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Feb. 5, 2014, 2:32 AM
- Syngenta's (SYT) 2013 net profit fell 11% to $1.64B and missed consensus of $1.71B, and while sales rose 3% to $14.69B, the figure undershot forecasts of $14.82B.
- Adjusted EPS -12% to $19.30, EBITDA -7% to $2.9B
- Syngenta's earnings were hurt by reduced trait royalty income, a rise of $175M in seed production expenses following the U.S. drought in 2012, and a seeds inventory write-down of $170M.
- The company intends to intensify its focus on "cost and capital efficiency" and plans to cut $1B a year by 2018.
- Syngenta intends to increase its dividend 5% to 10 Swiss francs ($11.06) per share.
- Syngenta expects 2014 integrated sales to increase at a similar rate to 2013. CEO Mike Mack said the company remains on course to reach its sales target of $25B by 2020. However, the firm forecasts that it will achieve the lower end of its target-margin range in 2015. (PR)
Oct. 17, 2013, 2:23 AM
- 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)
Jul. 24, 2013, 3:15 AMSyngenta (SYT): H1 net profit -5% to $1.41B vs consensus of $1.49B, reflecting an absence of royalty income of last year's corn rootworm trait, which was worth $256M. Underlying profit +9%. Sales +2% to $8.4B, underlying sales +7% despite unfavorable weather and late planting in the northern hemisphere. Expects to generate substantial free cash flow in H2, as well as an acceleration of underlying sales growth, "based on the positive outlook for Latin America and Asia Pacific." Shares -3.6% in Zurich. (PR) | Comment!
Apr. 18, 2013, 3:10 AMSyngenta (SYT): Q1 sales +6% to $4.6B vs consensus of $4.56B. Growth was strong in Latin America, particularly in Brazil, as well as in South East Europe and in France, supported by new fungicide launches. However, business in Italy and some northern European countries was weaker, due to to cold wet weather. Aims to boost sales from eight key crops to $25B by 2020. (PR) | Comment!
Feb. 6, 2013, 3:06 AMSyngenta (SYT): FY net income +17% to $1.87B vs consensus of $1.87B; adjusted EPS +15% to $22.30; EBITDA +8% to $3.15B; revenues +7% to $14.2B vs forecasts of $14.3B. Q4 sales +12% to $3.24B. Declares dividend of 9.50 Swiss francs per share. Chairman Martin Taylor and three directors to retire at upcoming AGM, board to propose two new directors. (PR) | Comment!
Oct. 23, 2012, 3:45 AMSyngenta (SYT): Q3 sales +1% to $2.7B vs consensus of $2.8B, +6% on a constant currency basis. Breakdown: crop protection +3% to $2.13B, seeds +2% to $442M. Latin America +18%, boosted by a strong start to the season as high soybean prices lead to expansion of acreage. N America -5%, Asia Pacific +3%, EMEA -10%. Reiterates FY forecast of increase in EBITDA margin and strong EPS growth. (PR) | Comment!
Jul. 26, 2012, 11:26 AMSyngenta (SYT +4.8%) reports H1 net income of $1.5B on revenues of $8.27B (+7% Y/Y), beating analyst estimates of $1.46B earnings on revenues of $8.19B, and sees a positive outlook for Latin America as soybean prices rise to a record. “Brazilian farmers have a great deal of incentive to have a very big crop, so we are looking forward to a big second half," CEO Mike Mack says. | Comment!
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Syngenta AG is involved in the discovery, development, manufacturing and marketing of products designed to improve crop yields and food quality.The Company is also engaged in the lawn and garden business.
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