Syngenta 1st-Qtr Sales Dip on Pricing, Cold Weather

Syngenta reported its first-quarter group sales of $3.7 billion were 1% lower from a year ago, hurt by lower pricing, cold weather in Northern and Central Europe, and reduced demand for fungicides and herbicides in Brazil and Paraguay.

Volumes were stable, while the more favorable currency trend which began in the second half of 2016 continued, with the Russian Ruble and the Brazilian Real strengthening against the dollar.

Erik Fyrwald, Chief Executive Officer, said: “While conditions for growers at the start of 2017 remain difficult, our business is steady and currencies are no longer a drag on our performance. For the full year we maintain our targets of low single digit growth in sales, an improvement in the EBITDA margin and strong free cash flow generation.

In recent weeks the ChemChina transaction has made very significant progress, with the receipt of regulatory approvals including the European Union and the USA. We look forward to closing the transaction in May 2017.”

Sales in Europe, Africa and the Middle East were unchanged despite a late start to the season in Northern and Central Europe, due to cold weather. This was offset by an excellent performance in South East Europe and ongoing growth in the CIS, as well as by solid growth in France due to the highly successful launch of ELATUS PLUS at the end of 2016.

In North America, a decline in Seeds sales was largely due to a timing difference in the receipt of trait royalties. Crop Protection sales showed robust growth driven by the ongoing success of TRIVAPRO, based on SOLATENOL.

In Latin America, sales were 3% lower. Dry weather in the second half of 2016, affecting the south of Brazil and Paraguay, reduced demand for fungicides and herbicides.

In Asia Pacific sales were up 4%. The main driver was ASEAN, with a continuing good corn seed performance. China grew based on the adoption of fungicides, notably AMISTAR®.

Sales of selective herbicides were primarily impacted by the late start to the season in Europe. In the USA, ACURON™ and DUAL GOLD® continued to expand despite competitive market conditions. Sales of non-selective herbicides were also lower due to softness in glyphosate. Growth in fungicides was driven by SOLATENOL™ based products in France, Germany and USA. This more than offset the impact of market weakness in Latin America. Insecticides sales were down due to lower sales in Northern Europe. Seedcare sales were slightly higher, with good performances by CRUISER® and FORTENZA® in Latin America.

Corn seed sales grew strongly in both Latin America and Asia Pacific. In North America corn sales were down due to trait royalty timing. Soybean sales were also slightly lower. Diverse field crops registered double digit growth driven primarily by sunflowers. Vegetables recorded growth in Europe and Latin America.

 

Topics: ,

Agrichemicals

Agrichemicals

Seed Firms’ Changes Bring Uncertainty, Promises

The months ahead will reveal what these altered players will look like and how they’ll work with dealers and growers. They’ll also show where companies are focusing efforts in trait development and crop systems.

Agrichemicals

Herbicide Debates Move Into the Courtroom

Over the past month, two herbicides, glyphosate and dicamba, have ended up with lawsuits filed in a pair of states.

Agrichemicals

Arysta LifeScience Names New Head of Europe, Middle East & Africa

Arysta LifeScience has named Hildo Brilleman as the company’s CEO of its Europe, Middle East & Africa (EMEA) region, effective

Agrichemicals

Missouri Latest U.S. State to Set Dicamba Cut-off Date for 2018

Missouri Department of Agriculture 'takes proactive measures to reduce off-target crop injury during the 2018 growing season.'

Agrichemicals

BASF Reports End of Season Dicamba Results

BASF field reps investigated 787 soybean symptomology claims during the 2017 season.

Agrichemicals

AMVAC’s Trogele: ‘Entire Downstream Channel of Our Industry Will Be Challenged’

AMVAC Chief Operating Officer Bob Trogele offered his insight on the current agrichemical environment, and on how retailers can possibly engage with post-patent companies.

Agrichemicals

Albaugh Enters Collaboration on New Wheat Varietites

Colorado Wheat Research Foundation, Inc., Albaugh, LLC and Limagrain Cereal Seeds, LLC have announced the release of the first two new herbicide-tolerant CoAXium Wheat Production System varieties.

monsanto roundup
Agrichemicals

Monsanto, Farm Groups Sue California Over Glyphosate Warning Requirement

Monsanto Co. says it has joined a coalition of U.S. farm groups in a lawsuit against the state of California to stop a requirement for cancer warnings on products containing glyphosate.

Agrichemicals

Arysta, DuPont Sign Fungicidal Seed Treatment Deal

Arysta LifeScience will supply to DuPont Crop Protection an innovative fungicide technology with an initial focus on corn and soybean seed applied products.

Agrichemicals

The Dicamba Factor to Weigh Heavily in 2018 Decisions

Other newer herbicides, too, are poised to expand growers’ options as weed resistance struggles show no signs of abating.

Agrichemicals

FMC Third-Quarter Profit Jumps on Americas Volume Growth

Third quarter segment revenue grew 6% year-over-year, excluding India.

Agrichemicals

EU Hits Deadlock on Glyphosate Reauthorization

The EU license for glyphosate is set to expire on Dec. 15.

Agrichemicals

Is it 2008 All Over Again? Chinese Supply Crunch Hits Crop Protection Players

Post-patent players, retailers seek out options and opportunities as the unknowns of supply constraints and consolidation from the Big 6 to the Big 3 take hold.

Agrichemicals

Nufarm to Acquire Portion of FMC’s Herbicides

Nufarm will acquire FMC's SU-class herbicides and Florasulam.

Agrichemicals

Arkansas Plant Board Votes to Adopt Dicamba Cut-Off Date

Changes will prohibit dicamba use in Arkansas between April 16 and Oct. 31.

Bayer
Agrichemicals

EU Restarts Clock on Bayer-Monsanto Deal Review

The European Commission has resumed its antitrust review of Bayer’s planned takeover of U.S. seed maker Monsanto after the companies

Adjuvants

Aqua-Yield Introduces New Herbicide Adjuvant

At only 4 oz./acre application rate, Aqua-Yield has introduced the industry game-changer, Nano-Pro. In university and field testing, Nano-Pro was

Rice Field
Asia

India Asks Germany to Resolve Early Fungicide Issue in Rice

India today asked Germany to address at the earliest the issue related to the tolerance level of fungicide tricyclazole in

Fungicides

Adama New Zealand Removes Mancozeb Cover Spray from Sale

Adama New Zealand, a member of Adama Group, a global crop protection leader, has reported it had pre-emptively recalled Mancozeb

Latest News

Agrichemicals

Seed Firms’ Changes Bring Uncertainty, Promises

The months ahead will reveal what these altered players will look like and how they’ll work with dealers and growers. They’ll also show where companies are focusing efforts in trait development and crop systems.

Agrichemicals

Herbicide Debates Move Into the Courtroom

Over the past month, two herbicides, glyphosate and dicamba, have ended up with lawsuits filed in a pair of states.

Americas

Valagro Launches Biostimulant in Brazil

After being launched in Spain, Egypt, Mexico and Italy, RETROSAL is being officially presented to the Brazilian market.

Agrichemicals

Arysta LifeScience Names New Head of Europe, Middle East & Africa

Arysta LifeScience has named Hildo Brilleman as the company’s CEO of its Europe, Middle East & Africa (EMEA) region, effective

Agrichemicals

Missouri Latest U.S. State to Set Dicamba Cut-off Date for 2018

Missouri Department of Agriculture 'takes proactive measures to reduce off-target crop injury during the 2018 growing season.'