2017 Half Year Results

26.7.2017

Innovation and productivity savings partially offset weak market conditions

  • Sales $6.9 billion: 2 percent lower compared with H1 2016
  • Sales of new products up 33 percent1 compared with H1 2016
  • EBITDA $1.7 billion: margin 24.2 percent (H1 2016: 24.9%)
  • Productivity savings on track

Reported Financial Highlights

  1st Half 2017 1st Half 2016 Actual CER1
  $m $m % %
Sales 6,920 7,094 -2 -2
Net income 928 1,064 -13  
         
EBITDA 1,675 1,767 -5 -9
Earnings per share2 12.32 12.69 -3  

1 At constant exchange rates

2 Excluding restructuring and impairment; EPS on a fully diluted basis

Erik Fyrwald, Chief Executive Officer, said:

“The first half of the year marked a historic moment in Syngenta’s history with the closing of the transaction with ChemChina.  With the support of ChemChina, we are fully focused on our objectives of strengthening our leadership in Crop Protection and of becoming a strong number three in Seeds.  We are ready to drive the determined execution of our new strategies for these businesses and have put in place a simplified organization aligned to best meeting the needs of our customers.

In the first half of 2017, despite adverse weather and low commodity prices, our sales in Europe, Africa and the Middle East and in North America were unchanged at constant exchange rates, with new products continuing to make a significant contribution. Our Latin America sales declined significantly again as the industry faces low commodity prices, and there are high channel inventories in Brazil. We continue to drive productivity and efficiency savings, partially offsetting the impact of the difficult market conditions on our profitability.

Looking ahead, we will be focused on profitable market share growth and on our ambition – to be the most collaborative and trusted team in agriculture, providing seeds and crop protection innovations to enhance the prosperity of farmers, wherever they are. In the first half of 2017, our innovations in Crop Protection enabled us to partially offset the impact of weak market conditions. Innovation is also a key driver for our Seeds business, and I am delighted that we recently received import approval in China for the Agrisure Duracade® trait. Obtaining the regulatory approval opens up new opportunities for our corn seed portfolio, giving US growers access to exciting new hybrids as well as the latest in corn rootworm technology.”

 

About Syngenta

Syngenta is a leading agriculture company helping to improve global food security by enabling millions of farmers to make better use of available resources. Through world class science and innovative crop solutions, our 28,000 people in over 90 countries are working to transform how crops are grown. We are committed to rescuing land from degradation, enhancing biodiversity and revitalizing rural communities. To learn more visit www.syngenta.com and www.goodgrowthplan.com. Follow us on Twitter® at www.twitter.com/Syngenta


Disclaimer

This press release is not an offer to purchase or a solicitation of an offer to sell any securities.

Cautionary statement regarding forward-looking statements

Some of the statements contained in this press release are forward-looking statements. These statements are based on current expectations, assumptions, estimates and projections, and involve known and unknown risks, uncertainties and other factors that may cause results, levels of activity, performance or achievements to be materially different from any forward-looking statements. These statements are generally identified by words or phrases such as "believe", "anticipate", "expect", "intend", "plan", "will", "may", "should", "estimate", "predict", "potential", "continue" or the negative of such terms or other similar expressions. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results and the timing of events may differ materially from the results and/or timing discussed in the forward-looking statements, and you should not place undue reliance on these statements. Syngenta disclaims any intent or obligation to update any forward-looking statements as a result of developments occurring after the period covered by this press release or otherwise.

Corporate Contacts

Media Office

Switzerland
Leandro Conti
Tel: +41 61 323 2323
Fax: +41 61 323 2424

USA
Paul Minehart
Tel: +1 202 737 8913

media.relations@syngenta.com

Investor Relations

Jennifer Gough
Switzerland +41 61 323 5059
USA +1 202 737 6521

global.investor_relations@syngenta.com

Corporate Responsibility

Shareholder Contacts

Shareholder Services
Syngenta AG
P.O. Box
CH-4002 Basel

Tel: +41 (0)61 323 2121
Fax: +41 (0)61 323 5461

shareholder.services@syngenta.com

Note: To add/edit content, please navigate through the Advanced Editing visible in the ribbon at the top.

Find it here

Expand all