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Yes | No X |
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A
Re: | SYNGENTA AG | |
Press Release: Third Quarter Trading Statement 2003 |
Filed herewith is a press release related to Syngenta AG. The full text of the press release follows:
# # #
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SYNGENTA AG | ||
Date: October 22, 2003 | By: | /s/ Peter Schreiner |
Name: Peter Schreiner Title: Authorized Signatory |
||
By: | /s/ Otto Schürmann | |
Name: Otto Schürmann Title: Authorized Signatory |
Syngenta International AG | |
Media Office | |
CH-4002 Basel | |
Switzerland | |
Telephone: +41 61 323 23 23 | |
Fax: +41 61 323 24 24 | |
www.syngenta.com | |
Media Release Communiqué aux Médias Medienmitteilung |
Third Quarter Trading Statement 2003
Basel, Switzerland, October 22, 2003
Sales in the third quarter of 2003 increased by 3% at constant exchange rates (CER). Reported sales rose 7% to $1.2bn (2002: $1.1bn), reflecting the positive impact of US dollar weakness. Sales for the first nine months at $5.3bn were 2% lower (CER).
Crop Protection sales (CER) in the third quarter were unchanged. NAFTA delivered a robust performance notably in selective herbicides, reflecting continued success of the broad corn portfolio; insecticides also performed well. European sales in the quarter followed the pattern of the first half as extremely dry conditions continued to adversely impact fungicides. Latin America delivered strong growth driven by ongoing progress in Brazil and Argentina. Further de-stocking in China combined with timing differences in Japan sales reduced sales in Asia-Pacific. Broad-based growth was achieved in professional products led by the continuing success of seed treatments.
Growth in sales of new products in the quarter was $27m (CER); total sales of new products for the first nine months reached $400m. The impact of range rationalization in the quarter amounted to $19m (CER), bringing the nine month total to $89m.
Seeds sales (CER) increased by 25% driven by growth across the portfolio. Notable performances were achieved in vegetables and oilseeds in Europe and in corn in Latin America.
For the full year 2003, business performance is expected to deliver an increase in EBITDA and significant growth in earnings per share. The full year impact of currency movements on EBITDA is expected to be broadly neutral.
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 2002 were approximately US $6.2 billion. Syngenta employs some 20,000 people in over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in London (SYA), New York (SYT) and Stockholm (SYN). Further information is available at www.syngenta.com.
Analyst/Investor Enquiries: | Jonathan Seabrook (Switzerland) | + | 41 61 323 7502 |
Jennifer Gough (Switzerland) | + | 41 61 323 5059 | |
Rhonda Chiger (USA) | + | 1 (917) 322 2569 | |
Media Enquiries: | OPatrick Wilson (Switzerland) | + | 41 61 323 2323 |
Judith Auchard (UK) | + | 44 (0) 1483 260184 | |
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. |
Syngenta Third Quarter Trading Statement 2003 / Page 1 of 3
Unaudited Nine Months Product Line and Regional Sales
9 Months 2003 | 9 Months 2002 | Actual | CER(1) | Ex RR(2) | ||||||
Syngenta | ||||||||||
$m | $m | % | % | % | ||||||
Crop Protection | 4386 | 4237 | + 4 | - 3 | - 1 | |||||
Seeds | 892 | 764 | + 17 | + 6 | + 6 | |||||
Total | 5278 | 5001 | + 6 | - 2 | - | |||||
Crop Protection | ||||||||||
Product line | ||||||||||
Selective herbicides | 1432 | 1326 | + 8 | + 2 | + 3 | |||||
Non-selective herbicides | 509 | 540 | - 6 | - 10 | - 10 | |||||
Fungicides | 1122 | 1103 | + 2 | - 7 | - 6 | |||||
Insecticides | 718 | 678 | + 6 | - | + 4 | |||||
Professional products | 499 | 459 | + 8 | + 3 | + 5 | |||||
Others | 106 | 131 | - 19 | - 29 | - 23 | |||||
Total | 4386 | 4237 | + 4 | - 3 | - 1 | |||||
Regional | ||||||||||
Europe, Africa and Middle East | 1677 | 1552 | + 8 | - 8 | - 4 | |||||
NAFTA | 1634 | 1626 | + 1 | - | + 1 | |||||
Latin America | 471 | 419 | + 13 | + 13 | + 14 | |||||
Asia Pacific | 604 | 640 | - 6 | - 11 | - 8 | |||||
Total | 4386 | 4237 | + 4 | - 3 | - 1 | |||||
Seeds | ||||||||||
Product line | ||||||||||
Field Crops | 488 | 415 | + 18 | + 7 | + 7 | |||||
Vegetables and Flowers | 404 | 349 | + 16 | + 5 | + 5 | |||||
Total | 892 | 764 | + 17 | + 6 | + 6 | |||||
Regional | ||||||||||
Europe, Africa and Middle East | 486 | 387 | + 26 | + 6 | + 6 | |||||
NAFTA | 308 | 295 | + 5 | + 4 | + 4 | |||||
Latin America | 55 | 46 | + 20 | + 20 | + 20 | |||||
Asia Pacific | 43 | 36 | + 17 | + 10 | + 10 | |||||
Total | 892 | 764 | + 17 | + 6 | + 6 | |||||
(1) | Growth at constant exchange rates. |
(2) | Growth at constant exchange rates excluding the effects of range rationalization. |
Syngenta Third Quarter Trading Statement 2002 / Page 2 of 3
Unaudited Third Quarter Product Line and Regional Sales
3rd Quarter 2003 | 3rd Quarter 2002 | Actual | CER(1) | Ex RR(2) | ||||||
Syngenta | ||||||||||
$m | $m | % | % | % | ||||||
Crop Protection | 1016 | 981 | + 4 | - | + 2 | |||||
Seeds | 157 | 118 | + 34 | + 25 | + 25 | |||||
Total | 1173 | 1099 | + 7 | + 3 | + 4 | |||||
Crop Protection | ||||||||||
Product line | ||||||||||
Selective herbicides | 245 | 201 | + 22 | + 18 | + 21 | |||||
Non-selective herbicides | 145 | 159 | - 9 | - 12 | - 12 | |||||
Fungicides | 224 | 232 | - 3 | - 6 | - 4 | |||||
Insecticides | 212 | 198 | + 7 | + 4 | + 7 | |||||
Professional products | 171 | 155 | + 10 | + 4 | + 6 | |||||
Others | 19 | 36 | - 48 | - 52 | - 52 | |||||
Total | 1016 | 981 | + 4 | - | + 2 | |||||
Regional | ||||||||||
Europe, Africa and Middle East | 342 | 334 | + 2 | - 7 | - 5 | |||||
NAFTA | 289 | 248 | + 17 | + 17 | + 18 | |||||
Latin America | 228 | 209 | + 9 | + 9 | + 10 | |||||
Asia Pacific | 157 | 190 | - 17 | - 20 | - 17 | |||||
Total | 1016 | 981 | + 4 | - | + 2 | |||||
Seeds | ||||||||||
Product line | ||||||||||
Field Crops | 58 | 34 | + 75 | + 64 | + 64 | |||||
Vegetables and Flowers | 99 | 84 | + 17 | + 9 | + 9 | |||||
Total | 157 | 118 | + 34 | + 25 | + 25 | |||||
Regional | ||||||||||
Europe, Africa and Middle East | 92 | 71 | + 30 | + 16 | + 16 | |||||
NAFTA | 22 | 25 | - 10 | - 9 | - 9 | |||||
Latin America | 30 | 13 | + 134 | + 134 | + 134 | |||||
Asia Pacific | 13 | 9 | + 45 | + 37 | + 37 | |||||
Total | 157 | 118 | + 34 | + 25 | + 25 | |||||
(1) | Growth at constant exchange rates. |
(2) | Growth at constant exchange rates excluding the effects of range rationalization. |
Syngenta Third Quarter Trading Statement 2002 / Page 3 of 3