Syngenta first quarter 2002 trading statement

Basel, Switzerland
April 23, 2002

Syngenta AG sales for the first quarter of 2002 were $1.84 billion (Q1 2001: $1.91 billion). At constant exchange rates sales were unchanged; currency movements reduced reported sales by 3 percent essentially due to the weakness of the Euro and of Asian currencies.

Crop Protection sales in Europe benefited from a strong performance in Germany following new product launches, coupled with a recovery in the UK, notably for cereal fungicides; this offset a slow start in France. Sales in NAFTA were flat with a strong start in Canada and Mexico mitigating anticipated US channel destocking of selective herbicides, particularly in the corn market; the non-selective herbicide TOUCHDOWN continued to grow. In Asia Pacific a change in order pattern adversely affected sales in Japan. New product launches - ACANTO and CALLISTO - are proceeding well; in addition, CRUISER seed treatment (thiamethoxam) in professional products grew strongly. Ongoing range rationalization is expected to offset new product sales growth for the full year but will enhance future profitability.

Seeds field crop sales were down largely due to more intense competition in the US corn market and reduced soybean acreage. Vegetable and flower sales were strong in Europe.

Market conditions have shown little change since the start of the year with commodity crop prices remaining low. However, first quarter performance indicates that barring further unfavorable currency movements, synergy realization will result in some margin improvement in 2002.

Syngenta is a world-leading agribusiness. The company ranks first in crop protection, and third in the high-value commercial seeds market. Sales in 2001 were approximately US $6.3 billion. Syngenta employs more than 20,000 people in over 50 countries. The company is committed to sustainable agriculture through innovative Research and Technology. Syngenta (NYSE: SYT) is listed on the Swiss stock exchange and in London, New York and Stockholm.  

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