|
Basel, Switzerland
May 10, 2001
Sales for the first quarter of 2001 were $1.91 billion
compared with exceptionally strong sales of $2.17 billion for the first quarter of 2000. At constant exchange rates sales
were 8% lower with Crop Protection down 10% and Seeds down 2%. Changes in exchange rates reduced reported sales
by 4%.
Strong cost control, coupled with planned progress in realizing synergy projects, has resulted in margins at the same level
as the first quarter last year.
As already signaled in March, a slow start to the 2001 season with prolonged adverse weather conditions reduced early
demand for Crop Protection products, particularly cereal fungicides in Europe. A projected 4% decline in US corn acreage
affected both Crop Protection and Seeds. Selling prices remained broadly stable in the first quarter compared with the
previous year.
With the northern hemisphere season now under way, some recovery in the sales trend is expected during the remainder of
the year. New product introductions are proceeding according to plan, including the launch of the new corn herbicide
CALLISTO(R).
Unaudited First Quarter Product Line and Regional Sales Analysis
| |
1st Quarter
2001
($m) |
1st Quarter 2000(1)
($m) |
Actual
% |
CER(2)
% |
| Crop Protection |
1518 |
1767 |
14 |
10 |
| Seeds |
387 |
401 |
-4 |
-2 |
| Total |
1905 |
2168 |
-12 |
-8 |
Crop Protection
Product line |
|
|
|
|
| Selective herbicides |
566 |
626 |
-10 |
-6 |
| Non-selective herbicides |
170 |
200 |
-15 |
-10 |
| Fungicides |
408 |
515 |
-21 |
-15 |
| Insecticides |
219 |
259 |
-15 |
-9 |
| Professional
products |
119 |
133 |
-11 |
-8 |
| Others |
36 |
34 |
+5 |
+5 |
| Total |
1518 |
1767 |
-14 |
-10 |
| Regional |
|
|
|
|
| Europe, Africa and Middle East |
628 |
748 |
-16 |
-10 |
| NAFTA |
551 |
593 |
-7 |
-7 |
| Latin
America |
95 |
121 |
-22 |
-20 |
| Asia
Pacific |
244 |
305 |
-20 |
-11 |
Seeds
Product line |
|
|
|
|
| Field Crops |
261 |
274 |
-5 |
-3 |
| Vegetables
and Flowers |
126 |
127 |
-1 |
+2 |
| Regional |
|
|
|
|
| Europe, Africa and Middle East |
193 |
197 |
-2 |
+3 |
| NAFTA |
169 |
179 |
-6 |
-6 |
| Latin
America |
12 |
11 |
+13 |
+13 |
| Asia
Pacific |
13 |
14 |
-10 |
-4 |
|
1) Unaudited pro forma
2) Constant exchange rates
Syngenta (NYSE: SYT) is the world's 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, and in London, New York and Stockholm. Further information is available at
www.syngenta.com.
Company news release
N3511 |
