Consensus Forecasts
June 2010
Consensus compiled by Syngenta from forecasts by 23 analysts.
2010
| $ | High | Mean | Low |
| Sales | 12'190m | 11'532m | 11'059m |
| EBITDA* | 2'877m | 2'664m | 2'403m |
| Net Income* | 1'778m | 1'609m | 1'469m |
| Earnings per share (EPS)** | 19.08 | 17.25 | 15.93 |
2011
| $ | High | Mean | Low |
| Sales | 13'012m | 12'161m | 11'589m |
| EBITDA* | 3'167m | 2'888m | 2'515m |
| Net Income* | 1'962m | 1'784m | 1'527m |
| Earnings per share (EPS)** | 21.12 | 19.20 | 15.90 |
2010 Syngenta Outlook
In the second half of 2010 we expect positive volume momentum to continue. As we approach the main season in Latin America, we are assuming that the current favorable fundamentals will support further growth in our business there. This, coupled with careful control of costs and increasing profitability in Seeds, should allow us to achieve full year operating income* around last year’s level. We will also target a return on invested capital exceeding 20%.
* excluding restructuring & impairment
** EPS on a fully-diluted basis, excluding restructuring and impairment
Target Share Price
| CHF | High | Mean | Low |
| 365 | 314 | 250 | |
Analysts Covering Syngenta
The following list*** includes institutions that publish regular research reports on Syngenta. Their reports have been used to create the consensus forecast included above.
| Institution | Analyst | ||
| Bank am Bellevue | Bruno Eschli | ||
| Bank of America Merrill Lynch | Andrew Stott | ||
| BZ Bank Aktiengesellschaft | Nils Engel | ||
| CACheuvreux | Martin Roediger | ||
| Citigroup | Andrew Benson | ||
| Credit Suisse | Rhian Tucker | ||
| Deutsche Bank | Virginie Boucher-Ferte | ||
| DZ Bank | Heinz Müller | ||
| Exane BNP Paribas | Rim Bennani | ||
| Gilford Securities | Paul Christopherson | ||
| Goldman Sachs | Richard Logan | ||
| Helvea | Martin Flückiger | ||
| J.P. Morgan | Neil Tyler, Martin Evans | ||
| Kepler Capital Markets | Florian Gaiser | ||
| Main First Bank AG | Ronald Köhler | ||
| Morgan Stanley | Paul Walsh | ||
| Nomura | Jean De Watteville | ||
| NZB Neue Zürcher Bank | Bernd Pomrehn | ||
| Redburn Partners | Tony Jones | ||
| Soleil Securities Group | Mark Gulley | ||
| UBS | Thomas Gilbert | ||
| UniCredit MIB (HVB) | Andreas Heine | ||
| Vontobel | Patrick Rafaisz | ||
*** The above list is a selection of analysts currently covering Syngenta. We do not make any claim that this list is comprehensive of all institutions publishing regular research reports on Syngenta.
Any opinions, forecasts, estimates, projections or predictions regarding Syngenta's performance made by the analysts are theirs alone and do not represent the opinions, forecasts, estimates, projections or predictions of Syngenta. By providing these names, Syngenta does not imply its endorsement of or concurrence with their reports, conclusions or recommendations and Syngenta does not assume any liability for the accuracy of the information.
Please note that this list does not constitute a solicitation to buy, hold or sell securities.
