Leaders Package vs. All Competitors 1.9 mm Acres Corn Northern Ohio Yld. Adv. / % Wins / Comps P0216AM-R (AM/RR2) % 36 P0413AM1 (AM1/LL/RR2) % 56 P0965AM1 (AM1/LL/RR2) % 121 P0993HR (HX1/LL/RR2) % 94 P1018AM1 (AM1/LL/RR2) % mm Acres NW KS, EA CO, WE NE Yld. Adv. / % Wins / Comps P0231HR (HX1/LL/RR2) % 34 P0474AM1 (AM1/LL/RR2) % 55 P0832AMX-R (AMX/RR2) % 71 P0987XR (HXX/LL/RR2) % 95 P1151AM1 (AM1/LL/RR2/AQ) % mm Acres Northern Illinois Yld. Adv. / % Wins / Comps P0533AM1 (AM1/LL/RR2) % 179 P0636AM1 (AM1/LL/RR2/AQ) % 233 P0832AMX-R (AMX/RR2) % 364 P0987AM1 (AM1/LL/RR2) % 421 P1221YXR (YGCB/HXX/LL/RR2) % mm Acres AR/LA Delta Yld. Adv. / % Wins / Comps P0912HR (HX1/LL/RR2) % 72 P1319HR (HX1/LL/RR2) % 221 P1690HR (HX1/LL/RR2) % 151 P1739HR (HX1/LL/RR2) % 148 P2088YHR (YGCB/HX1/LL/RR2) % mm Acres 2.5 mm Acres SW Iowa Yld. Adv. / % Wins / Comps P0993XR (HXX/LL/RR2) % 45 P1151YHR (YGCB/HX1/LL/RR2/AQ) % 103 P1324HR (HX1/LL/RR2/AQ) % 215 P1360HR (HX1/LL/RR2) % 175 P1498HR (HX1/LL/RR2/AQ) % 91 Source: 2012 Pioneer on-farm trial database as of October 23, Customer comparisons based on 2012 yield results including data from weigh wagon, yield monitor and PKP trials against all competitors. Pioneer area leader package consists of a representative selection of the highest volume hybrids in 2012 plus new hybrids introduced in Individual results may vary. All data weighted by comparisons within 4CRM and adjusted to 15% moisture. Herculex Insect Protection technology by Dow AgroSciences and Pioneer Hi-Bred. Herculex is a registered trademark of Dow AgroSciences LLC. YieldGard, the YieldGard Corn Borer design, and Roundup Ready are registered trademarks used under license from Monsanto Company. Liberty, LibertyLink and the Water Droplet Design are trademarks of Bayer. 9

10 Optimum AQUAmax Products Demonstrated improved drought tolerance in this year s tough conditions Optimum AQUAMax products planted on over 2 million acres in 2012 Over 11,000 on-farm competitive comparisons in 2012 Developed using Pioneer proprietary Accelerated Yield Technology (AYT ) System Offer improved yield stability under drought stress and top-end yield potential under optimal growing conditions 22 commercial hybrids in 2012 Category Waterlimited Pioneer % Yield Advantage Pioneer bu/ac Yield Advantage % Wins # of Comps 8.9% % 3,606 Favorable 1.9% % 7,663 Source: In 2012, Optimum AQUAmax products were grown in on-farm comparisons against competitive hybrids (+/- 4 CRM) in 3,606 water-limited environments with a win ratio of 69 percent; and 7,663 comparisons under favorable growing conditions with a win ratio of 69 percent in the United States. Cumulative claim includes all 2011 and 2012 comparisons across the United States. Water limited environments are those in which the water supply/demand ratio during flowering or grain fill was less than 0.66 on a 0-1 scale (1=adequate moisture as determined by Pioneer) using Pioneer's proprietary EnClass system and in which the average yield of the commercially available hybrids was less than 150 bu/acre. Moisture levels were measured at the nearest weather station. Favorable growing conditions are locations where yield levels were at or above 180 bu/acre on average, regardless of moisture levels. Product performance in water-limited environments is variable and depends on many factors such as the severity and timing of moisture deficiency, heat stress, soil type, management practices and environmental stress as well as disease and pest pressures. All hybrids may exhibit reduced yield under water and heat stress. Individual results my vary. 10

11 2012 Optimum AQUAmax Area Leaders Package vs. All Competitors Southwest Minnesota Yld. Adv. % Wins # of Comps P0062XR % 579 P0062AM % mm Acres Northern Illinois Yld. Adv. % Wins # of Comps P1151AM % 379 P0636AM % mm Acres Eastern Kansas Yld. Adv. % Wins # of Comps P1151HR % 186 P0876HR % mm Acres Southwest Iowa Yld. Adv. % Wins # of Comps P1151YHR % 103 P1498YHR % mm Acres Source: In 2012, Optimum AQUAmax products were grown in on-farm comparisons against competitive hybrids (+/- 4 CRM) in 3,606 water-limited environments with a win ratio of 69 percent; and 7,663 comparisons under favorable growing conditions with a win ratio of 69 percent in the United States. Cumulative claim includes all 2011 and 2012 comparisons across the United States. Water limited environments are those in which the water supply/demand ratio during flowering or grain fill was less than 0.66 on a 0-1 scale (1=adequate moisture as determined by Pioneer) using Pioneer's proprietary EnClass system and in which the average yield of the commercially available hybrids was less than 150 bu/acre. Moisture levels were measured at the nearest weather station. Favorable growing conditions are locations where yield levels were at or above 180 bu/acre on average, regardless of moisture levels. Product performance in water-limited environments is variable and depends on many factors such as the severity and timing of moisture deficiency, heat stress, soil type, management practices and environmental stress as well as disease and pest pressures. All hybrids may exhibit reduced yield under water and heat stress. Individual results may vary. 11

12 New Classes of Genetics Visible Improvements in Performance New genetics with improved yield and agronomic performance combined with desired traits deliver customer value and drive continued sales growth New genetics represent about two-thirds of 2013 sales volume IMPACT trials provide leading capability to test, advance and position products for local environments Source: 2012 Pioneer on-farm trial database as of October 23, Customer comparisons based on 2012 yield results including data from weigh wagon, yield monitor and PKP trials compared against all competitors. Includes all new Pioneer hybrids released in 2010, 2011 and 2012 vs. competitor brand hybrids tested in 2010, 2011 and Individual results may vary. All data weighted by comparisons within 4CRM and adjusted to 15% moisture. 12

13 Leader in Soybean Innovation Building a Stream of Innovation Pioneer brand Y Series Soybeans Germplasm advancements including disease resistance produced using AYT System Plenish TM High Oleic Soy Plenish High Oleic Soybeans offering same industry leading yield with improved content Pioneer Soybeans with Next Generation Herbicide Solutions Pioneer Soybeans with Insect Protection New Innovative Varieties Every Year 2012 Intro / Multi Yr Penetration 2 nd Half of Decade / Offering Growers Choice Y series contains Roundup Ready technology. Roundup Ready is a registered trademarks of Monsanto Company. 13

14 Consistent Soybean Performance Over Time Total Soybean Performance with Pioneer Brand Varieties In 2012: Widespread drought stress and reduced disease pressure Competitive Pioneer yield performance as harvest results exceeded earlier estimates Consistent Pioneer brand soybean performance meeting customers expectations In 2011, better conditions and normal disease pressure USDA estimate of 37.8 bu/ac down from 42 bu/ac in 2011 Soybean investment focused on advancing high-yielding varieties with locally relevant disease packages Expanding portfolio of cyst nematode resistant varieties using multiple sources of resistance 2011 and 2012 Yield Results Source: 2012 Pioneer on-farm trial database as of October 23, Customer comparisons based on 2011 and 2012 yield results including data from weigh wagon, yield monitor and PKP trials for all Pioneer brand varieties compared against all competitors. Individual results may vary. All data weighted by comparison within 3RM. All soybean products listed contain the Roundup Ready trait. Roundup Ready is a registered trademark of Monsanto Company. 14

15 2012 Area Top Volume Leaders Package vs. All Competitors Soybeans CE South Dakota Yld. Adv. / % Wins 92Y % 92Y % 92Y % 2.8 mm Acres Northern Illinois Yld. Adv. / % Wins 92Y % 92Y % 92Y % 1.1 mm Acres NW Iowa Yld. Adv. / % Wins 92Y % 92Y % 92Y % 1.9 mm Acres Southern Ohio Yld. Adv. / % Wins 93Y % 93Y % 93Y % 1.8 mm Acres Eastern Kansas Yld. Adv. / % Wins 93Y % 93Y % 94Y % 3.5 mm Acres KY, TN, Northern AL, GA Yld. Adv. / % Wins 93Y % 94Y % 94Y % 1.7 mm Acres Source: 2012 Pioneer on-farm trial database as of October 23, Customer comparisons based on 2012 yield results including data from weigh wagon, yield monitor and PKP trials compared against all competitors in the area indicated. Individual results may vary. All data weighted by comparison within 3RM. All soybean products listed contain the Roundup Ready trait. Roundup Ready is a registered trademark of Monsanto Company. 15

16 The DuPont Oval Logo is a registered trademark of DuPont., SM, TM Trademarks and service marks of Pioneer PHII. Pioneer brand products are provided subject to the terms and conditions of purchase which are part of the labeling and purchase documents. 16