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Management’s Analysis

Q1.2007

Sales up 17%
EBIT before special items up 13%
Earnings jump in the Chemicals segment
Acquisitions make significant contribution to rise in earnings
Earnings per share up 11%

Q2.2007

Sales up 19%
EBIT before special items up 6%
Strongest sales and earnings growth in the Chemicals segment
Earnings jump in Agricultural Products thanks to cost reduction measures
Earnings per share up 14% compared with same quarter in 2006

Q3.2007

Sales up 5%
EBIT before special items up 6%
EBIT up 17% as a result of lower special charges
Earnings per share more than doubled

Q4.2007

Sales up 2%
EBIT before special items down 6%
Net income up 2%
Earnings per share up 13%