3rd Quarter Trading Statement
October 22 2003 - 3:01AM
UK Regulatory
RNS Number:1617R
Syngenta AG
22 October 2003
Media Release - Communique aux Medias - Medienmitteilung
Third Quarter Trading Statement 2003
Basel, Switzerland, October 22, 2003
Sales in the third quarter of 2003 increased by 3% at constant exchange rates
(CER). Reported sales rose 7% to $1.2bn (2002: $1.1bn), reflecting the positive
impact of US dollar weakness. Sales for the first nine months at $5.3bn were 2%
lower (CER).
Crop Protection sales (CER) in the third quarter were unchanged. NAFTA delivered
a robust performance notably in selective herbicides, reflecting continued
success of the broad corn portfolio; insecticides also performed well. European
sales in the quarter followed the pattern of the first half as extremely dry
conditions continued to adversely impact fungicides. Latin America delivered
strong growth driven by ongoing progress in Brazil and Argentina. Further
de-stocking in China combined with timing differences in Japan sales reduced
sales in Asia-Pacific. Broad-based growth was achieved in professional products
led by the continuing success of seed treatments.
Growth in sales of new products in the quarter was $27m (CER); total sales of
new products for the first nine months reached $400m. The impact of range
rationalization in the quarter amounted to $19m (CER), bringing the nine month
total to $89m.
Seeds sales (CER) increased by 25% driven by growth across the portfolio.
Notable performances were achieved in vegetables and oilseeds in Europe and in
corn in Latin America.
For the full year 2003, business performance is expected to deliver an increase
in EBITDA and significant growth in earnings per share. The full year impact of
currency movements on EBITDA is expected to be broadly neutral.
Syngenta is a world-leading agribusiness committed to sustainable agriculture
through innovative research and technology. The company is a leader in crop
protection and ranks third in the high-value commercial seeds market. Sales in
2002 were approximately US $6.2 billion. Syngenta employs some 20,000 people in
over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in
London (SYA), New York (SYT) and Stockholm (SYN). Further information is
available at www.syngenta.com.
Analyst/Investor Enquiries: Jonathan Seabrook (Switzerland) +41 61 323 7502
Jennifer Gough (Switzerland) +41 61 323 5059
Rhonda Chiger (USA) + 1 (917) 322 2569
Media Enquiries: O'Patrick Wilson (Switzerland) +41 61 323 2323
Judith Auchard (UK) +44 (0) 1483 260184
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
Syngenta 9 Months 2003 9 Months 2002 Actual CER(1) Ex RR(2)
$m $m % % %
Crop Protection 4386 4237 + 4 - 3 - 1
Seeds 892 764 + 17 + 6 + 6
Total 5278 5001 + 6 - 2 -
Crop Protection
Product line
Selective herbicides 1432 1326 + 8 + 2 + 3
Non-selective herbicides 509 540 - 6 - 10 - 10
Fungicides 1122 1103 + 2 - 7 - 6
Insecticides 718 678 + 6 - + 4
Professional products 499 459 + 8 + 3 + 5
Others 106 131 - 19 - 29 - 23
Total 4386 4237 + 4 - 3 - 1
Regional
Europe, Africa and Middle East 1677 1552 + 8 - 8 - 4
NAFTA 1634 1626 + 1 - + 1
Latin America 471 419 + 13 + 13 + 14
Asia Pacific 604 640 - 6 - 11 - 8
Total 4386 4237 + 4 - 3 - 1
Seeds
Product line
Field Crops 488 415 + 18 + 7 + 7
Vegetables and Flowers 404 349 + 16 + 5 + 5
Total 892 764 + 17 + 6 + 6
Regional
Europe, Africa and Middle East 486 387 + 26 + 6 + 6
NAFTA 308 295 + 5 + 4 + 4
Latin America 55 46 + 20 + 20 + 20
Asia Pacific 43 36 + 17 + 10 + 10
Total 892 764 + 17 + 6 + 6
(1) Growth at constant exchange rates.
(2) Growth at constant exchange rates excluding the effects of range
rationalization.
Unaudited Third Quarter Product Line and Regional Sales
Syngenta 3rd Quarter 2003 3rd Quarter 2002 Actual CER(1) Ex RR(2)
$m $m % % %
Crop Protection 1016 981 + 4 - + 2
Seeds 157 118 + 34 + 25 + 25
Total 1173 1099 + 7 + 3 + 4
Crop Protection
Product line
Selective herbicides 245 201 + 22 + 18 + 21
Non-selective herbicides 145 159 - 9 - 12 - 12
Fungicides 224 232 - 3 - 6 - 4
Insecticides 212 198 + 7 + 4 + 7
Professional products 171 155 + 10 + 4 + 6
Others 19 36 - 48 - 52 - 52
Total 1016 981 + 4 - + 2
Regional
Europe, Africa and Middle East 342 334 + 2 - 7 - 5
NAFTA 289 248 + 17 + 17 + 18
Latin America 228 209 + 9 + 9 + 10
Asia Pacific 157 190 - 17 - 20 - 17
Total 1016 981 + 4 - + 2
Seeds
Product line
Field Crops 58 34 + 75 + 64 + 64
Vegetables and Flowers 99 84 + 17 + 9 + 9
Total 157 118 + 34 + 25 + 25
Regional
Europe, Africa and Middle East 92 71 + 30 + 16 + 16
NAFTA 22 25 - 10 - 9 - 9
Latin America 30 13 + 134 + 134 + 134
Asia Pacific 13 9 + 45 + 37 + 37
Total 157 118 + 34 + 25 + 25
(1) Growth at constant exchange rates.
(2) Growth at constant exchange rates excluding the effects of range
rationalization.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTMTBATMMATMAJ