Click here to close now.




















Welcome!

News Feed Item

Syngenta First quarter 2014: sales $4.7 billion

BASEL, Switzerland, April 16, 2014 /PRNewswire/ --

  • Strong start to European season
  • Ongoing emerging market growth
  • North American season delayed by weather
  • On track to achieve full year sales growth target

Sales in the first quarter of 2014 increased by 5 percent at constant exchange rates. The increase in reported sales was 2 percent owing to the depreciation of a number of emerging market currencies against the dollar.

Integrated sales

Integrated sales rose by 5 percent at constant exchange rates, with volumes up 2 percent and prices 3 percent higher. In Europe, Africa and the Middle East growth of 10 percent was driven primarily by crop protection, with an early start to the season and high weed, disease and insect pressure. Growth continued in the CIS despite political instability, with price increases partly offsetting local currency depreciation.  In North America, prolonged cold temperatures delayed the start to the US season across the corn belt, while drought in California reduced demand for insecticides and fungicides. Canada saw good growth with the continuing success of VIBRANCE® seedcare and the expansion of canola and sugar beet seed sales.

In Latin America the pace of growth improved compared with the fourth quarter of 2013 despite dry conditions in Brazil and Argentina. High caterpillar pressure contributed to a significant increase in insecticide sales and in Venezuela business resumed following resolution of a payment delay. Sales of ELATUS progressed well in Paraguay and Bolivia; registration in Brazil was announced on February 28. In Asia Pacific, growth was strong across both developed and emerging markets. In Australasia, herbicide sales in particular benefited from distributor support for our early season offers and from rainfall in March. In China, sales of AMISTAR® technology doubled with expansion on rice and vegetables; South Asia saw strong demand for both crop protection and seeds in rice. 

Product line sales

Sales of Selective herbicides increased by 6 percent despite the delayed season in the USA. Europe saw strong growth in corn and cereals; in Latin America the greater incidence of glyphosate-resistant weeds boosted demand. In Non-selective herbicides a planned reduction in glyphosate volumes was more than offset by strong growth in GRAMOXONE®. In Fungicides sales of our new SDHI product SEGURIS® more than doubled, contributing to broad-based growth across Europe. Latin America saw double digit fungicides growth with increased use on cotton. The main driver of Insecticides growth was the continuing expansion of DURIVO®, notably in Latin America. Increased pest pressure and the replacement of neonicotinoid chemistry drove sales of FORCE® in Europe. Seedcare sales were lower partly due to the suspension of neonicotinoids, including CRUISER®, for certain crops in the EU. Latin American sales were also lower on reduced corn acreage. New launches included FORTENZA® in Argentina and the new biological product CLARIVA for soybean cyst nematode in the USA.

In seeds, Corn and soybean sales were unchanged, with US growers delaying planting decisions. In Latin America sales reflected lower second season corn acreage in Brazil. Sales of our tropical corn germplasm in Asia Pacific continued to expand rapidly. Growth in Diverse field crops was driven by ongoing growth in the CIS; this was partly offset by lower sunflower acreage in other European countries. In Vegetables the recovery in developed markets continued with strong growth in Europe, and sales continued their growth trajectory in Latin America. Global growth in Vegetables adjusted for the divestment of Dulcinea was 9 percent.

Lawn and Garden reflected modest growth in Europe and a decline in North America due to the weather. Sales in Latin America and Asia Pacific grew strongly.

Mike Mack, Chief Executive Officer said: "We have made a solid start to the year despite adverse weather conditions in North America. For the full year we maintain our sales growth expectation for the integrated business of 6 percent at constant exchange rates. As stated in February, lower seeds costs in 2014 will result in gross margin improvement. Research and development spend will increase and will be at the upper end of the targeted 9-10 percent of sales range. Given the depreciation of a number of emerging market currencies in the first quarter, the impact of currencies on full year EBITDA is likely to be around $100 million compared with an earlier forecast of $50 million. We continue to forecast a significant increase in free cash flow before acquisitions to around $1.5 billion."

A presentation illustrating the first quarter 2014 sales will be available on http://www.syngenta.com/q1-2014 by 07:30 (CET).

Syngenta is one of the world's leading companies with more than 28,000 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 www.syngenta.com.

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 there for.

 

Unaudited first quarter sales





For the quarter ended March 31,

($m)

2014

2013

Actual %

CER1 %

Group sales






Europe, Africa, Middle East

2095

1936

+8

+10


North America

1232

1341

-8

-7


Latin America

595

568

+5

+9


Asia Pacific

558

525

+6

+14


Total integrated sales

4480

4370

+2

+5


Lawn and Garden

202

200

+1

+1


Group sales

4682

4570

+2

+5

Crop Protection by region






Europe, Africa, Middle East

1427

1267

+13

+13


North America

792

890

-11

-9


Latin America

529

500

+6

+9


Asia Pacific

496

468

+6

+14


Total

3244

3125

+4

+6







Seeds by region






Europe, Africa, Middle East

675

686

-1

+3


North America

451

460

-2

-2


Latin America

69

78

-12

-2


Asia Pacific

64

58

+10

+18


Total

1259

1282

-2

+2






Sales by business






Crop Protection

3244

3125

+4

+6


Seeds

1259

1282

-2

+2


Elimination of Crop Protection sales to Seeds

-23

-37




Total integrated sales

4480

4370

+2

+5


Lawn and Garden

202

200

+1

+1


Group sales

4682

4570

+2

+5


1 Growth at constant exchange rates

 

First quarter product line sales





For the quarter ended March 31,

($m)

2014

2013

Actual %

CER1 %


Selective herbicides

1055

1011

+4

+6


Non-selective herbicides

305

302

+1

+5


Fungicides

1004

926

+8

+9


Insecticides

513

480

+7

+11


Seedcare

322

379

-15

-11


Other crop protection

45

27

+71

+70


Total Crop Protection

3244

3125

+4

+6


Corn and soybean

684

700

-2

-


Diverse field crops

402

415

-3

+3


Vegetables

173

167

+4

+5


Total Seeds

1259

1282

-2

+2


Elimination of Crop Protection sales to Seeds

-23

-37




Lawn and Garden

202

200

+1

+1


Group sales

4682

4570

+2

+5


1 Growth at constant exchange rates

 

 

Syngenta International AG

 

Media Office

CH-4002 Basel

Switzerland

Tel:               +41 61 323 23 23

Fax:              +41 61 323 24 24

 

www.syngenta.com



Media contacts:

 

Paul Barrett

Switzerland  +41 61 323 2323

 

                                                

Paul Minehart

USA               +1 202 737 8913

 



Analyst/Investor contacts:

 

Jennifer Gough

Switzerland  +41 61 323 5059

USA               +1 202 737 6521

 

Lars Oestergaard

Switzerland  +41 61 323 6793

USA               +1 202 737 6520

 

SOURCE Syngenta International AG

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Learn how to solve the problem of keeping files in sync between multiple Docker containers. In his session at 16th Cloud Expo, Aaron Brongersma, Senior Infrastructure Engineer at Modulus, discussed using rsync, GlusterFS, EBS and Bit Torrent Sync. He broke down the tools that are needed to help create a seamless user experience. In the end, can we have an environment where we can easily move Docker containers, servers, and volumes without impacting our applications? He shared his results so yo...
Palerra, the cloud security automation company, announced enhanced support for Amazon AWS, allowing IT security and DevOps teams to automate activity and configuration monitoring, anomaly detection, and orchestrated remediation, thereby meeting compliance mandates within complex infrastructure deployments. "Monitoring and threat detection for AWS is a non-trivial task. While Amazon's flexible environment facilitates successful DevOps implementations, it adds another layer, which can become a ...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...