Syngenta Annual Review 2010 - CEO Water Mandate
Syngenta Annual Review 2010 - CEO Water Mandate
Syngenta Annual Review 2010 - CEO Water Mandate
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<strong>Syngenta</strong><br />
<strong>Annual</strong> <strong>Review</strong> <strong>2010</strong><br />
Chief Executive Officer’s letter<br />
04<br />
Integrating<br />
our offer<br />
“The path <strong>Syngenta</strong> is now pursuing recognizes<br />
the imperative of yield gain but also goes beyond<br />
it, to encompass all the resources involved in<br />
achieving global food security.”<br />
1.<br />
<strong>Syngenta</strong>’s results for <strong>2010</strong> illustrate the transformation<br />
in the scale of the Company since its creation ten years<br />
ago. Sales of $11.6 billion are 84 percent higher and<br />
earnings per share of $16.44 compared with $2.20 in<br />
2001. While agricultural markets have certainly<br />
expanded over the period, these figures also reflect<br />
steady gains in market share and an outstanding<br />
record of innovation. In addition, continuing focus on<br />
operational efficiency has increased profitability while<br />
creating the headroom for investments in strategic<br />
growth areas. Most notably we have expanded our<br />
presence in the emerging markets, which now<br />
account for almost 50 percent of sales.<br />
Emerging markets were the main driver of our Crop<br />
Protection business in <strong>2010</strong>, enabling us to achieve<br />
growth in sales over the previous year. We achieved<br />
this in the face of a highly competitive pricing<br />
environment, notably in North America, which led to<br />
a reduction in group earnings in the first half. This was<br />
offset by higher operating income in the second half,<br />
with rapid growth in the emerging markets of Asia<br />
Pacific and strong demand in the main season in<br />
Latin America.<br />
In Latin America, we have been attentive to multiple<br />
opportunities across crops in the many countries of<br />
the region, while maintaining our leading position for<br />
soybean in the key Brazilian market. This reflects the<br />
success of PRIORI XTRA ® , based on our world<br />
leading fungicide AMISTAR ® . Global sales of<br />
AMISTAR ® reached $1.2 billion in <strong>2010</strong> with growth<br />
of 20 percent (CER) on the previous year, demonstrating<br />
the excellence in product development which enables<br />
us to maximize product lifecycles and to maintain high<br />
margins on blockbuster products. The opening of<br />
new capacity for AMISTAR ® at Grangemouth,<br />
2.<br />
3.<br />
4.
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