Seed company Advanta, with headoffice in Kapelle, The Netherlands, achieved a record operating profit of 35 million Euro in 2003, a 5 million Euro increase against the previous year. Driven by the higher operating profit and tax benefits, the net after tax result was 50 million Euro, an increase of 20 million Euro against the previous year. Higher revenues from European sugar beet seeds, maize and grass seeds were a major driver of income growth, whereas Advanta companies in North and South America and AustralAsia also contributed substantially to the overall group profit. The Advanta management is confident that the company’s outlook for its 2004 results is also positive.

With annual revenues of approximately 400 million Euro (excluding royalties) and over 2,000 employees, Advanta is one of the top 5 global leaders in the research, development, production, processing, marketing and sales of high performance agricultural seeds. Through its operating companies, joint ventures and representative offices in 24 countries, the Advanta group is represented in most major agricultural seed markets under leading brands as Advanta, VanderHave, SES, Garst, Pacific Seed and Mommersteeg. Its principal crops include maize, sugar beet, cereals, oil seeds, grasses and sorghum.

In Europe, Advanta had another succesful year in sugar beet seeds. The company grew its sales and further strengthened its position in key markets in the growing segment of Rhizomania-tolerant varieties. European maize sales were 9% above previous year and considerable growth was also achieved in Central and Eastern European markets in sugar beets, maize and sunflower.
European activities in grass seeds benefited from favourable market conditions, caused by weather conditions and lower stocks.

With revenue growth in soybeans offsetting a slight decrease in maize sales, Garst Seed Company in the US, Advanta’s largest subsidiary, achieved another good result in 2003.
The other Advanta subsidiaries in the US, Interstate Seed Company and Agripro Wheat, also reported good returns. Advanta Canada achieved a doubling of its domestic market share in canola.

In South America the process of economic recovery in Argentina is fragile but ongoing. Advanta Argentina achieved good returns, in spite of the strengthening of the peso against the US dollar.

In Australia, Thailand and India, the Advanta companies achieved very good returns.
PacSeed Australia consolidated its strong market position in sorghum, canola, maize and sunflower, in spite of unfavourable weather conditions in the main sowing season

Based on its market positions and strong product portfolio, the management of Advanta is confident about the future outlook for the company.