February 7, 2013

 

For 2012, Sygenta reports sales $14.2 billion, up 7%, or up 10% at constant exchange rates (CER) for 2012, marking continued sales momentum and record earnings.

The company also posts strong fourth quarter results for North and Latin America, with double digit Seeds growth in all regions (CER). EBITDA was up 17% at CER; and net income was $1.9 billion, up 17%.

CEO Mike Mack 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 8% and 11% respectively."

He adds, "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."