Syngenta First Quarter Trading Statement 2001
BASEL, Switzerland, May 10 /PRNewswire/ -- Sales for the first quarter of 2001 were $1.91 billion compared with exceptionally strong sales of $2.17 billion for the first quarter of 2000. At constant exchange rates sales were 8% lower with Crop Protection down 10% and Seeds down 2%. Changes in exchange rates reduced reported sales by 4%. Strong cost control, coupled with planned progress in realizing synergy projects, has resulted in margins at the same level as the first quarter last year. As already signaled in March, a slow start to the 2001 season with prolonged adverse weather conditions reduced early demand for Crop Protection products, particularly cereal fungicides in Europe. A projected 4% decline in US corn acreage affected both Crop Protection and Seeds. Selling prices remained broadly stable in the first quarter compared with the previous year. With the northern hemisphere season now under way, some recovery in the sales trend is expected during the remainder of the year. New product introductions are proceeding according to plan, including the launch of the new corn herbicide CALLISTO(R). Syngenta (NYSE: SYT) is the world's leading agribusiness. The company ranks first in crop protection, and third in the high-value commercial seeds market. Pro forma sales in 2000 were approximately US $6.9 billion. Syngenta employs more than 20,000 people in over 50 countries. The company is committed to sustainable agriculture through innovative Research and Technology. Formed in November 2000 by the merger of Novartis Agribusiness and Zeneca Agrochemicals, Syngenta is listed on the Swiss stock exchange, and in London, New York and Stockholm. Further information is available at www.syngenta.com. 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 Analysis Syngenta 1st Quarter 1st Quarter 2001 2000(1) Actual CER(2) $m $m % % Crop Protection 1518 1767 - 14 - 10 Seeds 387 401 -4 -2 Total 1905 2168 - 12 -8 Crop Protection Product line Selective herbicides 566 626 - 10 -6 Non-selective herbicides 170 200 - 15 - 10 Fungicides 408 515 - 21 - 15 Insecticides 219 259 - 15 -9 Professional products 119 133 - 11 -8 Others 36 34 +5 + 5 Total 1518 1767 - 14 - 10 Regional Europe, Africa and Middle East 628 748 - 16 - 10 NAFTA 551 593 -7 -7 Latin America 95 121 - 22 - 20 Asia Pacific 244 305 - 20 - 11 Total 1518 1767 - 14 - 10 Seeds Product line Field Crops 261 274 -5 -3 Vegetables and Flowers 126 127 -1 + 2 Total 387 401 -4 -2 Regional Europe, Africa and Middle East 193 197 -2 + 3 NAFTA 169 179 -6 -6 Latin America 12 11 +13 +13 Asia Pacific 13 14 - 10 -4 Total 387 401 -4 -2 1) Unaudited pro forma 2) Constant exchange rates Syngenta Conference Call Alert Richard Steiblin, Chief Financial Officer of Syngenta, will host a conference call to discuss the Company's first quarter 2001 sales, TODAY, Thursday, May 10, 2001, at 10:00 AM EDT. To participate in the conference call, dial 913-981-5507/confirmation code 696270, shortly before 10:00 AM EDT. A replay of the conference call will be available beginning at 1:00 PM, EDT on Thursday, May 10, 2001 through midnight, Wednesday, May 16, 2001. To access the conference call replay, please dial 719-457-0820. If you have any questions, please contact Rhonda Chiger at 917-322-2569. Syngenta is the world's leading agribusiness. The company ranks first in crop protection, and third in the high-value commercial seeds market. Pro forma sales in 2000 were approximately US $6.9 billion. Syngenta employs more than 20,000 people in over 50 countries. The company is committed to sustainable agriculture through innovative Research and Technology. Formed in November 2000 by the merger of Novartis Agribusiness and Zeneca Agrochemicals, Syngenta is listed on the Swiss stock exchange, and in London, New York and Stockholm. Further information is available at www.syngenta.com. Analyst/Investor Enquiries: Jennifer Gough (Switzerland) +41 61 323 5059 Elizabeth Sutton (UK) +44 (0) 1428 655386 Rhonda Chiger (USA) + 1 (917) 322 2569 Media Enquiries: O'Patrick Wilson (Switzerland) +41 61 323 2323 Judith Auchard (UK) +44 (0) 1428 655827 Lori Captain (USA) + 1 (302) 476 2184 MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X44889428
SOURCE Syngenta International AG
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