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Press release from PR Newswire

Syngenta Third Quarter 2010 Sales

Thursday, October 14, 2010

Syngenta Third Quarter 2010 Sales01:00 EDT Thursday, October 14, 2010BASEL, Switzerland, Oct. 14 /PRNewswire-FirstCall/ --Sales up 11 percent at constant exchange ratesCrop Protection: growth across all product lines, all regionsContinuing strong performance in Latin AmericaUpturn in Northern hemisphere marketsTechnology success in SeedsFull year guidance maintainedSales 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 Statement Regarding Forward-Looking StatementsThis 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 SalesSyngentaQ3 2010$mQ3 2009$mActual%CER(1)%Crop Protection17631609+ 10+ 11Seeds442406+ 9+ 12Business Development 32nanaInter-segment elimination(2)- 9- 17--Total21992000+ 10+ 11Crop ProtectionProduct lineSelective Herbicides302272+ 11+ 15Non-selective Herbicides276270+ 2+ 2Fungicides503454+ 11+ 11Insecticides337322+ 5+ 5Seed Care202186+ 9+ 13Professional Products9792+ 7+ 5Others4613nanaTotal17631609+ 10+ 11RegionalEurope, Africa and Middle East422402+ 5+ 14NAFTA424404+ 5+ 4Latin America590515+ 15+ 15Asia Pacific327288+ 13+ 9Total17631609+ 10+ 11SeedsProduct lineCorn & Soybean154126+ 23+ 22Diverse Field Crops6870- 3+ 2Vegetables156139+ 12+ 15Flowers6471- 9- 4Total442406+ 9+ 12RegionalEurope, Africa and Middle East158159-+ 8NAFTA12294+ 31+ 31Latin America112115- 3- 3Asia Pacific5038+ 31+ 26Total442406+ 9+ 12(1)  Growth at constant exchange rates.(2)  Crop Protection inter-segment sales to Seeds.Unaudited Nine Months Product Line and Regional SalesSyngenta9 months 2010$m9 months 2009$mActual%CER(1)%Crop Protection67596609+ 2-Seeds22052082+ 6+ 4Business Development 87nanaInter-segment elimination(2)- 33- 43--Total89398655+ 3+ 1Crop ProtectionProduct lineSelective Herbicides19221887+ 2- 2Non-selective Herbicides824961- 14- 17Fungicides19911810+ 10+ 7Insecticides1037995+ 4+ 2Seed Care571578- 1- 2Professional Products339317+ 7+ 4Others7561nanaTotal67596609+ 2-RegionalEurope, Africa and Middle East22122212-- 2NAFTA20862286- 9- 12Latin America13001065+ 22+ 22Asia Pacific11611046+ 11+ 4Total67596609+ 2-SeedsProduct lineCorn & Soybean960969- 1- 3Diverse Field Crops454374+ 21+ 16Vegetables516461+ 12+ 11Flowers275278- 1- 2Total22052082+ 6+ 4RegionalEurope, Africa and Middle East920818+ 12+ 9NAFTA948974- 3- 3Latin America174156+ 11+ 11Asia Pacific163134+ 22+ 15Total22052082+ 6+ 4(1)  Growth at constant exchange rates.(2)  Crop Protection inter-segment sales to SeedsSyngenta International AGMedia contact:Analyst/Investor contacts:Media OfficeMedard Schoenmaeckers Jennifer GoughCH-4002 BaselSwitzerland +41 61 323 2323 Switzerland +41 61 323 5059SwitzerlandUSA +1 202 737 6521Tel:  +41 61 323 23 23Fax: +41 61 323 24 24www.syngenta.comSOURCE SyngentaFor further information: Media: Medard Schoenmaeckers, Switzerland, +41-61-323-2323, Analyst/Investor: Jennifer Gough, Switzerland, +41-61-323-5059, or USA +1-202-737-6521