- Monsanto reported strong financial results for the first quarter of 2009, with net sales increasing 29% and net income up 117% compared to the first quarter of 2008.
- Gross profit for Roundup and other glyphosate-based herbicides increased 65% driven by higher prices globally and strength in Brazil.
- Corn and soybean seed and traits segments are performing well with U.S. orders on track and international launches progressing as planned.
- Monsanto reiterated fiscal year 2009 ongoing earnings growth guidance of 20-24% and free cash flow projection of over $1.8 billion.
Terry Crews, Chief Financial Officer of Bank of America, presented at the 38th Annual Investment Conference on September 16, 2008. The presentation discussed Monsanto's growth opportunity in agricultural productivity through increased demand for yield and innovation to meet that demand. Monsanto aims to double its gross profit from 2007 to 2012 through expanding its seed footprint and introducing valuable biotech traits. Corn seeds and traits were highlighted as demonstrating strong financial growth and momentum through increased market share and trait penetration.
Monsanto reported strong financial results for the fourth quarter and full fiscal year 2008. Net sales increased 35% in the fourth quarter and 36% for the full fiscal year. Diluted EPS on an ongoing basis improved 83% in the fourth quarter and 84% for the full fiscal year. Seeds and traits segments all saw gross profit increases. Over 70% of $2.8 billion in operating cash was used for acquisitions, technology collaborations, and capital investments to support growth. Monsanto expects another year of double-digit earnings growth in 2009, driven by continued strength in seeds and traits.
The document provides an overview of Monsanto's third-quarter 2006 financial results and strategic initiatives. Key points include:
- Net sales for Q3 2006 were $2.348 billion, up 15% from Q3 2005, driven by growth in seeds and traits.
- Net income for Q3 2006 was $334 million, up 611% from Q3 2005, due to acquisitions and increased penetration of key traits.
- Monsanto is focusing on growth in traits like Roundup Ready 2 corn and developing product pipelines like drought-tolerant corn and Vistive III soybeans.
- The company aims to expand seeds and traits globally and leverage acquisitions like Seminis to unlock additional value
- The document provides financial results and forecasts for Monsanto Company for the second quarter of 2007 and fiscal year 2007.
- Net sales for the second quarter of 2007 were $2.6 billion, up 15% from the previous year. Earnings per share on an as-reported basis were $0.98, up 25% from the prior year.
- For fiscal year 2007, Monsanto increased guidance and now expects earnings per share of $1.60-1.65, representing 22-26% growth over the previous year, and free cash flow of $875-950 million.
Brett Begeman, Executive Vice President of International Commercial at Citigroup Investment Research, presented at the 16th Annual Investment Conference on December 7, 2005. The presentation included forward-looking statements and defined non-GAAP financial measures. It provided an overview of Monsanto's two-step strategy to grow its current portfolio globally and lead through innovation. Monsanto sources the world's corn and soy needs, and acceleration in seeds and traits is driving commercial gross profit evolution.
Terry Crews, Chief Financial Officer of Monsanto Company, presented at the UBS Best of Americas Conference on May 31, 2006. Monsanto is an agricultural company focused on helping farmers increase their productivity and profitability through seeds and traits. Their strategy is played out across four core crop franchises: corn, cotton, soybeans, and vegetables. Breeding and biotechnology provide parallel paths to develop products that enhance yield, and the successful application of traits in corn opens opportunities to replicate this strategy in other crops to drive continued growth.
- Net sales for Q1 2006 were $1.405 billion, up 31% from $1.072 billion in Q1 2005. Gross profit was $634 million, up 29% from $491 million. Net income was $59 million compared to a net loss of $40 million in Q1 2005.
- Guidance for FY2006 targets earnings per share on an ongoing basis in the range of $2.35-$2.50 toward the upper end. Free cash flow is expected to be $825-$900 million.
- Success with variable-based pricing for Bollgard cotton traits showed increased penetration in marginal to modest infestation zones, driving overall increased value capture per acre over
This document provides a financial summary and strategic review for Monsanto for the fourth quarter and full year of 2006. Some key points:
- Net sales for Q4 2006 were $1.39 billion, up 9% from Q4 2005. Full year 2006 net sales were $7.34 billion, up 17% from 2005.
- Reported EPS for Q4 2006 was $-0.27 per share, down 17% from Q4 2005. Full year 2006 reported EPS was $1.25 per share, up 166% from 2005.
- The company achieved market share gains in key crops like US corn and soybeans as well as international markets like France and Italy.
- Opportunities for continued
Terry Crews, Chief Financial Officer of Bank of America, presented at the 38th Annual Investment Conference on September 16, 2008. The presentation discussed Monsanto's growth opportunity in agricultural productivity through increased demand for yield and innovation to meet that demand. Monsanto aims to double its gross profit from 2007 to 2012 through expanding its seed footprint and introducing valuable biotech traits. Corn seeds and traits were highlighted as demonstrating strong financial growth and momentum through increased market share and trait penetration.
Monsanto reported strong financial results for the fourth quarter and full fiscal year 2008. Net sales increased 35% in the fourth quarter and 36% for the full fiscal year. Diluted EPS on an ongoing basis improved 83% in the fourth quarter and 84% for the full fiscal year. Seeds and traits segments all saw gross profit increases. Over 70% of $2.8 billion in operating cash was used for acquisitions, technology collaborations, and capital investments to support growth. Monsanto expects another year of double-digit earnings growth in 2009, driven by continued strength in seeds and traits.
The document provides an overview of Monsanto's third-quarter 2006 financial results and strategic initiatives. Key points include:
- Net sales for Q3 2006 were $2.348 billion, up 15% from Q3 2005, driven by growth in seeds and traits.
- Net income for Q3 2006 was $334 million, up 611% from Q3 2005, due to acquisitions and increased penetration of key traits.
- Monsanto is focusing on growth in traits like Roundup Ready 2 corn and developing product pipelines like drought-tolerant corn and Vistive III soybeans.
- The company aims to expand seeds and traits globally and leverage acquisitions like Seminis to unlock additional value
- The document provides financial results and forecasts for Monsanto Company for the second quarter of 2007 and fiscal year 2007.
- Net sales for the second quarter of 2007 were $2.6 billion, up 15% from the previous year. Earnings per share on an as-reported basis were $0.98, up 25% from the prior year.
- For fiscal year 2007, Monsanto increased guidance and now expects earnings per share of $1.60-1.65, representing 22-26% growth over the previous year, and free cash flow of $875-950 million.
Brett Begeman, Executive Vice President of International Commercial at Citigroup Investment Research, presented at the 16th Annual Investment Conference on December 7, 2005. The presentation included forward-looking statements and defined non-GAAP financial measures. It provided an overview of Monsanto's two-step strategy to grow its current portfolio globally and lead through innovation. Monsanto sources the world's corn and soy needs, and acceleration in seeds and traits is driving commercial gross profit evolution.
Terry Crews, Chief Financial Officer of Monsanto Company, presented at the UBS Best of Americas Conference on May 31, 2006. Monsanto is an agricultural company focused on helping farmers increase their productivity and profitability through seeds and traits. Their strategy is played out across four core crop franchises: corn, cotton, soybeans, and vegetables. Breeding and biotechnology provide parallel paths to develop products that enhance yield, and the successful application of traits in corn opens opportunities to replicate this strategy in other crops to drive continued growth.
- Net sales for Q1 2006 were $1.405 billion, up 31% from $1.072 billion in Q1 2005. Gross profit was $634 million, up 29% from $491 million. Net income was $59 million compared to a net loss of $40 million in Q1 2005.
- Guidance for FY2006 targets earnings per share on an ongoing basis in the range of $2.35-$2.50 toward the upper end. Free cash flow is expected to be $825-$900 million.
- Success with variable-based pricing for Bollgard cotton traits showed increased penetration in marginal to modest infestation zones, driving overall increased value capture per acre over
This document provides a financial summary and strategic review for Monsanto for the fourth quarter and full year of 2006. Some key points:
- Net sales for Q4 2006 were $1.39 billion, up 9% from Q4 2005. Full year 2006 net sales were $7.34 billion, up 17% from 2005.
- Reported EPS for Q4 2006 was $-0.27 per share, down 17% from Q4 2005. Full year 2006 reported EPS was $1.25 per share, up 166% from 2005.
- The company achieved market share gains in key crops like US corn and soybeans as well as international markets like France and Italy.
- Opportunities for continued
The document provides an overview of Monsanto's breeding and biotechnology research and development processes. It discusses how Monsanto uses both breeding improvements through germplasm selection and molecular markers, as well as biotechnology traits, to develop seeds with higher yields. The goal is to double crop yields by 2030 to help meet growing global food demand. Monsanto invests heavily in breeding research including building a large germplasm library and developing molecular marker technologies. Both breeding and biotech provide pathways to developing improved commercial products, and combining them allows Monsanto to maximize yield gains for farmers.
This document provides an overview and schedule for Monsanto's "Whistle Stop III" investor event focusing on their soybean and corn platforms. Key points include:
- Monsanto's five-year plan aims to double gross profit by 2012 by more than doubling their seeds and traits segment through innovations in corn and soybeans.
- For 2008, corn seeds and traits are forecast to grow 25% while soybeans are forecast 15% growth with preparations for the Roundup Ready 2 Yield launch.
- For 2009, corn seeds are forecast 25-30% growth while soybeans are forecast over 5% growth with the Roundup Ready 2 Yield commercial release in soybeans.
- The two-day
Monsanto is acquiring CanaVialis S.A. and Alellyx S.A., two Brazilian sugar cane breeding and technology companies, representing an R&D platform investment in sugar cane. Sugar cane is grown on nearly 50 million acres worldwide, with Brazil being the largest market and producer. The acquisition will provide Monsanto access to the largest private sugar cane breeder and its partner for developing Bt and Roundup Ready sugar cane traits, allowing Monsanto to leverage its experience in row crops for sugar cane breeding and biotechnology over the long term.
The document discusses Monsanto's acquisition of Delta and Pine Land for $1.5 billion. The acquisition will create a new global cotton platform and allow Monsanto to accelerate the penetration of biotech traits. It is expected to be accretive to earnings in the second year and contribute positively to operating cash in the first year. The deal will require regulatory approval and Monsanto may divest its Stoneville cotton seed business. The combined company will have the most advanced seeds and traits portfolio and commercial distribution channels in cotton globally.
Monsanto provides concise summaries of documents in 3 sentences or less.
Monsanto has shifted from crop chemicals to seeds and traits, with seeds and traits expected to generate $9.1 billion in sales by 2008 compared to $7.6 billion for the entire agricultural industry in 1996. Monsanto leads the seed and trait market through its strong germplasm and biotechnology offerings for major crops like corn, soybeans, and cotton. Monsanto's research and development pipeline focuses on elite germplasm, biotechnology traits, and other innovations to deliver benefits to farmers, processors, and consumers.
The document summarizes CSX's third quarter 2006 earnings presentation. It reports that CSX had record third quarter revenues of $2.4 billion, up 14% from the previous year. Surface transportation operating income increased 31% to $489 million. Comparable earnings per share increased 50% to $0.54, excluding insurance recoveries and tax benefits. CSX also initiated a $500 million share buyback program and expects to deliver over $300 million in free cash flow for 2006. Overall, CSX's core strategies are sustaining solid momentum and financial performance.
Gafisa reported strong financial results for 1Q10, with launches totaling R$703 million, up 339% YoY. Pre-sales reached R$857 million, a 53.5% increase YoY. Net revenue rose 67% to R$908 million, while adjusted EBITDA increased 120% to R$169 million with an 18.6% margin. Gafisa continued expanding its national footprint and consolidated land bank, which totaled R$15.6 billion. The company also completed a follow-on share offering that raised R$1.02 billion to fund growth initiatives.
The document discusses JBS S.A.'s 4th quarter 2009 results. It shows that JBS has grown significantly through acquisitions over the past 15 years, with revenues increasing from $0.3 billion in 1996 to an estimated $30.3 billion in 2009. A chart displays JBS' EBITDA growth over time, with EBITDA margins ranging from 4.3% to 13.6% between 1999-2009. The document provides an overview of JBS as the leading animal protein producer worldwide with over 125,000 employees across operations in South America, North America, Europe, and Oceania.
Public meeting presentation with analysts and investorsGafisa RI !
Gafisa is a leading Brazilian residential real estate developer founded in 1954. The presentation provides an overview of Gafisa's history, strategy, growth, product portfolio, land bank, management team, and construction processes. Gafisa's strategy is to become Brazil's largest developer through revenue growth, focus on high-return opportunities, geographic diversification, and financial discipline. The company has a large land bank that will fuel continued growth, and an experienced management team to lead its expansion into new markets across Brazil.
Brett Begemann, Executive Vice President of Monsanto, presented at an investor day on November 8, 2007. He outlined Monsanto's strategic plan to double gross profit from soybeans over the next 5 years through the launch of its Roundup Ready 2 Yield soybean technology. This new technology was shown to provide a 7-11% yield advantage over previous Roundup Ready soybeans. Monsanto planned to launch Roundup Ready 2 Yield on 5-6 million U.S. acres by 2010-2012 and expected it to more than compensate for any competitive offerings in the marketplace.
1) Monsanto is acquiring Emergent Genetics, the third-largest player in key cotton markets in the US and India, for $300 million plus working capital adjustments.
2) The acquisition will accelerate Monsanto's growth in high-value cotton seeds and traits by providing access to Emergent's germplasm, seed market share, and established brands.
3) Significant synergies are expected from the acquisition, including $5-6 million in annual SG&A cost reductions, as well as increased seed market share and trait penetration over the next four years.
Brett Begeman discussed Monsanto's strategy to more than double gross profit from corn by 2012 through organic growth of their existing business and pipeline. Key points include:
- Growing U.S. and international corn market share through new hybrids and traits like SmartStax corn which could reset the industry standard after 2010.
- Nearly tripling U.S. penetration of triple-stack traits from 17.7 million acres in 2007 to 45-55 million acres by 2010 through new products and programs.
- Maintaining a strong yield advantage of DEKALB hybrids in the U.S., including 8.4 bushels/acre over competitors in 2007, to drive continued share gains.
-
Hugh Grant, Chairman and CEO of Monsanto Company, presented at the Sanford C. Bernstein Strategic Decisions Conference on June 2, 2006. In his presentation, he discussed how increased grain production will be required to meet changing global food demands, and how Monsanto's seeds and traits strategy focuses on delivering yield gains through breeding and biotechnology across their core crop franchises of corn, cotton, soybeans and vegetables. He also outlined opportunities for continued penetration of existing biotech traits in key markets through 2010.
1) Monsanto's two-step strategy through 2010 aims to first grow its current seed and trait portfolio globally and then lead through innovation and in increasingly competitive markets.
2) Key opportunities for growth include expanding corn market share in Europe, India, and Argentina through global breeding programs and channel strategies tailored for each market.
3) Continued adoption of second-generation stacked traits in major crops and markets like India, Australia, and Brazil will drive additional value and market expansion through the end of the decade.
The document provides an overview of JBS S.A., a leading global protein producer, for the first quarter of 2010. Key highlights include:
- Net revenue increased 35.4% year-over-year to R$12.55 billion due to acquisitions.
- EBITDA increased 307.5% to R$862 million with margins improving from 2.3% to 6.9%.
- Net profit was R$99.4 million compared to a prior year loss of R$322.7 million.
- The US beef business posted a record EBITDA of US$170.5 million and 6% margins for the quarter.
- Mercosul
Terry Crews, Chief Financial Officer of Monsanto, presented at the 35th Annual Investment Conference hosted by Banc of America Securities on September 21, 2005. Monsanto's seeds and traits strategy has driven strong earnings performance, with ongoing EPS growth of 12% in 2003-2004 and an estimated growth rate of 26-29% for 2005. Financial discipline has established seeds and traits as the foundation of Monsanto's strategy, with gross profit from seeds and traits exceeding that of Roundup herbicide in 2003. Monsanto expects to continue accelerating the performance of its seeds and traits business in 2006-2007.
The document provides financial results for Monsanto's first quarter of 2006 compared to the first quarter of 2005. Some key points:
- Net sales increased 31% to $1.405 billion compared to $1.072 billion. Gross profit increased 29% to $634 million from $491 million.
- Net income was $59 million compared to a net loss of $40 million in the prior year. Diluted earnings per share was $0.22 compared to a loss of $0.15 in 2005.
- Guidance for full fiscal year 2006 reflects continued momentum in seeds and traits business with EPS targeted between $2.35-$2.50 and free cash flow between $825-$900 million
Hugh Grant, Chairman and CEO of Monsanto, presented at the Basic Materials Conference on February 21, 2006. He outlined that Monsanto is on track or exceeding expectations for fiscal years 2006 and 2007, with earnings per share growth of up to 20% and free cash flow of $825-900 million projected. Key commercial commitments, including increased US corn and cotton market shares, were also presented.
This document provides a financial summary and strategic review for Monsanto for the fourth quarter and full year of 2006. Some key points:
- Net sales for Q4 2006 were $1.39 billion, up 9% from Q4 2005. Full year 2006 net sales were $7.34 billion, up 17% from 2005.
- Reported EPS for Q4 2006 was $-0.27 per share, down 17% from Q4 2005. Full year 2006 reported EPS was $1.25 per share, up 166% from 2005.
- Monsanto has demonstrated leadership in corn and cotton seeds and traits, and sees continued opportunities for market penetration globally.
This document provides an overview of Monsanto's pipeline and commercial opportunities. It summarizes Monsanto's seeds and traits strategy, noting that farmers buy yield which opens opportunities for Monsanto to provide genetic gain through seeds and preserve that gain through technology/traits. The pipeline update highlights progress in corn and cotton breeding programs as well as the addition of Seminis and opportunities it provides. Discovery efforts are fueling pipeline expansion and commercial prospects.
The document provides an overview of Monsanto's financial results for the first quarter of 2009 and outlook. Key points include:
- Net sales increased 29% to $2.6 billion compared to first quarter 2008.
- Net income increased 117% to $556 million.
- Gross profit from Roundup and other glyphosate herbicides increased 65% due to price increases globally and strength in Brazil.
- Corn and soybean seed and traits also saw gross profit increases of 41% and 31% respectively.
- Guidance for full year 2009 forecasts ongoing earnings per share growth of 20-24% and continued growth across major business segments.
- Monsanto's biotech pipeline is progressing with two projects advancing from Phase 3 to Phase 4 and one project added in sugarcane, accelerating expansion.
- Key yield and stress products are advancing, including drought tolerant corn moving into Phase 4 and higher yielding soybeans into Phase 3.
- Final yield trials show DEKALB corn outyielding competitors with an average 3-year advantage of 11.5 bushels per acre, reinforcing DEKALB's yield leadership.
- New 2009 Deltapine cotton varieties provide greater value to growers, outperforming competitors and existing varieties by 5-12% across regions.
The document provides an overview of Monsanto's breeding and biotechnology research and development processes. It discusses how Monsanto uses both breeding improvements through germplasm selection and molecular markers, as well as biotechnology traits, to develop seeds with higher yields. The goal is to double crop yields by 2030 to help meet growing global food demand. Monsanto invests heavily in breeding research including building a large germplasm library and developing molecular marker technologies. Both breeding and biotech provide pathways to developing improved commercial products, and combining them allows Monsanto to maximize yield gains for farmers.
This document provides an overview and schedule for Monsanto's "Whistle Stop III" investor event focusing on their soybean and corn platforms. Key points include:
- Monsanto's five-year plan aims to double gross profit by 2012 by more than doubling their seeds and traits segment through innovations in corn and soybeans.
- For 2008, corn seeds and traits are forecast to grow 25% while soybeans are forecast 15% growth with preparations for the Roundup Ready 2 Yield launch.
- For 2009, corn seeds are forecast 25-30% growth while soybeans are forecast over 5% growth with the Roundup Ready 2 Yield commercial release in soybeans.
- The two-day
Monsanto is acquiring CanaVialis S.A. and Alellyx S.A., two Brazilian sugar cane breeding and technology companies, representing an R&D platform investment in sugar cane. Sugar cane is grown on nearly 50 million acres worldwide, with Brazil being the largest market and producer. The acquisition will provide Monsanto access to the largest private sugar cane breeder and its partner for developing Bt and Roundup Ready sugar cane traits, allowing Monsanto to leverage its experience in row crops for sugar cane breeding and biotechnology over the long term.
The document discusses Monsanto's acquisition of Delta and Pine Land for $1.5 billion. The acquisition will create a new global cotton platform and allow Monsanto to accelerate the penetration of biotech traits. It is expected to be accretive to earnings in the second year and contribute positively to operating cash in the first year. The deal will require regulatory approval and Monsanto may divest its Stoneville cotton seed business. The combined company will have the most advanced seeds and traits portfolio and commercial distribution channels in cotton globally.
Monsanto provides concise summaries of documents in 3 sentences or less.
Monsanto has shifted from crop chemicals to seeds and traits, with seeds and traits expected to generate $9.1 billion in sales by 2008 compared to $7.6 billion for the entire agricultural industry in 1996. Monsanto leads the seed and trait market through its strong germplasm and biotechnology offerings for major crops like corn, soybeans, and cotton. Monsanto's research and development pipeline focuses on elite germplasm, biotechnology traits, and other innovations to deliver benefits to farmers, processors, and consumers.
The document summarizes CSX's third quarter 2006 earnings presentation. It reports that CSX had record third quarter revenues of $2.4 billion, up 14% from the previous year. Surface transportation operating income increased 31% to $489 million. Comparable earnings per share increased 50% to $0.54, excluding insurance recoveries and tax benefits. CSX also initiated a $500 million share buyback program and expects to deliver over $300 million in free cash flow for 2006. Overall, CSX's core strategies are sustaining solid momentum and financial performance.
Gafisa reported strong financial results for 1Q10, with launches totaling R$703 million, up 339% YoY. Pre-sales reached R$857 million, a 53.5% increase YoY. Net revenue rose 67% to R$908 million, while adjusted EBITDA increased 120% to R$169 million with an 18.6% margin. Gafisa continued expanding its national footprint and consolidated land bank, which totaled R$15.6 billion. The company also completed a follow-on share offering that raised R$1.02 billion to fund growth initiatives.
The document discusses JBS S.A.'s 4th quarter 2009 results. It shows that JBS has grown significantly through acquisitions over the past 15 years, with revenues increasing from $0.3 billion in 1996 to an estimated $30.3 billion in 2009. A chart displays JBS' EBITDA growth over time, with EBITDA margins ranging from 4.3% to 13.6% between 1999-2009. The document provides an overview of JBS as the leading animal protein producer worldwide with over 125,000 employees across operations in South America, North America, Europe, and Oceania.
Public meeting presentation with analysts and investorsGafisa RI !
Gafisa is a leading Brazilian residential real estate developer founded in 1954. The presentation provides an overview of Gafisa's history, strategy, growth, product portfolio, land bank, management team, and construction processes. Gafisa's strategy is to become Brazil's largest developer through revenue growth, focus on high-return opportunities, geographic diversification, and financial discipline. The company has a large land bank that will fuel continued growth, and an experienced management team to lead its expansion into new markets across Brazil.
Brett Begemann, Executive Vice President of Monsanto, presented at an investor day on November 8, 2007. He outlined Monsanto's strategic plan to double gross profit from soybeans over the next 5 years through the launch of its Roundup Ready 2 Yield soybean technology. This new technology was shown to provide a 7-11% yield advantage over previous Roundup Ready soybeans. Monsanto planned to launch Roundup Ready 2 Yield on 5-6 million U.S. acres by 2010-2012 and expected it to more than compensate for any competitive offerings in the marketplace.
1) Monsanto is acquiring Emergent Genetics, the third-largest player in key cotton markets in the US and India, for $300 million plus working capital adjustments.
2) The acquisition will accelerate Monsanto's growth in high-value cotton seeds and traits by providing access to Emergent's germplasm, seed market share, and established brands.
3) Significant synergies are expected from the acquisition, including $5-6 million in annual SG&A cost reductions, as well as increased seed market share and trait penetration over the next four years.
Brett Begeman discussed Monsanto's strategy to more than double gross profit from corn by 2012 through organic growth of their existing business and pipeline. Key points include:
- Growing U.S. and international corn market share through new hybrids and traits like SmartStax corn which could reset the industry standard after 2010.
- Nearly tripling U.S. penetration of triple-stack traits from 17.7 million acres in 2007 to 45-55 million acres by 2010 through new products and programs.
- Maintaining a strong yield advantage of DEKALB hybrids in the U.S., including 8.4 bushels/acre over competitors in 2007, to drive continued share gains.
-
Hugh Grant, Chairman and CEO of Monsanto Company, presented at the Sanford C. Bernstein Strategic Decisions Conference on June 2, 2006. In his presentation, he discussed how increased grain production will be required to meet changing global food demands, and how Monsanto's seeds and traits strategy focuses on delivering yield gains through breeding and biotechnology across their core crop franchises of corn, cotton, soybeans and vegetables. He also outlined opportunities for continued penetration of existing biotech traits in key markets through 2010.
1) Monsanto's two-step strategy through 2010 aims to first grow its current seed and trait portfolio globally and then lead through innovation and in increasingly competitive markets.
2) Key opportunities for growth include expanding corn market share in Europe, India, and Argentina through global breeding programs and channel strategies tailored for each market.
3) Continued adoption of second-generation stacked traits in major crops and markets like India, Australia, and Brazil will drive additional value and market expansion through the end of the decade.
The document provides an overview of JBS S.A., a leading global protein producer, for the first quarter of 2010. Key highlights include:
- Net revenue increased 35.4% year-over-year to R$12.55 billion due to acquisitions.
- EBITDA increased 307.5% to R$862 million with margins improving from 2.3% to 6.9%.
- Net profit was R$99.4 million compared to a prior year loss of R$322.7 million.
- The US beef business posted a record EBITDA of US$170.5 million and 6% margins for the quarter.
- Mercosul
Terry Crews, Chief Financial Officer of Monsanto, presented at the 35th Annual Investment Conference hosted by Banc of America Securities on September 21, 2005. Monsanto's seeds and traits strategy has driven strong earnings performance, with ongoing EPS growth of 12% in 2003-2004 and an estimated growth rate of 26-29% for 2005. Financial discipline has established seeds and traits as the foundation of Monsanto's strategy, with gross profit from seeds and traits exceeding that of Roundup herbicide in 2003. Monsanto expects to continue accelerating the performance of its seeds and traits business in 2006-2007.
The document provides financial results for Monsanto's first quarter of 2006 compared to the first quarter of 2005. Some key points:
- Net sales increased 31% to $1.405 billion compared to $1.072 billion. Gross profit increased 29% to $634 million from $491 million.
- Net income was $59 million compared to a net loss of $40 million in the prior year. Diluted earnings per share was $0.22 compared to a loss of $0.15 in 2005.
- Guidance for full fiscal year 2006 reflects continued momentum in seeds and traits business with EPS targeted between $2.35-$2.50 and free cash flow between $825-$900 million
Hugh Grant, Chairman and CEO of Monsanto, presented at the Basic Materials Conference on February 21, 2006. He outlined that Monsanto is on track or exceeding expectations for fiscal years 2006 and 2007, with earnings per share growth of up to 20% and free cash flow of $825-900 million projected. Key commercial commitments, including increased US corn and cotton market shares, were also presented.
This document provides a financial summary and strategic review for Monsanto for the fourth quarter and full year of 2006. Some key points:
- Net sales for Q4 2006 were $1.39 billion, up 9% from Q4 2005. Full year 2006 net sales were $7.34 billion, up 17% from 2005.
- Reported EPS for Q4 2006 was $-0.27 per share, down 17% from Q4 2005. Full year 2006 reported EPS was $1.25 per share, up 166% from 2005.
- Monsanto has demonstrated leadership in corn and cotton seeds and traits, and sees continued opportunities for market penetration globally.
This document provides an overview of Monsanto's pipeline and commercial opportunities. It summarizes Monsanto's seeds and traits strategy, noting that farmers buy yield which opens opportunities for Monsanto to provide genetic gain through seeds and preserve that gain through technology/traits. The pipeline update highlights progress in corn and cotton breeding programs as well as the addition of Seminis and opportunities it provides. Discovery efforts are fueling pipeline expansion and commercial prospects.
The document provides an overview of Monsanto's financial results for the first quarter of 2009 and outlook. Key points include:
- Net sales increased 29% to $2.6 billion compared to first quarter 2008.
- Net income increased 117% to $556 million.
- Gross profit from Roundup and other glyphosate herbicides increased 65% due to price increases globally and strength in Brazil.
- Corn and soybean seed and traits also saw gross profit increases of 41% and 31% respectively.
- Guidance for full year 2009 forecasts ongoing earnings per share growth of 20-24% and continued growth across major business segments.
- Monsanto's biotech pipeline is progressing with two projects advancing from Phase 3 to Phase 4 and one project added in sugarcane, accelerating expansion.
- Key yield and stress products are advancing, including drought tolerant corn moving into Phase 4 and higher yielding soybeans into Phase 3.
- Final yield trials show DEKALB corn outyielding competitors with an average 3-year advantage of 11.5 bushels per acre, reinforcing DEKALB's yield leadership.
- New 2009 Deltapine cotton varieties provide greater value to growers, outperforming competitors and existing varieties by 5-12% across regions.
The document provides Monsanto's financial results for the second quarter of 2007. Key points include:
- Net sales increased 19% compared to the second quarter of 2006.
- Net income increased 23% compared to the second quarter of 2006.
- Diluted EPS on an as-reported basis increased 23% compared to the second quarter of 2006.
- Free cash flow was $290 million for the first half of 2007, compared to negative $135 million for the first half of 2006.
The document provides Monsanto's financial results for the second quarter of 2007. Key points include:
- Net sales increased 19% compared to the second quarter of 2006.
- Net income increased 23% compared to the second quarter of 2006.
- Diluted EPS on an as-reported basis increased 23% compared to the second quarter of 2006.
- Free cash flow was $290 million for the first half of 2007, compared to negative $135 million for the first half of 2006.
Monsanto's biotech pipeline is progressing with several projects advancing phases or being added. Key projects include drought tolerant corn moving into Phase 4 and higher yielding soybeans in Phase 3. Roundup Ready 2 Yield soybeans were launched and YieldGard VT Pro is in demonstration. Final yield trials show DEKALB corn outperforming competitors. New 2009 Deltapine cotton varieties provide greater value than existing varieties and competition. Roundup Ready 2 Yield soybeans are anticipated by farmers due to expected step change in yields.
Monsanto's biotech pipeline is progressing with several projects advancing phases or being added. Key projects include drought tolerant corn moving into Phase 4 and higher yielding soybeans in Phase 3. Roundup Ready 2 Yield soybeans were launched and YieldGard VT Pro is in demonstration. Final yield trials show DEKALB corn outperforming competitors. New 2009 Deltapine cotton varieties provide greater value than existing varieties and competition. Roundup Ready 2 Yield soybeans are anticipated by farmers due to expected step change in yields.
The document provides an overview of Monsanto's R&D pipeline and progress. Some key points:
1) Monsanto's biotech pipeline is accelerating, with 6 projects advancing phases and 2 new projects added in the past year. Progress is being made on critical drought-tolerant corn and higher-yielding soybeans.
2) The company's investment in breeding continues to yield results, with improvements made to germplasm bases across crops.
3) Guidance for fiscal year 2009 supports a 20%+ growth rate over 2008, with ongoing earnings per share expected to grow 20-24% and free cash flow to exceed $1.8 billion.
1) Monsanto has established strategic platforms in high-value crops like corn, soybeans, cotton, and vegetables through its seed and trait crop platforms.
2) Acquisitions of Seminis and Emergent are expected to add to Monsanto's earnings per share and free cash flow forecasts in the coming years.
3) With the additions of Seminis and Emergent, Monsanto has raised the bar for leadership in the global seeds market in terms of total seed and trait revenue.
Conference call presentation 4 q10 and 2010 resultsBraskem_RI
- Braskem's EBITDA was R$1.1 billion in 4Q10, a 27% increase over 2009, with a 14.9% EBITDA margin. 2010 EBITDA reached R$4.1 billion, a 27% growth over 2009.
- Braskem's domestic resin sales rose 11% in 2010. Net income was R$1.9 billion for 2010.
- Braskem reduced its net debt to EBITDA ratio from 3.59x to 2.43x through debt prepayments and bond issues, lengthening its average debt term to 12.5 years.
Terry Crews, Chief Financial Officer of Monsanto, presented at the 2008 Bank of America Basics/Industrials Conference on May 8, 2008. In his presentation, he outlined Monsanto's goal to more than double its 2007 gross profit of $4.2 billion to nearly $9 billion by 2012 through organic growth across its business segments. He described Monsanto's strategic playbook and growth drivers in U.S. and international corn, soybeans, cotton, and vegetables, as well as its research and development pipeline, to achieve this goal over the next five years.
1) Terry Crews is the Chief Financial Officer of Monsanto Company and spoke at the Bank of America 36th Annual Investment Conference on September 18, 2006.
2) Monsanto's strategy focuses on helping farmers be more productive through improving ways to produce food, fiber, and feed using innovation and technology.
3) Monsanto sees opportunities to double corn trait penetration in the US by the end of the decade through growth in stacked traits, international markets, and its pipeline.
This document provides an overview of Monsanto's second quarter 2008 financial results and outlook. Some key points:
- Net sales for Q2 2008 were $3.8 billion, up 45% from the same period in 2007. Net income was $1.1 billion, up 108% from 2007.
- For full year 2008, Monsanto expects earnings per share growth of 58-63% and free cash flow of around $1.3 billion.
- By 2012, Monsanto aims to double gross profit from seeds and traits compared to 2007, through new product launches and market share gains.
- Monsanto expects to gain corn share in key international markets like Argentina and maintain leadership in Brazil.
This document provides an overview of Monsanto's second quarter 2008 financial results and outlook. Some key points:
- Net sales for Q2 2008 were $3.8 billion, up 45% from the same period in 2007. Net income was $1.1 billion, up 108% from 2007.
- For full year 2008, Monsanto expects earnings per share growth of 58-63% and free cash flow of around $1.3 billion.
- By 2012, Monsanto aims to double gross profit from seeds and traits compared to 2007, through new product launches and market share gains.
- Monsanto expects to continue gaining corn share in the U.S. and internationally through 2008 and beyond.
This document provides an overview of Monsanto's second quarter 2008 financial results and outlook. Some key points:
- Net sales for Q2 2008 were $3.8 billion, up 45% from the same period in 2007. Net income was $1.1 billion, up 108% from 2007.
- For full year 2008, Monsanto expects earnings per share growth of 58-63% and free cash flow of around $1.3 billion.
- By 2012, Monsanto aims to double gross profit from seeds and traits compared to 2007, through new product launches and market share gains.
- Monsanto expects to continue gaining corn share in the U.S. and internationally through 2008 and beyond.
1) Monsanto has an opportunity to increase its gross margin in corn through 2010 by gaining market share in the U.S., increasing penetration of stacked traits, and expanding its international corn business.
2) In the U.S., Monsanto can boost profits by capturing more acreage through its branded seed brands, capitalizing on increased ethanol production driving corn demand, and accelerating the adoption of stacked traits.
3) Internationally, Monsanto's hybrid corn seeds provide the highest value in key European and African markets like France, Italy, and South Africa where the company has increased its market share in recent years.
MeadWestvaco reported financial results for the fourth quarter and full year of 2007. For the full year, sales increased 6% to $6.9 billion and business segment profit rose 7% to $584 million. The company sold non-strategic forestlands, completed a $400 million share buyback, and strengthened its global packaging platform. Input costs increased significantly but the company implemented price increases across all major grades to offset these costs. For the fourth quarter, sales rose 4% while business segment profit declined 3% due to higher input costs and weaker demand in some segments.
This document provides an overview and highlights of Virgin Media's performance in the fourth quarter of 2006. It discusses the company's achievements over the last 12 months including the Telewest merger and Virgin Mobile acquisition. The fourth quarter saw revenue growth across all segments, strong net additions, and continued ARPU and customer care improvements. Priorities for 2007 include delivering on the new Virgin brand, targeting competitor customers, driving efficiency and improving customer care.
This document provides an overview of Virgin Media's performance in the fourth quarter of 2006. It discusses the company's achievements over the past year including the Telewest merger and Virgin Mobile acquisition. The highlights of Q4 2006 include revenue growth across all segments, strong broadband and TV subscriber additions, and increased triple play penetration. Priorities for 2007 include delivering on the new Virgin brand, targeting competitor customers, driving efficiency and improving customer care.
Virgin Media reported its financial results for the first quarter of 2007. Key highlights include:
1) Strong growth in broadband, TV and mobile contract customers due to compelling offers and marketing campaigns promoting bundled services. However, fixed line customers continued to decline due to increased competition.
2) ARPU was slightly down due to lower fixed line usage, but triple play penetration and Old NTL ARPU increased, pointing to continued ARPU growth.
3) Customer churn improved to 1.6% due to more rigorous credit policies and efficient sales channels, while Sky basics had a minimal impact in Q1.
4) Mobile contract growth remained strong through cable cross-sell, while pre-pay declined season
This document summarizes Virgin Media's performance in the first quarter of 2007. It discusses Virgin Media's progress on key priorities such as brand strength, targeting competitors, cable integration, and cross-sell opportunities. Financial metrics like revenue, customer additions and disconnects, and ARPU are also reviewed. Challenges from increased competition and the impact of Sky's new "Basics" package are addressed.
This document provides a summary of Virgin Media's financial performance in the second quarter of 2007. It discusses declines in revenue due to customer churn related to the loss of Sky basics channels, but notes improving trends in areas like TV and broadband. Key points highlighted include strong growth in video on demand usage, successful bundling of products, expansion of high speed broadband services, and continued strength in the mobile business. The summary also previews upcoming content initiatives and their potential to further drive customer growth and engagement.
This document summarizes Virgin Media's financial performance in the second quarter of 2007. Key points include: losses of Sky basic channels impacted customer churn but TV performance was better than expected; strong mobile contract sales and bundling of products continued; and while ARPU was affected by retention activities, cash flow outlook remains strong. The document provides details on customer additions and disconnects, growth of triple play bundling, and increases in video on demand usage.
This document provides a summary of Virgin Media's financial results for the third quarter of 2007. It notes significant improvements in customer and revenue growth metrics compared to previous quarters. Revenue was up slightly from the second quarter due to growth in the consumer, business services, content, and mobile segments. Operating cash flow also increased due to lower costs and certain one-time benefits. However, proactive investment in customer growth was also noted as impacting operating cash flow. Net debt remained substantial as of the end of the third quarter.
This document provides a summary of Virgin Media's financial results for the third quarter of 2007. It discusses improvements in customer and revenue growth metrics compared to previous quarters. Specifically, it notes record quarterly gross additions and reduced churn. It also summarizes growth in the company's broadband, TV, telephony, mobile, and business services segments. The document concludes with discussions of operating cash flow, revenue, and net debt levels.
The document summarizes an UBS media conference by Acting CEO Neil Berkett of Virgin Media on December 5, 2007. Berkett discussed Virgin Media's transformation through integration, re-engineering growth initiatives. He highlighted opportunities in premium TV, basic pay-TV, free DTV and contract mobile. Berkett also outlined Virgin Media's network advantages in speed and reach, and strategies to increase customer value through volume, ARPU and tenure. Mobile was discussed as an important driver of consumer value through cross-selling. Valuable tax assets were also noted.
The document summarizes an UBS media conference by Acting CEO Neil Berkett of Virgin Media on December 5, 2007. Berkett discussed Virgin Media's transformation through integration, re-engineering growth initiatives, and building the platform for growth. He highlighted opportunities in premium TV, basic pay-TV, free DTV, broadband, and mobile services. Berkett also covered Virgin Media's network advantages, content assets, tax assets, and the significant potential asset value of the company's network, consumer base, mobile business, and content.
This document provides a summary of Virgin Media's financial and operational results for the first quarter of 2008. Key highlights include continued strong growth in broadband and TV customers, record-low cable churn of 1.2%, and stable cable ARPU despite non-recurring benefits in the previous quarter. OCF increased slightly compared to last quarter. Capex remained high at 13.7% of revenue to support network upgrades including faster broadband speeds. Revenue declined slightly due to seasonal factors in certain business units.
This document summarizes Virgin Media's financial and operational results for the first quarter of 2008. Key highlights include continued strong growth in broadband and TV customers, record-low cable churn of 1.2%, and stable cable ARPU despite non-recurring benefits in the previous quarter. OCF was £324 million for Q1 2008, up slightly from the previous quarter. Cash capex was £125 million for network upgrades and expansion.
This document provides a summary of Virgin Media's performance in the second quarter of 2008. It discusses financial results including operating cash flow growth and SG&A reductions. It also reviews operational metrics such as subscriber growth, churn rates, broadband and TV services. Virgin Media saw increased revenue and profitability in Q2 2008 compared to the same period last year.
This document provides a summary of Virgin Media's performance in the second quarter of 2008. It discusses financial results including operating cash flow growth and SG&A reductions. It also reviews operational metrics such as subscriber growth, churn rates, broadband and TV services. Virgin Media saw increased revenue and profitability in Q2 2008 compared to the prior year through lower churn, higher triple-play penetration and a focus on quality customer growth. The company believes its cable network gives it advantages over DSL providers that will increase further after investments are completed.
This document provides a summary of Virgin Media's financial results for the third quarter of 2008. It reports that Virgin Media continued to see growth in key metrics such as on-net customer additions, broadband and TV subscriber growth, and improving triple play penetration. ARPU increased through price increases, cross-selling, and upselling efforts. Mobile contract customer growth was strong through cross-selling to cable customers. Content revenues increased for VMtv but declined for Sit-Up. Overall revenue was flat, while operating cash flow and margins declined slightly compared to last year. Capital expenditures remained high to continue network upgrades and expand service offerings.
This document provides a summary of Virgin Media's financial results for the third quarter of 2008. It reports that Virgin Media continued to see growth in key metrics such as on-net customer additions, broadband and TV subscriber growth, and improving triple play penetration. ARPU increased through price increases, cross-selling, and upselling efforts. Mobile contract customer growth was strong through cross-selling to cable customers. Content revenue increased for VMtv but declined for Sit-Up. Overall revenue was flat, while operating cash flow and margins declined slightly compared to last year. Capital expenditures remained high to continue network investments.
The document discusses Virgin Media's strategy to leverage its network advantages for renewed growth. Key points include plans to: 1) lead in next generation broadband through upgrades to 10Mbps and beyond; 2) lead the on-demand TV revolution through growing video on demand usage and iPlayer views; and 3) leverage mobile as a third screen through bundling mobile services. Virgin Media also aims to build a more efficient customer focused organization through an operational transformation program targeting over £120m in annual cost savings by 2012.
The document discusses Virgin Media's strategy to leverage its network advantages for renewed growth. It aims to lead in next generation broadband, lead the on-demand TV revolution, and leverage mobile as a third screen. Virgin Media has the best broadband economics due to its high market share and lower costs. It is focusing on upgrading customers to higher broadband tiers, growing on-demand TV and video usage, and integrating mobile offerings. The company expects operational transformation to deliver over £120 million in annual cost savings by 2012.
The document provides an agenda and overview for an investor and analyst day being held by Virgin Media in London on November 13, 2008. It includes:
1) A disclaimer stating that forward-looking statements in the document involve risks and uncertainties that could cause actual results to differ materially.
2) An agenda for the day's presentations on Virgin Media's strategy, growth initiatives, network strengths, financial structure and regulatory progress.
3) Introductions of the senior management team who will be presenting.
The document provides an agenda and overview for an investor and analyst day being held by Virgin Media in London on November 13, 2008. It includes:
1) A disclaimer stating that forward-looking statements in the document involve risks and uncertainties that could cause actual results to differ materially.
2) An agenda for the day's presentations on Virgin Media's strategy, growth initiatives, network strengths, financial structure and regulatory progress.
3) Biographies and photos of Virgin Media's management team, including the CEO and heads of key business units.
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
What Lessons Can New Investors Learn from Newman Leech’s Success?Newman Leech
Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Budgeting as a Control Tool in Government Accounting in Nigeria
Being a Paper Presented at the Nigerian Maritime Administration and Safety Agency (NIMASA) Budget Office Staff at Sojourner Hotel, GRA, Ikeja Lagos on Saturday 8th June, 2024.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
How to Invest in Cryptocurrency for Beginners: A Complete GuideDaniel
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
3. Non-GAAP Financial Information
This presentation may use the non-GAAP financial measures of “free cash flow,” earnings per share (EPS) on an
ongoing basis and Return on Capital (ROC). We define free cash flow as the total of cash flows from operating
activities and investing activities. A non-GAAP EPS financial measure, which we refer to as ongoing EPS, excludes
certain after-tax items that we do not consider part of ongoing operations, which are identified in the reconciliation.
ROC means net income (without the effect of certain items) exclusive of after-tax interest expenses, divided by the
average of the beginning year and ending year net capital employed, as defined in the reconciliation. Our
presentation of non-GAAP financial measures is intended to supplement investors’ understanding of our operating
performance, not replace net income (loss), cash flows, financial position, or comprehensive income (loss), as
determined in accordance with GAAP. Furthermore, these non-GAAP financial measures may not be comparable to
similar measures used by other companies. The non-GAAP financial measures used in this presentation are
reconciled to the most directly comparable financial measures calculated and presented in accordance with GAAP.
With respect to the time period prior to Sept. 1, 2000, references to Monsanto in this presentation also refer to the
agricultural business of Pharmacia.
FISCAL YEAR:
References to year, or to fiscal year, are on a fiscal year basis and refer to the 12-month period ending August 31.
3
4. First-Quarter Financial Summary
First Quarter First Quarter
Change
2009 2008
29%
NET SALES $2,649M $2,049M
49%
GROSS PROFIT $1,550M $1,039M
Inc. 8 pts
GROSS MARGIN 59% 51%
117%
NET INCOME $556M $256M
DILUTED EPS ON
117%
AS-REPORTED $1.00 $0.46
BASIS
(83%)
FREE CASH FLOW $124M $740M
4
5. Seed Footprint in Latin America Enables Larger
Launches and Faster Ramp Up Than Competition
LATIN AMERICA NORTH
LATIN AMERICAN CORN 5-YEAR
CURRENT
OUTLOOK
OUTLOOK:
#1 position in all key countries
SEED SHARE:
SEED & TRAIT TRENDS THROUGH 2012
7-8M
HYBRID ACRES:
MEXICO Approved YieldGard Corn Borer with
Roundup Ready Corn 2 in Colombia and
BIOTECH STATUS: Honduras
HONDURAS
December 2008 approval gained for
GUATEMALA
experimental trials in El Salvador
EL SALVADOR
• Integration of Cristiani; Expand seed footprint for pending
FY2009 PRIORITIES:
trait introductions
COLOMBIA
BRAZIL
5-YEAR
CURRENT
OUTLOOK
40% (#1 position)
BRAZIL
PERU SEED SHARE:
25-27M
HYBRID ACRES:
1st commercial trait in FY2009
BIOTECH STATUS: Received approval for Roundup Ready
Corn 2 and Roundup Ready cotton
• Targeted share gain: 1-2 points
FY2009 PRIORITIES:
• 1.5-2M acre launch of YieldGard Corn Borer
ARGENTINA
ARGENTINA
CURRENT 5-YEAR OUTLOOK
46% (#1 position)
SEED SHARE:
8-10M
HYBRID ACRES:
BIOTECH STATUS: Double-Stack commercial planting
• Targeted share gain: 1-2 points
FY2009 PRIORITIES: • 2M-plus acre launch of YieldGard Corn Borer with
Roundup Ready Corn 2
5
6. First-Quarter Gross Profit Results for Roundup Driven
by Price Globally, Strength in Brazil
ROUNDUP AND OTHER GLYPHOSATE-BASED HERBICIDES: Roundup and Other Glyphosate-Based
BRANDED AND NON-BRANDED TRENDS – 2004-2008 Herbicides
Global Volume (in equivalent gallons)
Branded Results Q1 2009 Q1 2008 Change
300
Non-Branded $804M $487M 65%
Gross Profit
250
Inc.
59% 48%
Gross Margin
11 pts
200
2009 Forecast
150
100 Gross Profit Target: $2.4-$2.5B
50
Branded price band Above
(per equivalent gallon): $16-$18
0
2004 2005 2006 2007 2008
2012 Forecast
GLOBAL VOLUME
209M 215M 235M 252M 257M
(EQUIVALENT GALLONS):
Gross profit target: $1.9B
BRANDED PRICE BAND
$11-$13 $11-$13 $11-$13 >$11-$13 ~$20
(PER EQUIVALENT GALLON):
TOTAL ROUNDUP AND
Branded price band
OTHER GLYPHOSATE - $16-$18
$703M $637M $648M $854M $2.0B (per equivalent gallon):
BASED HERBICIDES
GROSS PROFIT
6
7. U.S. Market Share Expected to Grow; Triple Stack Mix
Improves
CORN SEED AND TRAITS SEGMENT
CORN SEED & TRAITS
Q1 UPDATES
GROSS PROFIT PROGRESSION ► U.S. corn orders on track to deliver 1 – 2 share points in
our DEKALB brand and 1 point gain in American Seeds
► Branded triple mix expected to increase to 70%
$ in millions
► Gross profit improvement in Brazil and Argentina
$4,500- $4,600
driven by strong demand for hybrids and richer trait mix
$2,800
$2,174
$1,721
2012 MILESTONE TARGETS
Launch YieldGard Corn Borer/ Roundup Ready Corn 2
in Argentina in FY2009
2007 2008 2009F 2012F
Launch YieldGard Corn Borer in Brazil in FY2009
Advance lead drought-tolerant corn project to Phase 4
► Grow U.S. DEKALB corn share to 30-34 share points;
grow American Seeds to ~15 share points
Results Q1 2009 Q1 2008 Change
► Grow international branded corn share in key countries
Gross Profit $403M $285M 41%
by 1-2 share points annually
Gross Margin 64% 61% Inc. 3 pts ► Launch SmartStax in the U.S. in 2010
7
8. Early Orders for Soybeans in U.S. Support Share Gain
Objectives
SOY SEED AND TRAITS SEGMENT
SOYBEAN SEED & TRAITS
Q1 UPDATES
GROSS PROFIT PROGRESSION ► U.S. orders have been early; on track to gain 1 share
point in Asgrow brand
► Controlled commercial release of Roundup Ready 2
$ in millions
~$1,200
Yield soybeans on 1.5M acres
$725 ~$700 ► Early Q1 indication that Brazil’s Roundup Ready
$588
soybean appears to be on track to approach 60%
penetration mark
2007 2008 2009F 2012F
2012 MILESTONE TARGETS
Controlled commercial release of Roundup Ready 2
Yield on 1-2M acres in the U.S. in 2009
► Large-scale launch of Roundup Ready 2 Yield on 5-6M
Results Q1 2009 Q1 2008 Change
acres in 2010; target market of 45-55M1 acres
Gross Profit $145M $111M 31%
► Grow Asgrow brand to 25 share points in the U.S. by
Gross Margin 68% 68% FLAT 2012
► Increase Brazil Roundup Ready soybean penetration
to 80 percent by 2012 in anticipation of launch of
insect-protected Roundup Ready 2 Yield soybeans
8
1. Target market defined as acres where technology is applicable, not necessarily a projection of acres penetrated by 2012.
9. FY2009 Guidance Supports 20 Percent Plus
Growth Rate
FY2008 2009F Q1 2009 Q1 2008 CHANGE
EARNINGS
$4.40-$4.50
$3.64
ONGOING EARNINGS PER ~20-24%
>80% $0.98 $0.45 118%
SHARE GROWTH GROWTH
FROM 2007 FROM 2008
$678M $495M 37%
Seeds & Genomics Gross Profit $3.9B $4.5-$4.6B
Corn Seed & Traits Gross Profit $2.2B ~$2.8B $403M $285M 41%
Soybean Seed & Traits Gross Profit $725M ~$700M $145M $111M 31%
Cotton Seed & Traits Gross Profit $313M ~$300M $26M $24M 8%
Vegetable Seeds Gross Profit $394M ~$500M $80M $64M 25%
All Other Seed & Traits Gross Profit $251M ~$200M $24M $11M 118%
Roundup And All Other Glyphosate- $804M $487M 65%
$2.0B $2.4-2.5B
based Herbicides Gross Profit
$68M $57M 19%
All Other Ag Productivity Gross Profit $344M ~$400M
CASH MANAGEMENT AND SPENDING
FREE CASH FLOW $124M $740M (83%)
$772M >$1.8B
$114M $996M (89%)
Operating Cash $2.8B >$3B
$264M $154M 71%
Capital Expenditures $918M ~$1B
21% 22% Dec. 1 pt
SG&A as a Percent of Sales 20% 19% Range
R&D as a Percent of Sales (Excluding 9.5%-10% <10% <10% FLAT
9%
acquired IPR&D) Range
9
11. Monsanto’s Biotech Pipeline Is Accelerating, With Progress
in Key Projects and on Highest-Value Platforms
MILESTONES:
Biotech pipeline progress is accelerating
6 projects either advanced from one phase to
another or were added to the pipeline
First time ever transitioned 2 projects from Phase 3
to Phase 4 with each project remaining in Phase 3
Q1 Q4 for only 1 year
First addition of a project in sugarcane,
Q2 Q3 accelerating expansion into new areas
Accelerated progress is on the most
meaningful platforms and products
Advanced phases on 2 critical yield & stress
products
Drought-tolerant corn lead moves into Phase 4
ANNUAL R&D CYCLE: SEEDS & TRAITS with first regulatory submission
WHAT CHANGED 2008-2009? Higher-yielding soybeans move into Phase 3
with strong field trial performance
• 4 projects advanced phases
SmartStax, the new platform for corn, moves into
• 2 products added pre-launch Phase 4 with EPA submission
• 1 product launched and 1 in demonstration: Biotech pipeline robust with new
collaborations and broad scale testing
• Roundup Ready 2 Yield soybeans
• YieldGard VT Pro – Commercial Demonstration Entered into more than 1,400 technology-related
►
• 2 products removed: agreements; 40% more than FY2007
• High-oil corn Field tested over 2,500 genes in 13,000 field events
►
in 180 locations in phase 1-3 projects
• Mavera high-value corn with lysine
~89,000 drought plots and ~48,000 SmartStax plots
►
11
12. Monsanto’s Investment in Breeding Continues to Yield
Results; Improving Germplasm Base Across Crops
15
BUSHELS/ACRE DEKALB ANNUAL YIELD ADVANTAGE
DEKALB 3-YEAR ROLLING AVERAGE YIELD ADVANTAGE
10
9.6 8.8
8.4 8.4 8.3
8.2 7.8
7.1
5
0
2005 2006 2007 2008
ASGROW FINAL ANNUAL YIELD ADVANTAGE
2
BUSHELS/ACRE
ASGROW FINAL 3-YEAR ROLLING AVERAGE YIELD ADVANTAGE
1.5
1.5
1 1.4
1.2
1.1 1.0
0.5 0.7
0
2006 2007 2008
2009 Deltapine Bollgard II Roundup 2008 Deltapine Bollgard II Roundup
CROP VALUE ($/ACRE)
Ready Flex Ready Flex
700 2008 Competitive Bollgard II Roundup 2008 Deltapine 555 Bollgard Roundup
Ready Flex Ready
600
500
400
Beltwide N. Tier S. Tier TX, OK
N = 78
N = 189 N = 25
N = 61
12
13. Phase Advancements For Key Projects Reflect Progress and
Strength Throughout Monsanto’s Industry-Leading Pipeline
BIOTECH TRAIT PIPELINE: JANUARY 2009 UPDATE
PHASE PHASE PHASE PHASE
D 1 3
2 4
AGRONOMIC TRAITS
PHASE PHASE PHASE PHASE
D 1 3
2 4
SMARTSTAX CORN
YIELD AND STRESS PIPELINE
DICAMBA-TOLERANT SOYBEANS
DROUGHT-TOLERANT CORN
FAMILY INSECT-PROTECTED + ROUNDUP
READY 2 YIELD SOYBEANS
DROUGHT-TOLERANT CORN
2ND GEN INSECT-PROTECTED +ROUNDUP
READY 2 YIELD SOYBEANS
2ND-GEN DROUGHT-TOLERANT CORN
INSECT-PROTECTED + ROUNDUP
READY SUGARCANE
NITROGEN-UTILIZATION CORN
BOLLGARD III
FAMILY
NITROGEN-UTILIZATION CORN
SOYBEAN NEMATODE-RESISTANCE
BROAD-ACRE HIGHER-YIELDING SOYBEAN DISEASE
CORN FAMILY
HIGHER-YIELDING CORN DICAMBA AND GLUFOSINATE-
TOLERANT COTTON
BROAD-ACRE HIGHER-YIELDING COTTON LYGUS CONTROL
SOYBEAN FAMILY
YIELDGARD ROOTWORM III
HIGHER-YIELDING SOYBEANS
2ND-GEN HIGHER-YIELDING
SOYBEANS
VALUE-ADDED TRAITS
DROUGHT-TOLERANT COTTON
FAMILY
EXTRAX™ CORN PROCESSING
SYSTEM2
DROUGHT-TOLERANT COTTON
HIGH-OIL SOYBEANS
BROAD-ACRE HIGHER-YIELDING
CANOLA FAMILY
2ND-GEN HIGH-OIL SOYBEANS
HIGHER-YIELDING + ROUNDUP
READY 2 YIELD CANOLA1
OMEGA-3 ENRICHED SOYBEANS
The colored bar associated with each project indicates which phase that project is in. It is
VISTIVE III SOYBEANS
not intended to represent the relative status of the project within a particular stage.
Jan. 3, 2009 Advancements/Additions HIGH-STEARATE SOYBEANS
(VIA BIOTECH)
High Impact Technologies (HIT) project
1. For higher-yielding + Roundup Ready 2 Yield canola, only the value of the higher-yielding
trait is incorporated into the Yield and Stress collaboration with BASF
2. Value of licensing the EXTRAX™ technology is shared with Cargill as a part of Renessen
13
joint venture
14. Roundup Ready 2 Yield Soybeans Introduction Highly
Anticipated by Farmers Because of Step Change In Yield
ROUNDUP READY 2 YIELD
LAUNCH PLANS
► U.S. controlled commercial release on
1-2M acres in maturity groups 2 and 3
► >50% of the U.S. soybean acres
planted are in groups 2 and 3
► Multiple varieties available for 2009
2009
release
VALUE PROPOSITION
► EU import approval recently obtained,
YIELD
IMPROVEMENT ON
~3.8 bu/ac
AVERAGE YIELDS
demonstrating continued global
IN GROUPS 2 & 3:
acceptance
INCREMENTAL
YIELD VALUE TO
~$38/ac ► Launch on 5-6M acres in the U.S. with
FARMER (VERSUS
ROUNDUP READY):
2010 up to 30 new varieties with expanded
PRICING
maturity groups
SEAMLESS PRICE
FOR FIRST-
$49-$52 ► Expand majority of Asgrow varieties to
GENERATION
ROUNDUP READY
2011
SEED (PER ACRE)1:
Roundup Ready 2 Yield
SEAMLESS PRICE
$69-$72
FOR ROUNDUP
READY 2 YIELD
SEED (PER ACRE)1:
14
1. Reflects seamless price to the farmer, including trait value, germplasm value and value provided by the seed treatment.
15. Roundup Ready 2 Yield Will Be the First Biotech Yield Trait
Offered in Soybeans
FINAL ROUNDUP READY 2 YIELD SOYBEANS VERSUS COMMERCIAL CHECKS
NEW:
COMPARISONS TO COMMERCIAL ROUNDUP READY SOYBEANS – 2 YEAR SUMMARY
60
COMPETITORS’ PRODUCT WITH
ROUNDUP READY 2 YIELD ROUNDUP READY TRAIT
Two year summary
Bushels per Acre 55
(2007-2008) of
head-to-head
54.5 55.2
55.5
comparisons
between all
50
Roundup Ready 2
49.9 51.7 51.4
Yield products
available for sale in
2009 vs. national
45
competitor
Roundup Ready
products. Final
40
data as of
December 9, 2008.
35
2 3 Overall
RELATIVE MATURITIES:
COMPARISONS: >1,000 >2,900 >3,900
APPROXIMATE BU/AC
ADVANTAGE FOR ROUNDUP 4.6 3.8 3.8
READY 2 YIELD:
PERCENT YIELD ADVANTAGE
9.1% 7.3% 7.4%
FOR ROUNDUP READY 2 YIELD1:
► Power in the Pod: Roundup Ready 2 Yield soybean varieties provide higher yields by
producing more 3-bean pods per plant2
1 Roundup Ready 2 Yield percent yield advantages ranged from 6 to 12% across year and maturity group combinations.
2 SOURCE: 19 Monsanto field trials with seed counted from over 4,728 plants from 340 plots. p value <0.001 Data as of November 24, 2008.
15
16. SmartStax Corn Advances to Phase 4 with EPA Submission,
Closing In On Estimated 2010 Launch
SMARTSTAX
R&D Pipeline
LAUNCH PLANS
SmartStax Corn
► SmartStax EPA submission made June 16, 2008
ADVANCED
STATUS:
Phase 4
► Requested reduction in refuge for both
PROJECT CONCEPT:
above-ground and below-ground corn pests
SmartStax combines the following to 5% from current 20% requirement in the
herbicide-tolerant and insect-protection
corn belt
2008
traits for the most complete control:
• YieldGard VT Rootworm/Roundup ► Necessary global regulatory submissions made
Ready 2 Technology and YieldGard
and first import approval received from Japan
VT PRO
• Herculex® I and Herculex® RW in December
• Liberty Link®
► All insect efficacy data confirmed
VALUE:
► December 2008: EPA approved amendment to
LAUNCH-COUNTRY
55-65M
ACRES1: allow for reduction in above-ground corn pest
refuge to 5% from 20% in the corn belt for
2020 VALUE2: $300-$500M
second-generation YieldGard corn borer
WHOLE –FARM YIELD IMPROVEMENT 2009 technology; YieldGard VT Pro component of
ESTIMATES:
SmartStax
IMPROVED CONSISTENCY FOR
► SmartStax yield testing in Monsanto hybrids in
1
1. Acre opportunity reflects acres where technology fits at
PRIMARY AND SECONDARY
Monsanto's current 2007 market share in respective crops
3
PESTS
summer 2009
2. 2020 value reflects gross sales opportunity in launch
2country in year 2020 REFUGE 4
REDUCED
► Planned U.S. launch of SmartStax4
2010
TOTAL: 5-10%
1. Acre opportunity reflects acres where technology fits at Monsanto's current 2007 market share in respective crops
2. 2020 value reflects gross sales opportunity in launch country in year 2020
Herculex® is a registered trademark of Dow Agrosciences LLC
16
3. As compared to YieldGard VT Triple 4. Subject to EPA approval
Liberty Link® is a registered trademark of Bayer CropScience AG
17. SmartStax Insect Efficacy Trials Highlight Increased Durability
and Insect Spectrum of New Corn Platform
2007 & 2008 SmartStax EFFICACY TRIALS
NEW:
R&D Pipeline
Node Injury Scale 0-3
1.5
SmartStax Corn
CRW Root Damage Ratings
ADVANCED
STATUS: 1.0
Phase 4
PROJECT CONCEPT:
0.5
SmartStax combines the following
herbicide-tolerant and insect-protection
0.0
traits for the most complete control:
YieldGard VT
Roundup Herculex® SmartStax
• YieldGard VT Rootworm with Rootworm/
Ready Corn 2 Rootworm
6.0 Roundup Ready
Roundup Ready Corn 2 and YieldGard
Damaged Area (cm2)
2 Technology
VT PRO
5.0
• Herculex® I and Herculex® RW Corn Earworm Damage
4.0
• Liberty Link®
3.0
VALUE:
2.0
LAUNCH-COUNTRY
1.0
55-65M
ACRES1:
0.0
2020 VALUE2: $300-$500M Roundup Herculex® SmartStax
YieldGard VT
Ready Corn 2 Corn Borer Triple PRO
WHOLE-FARM YIELD IMPROVEMENT
ESTIMATES:
The second-generation YieldGard corn borer trait, a key
SmartStax component, demonstrates incremental yield benefit of
IMPROVED CONSISTENCY FOR
1 Acre opportunity reflects acres where technology fits at
1. PRIMARY AND SECONDARY 4 percent over first-generation corn borer traits in preliminary
Monsanto's current 2007 market share in respective crops
PESTS 3
data from 2 years of comparisons
2. 2020 value reflects gross sales opportunity in launch
country in year 2020 REFUGE 4
2 REDUCED Fewer damaged kernels from earworm drives yield advantage
TOTAL: 5-10%
1. Acre opportunity reflects acres where technology fits at Monsanto's current 2007 market share in respective crops
2. 2020 value reflects gross sales opportunity in launch country in year 2020
Herculex® is a registered trademark of Dow Agrosciences LLC
17
3. As compared to YieldGard VT Triple 4. Subject to EPA approval
Liberty Link® is a registered trademark of Bayer CropScience AG
18. Lead Drought-Tolerant Corn Project Advances to Phase 4; 2008
Dry Land Field Tests Mark Fifth Season of Increased Yield
FIFTH YEAR OF CONSISTENT YIELD
NEW: IMPROVEMENT UNDER DROUGHT STRESS
R&D Pipeline Average Yield Improvement of Lead Event
Percentage yield difference vs. control
16
Drought-Tolerant Corn Family:
Yield Difference (bu/acre)
Lead Project 10.5% 11.3% 7.7%
13.4% 6.7%
14
ADVANCED:
HIT Project Phase 4 12
10
VALUE:
LAUNCH-COUNTRY 8
55M
ACRES-FAMILY1:
6
2020 VALUE-
$300-$500M
FAMILY2:
4
SOURCES OF VALUE:
2
Improved yield 0
Targeting 6-10% yield improvement
2004 2005 2006 2007 2008
in water-stress environments;
historically the dry land farms of the
5 TOTAL
9 TOTAL 11 TOTAL
8 TOTAL 15 TOTAL
Western Great Plains
LOCATIONS LOCATIONS LOCATIONS LOCATIONS
LOCATIONS
▲ 2008 Western Great Plains Testing: Lead event continued to
demonstrate a yield advantage in a drought stress environment
Evaluation of best germplasm and trait combinations underway
Regulatory submissions in progress, with initial submission to
1. Acre opportunity reflects acres where technology fits at
Monsanto's current 2008 market share in respective crops
FDA made December 19, 2008
2. 2020 value reflects gross sales opportunity in launch country
in year 2020
18
PART OF THE MONSANTO BASF YIELD AND STRESS R&D COLLABORATION
19. Higher-Yielding Soybeans Advance to Phase 3 With Continued
Demonstration of Improved Yield Over Conventional Controls
2008 HIGHER-YIELDING SOYBEAN AGRONOMIC
NEW: TESTING VERSUS CONTROLS
R&D Pipeline
Higher-Yielding Soybean Family:
Dayton, Iowa -- 2008
Lead Project
Control Transgenic
ADVANCED
STATUS:
Phase 3
VALUE:
LAUNCH-COUNTRY
45M
ACRES-FAMILY1:
2020 VALUE-
$300-$500M
FAMILY2:
SOURCES OF VALUE:
Improved yield
Targeting 6-10% yield improvement
through insertion of key genes
Lead events 1 and 2 showing average yield advantage of 7.4%
and 6.7%, respectively, over controls in meta analysis across
three seasons of testing in 56 environments
1. Acre opportunity reflects acres where technology fits at
Monsanto's current 2008 market share in respective crops
Higher-yielding trait built upon yield platform of Roundup
2. 2020 value reflects gross sales opportunity in launch country
in year 2020
Ready 2 Yield
19
PART OF THE MONSANTO BASF YIELD AND STRESS R&D COLLABORATION
20. Dicamba and Glufosinate-Tolerant Cotton Demonstrated
Excellent Tolerance in 2008, Advancing to Phase 2
DGT COTTON DEMONSTRATES EXCELLENT
NEW: TOLERANCE IN 2008 FIELD TRIALS
R&D Pipeline
Dicamba and Glufosinate-Tolerant
Winterville, Mississippi – July 2008
Cotton (DGT Cotton)
ADVANCED
STATUS: DGT Cotton
Non-transgenic
Phase 2
Control
VALUE:
LAUNCH-COUNTRY
8-10M
ACRES1:
2020 VALUE2: <$150M
SOURCES OF VALUE:
Increased Flexibility
Improved weed control options with
three modes of action for herbicide
tolerance: Roundup Ready Flex plus
dicamba and glufosinate-tolerance
DGT cotton showed tolerance to dicamba and glufosinate at
three applications at two times the recommended application
rates
DGT cotton demonstrated yield parity to conventional cotton in
first year of field trials
Planned to stack with Roundup Ready Flex for launch
1. Acre opportunity reflects acres where technology fits in first country of launch
20
2. 2020 value reflects gross sales opportunity in launch country in year 2020
21. Roundup Ready and Insect-Protected Sugar Cane Advanced to
Phase 1 as First Project in New Focus Crop
FIRST ROUNDUP READY AND INSECT-
NEW: PROTECTED SUGAR CANE FIELD TRIAL
R&D Pipeline
Roundup Ready and Insect-
Conchal, Brazil – September 2008
Protected Sugar Cane
ADVANCED:
STATUS:
Phase 1
VALUE:
LAUNCH-COUNTRY
13.5M
ACRES1:
2020 VALUE2: <$150M
SOURCES OF VALUE:
Reduced insecticide use
Potential to reduce insecticides
1.
through insertion of key genes
for in-plant insect control
Improved yield
Potential to improve yield with
improved insect control,
Multi-event field trial established in the Sao Paulo region of
specifically of the sugar cane
Brazil in September
2. borer, from insertion of key
genes and improved weed These events have shown efficacy in initial greenhouse
control with Roundup Ready studies
gene conveying herbicide
1. Acre opportunity in 2020 assuming 17M acres planted and a 20% refuge.
tolerance
2. 2020 value reflects gross sales opportunity in launch country in year 2020
21
22. First Product from Higher-Yielding Corn Family Showed
Improved Yield in 2008 Trials
HIGHER-YIELDING CORN GENERATES YIELD
NEW: ADVANTAGE VERSUS CONTROLS
Percent yield difference vs. control
R&D Pipeline
Yield Difference (bu/ac)
16.0 5.8%
6.0% 5.4% 4.6%
Higher-Yielding Corn Family:
Lead Project
12.0
Phase 2
STATUS:
VALUE:
8.0
LAUNCH-COUNTRY
55M
ACRES-FAMILY1:
2020 VALUE-
>$1B 4.0
FAMILY2:
SOURCES OF VALUE:
0.0
Improved yield
Targeting 6-10% yield improvement Event 1 Event 2 Event 3 Event 4
through insertion of key genes
18 Locations
Potential commercial events were yield tested at 18 locations
in the U.S. in 2008
1. Acre opportunity reflects acres where technology fits at
8 potential commercial events enhanced yield over controls
Monsanto's current 2008 market share in respective
crops
in the target range for the product concept
2. 2020 value reflects gross sales opportunity in launch
country in year 2020
Potential commercial events will be advanced to a more
powerful trial in U.S. in 2009
22
PART OF THE MONSANTO BASF YIELD AND STRESS R&D COLLABORATION
23. Consistent Yield Benefit from Nitrogen Utilization Lead Across
Two Years of Testing Under Limited Nitrogen Applications
NITROGEN-UTILIZATION CORN LEADS REPEAT
NEW: YIELD ADVANTAGE
R&D Pipeline
With Gene
Control
Nitrogen-Utilization Corn Family:
Lead Project
240
Phase 1
LEAD STATUS: 8%*
Yield – (bu/ac)
220
VALUE: 200
LAUNCH-COUNTRY 180
55M
ACRES-FAMILY1:
160
2020 VALUE-
$300-$500M 140
FAMILY2: 23%*
120
SOURCES OF VALUE:
100
Improved yield
80
Yield improvement in normal
1
nitrogen environments
0 60 200
Nitrogen reduction Lbs of applied Nitrogen
2 Improving yield in low nitrogen 2007 2008 2008
environments
2 locations, 4 locations, 16 locations, * p<0.1
3 reps 3 reps 1 rep
Gene provides potential for reducing input costs as
1. Acre opportunity reflects acres where technology fits at
demonstrated by two years of field performance
Monsanto's current 2008 market share in respective crops
2. 2020 value reflects gross sales opportunity in launch
country in year 2020
23
PART OF THE MONSANTO BASF YIELD AND STRESS R&D COLLABORATION
24. Strong Pipeline Reflects Growing Innovation and Value of
Emerging Yield and Stress Traits
DISCOVERY PHASE 1 PHASE 2 PHASE 3 PHASE 4
Drought-Tolerant Family
HIGH
FAMILY TRAITS►
CORN: Nitrogen-
BROAD-ACRE HIGH Utilization
FAMILY TRAITS►
COLLABORATION
YIELD
YIELD & STRESS
Family
Broad-Acre,
MEGA Higher-Yielding
FAMILY TRAITS►
Family
SOYBEANS: Broad-Acre,
BROAD-ACRE HIGH Higher-Yielding
FAMILY TRAITS►
YIELD Family
2020 VALUE RANGES: Bollgard III Omega-3
cotton soybeans
Higher -
MEGA HIGH SmartStax
Yielding
corn
$300M-$500M
Insect-protected
Roundup
>$1BM Roundup Ready
Ready 2
2 Yield soybeans
Yield canola
Dicamba-
Dicamba
MID LOW tolerant
and
soybeans
<$150M
glufosinate-
$150M-$300M tolerant Vistive III
cotton
High-oil
Corn Soybeans Cotton Canola soybeans
Note: 2020 value ranges reflect expected annual gross sales in launch country in 2020. 24
25. Monsanto’s Biotech Pipeline Is Accelerating, With Progress
in Key Projects and on Highest-Value Platforms
R&D PIPELINE STATUS:
R&D success reflected in 2 products moving
into commercial arena and 4 phase changes
Roundup Ready 2 Yield to be released on 1-2M
acres in 2009, creating new platform for soybeans
Q1 Q4 Second-generation YieldGard Corn Borer serves
as core component of SmartStax, the unique
insect and weed control platform for future yield
Q2 Q3 and stress traits
Drought-tolerant corn moves into Phase 4 with
first regulatory submission; estimated first yield
and stress trait to launch in corn
High-yielding soybeans move to Phase 3 and
create opportunity to reset yield potential after
Roundup Ready 2 Yield
R&D pipeline commercial value potential
unmatched in the industry
Pipeline potential gross sales of $5B by 2020
Includes 4 blockbusters and 1 mega-blockbuster
Conservatively excludes value for breeding,
vegetables and multi-country opportunities
25
26. Reconciliation of Non-GAAP Financial Measures
Reconciliation of Free Cash Flow
Fiscal Year Fiscal Year Fiscal Year First First
$ Millions 2009 Forecast 2008 2007 Quarter 2009 Quarter 2008
Net Cash Provided (Required) by Operations $3,000 $2,799 $1,854 $114 $996
Net Cash Provided (Required) by Investing Activities (1,200) (2,027) (1,911) $10 (256)
Free Cash Flow $1,800 $772 $(57) $740
$124
Net Cash Provided (Required) by Financing Activities N/A (102) (583) (47)
(258)
Effect of Exchange Rate Changes on Cash and Cash Equivalents N/A 77 46 (137) 58
Net Increase (Decrease) in Cash and Cash Equivalents N/A $747 $(594) $751
$(271)
Reconciliation of Non-GAAP EPS
First First
Fiscal Year Fiscal Year Fiscal Year
$ per share 2009 Forecast 2008 2007 Quarter 2009 Quarter 2008
TBD1 $3.62 $1.79 $1.00 $0.46
Diluted Earnings (Loss) per Share
Solutia Claim Settlement -- ($0.23) -- -- --
Loss (Income) on Discontinued Operations ($0.02) ($0.04) ($0.15) ($0.02) ($0.01)
In-Process R & D Write-Off Related to the De Ruiter Acquisition -- $0.29 -- -- --
In-Process R & D Write-Off Related to the Delta & Pine Land -- -- $0.34 -- --
(D&PL) Acquisition
In-Process R & D Write-Off Related to the Aly Participacoes TBD1 -- -- -- --
Ltda. Acquisition
Diluted Earnings (Loss) per Share from Ongoing Business $4.40-$4.50 $3.64 $1.98 $0.98 $0.45
1. The company is not able to provide a reconciliation to reported EPS guidance for fiscal year 2009 at this time, as it is still evaluating purchase accounting adjustments related
to its recent acquisition of the Brazilian sugar cane business Aly Participacoes Ltda. Such adjustments are dependent upon the completion of valuations of certain intangible
26
assets, including in-process R&D which requires immediate expense recognition and it is expected to be significant.