NEWS

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NEWS

Syngenta third quarter trading statement 2001

Basel, Switzerland
25 October 2001

Sales for the first nine months of 2001 were $ 5.13 billion compared with $ 5.61 billion for the same period in 2000. At constant exchange rates, sales were 5% lower with Crop Protection down 6% and Seeds up 1%. The underlying sales trend was generally less favorable in the third quarter than
in the second. Currency movements reduced reported sales by 4%, although the impact diminished during the third quarter owing to a weaker dollar.

For Crop Protection, the second half of the year is the main season in Latin America. This year sales are being restrained, notably in Argentina, by the company’s tight credit policy in unstable financial conditions. In Europe and NAFTA, the main season takes place in the first half and sales are lower in the second half. The third quarter in Europe was adversely affected by a decline in selective herbicides. Increased selective herbicide sales in NAFTA were offset by weakness in fungicides and insecticides in drought-affected western areas and an unfavorable US cotton market. Sales in Asia Pacific showed some improvement in the third quarter following delays earlier in the year.

Seeds showed strong growth for the first nine months in Europe, Latin America and Asia Pacific. In NAFTA sales were affected by difficult markets for all crops.

Sales evolution for the full year 2001 is expected to be similar to the first nine months. Synergy realization is on track and will underpin or slightly improve the EBITDA margin for the year; net financial expense is expected to be around the same level as the pro forma 2000 figure.

Syngenta is a world leading agribusiness. The company ranks first in crop protection, and third in the high-value commercial seeds market. Pro forma sales in 2000 were approximately US $6.9 billion. Syngenta employs more than 20,000 people in over 50 countries. The company is committed to sustainable agriculture through innovative Research and Technology. Formed in November 2000 by the merger of Novartis Agribusiness and Zeneca Agrochemicals, 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.

Unaudited Nine Month Product Line and Regional Sales Analysis
with Pro Forma Nine Month 2000 Comparatives

Syngenta

9
months
2001
$m

9
months
2000 (1)
$m


Actual
%

CER (2)
%

Crop Protection

4352

4806

- 9

- 6

Seeds

774

805

- 4

+ 1

Total

5126

5611

- 9

- 5

 

 

 

 

 

Crop Protection

 

 

 

 

Product line

 

 

 

 

Selective herbicides

1454

1544

- 6

- 2

Non-selective herbicides

559

642

- 13

- 8

Fungicides

1110

1265

- 12

- 7

Insecticides

726

830

- 13

-  6

Professional products

404

429

- 6

-  3

Others

99

96

+ 3

+ 8

Total

4352

4806

- 9

- 6

Regional

 

 

 

 

Europe, Africa and Middle East

1512

1643

- 8

- 3

NAFTA

1682

1766

-  5

-  5

Latin America

482

598

- 19

- 18

Asia Pacific

676

799

- 15

- 5

Total

4352

4806

- 9

- 6

 

 

 

 

 

Seeds

 

 

 

 

Product line

 

 

 

 

Field Crops

445

476

-  6

-  3

Vegetables and Flowers

329

329

-

+ 6

Total

774

805

-  4

+ 1

Regional

 

 

 

 

Europe, Africa and Middle East

360

356

+ 1

+ 10

NAFTA

304

347

- 12

- 12

Latin America

70

61

+14

+ 14

Asia Pacific

40

41

-1

+ 9

Total

774

805

- 4

+ 1

Unaudited Third Quarter Product Line and Regional Sales Analysis
with Pro Forma Third Quarter 2000 Comparatives

Syngenta

3rd Quarter
2001
$m

3rd Quarter
2000 (3)
$m


Actual
%

CER (4)
%

Crop Protection

985

1078

- 9

- 6

Seeds

110

113

- 2

- 1

Total

1095

1191

- 8

- 6

 

 

 

 

 

Crop Protection

 

 

 

 

Product line

 

 

 

 

Selective herbicides

230

245

- 6

- 3

Non-selective herbicides

148

160

- 8

- 4

Fungicides

223

252

- 11

- 8

Insecticides

218

250

- 13

- 7

Professional products

134

153

- 12

- 8

Others

32

18

+ 78

+ 80

Total

985

1078

- 9

- 6

Regional

 

 

 

 

Europe, Africa and Middle East

301

329

- 8

- 6

NAFTA

249

274

- 9

- 9

Latin America

247

275

- 10

- 9

Asia Pacific

188

200

- 6

+ 4

Total

985

1078

- 9

- 6

 

 

 

 

 

Seeds

 

 

 

 

Product line

 

 

 

 

Field Crops

37

39

- 5

- 6

Vegetables and Flowers

73

74

- 1

+ 2

Total

110

113

- 2

- 1

Regional

 

 

 

 

Europe, Africa and Middle East

62

53

+ 16

+ 20

NAFTA

11

27

- 57

- 57

Latin America

27

21

+ 26

+ 26

Asia Pacific

10

12

-12

- 7

Total

110

113

- 2

- 1

(1) Unaudited pro forma
(2) Constant exchange rates
(3) Unaudited pro forma
(4) Constant exchange rates

Company news release
N3905

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