Basel, Switzerland, July 26, 2012 


Sustained sales and earnings growth




         
  • Sales $8.3 billion, up 7 percent; up 10 percent at constant exchange rates (CER)1
    •      
  • Strong northern hemisphere performance
    •      
  • Corn seed sales up 47 percent

           
    • trait milestones reached, royalty recognition
      •      
    • strong underlying growth
    •      
  • EBITDA up 15 percent at CER
    •      
  • Net income $1.5 billion, up 5 percent
    •      
  • Earnings per share2 $17.17, up 10 percent

 

Reported Financial Highlights












  1st Half 2012 1st Half 2011 Actual CER1
  $m $m % %
Sales 8,265 7,702 + 7 + 10
Operating income 1,839 1,830 -  
Net income3 1,500 1,427 + 5  
         
EBITDA 2,268 2,149 + 6 + 15
Earnings per share2 $17.17 $15.60 +10  
1 Growth at constant exchange rates.
2 Excluding restructuring and impairment; EPS on a fully-diluted basis.
3 Net income to shareholders of Syngenta AG (equivalent to diluted earnings per share of $16.31).

Mike Mack, Chief Executive Officer, said:


“In the first half of 2012 we continued implementation of our integrated strategy while again delivering double digit top line growth. Sales were strong in the key northern hemisphere season despite a cold start in Europe followed by heavy rain in the second quarter. An excellent performance in North America reflected early plantings and widespread optimism for the season coupled with strong demand for our resistance management offers. Our technology investments in corn traits resulted in market share gains in Latin America and royalty income from third parties. We continued to invest in growing the business globally while delivering a substantial increase in underlying profitability.

“Weather conditions in Europe and more recently North America have resulted in sharp increases in crop prices. This has again brought to the fore the volatility frequently confronting growers. The challenge of food production is essentially a global one, but grower responses are driven by a multitude of local influences and considerations. The breadth of our toolbox allows us not only to respond to but also inform the choices being made daily in farms around the world. The need for technology in agriculture was never greater than it is today, and we believe that our integrated strategy can enhance the value of that technology for customers and shareholders alike.”

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Announcements and Meetings








Crop update   September 24-26, 2012
Third quarter trading statement 2012   October 23, 2012
Full year results 2012   February 06, 2013
First quarter trading statement 2013   April 18, 2013
Syngenta is one of the world's leading companies with more than 26,000 employees in over 90 countries dedicated to our purpose: Bringing plant potential to life.  Through world-class science, global reach and commitment to our customers we help to increase crop productivity, protect the environment and improve health and quality of life.  For more information about us please go to www.syngenta.com.