2013 Half Year Results
Basel, Switzerland, July 24, 2013
- Sales $8.4 billion, up 2 percent
- Underlying integrated sales excluding corn rootworm royalty 7 percent higher1
- growth across all regions
- Double digit growth in emerging markets
- Lower royalty income, higher seeds production costs
- EBITDA $2.2 billion: 3 percent lower, up 9 percent underlying
- Earnings per share2 $15.92: 7 percent lower, up 9 percent underlying
Reported Financial Highlights
| 1st Half 2013 | 1st Half 2012 | Actual | CER1 | |
| $m | $m | % | % | |
| Sales | 8,390 | 8,265 | +2 | +2 |
| Operating income | 1,792 | 1,821 | -2 | |
| Net income4 | 1,409 | 1,487 | -5 | |
| EBITDA | 2,179 | 2,250 | -3 | -5 |
| Earnings per share2 | $15.92 | $17.03 | -7 |
All figures expressed as underlying exclude $256m corn rootworm trait royalty income in 2012.
1 Growth at constant exchange rates.
2 Excluding restructuring and impairment; EPS on a fully-diluted basis.
3 2012 stated after effect of accounting policy change for employee benefits.
4 Net income to shareholders of Syngenta AG (equivalent to diluted earnings per share of $15.23).
Mike Mack, Chief Executive Officer, said:
“I am pleased that we delivered underlying integrated sales growth of seven percent in the first half despite unfavorable weather and late planting in the northern hemisphere. This reflects the success of full commercial integration and our ongoing expansion in emerging markets. Underlying profitability improved despite higher seeds production costs, with price increases across all product lines and tight control of operating expenses. New product launches demonstrated the power of our innovation and the scope of our integrated offers continues to expand.
Our customers are becoming increasingly aware of the need for a broad toolbox encompassing chemistry and genetics in order to maximize yield and improve crop quality and reliability. In the emerging markets, we continue to seek out opportunities to expand the range of technologies available to growers. Africa represents a major opportunity in this respect and we have just announced the acquisition of the MRI white corn seed business in Zambia, which is a further step towards our goal of building a $1 billion business in Africa by 2022. Our performance in the first half attests to our ability to achieve sustainable growth in both emerging and developed markets and reinforces our confidence in achieving integrated sales of $25 billion in 2020.”
Syngenta is one of the world's leading companies with more than 27,000 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.
Cautionary Statement Regarding Forward-Looking Statements
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 there for.
