Syngenta Third Quarter 2010 Sales

Oct 14, 2010, 01:00 ET from Syngenta

BASEL, Switzerland, Oct. 14 /PRNewswire-FirstCall/ --

  • Sales up 11 percent at constant exchange rates
  • Crop Protection: growth across all product lines, all regions
  • Continuing strong performance in Latin America
  • Upturn in Northern hemisphere markets
  • Technology success in Seeds
  • Full year guidance maintained

Sales in the third quarter of 2010 increased by 11 percent at constant exchange rates; reported sales were 10 percent higher at $2.2 billion.  In the first nine months of the year, sales were up 1 percent at constant exchange rates at $8.9 billion.

In Crop Protection, third quarter sales volume increased by 18 percent, with strong growth across all product lines and all regions.  Prices were 7 percent lower and 5 percent lower excluding glyphosate, an improved performance compared with the second quarter.  In Europe, growth in most major markets was driven by Herbicides and by Seed Care.  NAFTA saw sustained volume momentum across the portfolio, more than offsetting lower prices notably for glyphosate.  Latin America continued to deliver an excellent performance, particularly in Argentina where sales were up by more than 40 percent.  In Brazil, moisture levels improved towards the end of September resulting in a good start to planting.  Growth in Asia-Pacific accelerated, driven by the emerging markets.

Growth in Selective Herbicides was led by CALLISTO® in North America and by sales on oilseed rape in Europe.  Modest growth in Non-selective Herbicides was due largely to strong volume growth in TOUCHDOWN® in the Americas, more than offsetting price weakness.  Fungicide growth was led by AMISTAR® in Latin America, where sales were up by more than 50 percent.  Growth in Insecticides was driven by ACTARA® and DURIVO®.  Seed Care sales improved with a strong performance by CRUISER® in Europe and Latin America.  In Professional Products, turf and ornamentals showed a recovery in an improved economic environment.

Combined sales of new products reached $338 million in the first nine months of the year, an increase of 16 percent.  The main drivers were DURIVO® and REVUS®, which are being launched in additional markets.

Seeds sales increased by 12 percent in the third quarter.  Volume increased by 4 percent and prices were 8 percent higher.  Sales of Corn & Soybean were up by more than 20 percent led by the USA, reflecting a positive market reaction to an enhanced portfolio.  Sales of Diverse Field Crops increased slightly due to the consolidation of the recent sunflower acquisition.  Vegetables showed double digit growth in all regions reflecting the breadth of the range and expansion into emerging markets.

Mike Mack, Chief Executive Officer, said:

"The third quarter performance confirms our expectation of continuing positive volume momentum in the second half of 2010.  This, coupled with careful control of costs and increasing profitability in Seeds, should allow us to achieve full year operating income around last year's level.  As we look ahead to 2011, we are in a strong position to capture value from improving conditions in the crop protection market and from the significant advances in our Seeds technology."

Syngenta is one of the world's leading companies with more than 25,000 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.



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 Third Quarter Product Line and Regional Sales


Syngenta

Q3 2010
$m

Q3 2009
$m

Actual
%

CER(1)
%


Crop Protection

1763

1609

+ 10

+ 11


Seeds

442

406

+ 9

+ 12


Business Development

3

2

na

na


Inter-segment elimination(2)

- 9

- 17

-

-


Total

2199

2000

+ 10

+ 11







Crop Protection





Product line






Selective Herbicides

302

272

+ 11

+ 15


Non-selective Herbicides

276

270

+ 2

+ 2


Fungicides

503

454

+ 11

+ 11


Insecticides

337

322

+ 5

+ 5


Seed Care

202

186

+ 9

+ 13


Professional Products

97

92

+ 7

+ 5


Others

46

13

na

na


Total

1763

1609

+ 10

+ 11

Regional






Europe, Africa and Middle East

422

402

+ 5

+ 14


NAFTA

424

404

+ 5

+ 4


Latin America

590

515

+ 15

+ 15


Asia Pacific

327

288

+ 13

+ 9


Total

1763

1609

+ 10

+ 11







Seeds





Product line






Corn & Soybean

154

126

+ 23

+ 22


Diverse Field Crops

68

70

- 3

+ 2


Vegetables

156

139

+ 12

+ 15


Flowers

64

71

- 9

- 4


Total

442

406

+ 9

+ 12

Regional






Europe, Africa and Middle East

158

159

-

+ 8


NAFTA

122

94

+ 31

+ 31


Latin America

112

115

- 3

- 3


Asia Pacific

50

38

+ 31

+ 26


Total

442

406

+ 9

+ 12



(1)  Growth at constant exchange rates.

(2)  Crop Protection inter-segment sales to Seeds.



Unaudited Nine Months Product Line and Regional Sales


Syngenta

9 months 2010
$m

9 months 2009
$m

Actual
%

CER(1)
%


Crop Protection

6759

6609

+ 2

-


Seeds

2205

2082

+ 6

+ 4


Business Development

8

7

na

na


Inter-segment elimination(2)

- 33

- 43

-

-


Total

8939

8655

+ 3

+ 1







Crop Protection





Product line






Selective Herbicides

1922

1887

+ 2

- 2


Non-selective Herbicides

824

961

- 14

- 17


Fungicides

1991

1810

+ 10

+ 7


Insecticides

1037

995

+ 4

+ 2


Seed Care

571

578

- 1

- 2


Professional Products

339

317

+ 7

+ 4


Others

75

61

na

na


Total

6759

6609

+ 2

-

Regional






Europe, Africa and Middle East

2212

2212

-

- 2


NAFTA

2086

2286

- 9

- 12


Latin America

1300

1065

+ 22

+ 22


Asia Pacific

1161

1046

+ 11

+ 4


Total

6759

6609

+ 2

-







Seeds





Product line






Corn & Soybean

960

969

- 1

- 3


Diverse Field Crops

454

374

+ 21

+ 16


Vegetables

516

461

+ 12

+ 11


Flowers

275

278

- 1

- 2


Total

2205

2082

+ 6

+ 4

Regional






Europe, Africa and Middle East

920

818

+ 12

+ 9


NAFTA

948

974

- 3

- 3


Latin America

174

156

+ 11

+ 11


Asia Pacific

163

134

+ 22

+ 15


Total

2205

2082

+ 6

+ 4



(1)  Growth at constant exchange rates.

(2)  Crop Protection inter-segment sales to Seeds



Syngenta International AG

Media contact:

Analyst/Investor contacts:




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Medard Schoenmaeckers

Jennifer Gough

CH-4002 Basel

Switzerland +41 61 323 2323

Switzerland +41 61 323 5059

Switzerland


USA +1 202 737 6521

Tel:  +41 61 323 23 23



Fax: +41 61 323 24 24






www.syngenta.com





SOURCE Syngenta



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