Sales in the third
quarter of 2003 increased by 3% at constant exchange rates (CER). Reported
sales rose 7% to $1.2bn (2002: $1.1bn), reflecting the positive impact of US
dollar weakness. Sales for the first nine months at $5.3bn were 2% lower
(CER).Crop Protection sales (CER) in the third quarter were unchanged. NAFTA
delivered a robust performance notably in selective herbicides, reflecting
continued success of the broad corn portfolio; insecticides also performed
well. European sales in the quarter followed the pattern of the first half as
extremely dry conditions continued to adversely impact fungicides. Latin
America delivered strong growth driven by ongoing progress in Brazil and
Argentina. Further de-stocking in China combined with timing differences in
Japan sales reduced sales in Asia-Pacific. Broad-based growth was achieved in
professional products led by the continuing success of seed treatments.
Growth in sales of new products in the quarter was $27m (CER); total sales
of new products for the first nine months reached $400m. The impact of range
rationalization in the quarter amounted to $19m (CER), bringing the nine-month
total to $89m.
Seeds sales (CER) increased by 25% driven by growth across the portfolio.
Notable performances were achieved in vegetables and oilseeds in Europe and in
corn in Latin America.
For the full year 2003, business performance is expected to deliver an
increase in EBITDA and significant growth in earnings per share. The full-
year impact of currency movements on EBITDA is expected to be broadly neutral.
Syngenta is a world-leading agribusiness committed to
sustainable agriculture through innovative research and technology. The
company is a leader in crop protection and ranks third in the high-value
commercial seeds market. Sales in 2002 were approximately US $6.2 billion.
Syngenta employs some 20,000 people in over 90 countries. 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 Months Product Line and Regional Sales
9 Months 9 Months Ex
Syngenta 2003 2002 Actual CER(1) RR(2)
$m $m % % %
Crop Protection 4386 4237 4 -3 -1
Seeds 892 764 17 6 6
Total 5278 5001 6 -2 -
Crop Protection
Product line
Selective herbicides 1432 1326 8 2 3
Non-selective
herbicides 509 540 -6 -10 -10
Fungicides 1122 1103 2 -7 -6
Insecticides 718 678 6 - 4
Professional
products 499 459 8 3 5
Others 106 131 -19 -29 -23
Total 4386 4237 4 -3 -1
Regional
Europe, Africa and
Middle East 1677 1552 8 -8 -4
NAFTA 1634 1626 1 - 1
Latin America 471 419 13 13 14
Asia Pacific 604 640 -6 -11 -8
Total 4386 4237 4 -3 -1
Seeds
Product line
Field Crops 488 415 18 7 7
Vegetables and
Flowers 404 349 16 5 5
Total 892 764 17 6 6
Regional
Europe, Africa and
Middle East 486 387 26 6 6
NAFTA 308 295 5 4 4
Latin America 55 46 20 20 20
Asia Pacific 43 36 17 10 10
Total 892 764 17 6 6
- (1) Growth at constant exchange rates.
- (2) Growth at constant exchange rates excluding the effects of range
rationalization.
Unaudited Third Quarter Product Line and Regional Sales
3rd Quarter 3rd Quarter Ex
Syngenta 2003 2002 Actual CER(1) RR(2)
$m $m % % %
Crop Protection 1016 981 4 - 2
Seeds 157 118 34 25 25
Total 1173 1099 7 3 4
Crop Protection
Product line
Selective
herbicides 245 201 22 18 21
Non-selective
herbicides 145 159 -9 -12 -12
Fungicides 224 232 -3 -6 -4
Insecticides 212 198 7 4 7
Professional
products 171 155 10 4 6
Others 19 36 -48 -52 -52
Total 1016 981 4 - 2
Regional
Europe, Africa and
Middle East 342 334 2 -7 -5
NAFTA 289 248 17 17 18
Latin America 228 209 9 9 10
Asia Pacific 157 190 -17 -20 -17
Total 1016 981 4 - 2
Seeds
Product line
Field Crops 58 34 75 64 64
Vegetables and
Flowers 99 84 17 9 9
Total 157 118 34 25 25
Regional
Europe, Africa and
Middle East 92 71 30 16 16
NAFTA 22 25 -10 -9 -9
Latin America 30 13 134 134 134
Asia Pacific 13 9 45 37 37
Total 157 118 34 25 25
- (1) Growth at constant exchange rates.
- (2) Growth at constant exchange rates excluding the effects of range
rationalization.
