Form 20-F
|
X
|
Form 40-F
|
Yes
|
No
|
X
|
Yes
|
No
|
X
|
Yes
|
No
|
X
|
Re:
|
SYNGENTA AG
|
Disclosure:
|
“New segment reporting”
|
·
|
The boundary between Marketing and distribution / Research and development expenses has been redefined. Syngenta’s global Research and development organization now manages all field trial sites and activities worldwide, including those related to maintaining product registrations.
|
·
|
In order to maximize cost efficiency, the provision of support services in Finance, Information Systems, Human Resources and Indirect Procurement has been centralized through Syngenta Business Services. The allocation of these costs by expense line has changed to reflect the usage of the services. The allocation of costs for these services at a regional level is based on the level of transactional activity in revenues and costs, with revenue-related charges included in Marketing and distribution.
|
·
|
Some costs of the integrated organization do not relate to a geographic destination and are reported as non-regional. These include global marketing teams, Research and development and corporate headquarter functions. In addition, regional gross profit performance is based on budgeted product costs: variances to the budget are reported as non-regional in order to align the reported results with organizational accountability.
|
For the six months ended June 30, 2011
(US$ million)
|
EAME(1)
|
North America
|
Latin America
|
Asia Pacific
|
Non-regional
|
Total
|
Lawn and Garden(2)
|
Total group
|
||||||||||||||||||||||||
Segment sales
|
2,924 | 2,251 | 1,032 | 1,026 | - | 7,233 | 469 | 7,702 | ||||||||||||||||||||||||
Cost of goods sold
|
(1,309 | ) | (1,145 | ) | (557 | ) | (537 | ) | (19 | ) | (3,567 | ) | (242 | ) | (3,809 | ) | ||||||||||||||||
Gross profit
|
1,615 | 1,106 | 475 | 489 | (19 | ) | 3,666 | 227 | 3,893 | |||||||||||||||||||||||
Marketing and distribution
|
(349 | ) | (287 | ) | (229 | ) | (147 | ) | (45 | ) | (1,057 | ) | (115 | ) | (1,172 | ) | ||||||||||||||||
Research and development
|
- | - | - | - | (564 | ) | (564 | ) | (28 | ) | (592 | ) | ||||||||||||||||||||
General and administrative
|
(78 | ) | (49 | ) | (45 | ) | (25 | ) | (50 | ) | (247 | ) | (33 | ) | (280 | ) | ||||||||||||||||
Restructuring and impairment
|
(10 | ) | (11 | ) | (5 | ) | (3 | ) | 34 | 5 | (24 | ) | (19 | ) | ||||||||||||||||||
Operating income/(loss)
|
1,178 | 759 | 196 | 314 | (644 | ) | 1,803 | 27 | 1,830 |
For the year ended December 31, 2011
(US$ million)
|
EAME(1)
|
North America
|
Latin America
|
Asia Pacific
|
Non-regional
|
Total
|
Lawn and Garden(2)
|
Total group
|
||||||||||||||||||||||||
Segment sales
|
3,982 | 3,273 | 3,305 | 1,887 | - | 12,447 | 821 | 13,268 | ||||||||||||||||||||||||
Cost of goods sold
|
(1,806 | ) | (1,648 | ) | (1,813 | ) | (984 | ) | (131 | ) | (6,382 | ) | (404 | ) | (6,786 | ) | ||||||||||||||||
Gross profit
|
2,176 | 1,625 | 1,492 | 903 | (131 | ) | 6,065 | 417 | 6,482 | |||||||||||||||||||||||
Marketing and distribution
|
(685 | ) | (554 | ) | (542 | ) | (290 | ) | (89 | ) | (2,160 | ) | (227 | ) | (2,387 | ) | ||||||||||||||||
Research and development
|
- | - | - | - | (1,135 | ) | (1,135 | ) | (56 | ) | (1,191 | ) | ||||||||||||||||||||
General and administrative
|
(166 | ) | (114 | ) | (77 | ) | (48 | ) | (155 | ) | (560 | ) | (62 | ) | (622 | ) | ||||||||||||||||
Restructuring and impairment
|
(88 | ) | (25 | ) | (23 | ) | (13 | ) | (29 | ) | (178 | ) | (53 | ) | (231 | ) | ||||||||||||||||
Operating income/(loss)
|
1,237 | 932 | 850 | 552 | (1,539 | ) | 2,032 | 19 | 2,051 |
For the year ended December 31, 2010
(US$ million)
|
EAME(1)
|
North America
|
Latin America
|
Asia Pacific
|
Non-regional
|
Total
|
Lawn and Garden(2)
|
Total group
|
||||||||||||||||||||||||
Segment sales
|
3,423 | 2,969 | 2,763 | 1,707 | - | 10,862 | 779 | 11,641 | ||||||||||||||||||||||||
Cost of goods sold
|
(1,568 | ) | (1,571 | ) | (1,578 | ) | (909 | ) | 116 | (5,510 | ) | (390 | ) | (5,900 | ) | |||||||||||||||||
Gross profit
|
1,855 | 1,398 | 1,185 | 798 | 116 | 5,352 | 389 | 5,741 | ||||||||||||||||||||||||
Marketing and distribution
|
(623 | ) | (548 | ) | (378 | ) | (267 | ) | (71 | ) | (1,887 | ) | (208 | ) | (2,095 | ) | ||||||||||||||||
Research and development
|
- | - | - | - | (1,024 | ) | (1,024 | ) | (57 | ) | (1,081 | ) | ||||||||||||||||||||
General and administrative
|
(153 | ) | (121 | ) | (72 | ) | (39 | ) | (174 | ) | (559 | ) | (54 | ) | (613 | ) | ||||||||||||||||
Restructuring and impairment
|
(64 | ) | (1 | ) | (12 | ) | (5 | ) | (57 | ) | (139 | ) | (20 | ) | (159 | ) | ||||||||||||||||
Operating income/(loss)
|
1,015 | 728 | 723 | 487 | (1,210 | ) | 1,743 | 50 | 1,793 |
(1)
|
EAME: Europe, Africa and Middle East
|
(2)
|
The supply of chemical active ingredient to Lanxess AG for the materials protection market, previously reported as part of Professional Products, has been integrated into the geographical segments. This reflects Syngenta’s divestment of the materials protection business to Lanxess AG in 2011
|
Syngenta
(US$ million)
|
June
2011
|
December
2011
|
December
2010
|
|||||||||
Third party sales
|
7,702 | 13,268 | 11,641 | |||||||||
Gross profit
|
3,899 | 6,496 | 5,759 | |||||||||
Marketing and distribution
|
(1,172 | ) | (2,387 | ) | (2,095 | ) | ||||||
Research and development
|
(592 | ) | (1,191 | ) | (1,081 | ) | ||||||
General and administrative
|
(280 | ) | (622 | ) | (613 | ) | ||||||
Operating income
|
1,855 | 2,296 | 1,970 | |||||||||
Depreciation, amortization and impairment
|
294 | 594 | 509 | |||||||||
Income from associates and joint ventures
|
- | 15 | 26 | |||||||||
EBITDA
|
2,149 | 2,905 | 2,505 | |||||||||
EBITDA (%)
|
27.9 | 21.9 | 21.5 |
Total(1)
|
Lawn and Garden
|
|||||||||||||||||||||||
(US$ million)
|
June
2011
|
December 2011
|
December
2010
|
June
2011
|
December 2011
|
December
2010
|
||||||||||||||||||
Third party sales
|
7,233 | 12,447 | 10,862 | 469 | 821 | 779 | ||||||||||||||||||
Gross profit
|
3,672 | 6,079 | 5,359 | 227 | 417 | 400 | ||||||||||||||||||
Marketing and distribution
|
(1,057 | ) | (2,160 | ) | (1,887 | ) | (115 | ) | (227 | ) | (208 | ) | ||||||||||||
Research and development
|
(564 | ) | (1,135 | ) | (1,024 | ) | (28 | ) | (56 | ) | (57 | ) | ||||||||||||
General and administrative
|
(247 | ) | (560 | ) | (559 | ) | (33 | ) | (62 | ) | (54 | ) | ||||||||||||
Operating income
|
1,804 | 2,224 | 1,889 | 51 | 72 | 81 | ||||||||||||||||||
Depreciation,
amortization and impairment
|
279 | 563 | 477 | 15 | 31 | 32 | ||||||||||||||||||
Income from
associates and joint ventures
|
- | 15 | 26 | - | - | - | ||||||||||||||||||
EBITDA
|
2,083 | 2,802 | 2,392 | 66 | 103 | 113 | ||||||||||||||||||
EBITDA (%)
|
28.8 | 22.5 | 22.0 | 14.1 | 12.5 | 14.5 |
(1)
|
Total excludes Lawn and Garden and includes non-regional
|
Europe, Africa and Middle East
|
North America
|
|||||||||||||||||||||||
(US$ million)
|
June
2011
|
December 2011
|
December
2010
|
June
2011
|
December 2011
|
December
2010
|
||||||||||||||||||
Third party sales
|
2,924 | 3,982 | 3,423 | 2,251 | 3,273 | 2,969 | ||||||||||||||||||
Gross profit
|
1,620 | 2,184 | 1,855 | 1,107 | 1,631 | 1,401 | ||||||||||||||||||
Marketing and distribution
|
(349 | ) | (685 | ) | (623 | ) | (287 | ) | (554 | ) | (548 | ) | ||||||||||||
Research and development
|
- | - | - | - | - | - | ||||||||||||||||||
General and administrative
|
(78 | ) | (166 | ) | (153 | ) | (49 | ) | (114 | ) | (121 | ) | ||||||||||||
Operating income
|
1,193 | 1,333 | 1,079 | 771 | 963 | 732 | ||||||||||||||||||
Latin America
|
Asia Pacific
|
|||||||||||||||||||||||
(US$ million)
|
June
2011
|
December 2011
|
December
2010
|
June
2011
|
December 2011
|
December
2010
|
||||||||||||||||||
Third party sales
|
1,032 | 3,305 | 2,763 | 1,026 | 1,887 | 1,707 | ||||||||||||||||||
Gross profit
|
475 | 1,492 | 1,189 | 489 | 903 | 798 | ||||||||||||||||||
Marketing and distribution
|
(229 | ) | (542 | ) | (378 | ) | (147 | ) | (290 | ) | (267 | ) | ||||||||||||
Research and development
|
- | - | - | - | - | - | ||||||||||||||||||
General and administrative
|
(45 | ) | (77 | ) | (72 | ) | (25 | ) | (48 | ) | (39 | ) | ||||||||||||
Operating income
|
201 | 873 | 739 | 317 | 565 | 492 |
For the six months ended June 30, 2011
(US$ million)
|
EAME(1)
|
North America
|
Latin America
|
Asia Pacific
|
Non-regional
|
Total
|
Lawn and Garden
|
Total group
|
||||||||||||||||||||||||
Operating income/(loss)
|
1,178 | 759 | 196 | 314 | (644 | ) | 1,803 | 27 | 1,830 | |||||||||||||||||||||||
Restructuring and impairment:
|
||||||||||||||||||||||||||||||||
Cost of goods sold(2)
|
5 | 1 | - | - | - | 6 | - | 6 | ||||||||||||||||||||||||
Expenses
|
10 | 11 | 5 | 3 | (34 | ) | (5 | ) | 24 | 19 | ||||||||||||||||||||||
Operating income excluding restructuring and impairment
|
1,193 | 771 | 201 | 317 | (678 | ) | 1,804 | 51 | 1,855 | |||||||||||||||||||||||
Operating margin (%)
|
40.8 | 34.3 | 19.5 | 30.9 | n/a | 24.9 | 10.9 | 24.1 |
For the year ended December 31, 2011
(US$ million)
|
EAME(1)
|
North America
|
Latin America
|
Asia Pacific
|
Non-regional
|
Total
|
Lawn and Garden
|
Total group
|
||||||||||||||||||||||||
Operating income/(loss)
|
1,237 | 932 | 850 | 552 | (1,539 | ) | 2,032 | 19 | 2,051 | |||||||||||||||||||||||
Restructuring and impairment:
|
||||||||||||||||||||||||||||||||
Cost of goods sold(2)
|
8 | 6 | - | - | - | 14 | - | 14 | ||||||||||||||||||||||||
Expenses
|
88 | 25 | 23 | 13 | 29 | 178 | 53 | 231 | ||||||||||||||||||||||||
Operating income excluding restructuring and impairment
|
1,333 | 963 | 873 | 565 | (1,510 | ) | 2,224 | 72 | 2,296 | |||||||||||||||||||||||
Operating margin (%)
|
33.5 | 29.4 | 26.4 | 29.9 | n/a | 17.9 | 8.8 | 17.3 |
For the year ended December 31, 2010
(US$ million)
|
EAME(1)
|
North America
|
Latin America
|
Asia Pacific
|
Non-regional
|
Total
|
Lawn and Garden
|
Total group
|
||||||||||||||||||||||||
Operating income/(loss)
|
1,015 | 728 | 723 | 487 | (1,210 | ) | 1,743 | 50 | 1,793 | |||||||||||||||||||||||
Restructuring and impairment:
|
||||||||||||||||||||||||||||||||
Cost of goods sold(2)
|
- | 3 | 4 | - | - | 7 | 11 | 18 | ||||||||||||||||||||||||
Expenses
|
64 | 1 | 12 | 5 | 57 | 139 | 20 | 159 | ||||||||||||||||||||||||
Operating income excluding restructuring and impairment
|
1,079 | 732 | 739 | 492 | (1,153 | ) | 1,889 | 81 | 1,970 | |||||||||||||||||||||||
Operating margin (%)
|
31.5 | 24.7 | 26.7 | 28.8 | n/a | 17.4 | 10.4 | 16.9 |
(1)
|
EAME: Europe, Africa and Middle East
|
(2)
|
Reversal of inventory step-up
|
Integrated sales
(US$ million)
|
Q1
2011
|
Q2
2011
|
Q3
2011
|
Q4
2011
|
H1
2011
|
H2
2011
|
FY
2011
|
|||||||||||||||||||||
Europe, Africa and Middle East
|
1,597 | 1,327 | 644 | 414 | 2,924 | 1,058 | 3,982 | |||||||||||||||||||||
North America
|
1,125 | 1,126 | 484 | 538 | 2,251 | 1,022 | 3,273 | |||||||||||||||||||||
Latin America
|
516 | 516 | 949 | 1,324 | 1,032 | 2,273 | 3,305 | |||||||||||||||||||||
Asia Pacific
|
522 | 504 | 418 | 443 | 1,026 | 861 | 1,887 | |||||||||||||||||||||
Total
|
3,760 | 3,473 | 2,495 | 2,719 | 7,233 | 5,214 | 12,447 | |||||||||||||||||||||
Lawn and Garden(1)
|
257 | 212 | 168 | 184 | 469 | 352 | 821 | |||||||||||||||||||||
Group Sales
|
4,017 | 3,685 | 2,663 | 2,903 | 7,702 | 5,566 | 13,268 | |||||||||||||||||||||
Sales by business
|
||||||||||||||||||||||||||||
Crop Protection
|
2,669 | 2,714 | 2,075 | 2,219 | 5,383 | 4,294 | 9,677 | |||||||||||||||||||||
Seeds
|
1,108 | 767 | 433 | 542 | 1,875 | 975 | 2,850 | |||||||||||||||||||||
Elimination of Crop Protection sales to Seeds
|
(17 | ) | (8 | ) | (13 | ) | (42 | ) | (25 | ) | (55 | ) | (80 | ) | ||||||||||||||
Total
|
3,760 | 3,473 | 2,495 | 2,719 | 7,233 | 5,214 | 12,447 | |||||||||||||||||||||
Lawn and Garden(1)
|
257 | 212 | 168 | 184 | 469 | 352 | 821 | |||||||||||||||||||||
Group Sales
|
4,017 | 3,685 | 2,663 | 2,903 | 7,702 | 5,566 | 13,268 | |||||||||||||||||||||
Crop Protection regional sales
|
||||||||||||||||||||||||||||
Europe, Africa and Middle East
|
1,084 | 1,009 | 511 | 354 | 2,093 | 865 | 2,958 | |||||||||||||||||||||
North America
|
634 | 813 | 425 | 286 | 1,447 | 711 | 2,158 | |||||||||||||||||||||
Latin America
|
464 | 470 | 765 | 1,208 | 934 | 1,973 | 2,907 | |||||||||||||||||||||
Asia Pacific
|
487 | 422 | 374 | 371 | 909 | 745 | 1,654 | |||||||||||||||||||||
Total
|
2,669 | 2,714 | 2,075 | 2,219 | 5,383 | 4,294 | 9,677 | |||||||||||||||||||||
Seeds regional sales
|
||||||||||||||||||||||||||||
Europe, Africa and Middle East
|
522 | 320 | 135 | 86 | 842 | 221 | 1,063 | |||||||||||||||||||||
North America
|
497 | 313 | 66 | 266 | 810 | 332 | 1,142 | |||||||||||||||||||||
Latin America
|
53 | 51 | 187 | 118 | 104 | 305 | 409 | |||||||||||||||||||||
Asia Pacific
|
36 | 83 | 45 | 72 | 119 | 117 | 236 | |||||||||||||||||||||
Total
|
1,108 | 767 | 433 | 542 | 1,875 | 975 | 2,850 |
(1)
|
Includes product lines Professional Products and Flowers. Professional Products were formerly reported under Crop Protection and Flowers under Seeds
|
Product line sales
(US$ million)
|
Q1
2011
|
Q2
2011
|
Q3
2011
|
Q4
2011
|
H1
2011
|
H2
2011
|
FY
2011
|
|||||||||||||||||||||
Selective Herbicides
|
827 | 920 | 453 | 417 | 1,747 | 870 | 2,617 | |||||||||||||||||||||
Non-selective Herbicides
|
250 | 315 | 321 | 231 | 565 | 552 | 1,117 | |||||||||||||||||||||
Fungicides
|
881 | 848 | 565 | 704 | 1,729 | 1,269 | 2,998 | |||||||||||||||||||||
Insecticides
|
430 | 428 | 436 | 496 | 858 | 932 | 1,790 | |||||||||||||||||||||
Seed Care
|
257 | 173 | 256 | 332 | 430 | 588 | 1,018 | |||||||||||||||||||||
Other Crop Protection
|
24 | 30 | 44 | 39 | 54 | 83 | 137 | |||||||||||||||||||||
Total Crop Protection
|
2,669 | 2,714 | 2,075 | 2,219 | 5,383 | 4,294 | 9,677 | |||||||||||||||||||||
Corn and Soybean
|
634 | 328 | 175 | 334 | 962 | 509 | 1,471 | |||||||||||||||||||||
Diverse Field Crops
|
297 | 218 | 84 | 77 | 515 | 161 | 676 | |||||||||||||||||||||
Vegetables
|
177 | 221 | 174 | 131 | 398 | 305 | 703 | |||||||||||||||||||||
Total Seeds
|
1,108 | 767 | 433 | 542 | 1,875 | 975 | 2,850 | |||||||||||||||||||||
Elimination of Crop Protection sales to Seeds
|
(17 | ) | (8 | ) | (13 | ) | (42 | ) | (25 | ) | (55 | ) | (80 | ) | ||||||||||||||
Lawn and Garden(1)
|
257 | 212 | 168 | 184 | 469 | 352 | 821 | |||||||||||||||||||||
Group Sales
|
4,017 | 3,685 | 2,663 | 2,903 | 7,702 | 5,566 | 13,268 |
(1)
|
Includes product lines Professional Products and Flowers. Professional Products were formerly reported under Crop Protection and Flowers under Seeds
|
For the six months ended June 30,
(US$ million)
|
2011
as reported
|
Research and development
|
Syngenta
Business Services
|
2011
reclassified
|
||||||||||||
Sales
|
7,702 | 7,702 | ||||||||||||||
Cost of goods sold
|
(3,785 | ) | (24 | ) | (3,809 | ) | ||||||||||
Gross profit
|
3,917 | - | (24 | ) | 3,893 | |||||||||||
Marketing and distribution
|
(1,052 | ) | 39 | (159 | ) | (1,172 | ) | |||||||||
Research and development
|
(559 | ) | (39 | ) | 6 | (592 | ) | |||||||||
General and administrative
|
(457 | ) | 177 | (280 | ) | |||||||||||
Restructuring and impairment
|
(19 | ) | (19 | ) | ||||||||||||
Operating income
|
1,830 | - | - | 1,830 |
For the year ended December 31,
(US$ million)
|
2011
as reported
|
Research and development
|
Syngenta
Business Services
|
2011
reclassified
|
||||||||||||
Sales
|
13,268 | 13,268 | ||||||||||||||
Cost of goods sold
|
(6,737 | ) | (49 | ) | (6,786 | ) | ||||||||||
Gross profit
|
6,531 | - | (49 | ) | 6,482 | |||||||||||
Marketing and distribution
|
(2,145 | ) | 76 | (318 | ) | (2,387 | ) | |||||||||
Research and development
|
(1,127 | ) | (76 | ) | 12 | (1,191 | ) | |||||||||
General and administrative
|
(977 | ) | 355 | (622 | ) | |||||||||||
Restructuring and impairment
|
(231 | ) | (231 | ) | ||||||||||||
Operating income
|
2,051 | - | - | 2,051 |
For the year ended December 31,
(US$ million)
|
2010
as reported
|
Research and development
|
Syngenta
Business Services
|
2010
reclassified
|
||||||||||||
Sales
|
11,641 | 11,641 | ||||||||||||||
Cost of goods sold
|
(5,866 | ) | (34 | ) | (5,900 | ) | ||||||||||
Gross profit
|
5,775 | - | (34 | ) | 5,741 | |||||||||||
Marketing and distribution
|
(1,892 | ) | 66 | (269 | ) | (2,095 | ) | |||||||||
Research and development
|
(1,032 | ) | (66 | ) | 17 | (1,081 | ) | |||||||||
General and administrative
|
(899 | ) | 286 | (613 | ) | |||||||||||
Restructuring and impairment
|
(159 | ) | (159 | ) | ||||||||||||
Operating income
|
1,793 | - | - | 1,793 |
First half results 2012
|
July 26, 2012
|
Crop update
|
September 24-26, 2012
|
Third quarter trading statement 2012
|
October 23, 2012
|
Full year results 2012
|
February 06, 2013
|
First quarter trading statement 2013
|
April 18, 2013
|
SYNGENTA AG
|
||||||
Date:
|
June 26, 2012
|
By:
|
/s/ Tobias Meili | |||
Name:
|
Dr. Tobias Meili
|
|||||
Title:
|
Head Corporate Legal Affairs
|
|||||
By:
|
/s/ Brigitte Benz | |||||
Name:
|
Brigitte Benz
|
|||||
Head Shareholder Services &
Group Administration
|
||||||