Syngenta Shows Strong Performance
Syngenta International AG announced strong performance in 2003 that will provide a platform for future growth.
Sales were up 6 percent to $6.6 billion, net product sales were half a billion dollars, earings per share were up 36 percent to $3.56, free cash-flow of $562 million resulted in a dividend doubled to CHF 1.70, and a progressisve dividend-plus-share repurchase of more than $800 million return planned over the next three years.
With increased operational efficiency annual savings should be $300 million by 2008.
Heinz Imhof, chairman, said the company has demonstrated quality of its product portfolio and its ability to adapt to changing markets. He said the 2003 results reflect the determination of all employees in a highly competitive environment.
"Today's announcement attests to our commitment to create value for our shareholders, and this leads the Board to recommend an enhanced cash return to our shareholders," Imhof declared.