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Press release from PR Newswire

Syngenta Third Quarter 2011: Sales Up 21 Percent at $2.7 Billion

Friday, October 14, 2011

Syngenta Third Quarter 2011: Sales Up 21 Percent at $2.7 Billion00:56 EDT Friday, October 14, 2011BASEL, Switzerland, Oct. 14, 2011 /PRNewswire/ -- Sales at constant exchange rates up 16 percentGood start to Latin American seasonContinued Northern hemisphere momentumCrop Protection prices up 3 percentSales in the third quarter of 2011 increased by 16 percent at constant exchange rates. Volume expanded by 13 percent, representing the sixth consecutive quarter of double digit growth, and prices rose 3 percent. In the first nine months of the year, sales were up 13 percent at constant exchange rates at $10.4 billion.Integrated Crop Protection and Seeds performance*In Latin America, our leading offers enabled growth of 27 percent across the portfolio. A robust soybean crop price and the expectation of lower production in the USA are leading to increased investment by soybean growers in Brazil and Argentina. Corn sales were also up strongly with rapid adoption of both herbicides and traits. In Europe, Africa and the Middle East, sales increased by 10 percent led by France and the CIS. Expansion of the range is reinforcing our market-leading positions in both Russia and Ukraine. In North America, sales increased by 10 percent with broad-based volume growth in crop protection and slightly higher pricing. Seeds sales in the low season included normalized end-of-season rebates which compared with a positive adjustment in the third quarter of 2010. In Asia Pacific, where sales increased by 13 percent, robust growth in crop protection more than offset higher seeds returns in South East Asia. Product line sales*Strong growth in Selective Herbicides was driven by Latin America and by early orders in the USA, where solutions for weed resistance in corn and soybean are increasingly in demand. Non-selective Herbicides sales increased reflecting higher TOUCHDOWN® sales in Latin America and the expansion of REGLONE® in the CIS. In Fungicides, the largest contribution came from the rapid expansion of usage in the emerging markets of Asia Pacific; in the USA, recognition of crop enhancement effects led to strong growth. Insecticides growth was led by ACTARA® and by the DURIVO® family, which is expanding rapidly in Latin America and is now launched on vegetables in China. Sales of Professional Products increased by 4 percent, with market share gains in Asia Pacific and in the consumer segment in Europe. Combined sales of new Crop Protection products reached $484 million in the first nine months, an increase of 39 percent. Growth in Corn & Soybean seeds was driven by Latin America, where investment in corn is increasing and we are seeing strong acceptance of our enhanced portfolio, including the VIPTERA? trait. Sales of soybean seeds in Latin America more than doubled with the launch of new varieties and integrated solutions. Diverse Field Crops continued to show strong growth driven by sunflower in Argentina, with the acquisition of Maribo in sugar beet contributing 2 percent. Vegetables continued their track record of strong growth with expansion in all key crops.Mike Mack, Chief Executive Officer, said: "In the third quarter of 2011, positive volume momentum continued and crop protection pricing improved as a result of the actions we have implemented. Our performance reflects the breadth of our portfolio, augmented by rapid growth in new crop protection products and the expansion of our corn trait coverage. In addition we expect the launch of integrated offers, such as our solutions for soybean in Latin America, to further reinforce our market positions. "For the full year we expect substantial top line growth, higher profitability at constant exchange rates and a significant increase in free cash flow."*Growth at constant exchange ratesSyngenta is one of the world's leading companies with more than 26,000 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.Syngenta International AG  Media OfficeCH-4002 BaselSwitzerlandTel:       +41 61 323 23 23Fax:       +41 61 323 24   Media contacts:  Medard Schoenmaeckers   Switzerland       +41 61 323 2323     Michael Edmond  Isaac  Switzerland       +41 61 323 2323Analyst/Investor contacts:Jennifer GoughSwitzerland       +41 61 323 5059USA                  +1 202 737 6521Claire HinshelwoodSwitzerland       +41 61 323 7812USA                  +1 202 737 6520Unaudited Third Quarter Product Line and Regional SalesQ3 2011   Q3 2010   Actual   CER   Syngenta$m   $m   %   %   Crop Protection21761763+ 23+ 19Seeds500442+ 13+ 8Business Development03n/an/aInter-segment elimination-13-9n/an/aTotal26632199+ 21+ 16Crop ProtectionProduct lineSelective herbicides453302+ 50+ 43Non-selective herbicides321276+ 17+ 13Fungicides565503+ 12+ 9Insecticides436337+ 29+ 26Seed Care256202+ 27+ 20Professional products10897+ 10+ 4Others3746- 18- 21Total21761763+ 23+ 19Regional(1)Europe, Africa and Middle East530419+ 26+ 14North America467381+ 23+ 21Latin America776636+ 22+ 21Asia Pacific403327+ 23+ 16Total21761763+ 23+ 19SeedsProduct lineCorn & Soybean175154+ 14+ 13Diverse Field Crops8468+ 25+ 15Vegetables174156+ 11+ 6Flowers6764+ 4- 4Total500442+ 13+ 8Regional(1)Europe, Africa and Middle East178158+ 13+ 2North America85116- 27- 27Latin America187118+ 60+ 59Asia Pacific5050- 2- 7Total500442+ 13+ 8(1) Mexico sales reported in Latin America (previously NAFTA).Unaudited Nine Months Product Line and Regional SalesSyngenta 9 months 2011    9 months 2010   Actual   CER   $m   $m   %   %   Crop Protection78106759+ 16+ 12Seeds25922205+ 18+ 15Business Development18n/an/aInter-segment elimination-38-33n/an/aTotal103658939+ 16+ 13Crop ProtectionProduct lineSelective herbicides22001922+ 14+ 11Non-selective herbicides886824+ 8+ 4Fungicides22941991+ 15+ 12Insecticides12941037+ 25+ 21Seed Care686571+ 20+ 15Professional products375339+ 11+ 5Others7575-- 4Total78106759+ 16+ 12Regional(1)Europe, Africa and Middle  East26822204+ 22+ 16North America20351925+ 6+ 4Latin America17311469+ 18+ 17Asia Pacific13621161+ 17+ 11Total78106759+ 16+ 12SeedsProduct lineCorn & Soybean1136960+ 18+ 18Diverse Field Crops599454+ 32+ 29Vegetables572516+ 11+ 7Flowers285275+ 4-Total25922205+ 18+ 15Regional(1)Europe, Africa and Middle East1130920+ 23+ 19North America996927+ 7+ 7Latin America292195+ 50+ 49Asia Pacific174163+ 6+ 3Total25922205+ 18+ 15(1) Mexico sales reported in Latin America (previously NAFTA).SOURCE Syngenta