1st Quarter Trading Statement
29 Abril 2003 - 4:03AM
UK Regulatory
RNS Number:4793K
Syngenta AG
29 April 2003
Media Release - Communique aux Medias - Medienmitteilung
First Quarter Trading Statement 2003
Basel, Switzerland, April 29, 2003
Sales in the first quarter of 2003 increased by 8% to $2 billion (2002: $1.84
billion), reflecting a positive impact from the further weakening of the dollar.
At constant exchange rates sales were 1% lower.
In Crop Protection, sales at constant exchange rates were 2% lower. Regional
performance for Europe, Africa and the Middle East was affected by competition
in fungicides in France, while performance in Germany was stable. In NAFTA,
sales advanced in both Canada and the USA, with notable progress across all
product lines except non-selective herbicides. In Latin America there was a
marked recovery in Brazil and ongoing growth in Argentina. Asian sales were
impacted by a decline in South Korea.
Growth in new products contributed $116 million to sales, driven by
CALLISTO(R), which tripled, reflecting the success of new combinations and
underpinning performance in the US selective herbicide market. In insecticides,
ACTARA(R) and CRUISER(R) also registered strong progress. Range
rationalization resulted in a negative sales impact of $20 million.
Seeds sales rose by 3% at constant exchange rates. Corn sales in the USA
benefited from early spring shipments. Vegetables continued their strong growth
in Europe and Flowers performed well in both NAFTA and Europe due to
distribution chain improvements and new products.
For the full year sales are expected to benefit from ongoing recovery in Brazil
and Argentina, as well as growth in new products. Cash flow generation will
remain strong with improved business performance delivering increased EBITDA and
significant earnings per share growth, notwithstanding the constraining effects
of currency movements on the EBITDA margin.
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
Lori Captain (USA) + 1 (302) 425 2121
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 First Quarter Product Line and Regional Sales
Syngenta 1st Quarter 1st Quarter Actual(1) CER(1)
2003 2002 % %
$m $m
Crop Protection 1570 1472 + 7 - 2
Seeds 429 372 + 15 + 3
Total 1999 1844 + 8 - 1
Crop Protection
Product line
Selective herbicides 565 534 + 6 - 2
Non-selective herbicides 146 151 - 3 - 9
Fungicides 424 398 + 7 - 6
Insecticides 218 194 + 12 + 4
Professional products 169 150 + 12 + 7
Others 48 45 + 6 - 13
Total 1570 1472 + 7 - 2
Regional
Europe, Africa and Middle East 670 609 + 10 - 8
NAFTA 562 547 + 3 + 2
Latin America 110 96 + 15 + 15
Asia Pacific 228 220 + 4 - 5
Total 1570 1472 + 7 - 2
Seeds
Product line
Field Crops 274 240 + 14 + 2
Vegetables and Flowers 155 132 + 18 + 6
Total 429 372 + 15 + 3
Regional
Europe, Africa and Middle East 244 197 + 24 + 2
NAFTA 171 157 + 9 + 9
Latin America 2 6 - 72 - 72
Asia Pacific 12 12 + 2 - 7
Total 429 372 + 15 + 3
(1) CER = constant exchange rate. Product line variances take into account
minor reclassifications made in 2003.
This information is provided by RNS
The company news service from the London Stock Exchange
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