SYT » Topics » Earnings per share

This excerpt taken from the SYT 6-K filed Feb 8, 2007.
Earnings per share, excluding restructuring and impairment rose 14 percent to $8.73. The increase was driven by higher operating income and a reduction in net financial expense helped by currency exchange gains. After charges for restructuring and impairment, earnings per share were $6.35 (2005: $6.13) .

This excerpt taken from the SYT 20-F filed Mar 1, 2006.

Earnings per share

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computation for the years ended December 31, 2005, 2004 and 2003.








Numerator:   2005   2004   2003







Net income/(loss) attributable to Syngenta AG shareholders (US$ million)   556   352   250
Denominator:      
Weighted–average number of shares– basic   100,017,271   105,208,929   101,682,672
Adjustments for dilutive potential ordinary shares:      
Grants of options over Syngenta AG shares   1,023,052   672,031   62,069
Grants of Syngenta AG shares   204,763   134,409   55,158







Weighted–average number of shares–diluted   101,245,086   106,015,369   101,799,899







The following numbers of potential shares outstanding at the years ended December 31, 2005, 2004 and 2003 have not been included in the computation of diluted earnings per share, because the effect would have been antidilutive:








  2005   2004   2003







Grants of options over Syngenta AG shares to employees   429,188    
Grants of Syngenta AG shares to employees   101,250    
Share repurchase options     4,500,000  







The above potential shares may cause dilution of earnings per share in the future.        

The weighted-average diluted number of shares is lower than the corresponding IFRS number because, for US GAAP, in accordance with SFAS 123(R), the hypothetical share issuance proceeds that Syngenta would have received if all options outstanding during the period had been exercised, must include the excess tax benefits that Syngenta would have received from claiming related tax deductions based on the average share price during the period. For IFRS, the calculation of the hypothetical share issuance proceeds does not include this tax benefit in accordance with IFRS 2. For this reason, the dilutive effect of these options is lower in the US GAAP calculation.

This excerpt taken from the SYT 6-K filed Feb 14, 2006.
Earnings per share, excluding restructuring and impairment rose 31 percent to $7.67; excluding the goodwill adjustment for IFRS 3, earnings per share were up 20 percent. After charges for restructuring and impairment, earnings per share were $6.13 (2004: $4.34) .

This excerpt taken from the SYT 6-K filed Jul 28, 2005.
Earnings per share, excluding restructuring and impairment, and the one-off tax credit in 2004, were up 25 percent to $9.54; excluding the adjustment for IFRS3, earnings per share were up 21 percent. After charges for restructuring and impairment earnings per share were $8.92 (2004: $7.34).

This excerpt taken from the SYT 20-F filed Mar 16, 2005.

Earnings per share

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computation for the years ended December 31, 2004, 2003 and 2002.


(US$ million) 2004   2003   2002

Numerator:    
Net income/(loss) attributable to Syngenta AG shareholders 352   250   (198 )
Denominator:    
Weighted-average number of shares basic 105,208,929   101,682,672   101,541,119
Adjustments for dilutive potential ordinary shares:    
Grants of options over Syngenta AG shares 672,031   62,069  
Grants of Syngenta AG shares 134,409   55,158  

Weighted-average number of shares-diluted 106,015,369   101,799,899   101,541,119

An option over 4.5 million ordinary shares with an exercise price of CHF 138 per share was outstanding as from February 10, 2004 and remained outstanding as of December 31, 2004. It has been excluded from the computation of diluted earnings per share as its effect would have been antidilutive.

Options to purchase 1.7 million ordinary shares with exercise prices ranging from CHF 76.5 to CHF 98.0 per share were outstanding during 2003, but were excluded from the computation of diluted earnings per share, as their effect would have been antidilutive. In 2002, as a net loss was incurred, all options outstanding were considered antidilutive for US GAAP.

This excerpt taken from the SYT 6-K filed Feb 15, 2005.
Earnings per share, excluding restructuring and impairment and a one-off tax benefit, were up 76 percent to $5.87. After charges for restructuring and impairment earnings per share were $4.34 (2003: $2.45) . In addition to the improvement in operating income, the increase reflects lower net financial expense as well as a lower underlying tax rate.

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