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Thursday, Oct 17
Syngenta Q3 revenues climb 11% to $2.93B
- Syngenta's (SYT) Q3 sales +11% at constant currency rates to $2.9B, almost in line with consensus of $2.93B.
- "Following a good start to the Latin American season, we remain on track to deliver full-year sales growth in line with our longer term target," says CEO Mike Mack.
- Because U.S. corn seed production yields are significantly ahead of expectations, Syngenta will write down the value of those seeds in excess of estimated sales for the coming season.
- Expects improved profitability in 2014 and maintains an EBITDA margin target of 22-24% for 2015.
- Syngenta, the world's largest agrochemicals company, says it's on track to generate $25B in sales of eight key crops in 2020. Overall sales were $14.2B in 2012. (PR)