Syngenta Third Quarter Trading Statement 2006
Basel, Switzerland, 20 October 2006 - Sales in the third quarter of 2006 increased by 1% to $1.41bn (2005: $1.39bn); at constant exchange rates (CER) sales were unchanged. For the first nine months sales were 1% lower (CER) at $6.61bn.
In Crop Protection, third quarter sales rose 2% (CER). In the low season in the northern hemisphere, sales in Europe, Africa and the Middle East were higher with further growth in Eastern Europe; in NAFTA sales were lower reflecting a challenging environment in the USA. Growth slowed somewhat in Latin America in difficult market conditions in Brazil. Broad based growth was achieved in Asia Pacific.
For the first nine months, sales of new products rose 20% to $784 million. In the quarter, fungicides sales were higher following an inventory adjustment in the USA in 2005; lower sales of selective herbicides reflected timing differences between the last two quarters; insecticides sales were lower in comparison with a strong performance last year. In Professional Products, Conrad Fafard, Inc. was consolidated in the quarter.
Seeds sales were 5% lower in the quarter. In Corn & Soybean, higher corn sales in the USA were more than offset by lower soybean sales due to end of season channel adjustments; sales in Latin America were lower primarily due to reduced acreage in Brazil. Diverse Field Crops again generated strong growth, notably in Eastern Europe. Vegetables and Flowers also delivered a good performance driven, in particular, by the expanding demand for fresh produce in NAFTA and double digit growth in the developing markets of Asia Pacific.
For the full year 2006, the company continues to target double digit growth in earnings per share*.
* Fully diluted, before restructuring, impairment and share repurchase program. PDF version (67KB): www.syngenta.com/NR/rdonlyres/CDC8F465-360B-49D0-B96E-DFE149CF2AD9/2510/Q3_release_EN_201006.pdf
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 2005 were approximately $8.1 billion. Syngenta employs more than 19,000 people in over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York (SYT). Further information is available at www.syngenta.com.
Cautionary Statement Regarding Forward-Looking Statements
This document contains forwarding-looking statements, which can be identified by terminology such as ‘expect’, ‘would’, ‘will’, ‘potential’, ‘plans’, ‘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 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 issues, 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 a connection with, any contract therefor.
- Contact Information
- Sarah Hull
- Media Enquiries
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.