Swiss agribusiness company Syngenta AG (SYT) reported Thursday that its first-quarter sales increased 6 percent driven by growth across all regions, except Asia Pacific.
Reported sales were $4.57 billion, higher than last year's $4.30 billion. In the first quarter, integrated sales increased 8 percent at constant exchange rates, with volumes up 6 percent and prices 2 percent higher.
Group sales including Lawn and Garden were up 7 percent. Excluding the impact of acquisitions and divestments in Lawn and Garden, group sales increased 8 percent.
In Europe, Africa and the Middle East sales rose 10 percent, driven in particular by the CIS, with further expansion of the product portfolio and higher acreage expectations for spring crops.
Chief Executive Officer Mike Mack said, "Business momentum was sustained in the first quarter of 2013 despite adverse weather in March delaying northern hemisphere plantings. Farmer sentiment remains strong and we will continue to drive innovative offers through a commercial organization which is now fully integrated in all territories."
Looking ahead for the full year, the company said it expects the impact of currencies and chemical raw materials to be broadly neutral and cost efficiencies to help offset lower licensing income and higher production costs in seeds.
The company also expects to generate significant free cash flow and sales growth in line with the target for eight key crops of $25 billion in 2020.
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