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Syngenta Third Quarter 2009 Sales
PR Newswire
Oct 22, 2009
BASEL, Switzerland, Oct. 23 /PRNewswire-FirstCall/ -- Sales in the third quarter of 2009 were 8 percent lower at constant exchange rates; excluding a decline in glyphosate prices sales were 3 percent lower*. Reported sales were 12 percent lower at $2 billion. In the first nine months of the year, sales were unchanged at constant exchange rates at $8.7 billion.
In Crop Protection third quarter sales were 10 percent lower*; excluding glyphosate pricing sales were 4 percent lower*. In Europe and NAFTA, grower sentiment was subdued in a shorter season with lower pest pressure; credit constraint in Eastern Europe also contributed to a reduction in volume. Latin America saw robust volume growth at the start of the main season supported by higher soybean acres. In Asia-Pacific sales were driven by the launch of new products and by strong growth in fungicides. Overall, prices excluding glyphosate were slightly higher for the quarter and for the first nine months were up by 6 percent.
Crop Protection sales by product line saw an increase in Fungicides and Insecticides led by Latin America and Asia Pacific. Sales of Selective Herbicides were lower primarily due to a product timing issue in France; Non-selective Herbicide performance reflected significantly lower glyphosate prices. Seed Care sales continued their rapid growth in Asia Pacific but were lower in other regions. Professional Products have been affected this year by the economic environment.
Combined sales of new products reached $274 million in the first nine months, an increase of 30 percent*, driven by DURIVO(®), REVUS(®) and AXIAL(®).
Seeds sales increased by 3 percent* in the quarter. For Corn & Soybean volumes in Latin America showed good growth driven by corn in Argentina and soybean in Brazil; in NAFTA returns of soybean were higher following early season acreage uncertainty. Diverse Field Crops and Vegetables grew strongly in all regions, with Vegetables continuing their rapid expansion in Eastern Europe and Asia-Pacific, notably China. Flowers growth reflected the consolidation of acquisitions.
For the full year, Syngenta is targeting earnings per share** close to the record level achieved in 2008.
Syngenta (NYSE: SYT) is one of the world's leading companies with more than 24,000 employees in over 90 countries dedicated to our purpose: Bringing plant potential to life. Through world-class science, global reach and commitment to our customers we help to increase crop productivity, protect the environment and improve health and quality of life. For more information about us please go to www.syngenta.com.
* At constant exchange rates.
** Fully diluted, excluding restructuring and impairment.
Cautionary Statement Regarding Forward-Looking Statements
This document contains forward-looking statements, which can be identified by terminology such as 'expect', 'would', 'will', 'potential', 'plans', 'prospects', 'estimated', 'aiming', 'on track' and similar expressions. Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements. We refer you to Syngenta's publicly available filings with the U.S. Securities and Exchange Commission for information about these and other risks and uncertainties. Syngenta assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors. This document does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer, to purchase or subscribe for any ordinary shares in Syngenta AG, or Syngenta ADSs, nor shall it form the basis of, or be relied on in connection with, any contract therefore.
Unaudited Nine Months Product Line and Regional Sales
9 months 2009 9 months 2008 Actual CER(1)
Syngenta $m $m % %
--------------------------------------------------------------------------
Crop Protection 6609 7429 - 11 - 2
Seeds 2082 2156 - 3 +6
Business Development 7 22 - 69 - 69
Inter-segment elimination(2) (43) (35) - -
--------------------------------------------------------------------------
Third Party Sales 8655 9572 -10 -
--------------------------------------------------------------------------
Crop Protection
--------------------------------------------------------------------------
Product line
Selective Herbicides 1887 2063 - 8 +2
Non-selective Herbicides 961 1101 - 13 - 5
Fungicides 1810 2103 - 14 - 4
Insecticides 995 1089 - 9 -
Seed Care 578 622 - 7 +1
Professional Products 317 387 - 18 - 15
Others 61 64 - 5 -
--------------------------------------------------------------------------
Total 6609 7429 - 11 - 2
--------------------------------------------------------------------------
Regional
Europe, Africa and Middle East 2212 2813 - 21 - 6
NAFTA 2286 2355 - 3 +3
Latin America 1065 1213 - 12 - 12
Asia Pacific 1046 1048 - +10
--------------------------------------------------------------------------
Total 6609 7429 - 11 - 2
--------------------------------------------------------------------------
Seeds
--------------------------------------------------------------------------
Product line
Corn and Soybean 969 958 +1 +7
Diverse Field Crops 374 420 - 11 +9
Vegetables and Flowers 739 778 - 5 +4
--------------------------------------------------------------------------
Total 2082 2156 - 3 +6
--------------------------------------------------------------------------
Regional
Europe, Africa and Middle East 818 984 - 17 +1
NAFTA 974 872 +12 +13
Latin America 156 173 - 10 - 10
Asia Pacific 134 127 +6 +21
--------------------------------------------------------------------------
Total 2082 2156 - 3 +6
--------------------------------------------------------------------------
(1) Growth at constant exchange rates.
(2) Crop Protection inter-segment sales to Seeds.
Unaudited Third Quarter Product Line and Regional Sales
3rd 3rd
Quarter 2009 Quarter 2008 Actual CER(1)
Syngenta $m $m % %
--------------------------------------------------------------------------
Crop Protection 1609 1875 - 14 - 10
Seeds 406 417 - 3 +3
Business Development 2 2 - 32 - 31
Inter-segment elimination(2) (17) (17) - -
--------------------------------------------------------------------------
Third Party Sales 2000 2277 - 12 - 8
--------------------------------------------------------------------------
Crop Protection
--------------------------------------------------------------------------
Product line
Selective Herbicides 272 384 - 29 - 25
Non-selective Herbicides 270 362 - 25 - 21
Fungicides 454 454 - +5
Insecticides 322 310 +4 +9
Seed Care 186 234 - 20 - 14
Professional Products 92 98 - 7 - 7
Others 13 33 - 59 - 64
--------------------------------------------------------------------------
Total 1609 1875 - 14 - 10
--------------------------------------------------------------------------
Regional
Europe, Africa and Middle
East 402 563 - 29 - 19
NAFTA 404 505 - 20 - 18
Latin America 515 515 - -
Asia Pacific 288 292 - 1 +4
--------------------------------------------------------------------------
Total 1609 1875 - 14 - 10
--------------------------------------------------------------------------
Seeds
--------------------------------------------------------------------------
Product line
Corn and Soybean 126 144 - 13 - 13
Diverse Field Crops 70 67 +6 +20
Vegetables and Flowers 210 206 +2 +8
--------------------------------------------------------------------------
Total 406 417 - 3 +3
--------------------------------------------------------------------------
Regional
Europe, Africa and Middle
East 159 173 - 8 +4
NAFTA 94 99 - 6 - 5
Latin America 115 107 +7 +7
Asia Pacific 38 38 +1 +9
--------------------------------------------------------------------------
Total 406 417 - 3 +3
--------------------------------------------------------------------------
(1) Growth at constant exchange rates.
(2) Crop Protection inter-segment sales to Seeds.
Syngenta International AG
Media Office
CH-4002 Basel
Switzerland
Tel: +41 61 323 23 23
Fax: +41 61 323 24 24
www.syngenta.com
Media contacts:
Medard Schoenmaeckers
Switzerland +41 61 323 2323
Analyst/Investor contacts:
Jennifer Gough
Switzerland +41 61 323 5059
USA +1 202 737 6521
John Hudson
Switzerland +41 61 323 6793
USA +1 202 737 6520
SOURCE Syngenta
Copyright (2009) PR Newswire. All Rights Reserved.
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