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.
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.
The document discusses Hugh Grant, Chairman and CEO of Lehman Brothers, and provides forward-looking statements for the company. It also discusses using non-GAAP financial measures in presentations and defines terms used such as fiscal year and trademarks. The overview section describes how farmers aim to maximize yield through genetic gain and technology to preserve that gain, representing Monsanto's seed and trait approach.
This document summarizes Monsanto's research and development focus through 2010. It discusses how Monsanto's R&D is aligned with six key growth drivers and how the company extends its leadership in breeding, biotechnology, and seed traits. Key projects discussed include Roundup Ready 2 Yield soybeans, which are expected to deliver up to a 5 bushel per acre yield improvement over first-generation Roundup Ready soybeans based on 2006 field trial results. The top ten pipeline projects are highlighted for their potential commercial value based on yield gains, health benefits, and insect and drought protection.
1) Monsanto has opportunities to grow its market share and gross profit in key international corn markets like France, Italy, Hungary, Turkey, South Africa, Mexico, and India.
2) The value per acre varies by country, with France, Italy, Hungary, and Mexico representing medium-to-high value opportunities.
3) Monsanto aims to expand its hybrid corn market share in each of the largest corn-growing countries through molecular breeding applications and biotech traits.
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.
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 discusses Monsanto's strategy around seeds and traits for corn. It notes that Monsanto has invested over $5 billion in seeds-and-traits R&D over 10 years. It also discusses Monsanto's leadership in developing and commercializing biotech traits for corn and how the company is focused on delivering total performance to farmers through high-yielding seeds and trait packages. Finally, it provides examples of how drought-tolerant corn in development could create value by accessing new market acres in the U.S., Brazil, and Argentina.
The document discusses opportunities for growth at Monsanto across several business segments through 2010. It outlines opportunities to increase market share and trait adoption in U.S. corn, expand internationally into markets like Europe, Africa, Latin America and Asia, and continue commercializing biotech traits globally, especially soybeans, cotton and corn. Capturing these opportunities could increase Monsanto's gross profit margin from its current level to a target range of 51-53% by 2010.
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.
The document discusses Hugh Grant, Chairman and CEO of Lehman Brothers, and provides forward-looking statements for the company. It also discusses using non-GAAP financial measures in presentations and defines terms used such as fiscal year and trademarks. The overview section describes how farmers aim to maximize yield through genetic gain and technology to preserve that gain, representing Monsanto's seed and trait approach.
This document summarizes Monsanto's research and development focus through 2010. It discusses how Monsanto's R&D is aligned with six key growth drivers and how the company extends its leadership in breeding, biotechnology, and seed traits. Key projects discussed include Roundup Ready 2 Yield soybeans, which are expected to deliver up to a 5 bushel per acre yield improvement over first-generation Roundup Ready soybeans based on 2006 field trial results. The top ten pipeline projects are highlighted for their potential commercial value based on yield gains, health benefits, and insect and drought protection.
1) Monsanto has opportunities to grow its market share and gross profit in key international corn markets like France, Italy, Hungary, Turkey, South Africa, Mexico, and India.
2) The value per acre varies by country, with France, Italy, Hungary, and Mexico representing medium-to-high value opportunities.
3) Monsanto aims to expand its hybrid corn market share in each of the largest corn-growing countries through molecular breeding applications and biotech traits.
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.
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 discusses Monsanto's strategy around seeds and traits for corn. It notes that Monsanto has invested over $5 billion in seeds-and-traits R&D over 10 years. It also discusses Monsanto's leadership in developing and commercializing biotech traits for corn and how the company is focused on delivering total performance to farmers through high-yielding seeds and trait packages. Finally, it provides examples of how drought-tolerant corn in development could create value by accessing new market acres in the U.S., Brazil, and Argentina.
The document discusses opportunities for growth at Monsanto across several business segments through 2010. It outlines opportunities to increase market share and trait adoption in U.S. corn, expand internationally into markets like Europe, Africa, Latin America and Asia, and continue commercializing biotech traits globally, especially soybeans, cotton and corn. Capturing these opportunities could increase Monsanto's gross profit margin from its current level to a target range of 51-53% by 2010.
This document discusses trends in the Brazilian distribution system for agro-inputs like seeds, fertilizers, and crop protection products. It finds that dealers and cooperatives currently supply over 66% of agro-inputs to farmers. However, the distribution channel is facing challenges like farmer defaults, dealer indebtedness, and lack of good management. The document also examines changes in farming practices and the crop protection industry. It predicts the distribution system will see dealer consolidation, more professional management, and new services going forward to adapt to Brazil's growing role in global agriculture.
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
The document provides an overview of Monsanto's European Key Investor Tour scheduled from November 3-7, 2008. It includes forward-looking statements about anticipated financial results and business plans. It also notes trademarks owned by Monsanto and its subsidiaries. The strategic outlook section discusses factors driving continued global demand for corn and soybeans. It outlines Monsanto's goal of doubling crop yields by 2030 through innovation to meet this demand and ensure the company's competitive advantage. Financial projections through 2012 indicate growth in seeds and traits gross profit, driven by corn and soybean seed and traits. The document also reviews Monsanto's strategic focus on seed platforms, expansion of biotech traits, and cash usage primarily for acquisitions and technology
The document provides an overview of JBS S.A.'s 2Q12 results presentation. It summarizes that JBS reported consolidated revenue of R$18.5 billion, a 26.3% increase over 2Q11. Consolidated EBITDA was R$1.012 billion, a 72.3% rise from 2Q11, with an EBITDA margin of 5.5%. It also reviews performance highlights and key financial metrics for each of JBS' business units.
Farmers purchase seeds from multiple brands and dealers to diversify their risk. They typically plant 3-4 brands and 5-8 varieties of corn, with 60% selecting germplasm first before choosing biotech traits. Purchases are made from 2-3 dealers in November and December. 38% of the corn is the latest top-yielding hybrids, with the goal of maximizing yield while minimizing risk through genetic diversity.
dow chemical Goldman Sachs Agricultural Conference Presentationfinance5
Jerome Peribere, President and CEO of Dow AgroSciences, presented at the 2009 Goldman Sachs Agriculture Conference. He summarized Dow AgroSciences' strong financial performance in 2008 with 20% sales growth and 36% EBIT growth. Peribere highlighted the company's focus on consistent financial performance, market access and creativity, franchise expansion, and technology delivery. He showcased recent product launches that are expanding Dow AgroSciences' crop protection franchises and discussed the company's technology pipeline including its SmartStax and DHT traits. Peribere expressed confidence that Dow AgroSciences will continue delivering beyond expectations in these key areas.
Brett Begeman presented on Monsanto's acquisition of Seminis, a leading vegetable seed company. Seminis provides Monsanto with a ready-made, leading position in the untapped vegetable seed segment. Seminis has outperformed financial expectations in 2005 and is expected to be accretive to Monsanto in 2006 and 2007. Seminis' germplasm and breeding capabilities provide opportunities to enhance market share and pricing. Monsanto plans to grow Seminis by advancing its product pipeline while building new breeding technologies, and to lead Seminis by utilizing new generation breeding improvements.
The document provides results and highlights from Biocon for fiscal year 2012. It discusses Biocon's 16% revenue growth to Rs. 2,148 crores and EBITDA and PAT margins of 27% and 16% respectively. It outlines Biocon's research and development efforts including positive results from a phase 3 clinical trial of Itolizumab for psoriasis. It also discusses Biocon's partnerships with Mylan for biosimilar monoclonal antibodies and its biosimilars portfolio including insulin products in clinical trials. The financial highlights section shows Q4 and full year 2012 results.
The document summarizes promotional strategies of food retailers in Ukraine in Q1 2012 compared to 2011. Some key findings include:
- The number of promotional operations increased 18.71% in 2012, with a trend toward more regional editions.
- Metro, Furchet and Amstor had the highest promotional pressure based on number of stores, days, and weighted units featured.
- On average, promotional leaflets contained fewer pages in 2012, indicating retailers were cutting costs by making promotions lighter. Metro, Furchet, Oskar, and Target showed the most significant decreases.
- Analysis of weighted unit typology showed brands made up the largest share but were decreasing slightly, while private label was underrepresented
NERVOUS grain and oilseed markets rose above last year’s summer highs to near three-year peaks toward the end of first quarter 2010 – though wheat and soya prices are backtracking steeply as we go to press.
1) Corn is the highest value seed crop market in Iberia, driven by biotech varieties. Biotech corn varieties have increased their market share from 1998-2005.
2) While a 2006 CAP policy review may not significantly impact overall corn surface area, it could change the farming model to be more professional and entrepreneurial with integrated farm management and new technologies.
3) DEKALB corn brand equity has improved in Spain through initiatives like the re-launch, with increased awareness, positive image, and loyalty. Integration of seed and agricultural chemical businesses provides a competitive advantage through value-added farmer programs.
Renessen leverages the biotechnology expertise of Monsanto and the processing capabilities of Cargill to create new feed opportunities through a 50/50 joint venture formed in 1999. Increased ethanol demand will lead to competition between feed and fuel for US corn supplies, squeezing current corn reserves over the next 10 years. Corn is distributed to four major downstream markets: exports, wet mill, feed mill, and fuel. Market discontinuities create opportunities for value creation by placing ethanol plants in areas traditionally used for hog feed production to bridge localized demand shortages. Renessen's nutrient-rich corn is a precursor to value in their processing system, with their Mavera high-value corn containing higher protein, oil, and lys
1) The document is JBS S.A.'s 1st Quarter 2010 Results presentation from May 14, 2010.
2) It provides an overview of JBS S.A., including its leadership position as the largest protein producer in the world, with a global production platform and major brands.
3) The presentation discusses JBS's strategic focus on branding, value-added products, expanding distribution and production platforms, and reducing costs to drive financial performance.
1) The document is JBS S.A.'s 1st Quarter 2010 Results presentation from May 14, 2010.
2) It provides an overview of JBS S.A., including its leadership in the global protein industry as the world's largest beef, pork, and lamb producer.
3) The presentation discusses JBS's growth strategy of branding, value-added products, expanding distribution and production platforms, and reducing costs to drive financial results.
The document provides an overview of Monsanto's breeding and biotechnology research and development processes. It discusses how breeding and biotechnology provide parallel paths to developing commercial products, with breeding involving germplasm selection and molecular breeding techniques, while biotechnology involves identifying genes and introducing them into plants. The document also notes that delivering yield favors an approach that combines improvements from both breeding and biotechnology working in concert.
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.
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.
Hugh Grant, Chairman and CEO of Monsanto, presented at an industry conference on March 29-30, 2007. In his presentation, he outlined Monsanto's strategy to extend its leadership in seeds and traits through 2010 by focusing on six key growth opportunities: 1) growing U.S. corn market share, 2) increasing U.S. corn trait penetration, 3) expanding into international corn markets, 4) increasing the value of seeds internationally, 5) growing stacked trait penetration, and 6) expanding existing biotech traits globally. Monsanto aimed to increase its gross profit margin from 46% in 2006 to a target range of 51-53% by 2010 by capitalizing on these opportunities.
Monsanto has established strategic crop platforms in high-value crops like corn, oilseeds, cotton, and vegetables through its technology platforms of germplasm, genomics, breeding, and biotechnology. Monsanto's extensive germplasm resources and capabilities in genomics, breeding, and molecular breeding allow it to develop improved seeds and bring greater value to farmers. Recent examples of market results include the introduction of new cotton seeds through molecular breeding for Cotton States and the development and commercialization of Vistive low linolenic soybean oil.
- 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.
- 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.
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.
This document discusses trends in the Brazilian distribution system for agro-inputs like seeds, fertilizers, and crop protection products. It finds that dealers and cooperatives currently supply over 66% of agro-inputs to farmers. However, the distribution channel is facing challenges like farmer defaults, dealer indebtedness, and lack of good management. The document also examines changes in farming practices and the crop protection industry. It predicts the distribution system will see dealer consolidation, more professional management, and new services going forward to adapt to Brazil's growing role in global agriculture.
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
The document provides an overview of Monsanto's European Key Investor Tour scheduled from November 3-7, 2008. It includes forward-looking statements about anticipated financial results and business plans. It also notes trademarks owned by Monsanto and its subsidiaries. The strategic outlook section discusses factors driving continued global demand for corn and soybeans. It outlines Monsanto's goal of doubling crop yields by 2030 through innovation to meet this demand and ensure the company's competitive advantage. Financial projections through 2012 indicate growth in seeds and traits gross profit, driven by corn and soybean seed and traits. The document also reviews Monsanto's strategic focus on seed platforms, expansion of biotech traits, and cash usage primarily for acquisitions and technology
The document provides an overview of JBS S.A.'s 2Q12 results presentation. It summarizes that JBS reported consolidated revenue of R$18.5 billion, a 26.3% increase over 2Q11. Consolidated EBITDA was R$1.012 billion, a 72.3% rise from 2Q11, with an EBITDA margin of 5.5%. It also reviews performance highlights and key financial metrics for each of JBS' business units.
Farmers purchase seeds from multiple brands and dealers to diversify their risk. They typically plant 3-4 brands and 5-8 varieties of corn, with 60% selecting germplasm first before choosing biotech traits. Purchases are made from 2-3 dealers in November and December. 38% of the corn is the latest top-yielding hybrids, with the goal of maximizing yield while minimizing risk through genetic diversity.
dow chemical Goldman Sachs Agricultural Conference Presentationfinance5
Jerome Peribere, President and CEO of Dow AgroSciences, presented at the 2009 Goldman Sachs Agriculture Conference. He summarized Dow AgroSciences' strong financial performance in 2008 with 20% sales growth and 36% EBIT growth. Peribere highlighted the company's focus on consistent financial performance, market access and creativity, franchise expansion, and technology delivery. He showcased recent product launches that are expanding Dow AgroSciences' crop protection franchises and discussed the company's technology pipeline including its SmartStax and DHT traits. Peribere expressed confidence that Dow AgroSciences will continue delivering beyond expectations in these key areas.
Brett Begeman presented on Monsanto's acquisition of Seminis, a leading vegetable seed company. Seminis provides Monsanto with a ready-made, leading position in the untapped vegetable seed segment. Seminis has outperformed financial expectations in 2005 and is expected to be accretive to Monsanto in 2006 and 2007. Seminis' germplasm and breeding capabilities provide opportunities to enhance market share and pricing. Monsanto plans to grow Seminis by advancing its product pipeline while building new breeding technologies, and to lead Seminis by utilizing new generation breeding improvements.
The document provides results and highlights from Biocon for fiscal year 2012. It discusses Biocon's 16% revenue growth to Rs. 2,148 crores and EBITDA and PAT margins of 27% and 16% respectively. It outlines Biocon's research and development efforts including positive results from a phase 3 clinical trial of Itolizumab for psoriasis. It also discusses Biocon's partnerships with Mylan for biosimilar monoclonal antibodies and its biosimilars portfolio including insulin products in clinical trials. The financial highlights section shows Q4 and full year 2012 results.
The document summarizes promotional strategies of food retailers in Ukraine in Q1 2012 compared to 2011. Some key findings include:
- The number of promotional operations increased 18.71% in 2012, with a trend toward more regional editions.
- Metro, Furchet and Amstor had the highest promotional pressure based on number of stores, days, and weighted units featured.
- On average, promotional leaflets contained fewer pages in 2012, indicating retailers were cutting costs by making promotions lighter. Metro, Furchet, Oskar, and Target showed the most significant decreases.
- Analysis of weighted unit typology showed brands made up the largest share but were decreasing slightly, while private label was underrepresented
NERVOUS grain and oilseed markets rose above last year’s summer highs to near three-year peaks toward the end of first quarter 2010 – though wheat and soya prices are backtracking steeply as we go to press.
1) Corn is the highest value seed crop market in Iberia, driven by biotech varieties. Biotech corn varieties have increased their market share from 1998-2005.
2) While a 2006 CAP policy review may not significantly impact overall corn surface area, it could change the farming model to be more professional and entrepreneurial with integrated farm management and new technologies.
3) DEKALB corn brand equity has improved in Spain through initiatives like the re-launch, with increased awareness, positive image, and loyalty. Integration of seed and agricultural chemical businesses provides a competitive advantage through value-added farmer programs.
Renessen leverages the biotechnology expertise of Monsanto and the processing capabilities of Cargill to create new feed opportunities through a 50/50 joint venture formed in 1999. Increased ethanol demand will lead to competition between feed and fuel for US corn supplies, squeezing current corn reserves over the next 10 years. Corn is distributed to four major downstream markets: exports, wet mill, feed mill, and fuel. Market discontinuities create opportunities for value creation by placing ethanol plants in areas traditionally used for hog feed production to bridge localized demand shortages. Renessen's nutrient-rich corn is a precursor to value in their processing system, with their Mavera high-value corn containing higher protein, oil, and lys
1) The document is JBS S.A.'s 1st Quarter 2010 Results presentation from May 14, 2010.
2) It provides an overview of JBS S.A., including its leadership position as the largest protein producer in the world, with a global production platform and major brands.
3) The presentation discusses JBS's strategic focus on branding, value-added products, expanding distribution and production platforms, and reducing costs to drive financial performance.
1) The document is JBS S.A.'s 1st Quarter 2010 Results presentation from May 14, 2010.
2) It provides an overview of JBS S.A., including its leadership in the global protein industry as the world's largest beef, pork, and lamb producer.
3) The presentation discusses JBS's growth strategy of branding, value-added products, expanding distribution and production platforms, and reducing costs to drive financial results.
The document provides an overview of Monsanto's breeding and biotechnology research and development processes. It discusses how breeding and biotechnology provide parallel paths to developing commercial products, with breeding involving germplasm selection and molecular breeding techniques, while biotechnology involves identifying genes and introducing them into plants. The document also notes that delivering yield favors an approach that combines improvements from both breeding and biotechnology working in concert.
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.
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.
Hugh Grant, Chairman and CEO of Monsanto, presented at an industry conference on March 29-30, 2007. In his presentation, he outlined Monsanto's strategy to extend its leadership in seeds and traits through 2010 by focusing on six key growth opportunities: 1) growing U.S. corn market share, 2) increasing U.S. corn trait penetration, 3) expanding into international corn markets, 4) increasing the value of seeds internationally, 5) growing stacked trait penetration, and 6) expanding existing biotech traits globally. Monsanto aimed to increase its gross profit margin from 46% in 2006 to a target range of 51-53% by 2010 by capitalizing on these opportunities.
Monsanto has established strategic crop platforms in high-value crops like corn, oilseeds, cotton, and vegetables through its technology platforms of germplasm, genomics, breeding, and biotechnology. Monsanto's extensive germplasm resources and capabilities in genomics, breeding, and molecular breeding allow it to develop improved seeds and bring greater value to farmers. Recent examples of market results include the introduction of new cotton seeds through molecular breeding for Cotton States and the development and commercialization of Vistive low linolenic soybean oil.
- 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.
- 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.
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.
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.
Monsanto's R&D pipeline leverages breeding and biotechnology to drive commercial growth through 2012. Key priorities include continuing to improve corn, soybean, cotton and vegetable breeding, and delivering new biotechnology traits for yield, stress tolerance and "product families". Early results from 2007 show Monsanto's DEKALB and ASI corn seeds outyielding competitors by 8.3 and 7.5 bushels per acre on average, respectively.
- Robb Fraley is the Chief Technology Officer of Monsanto and was speaking at a Credit Suisse First Boston Investment Conference on September 28, 2005.
- Monsanto's presentation included discussions of their technology leadership in areas such as breeding, biotechnology, germplasm, and molecular markers.
- Monsanto summarized their strategic crop platforms in corn, oilseeds, cotton, and vegetables and how their technology platforms provided competitive advantages in these areas.
Monsanto has revolutionized corn seed production through significant capital investments and operational improvements that have transformed their production process. They have consolidated production facilities, upgraded technology, and implemented process management tools like Six Sigma to significantly increase yields, reduce costs by over 35%, and improve product quality. As a result, Monsanto has enhanced their competitive advantage in seed manufacturing to deliver consistent, high quality products to farmers.
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.
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 uses both breeding and biotechnology as parallel R&D pathways to develop commercial products for farmers. Breeding improves germplasm through traditional plant breeding techniques, while biotechnology uses tools like genomics and molecular markers to identify genes that can be introduced through transgenic techniques. Monsanto partners with other companies and universities to identify beneficial genes and traits, test them in crops, and advance them through development phases to commercial launch. Recent improvements in corn germplasm through breeding have translated to market share gains for Monsanto's corn brands. Cotton States will soon launch a new source of cotton seed developed through molecular breeding by Monsanto to capture market share.
This document discusses Monsanto's acquisition of De Ruiter Seeds. Key points include:
1) De Ruiter Seeds is a leading international protected-culture vegetable seed company that will help address gaps in Monsanto's vegetable and fruit seed portfolio in the fast-growing protected-culture segment.
2) Monsanto signed a definitive agreement to acquire De Ruiter Seeds for €546M, expected to be break even in the first full fiscal year and accretive in the second full fiscal year following closing.
3) De Ruiter Seeds is a proven industry leader, delivering strong financial performance with outlook for continued growth, with net sales of $118.6M in 2005, $
1) Monsanto is acquiring De Ruiter Seeds, a leading international protected-culture vegetable seed company, for approximately $800 million.
2) The acquisition strengthens Monsanto's position in the fast-growing protected-culture vegetable seed segment and improves opportunities to capture value through innovation.
3) The addition of De Ruiter Seeds is expected to boost Monsanto's vegetable seed growth outlook, increasing revenue and gross profit projections by more than 20% through 2012 versus original forecasts.
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
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.
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.
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.
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.
“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
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.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
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.
How to Identify the Best Crypto to Buy Now in 2024.pdfKezex (KZX)
To identify the best crypto to buy in 2024, analyze market trends, assess the project's fundamentals, review the development team and community, monitor adoption rates, and evaluate risk tolerance. Stay updated with news, regulatory changes, and expert opinions to make informed decisions.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
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.
2. Forward-Looking Statements
Certain statements contained in this presentation are “forward-looking statements,” such as statements concerning
the company’s anticipated financial results, current and future product performance, regulatory approvals,
business and financial plans and other non-historical facts. These statements are based on current expectations
and currently available information. However, since these statements are based on factors that involve risks and
uncertainties, the company’s actual performance and results may differ materially from those described or implied
by such forward-looking statements. Factors that could cause or contribute to such differences include, among
others: continued competition in seeds, traits and agricultural chemicals; the company’s exposure to various
contingencies, including those related to intellectual property protection, regulatory compliance and the speed with
which approvals are received, and public acceptance of biotechnology products; the success of the company’s
research and development activities; the outcomes of major lawsuits, including proceedings related to Solutia Inc.;
developments related to foreign currencies and economies; successful completion and operation of recent and
proposed acquisitions; fluctuations in commodity prices; compliance with regulations affecting our manufacturing;
the accuracy of the company’s estimates related to distribution inventory levels; the company’s ability to fund its
short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions,
natural disasters and accidents on the agriculture business or the company’s facilities; and other risks and factors
detailed in the company’s filings with the SEC. Undue reliance should not be placed on these forward-looking
statements, which are current only as of the date of this release. The company disclaims any current intention or
obligation to update any forward-looking statements or any of the factors that may affect actual results.
Trademarks
Roundup, Roundup Ready, Roundup Ready2Yield, Bollgard, Bollgard II, YieldGard, Monsanto, Imagine, Vine
Design, Asgrow, DEKALB, Monsanto Choice Genetics, Posilac, Processor Preferred, and Vistive are trademarks
owned by Monsanto Company and its wholly-owned subsidiaries and are italicized the first time they appear in this
presentation. Mavera™ is a trademark of Renessen.
2
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 on-going 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. These non-GAAP financial measures are not intended to replace net income (loss), cash flows,
financial position, or comprehensive income (loss), as determined in accordance with accounting principles
generally accepted in the United States. 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,
which can be found at the end of this presentation.
Fiscal Year
In this presentation, unless otherwise specified, references to Monsanto’s fiscal years refer to the 12-month period
ending August 31.
Trademarks
Roundup, Roundup Ready, Roundup Ready2Yield, Bollgard, Bollgard II, YieldGard, Monsanto, Imagine, Vine
Design, Asgrow, DEKALB, Monsanto Choice Genetics, Posilac, Processor Preferred, Vistive, and French Kiss are
trademarks owned by Monsanto Company and its wholly-owned subsidiaries and are italicized the first time they
appear in this presentation.
Mavera™ is a trademark of Renessen.
3
4. OVERVIEW
Farmers ‘Buy Yield,’ Opening Opportunity for Seeds and
Traits Strategy
YIELD = GENETIC GAIN X % OF GENETIC GAIN PRESERVED
FARMERS’ DECISION EQUATION MONSANTO’S POSITION: CORN
SEED Retail brands
(GENETIC GAIN)
The starting point of all agriculture; Regional brands
farmers need to maximize ‘genetics’ in
+ TECHNOLOGY
seed for yield Licensing
‘Above ground’ protection
(% OF GENETIC GAIN PRESERVED)
Technology is used to protect and ‘Below ground’ protection
maximize the yield potential of the seed
=
Weed control system
MAXIMUM YIELD The elegance of a seed and trait
POTENTIAL approach is that the seed is the package
and traits can be ‘stacked’ for maximum
The basic equation represents the
effect
maximum yield potential multiplied by
the percent of that yield preserved by
In 2005, Monsanto introduced the first
technology
triple-stack of biotech traits
4
5. OVERVIEW
Breeding and Biotech Provide Parallel R&D Paths to
Commercial Products
BREEDING and BIOTECHNOLOGY form two R&D pathways
Separate, but parallel, the BREEDING and BIOTECHNOLOGY pathways are linked
by shared tools.
DISCOVERY PHASE I PHASE II
R&D PHASE: PHASE III PHASE IV LAUNCH
BREEDING
COMMERCIAL
IT PLATFORM
GERMPLASM
G ANALYTICS
MARKERS
GENOMICS
SEED
ELITE
Germplasm SOLD TO
FARMERS
R
BIOTECHNOLOGY
5
6. PIPELINE UPDATE
Corn Germplasm Improvements Are Tightly Linked to
Market Share Gains U.S.
KEY MARKET ACRES BRAZIL ARGENTINA
BRAND LICENSED ASI
Corn breeding 80M 30M 6M
AVAILABLE MARKET
CREATING VALUE 16% 32% 3% 35% 49%
PERCENT PENETRATED
2005 CORN YIELD (BU/A)
PROJECT UPDATE MONSANTO BRANDS
200
COMPETITORS
Corn Breeding 190
2005 PERFORMANCE 180
RESULTS
• Average yield differential of Monsanto versus
170
competitors’ best material is better than one-third
greater in 2005 compared with 2004 testing
160
• Strong yield advantages are consistent across maturity
zones and outperform best competitive commercial 150
material sold in 2005 95 100 105 110 115
RELATIVE MATURITIES (DAYS)
2006 FOCUS
U.S. CORN MARKET SHARE
• Continue marker-based breeding approach
60%
• Continue focus on broadening genetic base of 50%
commercial products, including strengthening our
40%
SUSTAINABLE
international portfolio
RESULTS
1-2 POINT
30%
• On pace to gain market share in U.S. corn seed for fifth SHARE GAINS
20%
consecutive year
10%
0%
2001 2002 2003 2004 2005 2006 2007
HOLDENS/CORN STATES LICENSEES AMERICAN SEEDS, INC. BRANDS
DEKALB AND ASGROW BRANDS
6
7. COMMERCIAL OPPORTUNITY
Corn Market Share Gains Still to Fully Reflect Power of
Molecular Breeding Application
6% 20%
MOLECULAR-BREEDING HYBRIDS AS A
PERCENT OF BRANDED UNITS SOLD IN
PERCENT OF BRANDED UNITS SOLD
COMMERCIAL CORN PORTFOLIO
IN COMMERCIAL CORN PORTFOLIO
5% 2005 BRANDED
MARKET SHARE:
15%
16%
4%
MARKET SHARE
DEKALB AND ASGROW
3% 10%
BRAND MARKET SHARE
2%
5%
1%
0% 0%
2001 2002 2003 2004 2005 2006F 2007F 2008F
CYCLE 1: CYCLE 2: CYCLE 3:
PROGRESSION
INTEGRATION OF APPLICATION OF MOLECULAR SELECTION POWER OF
OF BREEDING GLOBAL GERMPLASM BREEDING TO SELECTION MOLECULAR BREEDING
TECHNOLOGY
IN THE • MOLECULAR BREEDING
• ASSEMBLED 36 MAJOR CORN • PREDICTIVE COMBINATIONS
COMMERCIAL IMPROVES GENETIC GAIN BY
BREEDING PROGRAMS IN 12 ALLOW MORE EFFICIENT
PORTFOLIO 2X VERSUS CONVENTIONAL
COUNTRIES BREEDING
BREEDING
• FIRST INTRA-COMPANY • MOLECULAR BREEDING
• BY 2006, FIRST MOLECULAR
CROSSES; BY CYCLE 3, >50% ACCELERATES TRAIT
BREEDING HYBRIDS ENTER
OF HYBRIDS IN THE U.S. INTEGRATION BY
COMMERCIAL PORTFOLIO
PORTFOLIO MADE THROUGH SHORTENING ‘BACKCROSSING’
INTRA-COMPANY CROSSES CYCLES
7
8. PIPELINE UPDATE
Cotton Breeding Program Provides Rich Source of Germplasm
to Branded and Licensed Businesses U.S.
COTTON
STONEVILLE
KEY MARKET ACRES STATES
Cotton breeding 14M
AVAILABLE MARKET
CREATING VALUE 14% 0%
PERCENT PENETRATED
PROJECT UPDATE 2005 COTTON GERMPLASM PERFORMANCE
(19 LOCATIONS)
Cotton Breeding 1600
1400
2005 PERFORMANCE
1200
• Monsanto varieties competitive with current market
LBS LINT/ACRE
1000
leaders and include Roundup Ready Flex stacked with
Bollgard II 800
• Stoneville will offer 9 varieties either with the Roundup 600
RESULTS
Ready Flex trait or with Roundup Ready Flex stacked
400
with Bollgard II
200
• Cotton States will have 5 licensees in 2006
0
2005
MONSANTO
2006 FOCUS
COMPETITIVE
VARIETIES
LEADERS
• Introduce 4-6 new, improved varieties with latest trait
offerings
• Continue marker-based breeding approach
• Expand breeding program and evaluations of additional
varieties
8
9. COMMERCIAL OPPORTUNITY
Seminis Addition to Monsanto Quickly Contributes to Growth
And Opens New Business and Research Opportunities
EUROPE-AFRICA
2005
Market Share 19%
Market Position 1
ASIA-PACIFIC
NORTH AMERICA
2005
SEMINIS
2005
Market Share 7%
OPPORTUNITY
Market Share 34%
Market Position 3
Market Position 1
Fruit & vegetable seeds only
represent approximately
3.6% of farmgate value
(corn: 13.2%; soybeans:
11.4%)
Significant growth
opportunities in hybrid
creation
Seminis has the largest
SOUTH AMERICA
global vegetable germplasm
2005
library; molecular breeding
Market Share 37%
tools honed in row crops
Market Position 1
will be applied to vegetables
9
10. DISCOVERY PHASE I PHASE II PHASE III PHASE IV
OVERVIEW
Proof Of Concept Early Advanced Pre-launch
Gene/Trait
2006 Pipeline Development Development
Identification
AS OF JANUARY 1, 2006
Roundup Ready Flex cotton
Roundup RReady2Yield soybeans
Roundup RReady2Yield canola
Dicamba-tolerant soybeans
Dicamba-tolerant cotton
2nd-Gen YieldGard Rootworm
2nd-Gen YieldGard Corn Borer
Insect-protected soybeans
YieldGard Rootworm II
FARMER
Soybean nematode-resistance
Bollgard III
Drought-tolerant corn
2nd-Gen Drought-tolerant corn
Higher-yielding canola
Drought-tolerant soybeans
Drought-tolerant cotton
Higher-yielding corn
Nitrogen utilization corn
Higher-yielding soybeans
Mavera™ High-value corn with lysine
PROCESSOR
Mavera™ I High-value soybeans
Mavera™ II High-value soybeans
2nd-Gen High-value corn with lysine
Feed Corn with balanced proteins
High oil soybeans for processing
CONSUMER
Improved-protein soybeans
Vistive II Low Lin – Mid Oleic soybeans
Vistive III Low Lin – Mid Oleic – Low Sat soybeans
Omega-3 soybeans
10
11. LEADERSHIP
Efficient Discovery Program Is in Full Gear, Fueling
Pipeline Expansion and Performance
PHASE II PHASE III
DISCOVERY PHASE I PHASE IV
Early Development Advanced
Proof Of Concept Pre-launch
Gene/Trait Development
Identification
AVERAGE
24 to 48 MONTHS 12 to 24 MONTHS 12 to 24 MONTHS 12 to 24 MONTHS 12 to 36 MONTHS
DURATION1
AVERAGE
5 PERCENT 25 PERCENT 50 PERCENT 75 PERCENT 90 PERCENT
PROBABILITY
OF SUCCESS2
ION
AT
GR
E
INT
IT
RA
T G
STIN
D TE
FIEL
MONSANTO
DISCOVERY + REGULATORY DATA GENERATION
COLLABORATIVE REG
U LATO
PARTNERS RY S
UBM
IS SION
KEY INFLECTON POINT: SE
ED
BU
AFTER PHASE II COMMERCIAL LK
UP
SUCCESS GOES TO >50%
WITH LEADS ON COMMERCIAL
TRACK
TENS OF THOUSANDS THOUSANDS 10s <5 1
GENES IN
TESTING
•HIGH-THROUGHPUT •GENE OPTIMIZATION •TRAIT •TRAIT INTEGRATION •REGULATORY
KEY ACTIVITY
SCREENING DEVELOPMENT SUBMISSION
•CROP •FIELD TESTING
•MODEL CROP TRANSFORMATION •PRE-REGULATORY •SEED BULK-UP
•REGULATORY DATA
TESTING DATA GENERATION •PRE-MARKETING
•LARGE-SCALE
TRANSFORMATION
1. Time estimates are based on our experience; they can overlap. Total development time for any particular product may be shorter or longer than the time estimated here.
2. This is the estimated average probability that the traits will ultimately become commercial products, based on our experience. These probabilities may change over time.
11
12. LEADERSHIP
Monsanto Is Upgrading the Entire Commercial Trait
Portfolio to Second- and Third-Generation Traits
TECHNOLOGY UPGRADES IN THE PIPELINE
CORE FIRST-
COMMERCIALIZED
DISCOVERY PHASE I PHASE II PHASE III PHASE IV
GENERATION
SECOND-
Proof Of Concept Early Development Advanced Development Pre-launch
Gene/Trait
TECHNOLOGY
GENERATION
Identification
YIELDGARD CORN
2ND GEN YIELDGARD
BORER
CORN BORER
(1997)
UPGRADE: BROADER BENEFIT: FULL-SEASON
INSECT CONTROL; CONTROL OF EUROPEAN
BETTER IRM PROPERTIES CORN BORER
ROUNDUP READY
ROUNDUP READY
CORN
CORN 2
(1998)
(2001)
BENEFIT: NEW WEED
UPGRADE: SIMPLIFIED
CONTROL SYSTEM
WEED CONTROL,
GREATER FLEXIBILITY
YIELDGARD
YIELDGARD 2ND GEN YIELDGARD
ROOTWORM
ROOTWORM II ROOTWORM
(2003)
UPGRADE: NEW MODE OF UPGRADE: IMPROVED BENEFIT: CONTROL OF
ACTION FOR INSECT EFFICIENCY OF STACKING CORN ROOTWORM
CONTROL IN ELITE GERMPLASM
ROUNDUP READY
ROUNDUP
DICAMBA-TOLERANT
SOYBEANS
RREADY2YIELD
SOYBEANS
(1996)
SOYBEANS
UPGRADE: ADDITIONAL BENEFIT: NEW WEED
UPGRADE: GREATER
MODE OF ACTION CONTROL SYSTEM
FLEXIBILITY; YIELD
BENEFIT
BOLLGARD
BOLLGARD II
BOLLGARD III
COTTON
COTTON
COTTON
(1996)
(2003)
BENEFIT: BROADER
BENEFIT: IN-PLANT
BENEFIT: BROADER
INSECT CONTROL;
CONTROL OF THE
INSECT CONTROL;
BETTER IRM PROPERTIES
BOLLWORM
BETTER IRM PROPERTIES
ROUNDUP READY
ROUNDUP READY
DICAMBA-TOLERANT
COTTON
FLEX COTTON
COTTON
(1997)
(2006)
BENEFIT: ADDITIONAL BENEFIT: NEW WEED
BENEFIT: GREATER
MODE OF ACTION CONTROL SYSTEM
FLEXIBILITY; HERBICIDE
REPLACEMENT
12
13. COMMERCIAL OPPORTUNITY
Roundup Ready Flex Launch To Be Most Significant in
10-Year History of Biotech Traits
KEY MARKET ACRES U.S. INDIA AUSTRALIA
Roundup Ready 10-15M
AVAILABLE MARKET 10-15M 0.5-0.8M
Flex Cotton
2006 STATUS
0%
0% 0%
PERCENT PENETRATED
Anticipated trait launch of 2-3 million acres in U.S. in 2006 through 10 cotton
ROUNDUP READY
FLEX COTTON
(2006) seed suppliers
• Pricing at a Roundup Ready Flex will be only stacked with Bollgard II at approximately
premium of $6-$11 70-80% of mix
an acre over the
Introductory acres planted in Australia; full launch set for 2007
first-generation of
Roundup Ready Trait in initial breeding phase with licensees in India in preparation for filing
cotton for regulatory field trials
The Roundup Ready
Flex cotton trait will
be coupled with our
Stoneville brand and
our Cotton States
licensing as a
showcase of
Monsanto’s cotton
business
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
13
14. LEADERSHIP
Within Discovery Platforms, Products Are Maturing into
Families
TECHNOLOGY UPGRADES IN THE PIPELINE
FIRST-
DISCOVERY PHASE I PHASE II PHASE III PHASE IV COMMERCIALIZED
GENERATION
SECOND-
Proof Of Concept Early Development Advanced Pre-launch
Gene/Trait
Development
TECHNOLOGY
Identification
GENERATION
ROUNDUP READY
DICAMBA- ROUNDUP
SOYBEANS
TOLERANT RREADY2YIELD 2 1
3 2 (1996)
SOYBEANS SOYBEANS
HERBICIDE ROUNDUP READY
DICAMBA- ROUNDUP READY
FLEX COTTON
TOLERANCE TOLERANT 3 2 1 COTTON
2 (2006)
COTTON (1997)
ROUNDUP READY ROUNDUP READY
CORN 2 CORN
2 1
(2001) (1998)
2nd GEN DROUGHT-
2 1
DROUGHT- TOLERANT CORN
TOLERANT CORN
STRESS DROUGHT-
1 TOLERANT
TOLERANCE SOYBEANS
DROUGHT-
1 TOLERANT
COTTON
MAVERATM HIGH-
2nd GEN HIGH-
PROCESSOR 2 1 VALUE CORN
VALUE CORN
BENEFITS: WITH LYSINE
WITH LYSINE
PROTEIN
ENHANCE- MAVERATM I HIGH-
MAVERATM II HIGH-
1
2 VALUE SOYBEANS
MENTS VALUE SOYBEANS
VISTIVE III LOW VISTIVE LOW LIN
VISTIVE II LOW
LIN - MID OLEIC – SOYBEANS/
1
LIN - MID OLEIC
2 2
3
LOW SAT RAPE SEED
SOYBEANS
SOYBEANS
HEALTHIER
OMEGA-3
FOODS SOYBEANS
IMPROVED-PROTEIN
SOYBEANS
14
15. LEADERSHIP
Weed Control Family Is Progressing Fastest on Multi-
Generational, Multi-Crop Offerings
TECHNOLOGY UPGRADES IN THE PIPELINE
FIRST-
DISCOVERY PHASE I PHASE II PHASE III PHASE IV COMMERCIALIZED
GENERATION
SECOND-
Proof Of Concept Early Development Advanced Pre-launch
Gene/Trait
Development
TECHNOLOGY
Identification
GENERATION
ROUNDUP READY
DICAMBA- ROUNDUP
SOYBEANS
TOLERANT RREADY2YIELD 2 1
3 2 (1996)
SOYBEANS SOYBEANS
HERBICIDE ROUNDUP READY
DICAMBA- ROUNDUP READY
FLEX COTTON
TOLERANCE TOLERANT 3 2 1 COTTON
2 (2006)
COTTON (1997)
ROUNDUP READY ROUNDUP READY
CORN 2 CORN
2 1
(2001) (1998)
Herbicide Tolerance Family
• First-mover advantage has enabled
development of family of products
and extension into multiple crops
• Expansion possible because of
strength of internal discovery
program and licensing relationships
• Pricing on next-generation traits
reflects flexibility in weed control,
yield gains and other benefits that
accrue to the farmer
15
16. PIPELINE UPDATE
Second-Generation Platform Expands Soybean Weed
Control Window, Benefits for Growers
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
Roundup RReady2Yield 70M 50M 35M
AVAILABLE MARKET
soybeans
CREATING VALUE 0% 0% 0%
PERCENT PENETRATED
PROJECT UPDATE
Roundup RReady2Yield soybeans
DISCOVERY PHASE I PHASE II PHASE III PHASE IV
PERFORMANCE UPDATE
• Lead event confirmed in April of 2005
RESULTS
• 2003-2005 U.S. field trials confirmed target yield and
wider window of application benefits
• Trait integration efforts started
• Implementation of marker-assisted selection
2006 FOCUS
• Continued field testing to build data for regulatory
submissions
• Continued field testing to confirm glyphosate activity in
2005 U.S. field tests confirmed yield targets;
suppressing Asian rust in soybeans
The use of marker-assisted selection helped
teams working on trait selection
DISCOVERY PHASE I PHASE II PHASE IV LAUNCH
PHASE III
Proof of Concept Early Development Pre-Launch
Adv. Development
16
17. PIPELINE UPDATE
Third-Generation of Soy Weed Control Encouraging in
2005 Field Trials
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
Dicamba-tolerant 70M 50M 35M
AVAILABLE MARKET
soybeans
CREATING VALUE 0% 0% 0%
PERCENT PENETRATED
PROJECT UPDATE
WITH TRAIT
Dicamba-tolerant soybeans
DISCOVERY PHASE I PHASE II PHASE III PHASE IV
2005 PERFORMANCE
• Third-generation project enters pipeline in Phase II as a
result of University of Nebraska collaboration
RESULTS
announced in 2005
• Predicted value added in the range of $2.50-$12/acre,
depending on the weed spectrum
WITHOUT
2006 FOCUS TRAIT
• Continue to screen events in field conditions,
screening for leads with commercial potential Tolerance demonstrated at both pre-emergence
and post-emergence application timing, with no
visual crop injury at rates of 1.5lb/acre, which is
three times the labeled use rate (above)
DISCOVERY PHASE I PHASE II PHASE IV LAUNCH
PHASE III
Proof of Concept Early Development Pre-Launch
Adv. Development
17
18. LEADERSHIP
Stress Family Has Already Entered Second-Generation
Discovery, Expanded Into New Crops
TECHNOLOGY UPGRADES IN THE PIPELINE
FIRST-
DISCOVERY PHASE I PHASE II PHASE III PHASE IV COMMERCIALIZED
GENERATION
SECOND-
Proof Of Concept Early Development Advanced Pre-launch
Gene/Trait
Development
TECHNOLOGY
Identification
GENERATION
2nd GEN DROUGHT-
2 1
DROUGHT- TOLERANT CORN
TOLERANT CORN
STRESS DROUGHT-
1 TOLERANT
TOLERANCE SOYBEANS
DROUGHT-
1 TOLERANT
COTTON
Stress Tolerance Family
• Initial discovery focus on drought
tolerance
• Rapid pace of discovery has led to
second-generation corn trait
entering Phase I as first-generation
advances to Phase II
• Expansion already made into
multiple crops
18
19. PIPELINE UPDATE
Drought-Tolerant Corn Advances to Phase II Based on
Second-Year Field Test Results
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
Drought-tolerant corn 80M 30M 6M
AVAILABLE MARKET
CREATING VALUE 0% 0% 0%
PERCENT PENETRATED
PROJECT UPDATE 8
DURING DROUGHT STRESS
Drought
Drought-tolerant corn tolerance
% IMPROVED GROWTH
6 established
DISCOVERY PHASE I PHASE II PHASE III PHASE IV
RESULTS
through plant
physiology
4
(performance)
2005 PERFORMANCE
over three
2
• Moved into Phase II years
2003 2004 2005
• In second year, lead genes tested in drought conditions
in 7 locations, broad-acre application in 10 locations
• Physiological drought tolerance repeated over past 3 40 In multiple
years locations of
% YIELD ADVANTAGE
drought-
20
2006 FOCUS condition field
RESULTS
trials, best-
• Continue to screen lead events for performance 0 performing
• Continue commercial transformations for second events show
60 80 100 120
generation of drought tolerance; Second set of genes significant yield
-20
are being evaluated in Discovery and Phase I advantage over
conventional
• Select optimal germplasm for drought genes
checks
-40
LOCATIONS WITH INCREASING DROUGHT SEVERITY
DISCOVERY PHASE I PHASE II PHASE IV LAUNCH
PHASE III
Proof of Concept Early Development Pre-Launch
Adv. Development
19
20. LEADERSHIP
Processor Benefits Family Creates New Opportunity in
Animal Feed Market
TECHNOLOGY UPGRADES IN THE PIPELINE
FIRST-
DISCOVERY PHASE I PHASE II PHASE III PHASE IV COMMERCIALIZED
GENERATION
SECOND-
Proof Of Concept Early Development Advanced Pre-launch
Gene/Trait
Development
TECHNOLOGY
Identification
GENERATION
MAVERATM HIGH-
2nd GEN HIGH-
PROCESSOR 2 1 VALUE CORN
VALUE CORN
BENEFITS: WITH LYSINE
WITH LYSINE
PROTEIN
ENHANCE- MAVERATM I HIGH-
MAVERATM II HIGH-
1
2 VALUE SOYBEANS
MENTS VALUE SOYBEANS
Processor Benefits Family
• Renessen joint venture includes
both biotech and breeding
approaches to adding value in the
feed industry
MaveraTM family branded in last year
•
to establish the new high-value seed-
and-trait approach to the feed market
20
21. PIPELINE UPDATE
High-Lysine Is First Biotechnology Quality Trait for
Animal Feed Industry
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
MaveraTM High-Value Corn 5M 2M 1M
AVAILABLE MARKET
with Lysine
CREATING VALUE
0% 0% 0%
PERCENT PENETRATED
PROJECT UPDATE
FIELD DATA VALIDATES
MaveraTM High-Value Corn with Lysine
LYSINE TARGETS
DISCOVERY PHASE I PHASE II PHASE III PHASE IV
5000
4000
2005 PERFORMANCE
• Final U.S. regulatory clearance received in February 3000
• Initially, high-lysine trait will be offered in stacked
1ST GENERATION
combination with YieldGard Corn Borer, with the 2000
opportunity to move to additional combinations with
YieldGard Rootworm and Roundup Ready Corn 2 MINIMUM
1000
TARGET
2006 FOCUS
0 SOUTH U.S. RESULT
CONTROL
AMERICA
• Final commercial evaluation under an experimental (2004)
RESULT
field program in 2006, with limited commercial acreage (2005)
in 2007
• Finalize regulatory approvals in key export markets
• High-lysine trait is also key component of new high-
value ethanol production process being tested by
Renessen
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
21
22. LEADERSHIP
Pipeline and Commercial Prospects Are Strong, Diverse
Across Food-Trait Platforms
TECHNOLOGY UPGRADES IN THE PIPELINE
FIRST-
DISCOVERY PHASE I PHASE II PHASE III PHASE IV COMMERCIALIZED
GENERATION
SECOND-
Proof Of Concept Early Development Advanced Pre-launch
Gene/Trait
Development
TECHNOLOGY
Identification
GENERATION
VISTIVE III LOW VISTIVE LOW LIN
VISTIVE II LOW
LIN - MID OLEIC – SOYBEANS/
1
LIN - MID OLEIC
2 2
3
LOW SAT RAPE SEED
SOYBEANS
SOYBEANS
HEALTHIER
OMEGA-3
FOODS SOYBEANS
IMPROVED-PROTEIN
SOYBEANS
Healthier Foods Family
• Vistive low-linolenic soybeans to
expand to 500,000 acres in 2006
• Agreement signed with Solae
Company to use improved-protein
soybeans in a new product line
• Positive progress made across the
family, including Omega-3 soybeans
advancing phases
22
23. COMMERCIAL OPPORTUNITY
Vistive Family of Improved Oils Meets Multiple Needs in
Food Industry
TARGET: LOW LINOLENIC TARGET: LOW LINOLENIC
TARGET: LOW SAT
VISTIVE SOYBEANS VISTIVE RAPESEED +INCREASED OLEIC
+ LOW LINOLENIC
2005 LAUNCH 2005 LAUNCH
500K ACRES IN US 40K ACRES IN EUROPE
VISTIVE III LOW LIN –
MID OLEIC – LOW SAT
TARGET: INCREASED OLEIC
SOYBEANS
+ LOW LINOLENIC
VISTIVE PHASE II
FAMILY VISTIVE II LOW LIN –
MID OLEIC SOYBEANS CONSUMER
PHASE III MARKET
OIL FOR
FRYING AND
IMPROVED SOYBEAN
SPRAYING
QUALITY FOR LIQUID OILS Crackers
Snack chips
23
24. PIPELINE UPDATE
2005 Marked Successful Completion of Initial Taste,
Smell and Oil Stability Testing for Omega-3 Soybeans
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
Omega-3 soybeans TBD TBD TBD
AVAILABLE MARKET
CREATING VALUE 0% 0% 0%
PERCENT PENETRATED
PROJECT UPDATE 400
Stabilized 20% SDA
Omega-3 soybeans 350
DISCOVERY PHASE I PHASE II PHASE III PHASE IV
20% SDA w/ CA
300
PEROXIDE VALUE, MEQ/KG
Stabilized Fish Oil
250
2005 PERFORMANCE
200
• Moved into Phase III
• Field trials continue to confirm expression of
RESULTS
150
stearidonic acid (SDA) levels at concept targets
100
• Initial sensory data superior to fish oil
50
2006 FOCUS
0
• Continue to screen to select the lead event for
0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30
regulatory submission DAYS AT 55°C
In testing for oil stability, SDA oil produced
from Omega-3 soybean plants showed less
oxidation – an indicator of stability – than fish oil
where both oils were stabilized with commercial
products
DISCOVERY PHASE I PHASE II PHASE IV LAUNCH
PHASE III
Proof of Concept Early Development Pre-Launch
Adv. Development
24
25. LEADERSHIP
Monsanto’s Pipeline Is Balanced Across Multiple
Market Opportunities
OMEGA 3
SOYBEANS VISTIVE III
>$30/ ACRE
SOYBEANS
HIGH:
DICAMBA-
TOLERANT
SOYBEANS
DICAMBA- ROUNDUP
YIELDGARD
TOLERANT RREADY2YIELD
BOLLGARD III
ROOTWORM II
COTTON SOYBEANS
2ND GEN HIGH-VALUE
VISTIVE II
CORN WITH LYSINE
RETAIL VALUE PER ACRE2
SOYBEANS
<$30/ ACRE
ROUNDUP READY
MEDIUM:
HIGHER- ROUNDUP 2ND GEN
FLEX COTTON
YIELDING RREADY2YIELD YIELDGARD
FEED CORN WITH
CANOLA CANOLA NITROGEN-
ROOTWORM
BALANCED PROTEINS UTILIZATION CORN
2ND GEN
MAVERATM II HIGH- DROUGHT-TOLERANT
YIELDGARD
IMPROVED- VALUE SOYBEANS DROUGHT- CORN
CORN BORER
PROTEIN TOLERANT HIGHER-YIELDING
SOYBEANS COTTON SOYBEANS
MAVERATM HIGH-VALUE INSECT- SOYBEAN DROUGHT-
CORN WITH LYSINE PROTECTED NEMATODE TOLERANT
SOYBEANS RESISTANCE SOYBEANS
<$10/ ACRE
SMALL:
HIGH OIL
SOYBEANS FOR
MAVERATM HIGH-
PROCESSING
VALUE SOYBEANS
SMALL: <5M ACRES MEDIUM: <20M ACRES HIGH: >20M ACRES
TOTAL ACRE OPPORTUNITY1
1. “Total Acre Opportunity” represents the maximum acre penetration by the trait individually and as a stacked trait during the three-year span of its peak; Second- and third-generation traits may cannibalize acre
opportunities of preceding product offerings
2. “Retail Value Per Acre” represents the per-acre average value for the individual trait in the three-year span during the trait penetration peak
25
26. COMMERCIAL OPPORTUNITY
Market Potential for Biotech Traits Highlights Continued
Growth Opportunity
SOYBEANS COTTON CORN
MARKET
OPPORTUNITY: ROUNDUP
KEY MARKETS BOLLGARD I ROUNDUP YIELDGARD YIELDGARD
READY
ROUNDUP READY
AND II READY CORN BORER ROOTWORM
FLEX
UNITED
70M 10-15M 6-8M 60M 50-60M 25-30M
STATES
BRAZIL 50M 3M 2M 20M 15M 5M
ARGENTINA 35M - - 5M 4M 1M
INDIA - 10-15M 10-15M 3 – 5M 3 – 5M -
EUROPE 1M - - 24M 8M 5M
AFRICA 0.2M 11M 10M 6M 4M -
AUSTRALIA - 0.5M-0.8M 0.5M-0.8M - - -
TOTAL KEY 34.5-
156.2M 28.5-35.8M 118-125M 84-96M 36-41M
MARKETS 44.8M
76% 0% 35% 19% 40% 10%
BIOTECH
ACRES
PLANTED 2005
REMAINING
AVAILABLE
MARKET
26
27. OVERVIEW
Drivers of Growth in Mid-Term and Long-Term Horizons
Are On Track
FY2006 AND FY2007 TARGETS FY2008 - FY2010
2006 2007
2006
LEADERSHIP
TARGET FORECAST TARGET
$2.35-$2.50 $2.82-$3.00
$2.35-$2.50 Accelerate Current
EARNINGS UP TO 20% 20% GROWTH
TOWARD UPPER Commercial Platform
PER SHARE GROWTH FROM FROM 2006
END OF RANGE
2005 PROJECTION Expanded long–term opportunity
for corn traits, reflecting
FREE CASH opportunity in licensing,
$825M - $900M $825M - $900M $875-$950M
FLOW stacking and price-to-value
strategies
KEY COMMERCIAL COMMITMENTS
Expand in New Markets
US CORN
1 – 2 pts 1 – 2pts
SHARE Penetration of new markets in
Asia, Europe and South America
US RR CORN 30M ACRES 34M ACRES with existing traits
New opportunity in the high-
US YGRW 8M ACRES 10M ACRES margin Seminis business
Discover New Opportunities
US COTTON
1 – 2 POINTS 1 – 2 POINTS
Through Research
SHARE
Refreshing of first-generation
US RR FLEX 2 – 3M ACRES 2 – 3M ACRES
trait portfolio
AUSTRALIA Breeding programs expand our
80-85%
90% penetration
COTTON genetic footprint
penetration
TRAITS
Translate Growth to Value
BRAZIL RR 5 – 10 cents per 5 – 10 cents per
Gross profit mix reflects higher-
EPS share share margin seeds and traits
27
28. Reconciliation of Non-GAAP Financial Measures
Reconciliation of Free Cash Flow
Fiscal Year Fiscal Year
2006 2007
$ Millions Target Target
Net Cash Provided by Operations $1,300 - $1,375 $1,375 - $1,450
Net Cash Provided (Required) by Investing Activities $(475) $(500)
Free Cash Flow $825 - $900 $875-$950
Net Cash Provided (Required) by Financing Activities N/A N/A
Net Increase in Cash and Cash Equivalents N/A N/A
28