Syngentas 3rd-qauter sales up

Date:10-24-2007

Strong sales across all regions and product categories boosted Syngentas crop protection sales by 19.4% to $1,436 million in the third quarter of 2007. At constant exchange rates (CER), third-quarter sales rose by 16%. Third-quarter fungicide sales increased by 28% at CER due to higher demand in major markets, following Europes "exceptional" disease pressure in fruit and vegetables. Non-selective herbicides were 36% ahead at CER and selective herbicide sales were 9% higher. Insecticide sales were up by 5% at CER, compared with last years weak performance.

For the first nine months of the year, agrochemical sales rose by 12.1% to $5,739 million (+9% at CER). Sales of new products rose by 19% to $949 million, led by the herbicides, Axial (pinoxaden + cloquintocet-mexyl safener) and Callisto (mesotrione), and the insecticide, Actara/Cruiser (thiamethoxam).

In the professional products segment, third-quarter sales were up by 10% at CER, while nine-month sales were up by 11%.

Syngentas agchem sales by category ($ million)
3rd qtr ended Sept 30th      2006     % change    2007
Herbicides                    434       +23.5      536
 selective                    255       +12.2      286
 non-selective                179       +39.7      250
Fungicides                    281       +32.7      373
Insecticides                  252       + 7.9      272
Professional products         219       +12.3      246
Others                         17       -47.1        9
Total                       1,203       +19.4    1,436
Nine months
Herbicides                  2,169       +11.6    2,420
 selective                  1,568       + 9.0    1,709
 non-selective                601       +18.3      711
Fungicides                  1,346       +15.6    1,556
Insecticides                  854       + 9.6      936
Professional products         709       +12.8      800
Others                         41       -34.1       27
Total                       5,119       +12.1    5,739
 
Third-quarter sales growth was led by Syngentas Latin American business. Its "strong" portfolio in South America, notably in Argentina and Brazil, boosted regional sales by 34% at CER. Sales in Europe, Africa and the Middle East increased by 12% at CER. "Continued progress" in China, India and emerging south-eastern Asian markets more than offset lower Japanese sales in the Asia/Pacific region and resulted in 4% growth at CER. Sales went up by 11% in the NAFTA region, reflecting "strong" US performance, particularly in herbicides, Syngenta says.

    Syngentas agchem sales by region ($ million)
3rd qtr ended Sept 30th        2006   % change     2007
Europe, Africa
& Middle East                   382     +18.3       452
NAFTA                           303     +11.9       339
Latin America                   308     +33.8       412
Asia/Pacific                    210     +11.0       233
Total                         1,203     +19.4     1,436
Nine months
Europe, Africa & Middle East  1,834     +15.8     2,123
NAFTA                         1,882     + 2.8     1,935
Latin America                   635     +35.6       861
Asia/Pacific                    768     + 6.8       820
Total                         5,119     +12.1     5,739
 
Syngentas seed sales rose by 27.5% (+23% at CER) to $283 million in the third quarter, driven largely by maize and soybeans in Latin America. Sales were up by 10.4% (7% at CER) to $1,701 million in the first nine months of the year. Syngentas overall sales rose by 21.1% (+17% at CER) to $1,709 million in the third quarter and by 11.9% (+9% at CER) to $7,399 million in the nine-month period.