Syngenta Media Releases:
Half Year Results 2008: Strong performance, positive outlook
Basel, Switzerland, July 24, 2008
- Sales up 20 percent at constant exchange rates to $7.3 billion
- Crop Protection sales up 21 percent(2) at $5.55 billion
- Seeds sales up 15 percent(2) to $1.74 billion
- Earnings per share(1) up 36 percent to $16.53
- Earnings per share $15.93 after restructuring and impairment
- Capacity expansion to meet longer term demand growth
|
Reported Financial Highlights |
|
Excluding Restructuring, Impairment |
|||||
|---|---|---|---|---|---|---|---|---|
| H1 2008 |
H1 2007 |
Actual |
|
H1 2008 |
H1 2007 |
Actual |
CER(2) |
Sales |
7295 |
5690 |
+28 |
|
7295 |
5690 |
+28 |
+20 |
Net Income(3) |
1519 |
1219 |
+25 |
|
1576 |
1190 |
+33 |
- |
Earnings per share |
$15.93 |
$12.43 |
+28 |
|
$16.53 |
$12.13 |
+36 |
- |
Excluding 2007 non-recurring income |
|
$16.53 |
$11.75 |
+41 |
- |
|||
(1) EPS on a fully-diluted basis, excluding restructuring and impairment.
(2) Growth at constant exchange rates, see Appendix A.
(3) Net income to shareholders of Syngenta AG.
Mike Mack, Chief Executive Officer, said:
“Rising commodity prices and their impact on the cost of food have heightened awareness of the vital role of agriculture. The challenge of increasing global food supply by 50 percent over the next 20
years means that not only must yield improvements continue but their pace must accelerate. Syngenta’s performance in the first half of 2008 illustrates the role that technology is already playing
in driving land productivity. Strong growth across all regions demonstrates the readiness of growers worldwide to invest more in their crops. Our confidence in the prospects for our Crop Protection
business is evidenced by our decision to invest in new capacity for products for which we see a substantial increase in sales potential. In Seeds, growing recognition of the value of our Corn and
Soybean offer and pipeline is being accompanied by rapid growth in Oilseeds and Vegetables. Across all our businesses, we are intensifying our focus on emerging markets in order to bring the benefits
of modern agricultural technology to countries where the need for productivity gains is most pronounced.”
Half Year Results 2008 [Short Version] (PDF - 95 KB)
Syngenta Analyst / Investor Enquiries:
| Jennifer Gough | Switzerland | +41 61 323 5059 |
| USA | +1 202 737 6521 | |
| John Hudson | Switzerland | +41 61 323 6793 |
| USA | +1 202 737 6520 |
Syngenta Media Enquiries:
| Médard Schoenmaeckers | Switzerland | +41 61 323 2323 |
| Anne Burt | USA | +1 202 628 2372 |
This document contains forward-looking statements, which can be identified by terminology such as ‘expect’, ‘would’, ‘will’, ‘potential’, ‘plans’, ‘prospects’, ‘estimated’, ‘aiming’, ‘on track’ and similar expressions. Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements. We refer you to Syngenta's publicly available filings with the U.S. Securities and Exchange Commission for information about these and other risks and uncertainties. Syngenta assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors. This document does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer, to purchase or subscribe for any ordinary shares in Syngenta AG, or Syngenta ADSs, nor shall it form the basis of, or be relied on in connection with, any contract therefor.
