Syngenta Q1 Reported Sales Up 2%; Sales Rise 5% At CER - Quick Facts

(RTTNews) - Syngenta (SYT) reported first-quarter sales of $4.7 billion, compared to $4.6 billion, previous year; an increase of 5 percent at constant exchange rates. The company said the increase in reported sales was 2 percent owing to the depreciation of a number of emerging market currencies against the dollar.

Integrated sales rose by 5 percent at constant exchange rates, with volumes up 2 percent and prices 3 percent higher. Sales of Selective herbicides increased by 6 percent despite the delayed season in the USA. In seeds, Corn and soybean sales were unchanged, with US growers delaying planting decisions, the Group said.

Mike Mack, Chief Executive Officer said: "For the full year we maintain our sales growth expectation for the integrated business of 6 percent at constant exchange rates. Given the depreciation of a number of emerging market currencies in the first quarter, the impact of currencies on full year EBITDA is likely to be around $100 million compared with an earlier forecast of $50 million. We continue to forecast a significant increase in free cash flow before acquisitions to around $1.5 billion."