FULL YEAR: SYNGENTA'S SALES UP 7%, EARNINGS UP 17%
Feb. 6, 2013
Source: Syngenta news release
To read the entire report click here.
*Sales $14.2 billion, up 7 percent; up 10 percent at constant exchange rates (CER)1
- strong fourth quarter in North and Latin America
- double digit Seeds growth in all regions (CER)
*EBITDA up 17 percent at CER
*Net income $1.9 billion, up 17 percent
*Earnings per share2 $22.30, up 15 percent
*Free cash flow before record level of acquisitions: $0.9 billion
*Proposed dividend increased by 19 percent to CHF 9.50
Mike Mack, Chief Executive Officer, said:
"In 2012, crop prices rose sharply as adverse weather conditions in several regions resulted in significant production shortfalls, once again highlighting the fragility of global supply.
Growers in the affected regions had to adapt quickly in terms of planting and investment decisions, while also dealing with ongoing challenges such as weed and insect resistance.
The strong growth in Syngenta's sales reflected our flexibility in providing solutions across crops and, increasingly, in addressing agronomic challenges through our integrated offers.
These are proving their worth in developed and emerging regions alike, contributing to growth rates of eight percent and 11 percent respectively.
"Since the announcement of our new strategy two years ago, we have been driving the development of our portfolio by crop. The results already achieved in the field and the potential for new integrated offers have enabled us to increase target sales for our eight strategic crops to $25 billion by 2020.
In addition, last year we made a number of acquisitions to secure new technologies. We were able to do so while maintaining a strong balance sheet as evidenced by the proposal of another substantial increase in the dividend."