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.
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.
Hugh Grant, Chairman and CEO of Monsanto, presented at the Goldman Sachs Agricultural Biotech Forum. In the presentation, Grant discussed Monsanto's focus on seeds and traits, which have driven strong gross profit growth. He outlined Monsanto's strategy to extend its leadership in seeds and traits through 2010 by leveraging six growth opportunities. Grant also reviewed Monsanto's corn seed and trait performance in the U.S., noting its strength in key maturity zones is translating to increased market share. He projected demand from ethanol will provide a further boost for Monsanto's corn technology. Internationally, Grant noted Monsanto's seed business provides varying levels of profit opportunity in major corn markets.
The document discusses Monsanto's position in global agricultural markets. It summarizes that Monsanto has maintained market leadership in corn in key markets like Brazil by refreshing its corn portfolio mix through advanced breeding to shift more of the mix to higher-yielding hybrids. This has driven higher yields for farmers and increased Monsanto's profitability in Brazil. Monsanto has also gained market share in major European corn markets like Italy and France through yield advantages established by its breeding programs.
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
1) The document discusses Monsanto's seeds and traits business, which focuses on corn and soybeans.
2) Monsanto has seen strong growth in its seeds and traits segment, with gross profits in this segment growing at a 32% CAGR from 2003-2006.
3) Monsanto believes it can increase its overall gross margin to 51-53% by 2010 by expanding its corn business in the U.S. and internationally, growing other crops like cotton, and developing new traits through its research pipeline.
Monsanto's biotech pipeline is accelerating, with 10 projects either advancing phases or being added in the past year. Key advancements include two generations of drought-tolerant corn families moving forward simultaneously, as well as 4 projects transitioning from Phase 2 to Phase 3. Progress is focusing on the most impactful technologies like drought tolerance and nitrogen utilization in corn. SmartStax was also added to the pipeline as the new corn trait platform to complement Roundup Ready 2 Yield soybeans. Overall the updates show a strengthened pipeline with increased progress across important programs.
This 2003 annual report summarizes General Mills' financial performance for the fiscal year and outlines goals for future growth. Key points:
- Net sales grew 32% to $10.5 billion due to the Pillsbury acquisition and 6% comparable growth. Net earnings doubled to $917 million and EPS rose 81% to $2.43.
- US retail sales grew 25% and operating profits grew 66%, with 4% comparable volume growth from major brands. International sales also grew strongly.
- General Mills realized $350 million in cost synergies from the Pillsbury acquisition and aims to achieve $475 million by 2004 and $775 million by 2006.
- The report expresses confidence that focusing on product innovation,
- Global growth is expected to remain soft through the end of 2012 but stimulus measures could support a recovery in 2013. UK growth has been stagnant for the past two years due to domestic fiscal restraint and weakness in the Eurozone.
- Employment in the UK remains high given the weak economy, but composition of the workforce is changing with more part-time and self-employed workers. Inflation is falling which helps ease pressure on household incomes.
- Monetary policy accommodation by the Bank of England aims to offset continued fiscal tightening, though a fiscal policy change may be needed if growth falters again. Overall the recovery is expected to gain traction in the UK over the medium term.
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.
Hugh Grant, Chairman and CEO of Monsanto, presented at the Goldman Sachs Agricultural Biotech Forum. In the presentation, Grant discussed Monsanto's focus on seeds and traits, which have driven strong gross profit growth. He outlined Monsanto's strategy to extend its leadership in seeds and traits through 2010 by leveraging six growth opportunities. Grant also reviewed Monsanto's corn seed and trait performance in the U.S., noting its strength in key maturity zones is translating to increased market share. He projected demand from ethanol will provide a further boost for Monsanto's corn technology. Internationally, Grant noted Monsanto's seed business provides varying levels of profit opportunity in major corn markets.
The document discusses Monsanto's position in global agricultural markets. It summarizes that Monsanto has maintained market leadership in corn in key markets like Brazil by refreshing its corn portfolio mix through advanced breeding to shift more of the mix to higher-yielding hybrids. This has driven higher yields for farmers and increased Monsanto's profitability in Brazil. Monsanto has also gained market share in major European corn markets like Italy and France through yield advantages established by its breeding programs.
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
1) The document discusses Monsanto's seeds and traits business, which focuses on corn and soybeans.
2) Monsanto has seen strong growth in its seeds and traits segment, with gross profits in this segment growing at a 32% CAGR from 2003-2006.
3) Monsanto believes it can increase its overall gross margin to 51-53% by 2010 by expanding its corn business in the U.S. and internationally, growing other crops like cotton, and developing new traits through its research pipeline.
Monsanto's biotech pipeline is accelerating, with 10 projects either advancing phases or being added in the past year. Key advancements include two generations of drought-tolerant corn families moving forward simultaneously, as well as 4 projects transitioning from Phase 2 to Phase 3. Progress is focusing on the most impactful technologies like drought tolerance and nitrogen utilization in corn. SmartStax was also added to the pipeline as the new corn trait platform to complement Roundup Ready 2 Yield soybeans. Overall the updates show a strengthened pipeline with increased progress across important programs.
This 2003 annual report summarizes General Mills' financial performance for the fiscal year and outlines goals for future growth. Key points:
- Net sales grew 32% to $10.5 billion due to the Pillsbury acquisition and 6% comparable growth. Net earnings doubled to $917 million and EPS rose 81% to $2.43.
- US retail sales grew 25% and operating profits grew 66%, with 4% comparable volume growth from major brands. International sales also grew strongly.
- General Mills realized $350 million in cost synergies from the Pillsbury acquisition and aims to achieve $475 million by 2004 and $775 million by 2006.
- The report expresses confidence that focusing on product innovation,
- Global growth is expected to remain soft through the end of 2012 but stimulus measures could support a recovery in 2013. UK growth has been stagnant for the past two years due to domestic fiscal restraint and weakness in the Eurozone.
- Employment in the UK remains high given the weak economy, but composition of the workforce is changing with more part-time and self-employed workers. Inflation is falling which helps ease pressure on household incomes.
- Monetary policy accommodation by the Bank of England aims to offset continued fiscal tightening, though a fiscal policy change may be needed if growth falters again. Overall the recovery is expected to gain traction in the UK over the medium term.
Group 1 Automotive had another successful year in 2003. Revenues grew 7.2% to $4.5 billion despite challenging economic conditions. Net income grew 13.4% to $76.1 million and earnings per share grew 16.4% to a record $3.26. The company benefited from growth in higher-margin parts, service, and finance/insurance businesses. Acquisitions added $333 million in annual revenues. The company continues to seek acquisitions to diversify its brands, geographies, and revenue streams for stability in changing markets. Group 1 is well-positioned for continued growth with opportunities in the large automotive industry and a strong balance sheet.
The document reviews Monsanto's R&D pipeline. It notes that 5 projects advanced phases and 5 products were added to the pipeline in the past year. Key milestones include the first time 4 projects moved from Phase 2 to Phase 3 and 2 generations of a corn drought family advancing. The pipeline leverages breeding and biotech for commercial growth and new platforms in the next decade.
- Monsanto reported a 10% increase in net sales for the first quarter of fiscal year 2007 compared to the same period in 2006, driven by growth in its U.S. corn seed and traits business and increased sales of Roundup herbicides.
- Net income for the quarter was $90 million, up from $59 million in the prior year. Earnings per share were $0.16 for both reported and ongoing business.
- For the full fiscal year 2007, Monsanto expects earnings per share toward the upper end of its previous guidance range of $1.50 to $1.57 and free cash flow between $875-950 million.
The document provides an earnings conference call summary for Gafisa S.A. for the fourth quarter of 2006. It includes the following key points:
- Gafisa reported a 4% growth in project launches and 86% growth in pre-sales in 4Q06 compared to 4Q05.
- For full year 2006, Gafisa achieved record project launches of R$1.0 billion and pre-sales of R$995 million, up 121% and 70% respectively from 2005.
- Mortgage loans granted by commercial banks and CEF increased 96% and 54% in 2006, respectively, indicating growing demand for financing.
- Gafisa completed the acquisition of AlphaV
By Gert-Jan Stads. Presented at the ASTI-FARA conference Agricultural R&D: Investing in Africa's Future: Analyzing Trends, Challenges, and Opportunities - Accra, Ghana on December 5-7, 2011. http://www.asti.cgiar.org/2011conf
The document provides an overview of HSBC, including:
1) HSBC has a history of steady dividend and earnings per share growth over the past decade.
2) It has a global presence with over 9,500 offices in 76 countries, allowing it to serve customers around the world.
3) HSBC focuses on growing its business organically and through small, strategic acquisitions that fit its overall strategy and improve earnings.
Corporate Income/Franchise and Emergency Excise Tax Affiliations Schedule R...taxman taxman
This form is used by corporations filing a Florida consolidated income tax return to report the members of the consolidated group. It must be filed by the parent corporation and includes the name and address of the parent and subsidiary corporations that comprise the affiliated group. Any changes to the consolidated group during the tax year, such as additions or deletions of subsidiary members, must be reported in Part II using the schedule provided.
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.
1) Monsanto's strategy is to double crop yields by 2030 through innovation to meet growing global demand.
2) Monsanto aims to more than double its seeds and traits platform gross profit by 2012 by focusing on corn, soybean, and cotton seeds and traits.
3) Monsanto's growth strategy has two steps - first establish seed footprint through breeding, then layer on additional value through biotech traits.
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.
-
This document provides a semi-annual update on the performance of Fairfield Sentry Limited (Sentry), a fund that uses a strategy called a split strike conversion to invest in the S&P 100 index. In the second half of 2007 and January 2008, Sentry delivered returns of 3.21% and 0.63% respectively, outperforming the S&P 100 index despite market turbulence. Sentry's strategy aims to match the return of the index with lower volatility by alternating between exposure to the index through options and holding cash.
This document provides a summary of results for JBS S.A. for 2012 and the fourth quarter of 2012. It includes the following key points in 3 sentences:
JBS reported consolidated net revenue of R$75.7 billion for 2012, a 22.5% increase over 2011, with EBITDA of R$4.4 billion, a 40% increase over 2011. For the fourth quarter of 2012, JBS reported net revenue of R$21.9 billion, a 29% increase over the same period in 2011, with EBITDA of R$1.17 billion, a 26% increase over 4Q11. Leverage decreased to 3.4x at the end of 2012 from 4
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.
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.
- 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.
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 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 summarizes Monsanto's third-quarter 2006 financial results and provides projections for key traits. Net sales increased 15% in the third quarter and 19% in the first nine months compared to the previous year. Net income increased significantly due to charges in the prior year related to acquisitions and Solutia. Projections show continued growth in acres of corn and cotton traits in the US through 2010 due to penetration, stacking, and new traits. Factors transitioning now will redefine the industry landscape by the end of the decade as seeds and traits strategies are established and competition increases.
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 an overview of Dow Chemical Company's Chairman and CEO Andrew Liveris' presentation at the Sanford Bernstein Strategic Decisions Conference on May 30, 2008. The presentation covers who Dow is as a global science and technology company, their unmatched strengths in integration, operational excellence, feedstock flexibility and global reach. It outlines Dow's strategy of moving towards more asset-light joint ventures and market-facing performance businesses, and investing in R&D and addressing global megatrends.
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
Group 1 Automotive had another successful year in 2003. Revenues grew 7.2% to $4.5 billion despite challenging economic conditions. Net income grew 13.4% to $76.1 million and earnings per share grew 16.4% to a record $3.26. The company benefited from growth in higher-margin parts, service, and finance/insurance businesses. Acquisitions added $333 million in annual revenues. The company continues to seek acquisitions to diversify its brands, geographies, and revenue streams for stability in changing markets. Group 1 is well-positioned for continued growth with opportunities in the large automotive industry and a strong balance sheet.
The document reviews Monsanto's R&D pipeline. It notes that 5 projects advanced phases and 5 products were added to the pipeline in the past year. Key milestones include the first time 4 projects moved from Phase 2 to Phase 3 and 2 generations of a corn drought family advancing. The pipeline leverages breeding and biotech for commercial growth and new platforms in the next decade.
- Monsanto reported a 10% increase in net sales for the first quarter of fiscal year 2007 compared to the same period in 2006, driven by growth in its U.S. corn seed and traits business and increased sales of Roundup herbicides.
- Net income for the quarter was $90 million, up from $59 million in the prior year. Earnings per share were $0.16 for both reported and ongoing business.
- For the full fiscal year 2007, Monsanto expects earnings per share toward the upper end of its previous guidance range of $1.50 to $1.57 and free cash flow between $875-950 million.
The document provides an earnings conference call summary for Gafisa S.A. for the fourth quarter of 2006. It includes the following key points:
- Gafisa reported a 4% growth in project launches and 86% growth in pre-sales in 4Q06 compared to 4Q05.
- For full year 2006, Gafisa achieved record project launches of R$1.0 billion and pre-sales of R$995 million, up 121% and 70% respectively from 2005.
- Mortgage loans granted by commercial banks and CEF increased 96% and 54% in 2006, respectively, indicating growing demand for financing.
- Gafisa completed the acquisition of AlphaV
By Gert-Jan Stads. Presented at the ASTI-FARA conference Agricultural R&D: Investing in Africa's Future: Analyzing Trends, Challenges, and Opportunities - Accra, Ghana on December 5-7, 2011. http://www.asti.cgiar.org/2011conf
The document provides an overview of HSBC, including:
1) HSBC has a history of steady dividend and earnings per share growth over the past decade.
2) It has a global presence with over 9,500 offices in 76 countries, allowing it to serve customers around the world.
3) HSBC focuses on growing its business organically and through small, strategic acquisitions that fit its overall strategy and improve earnings.
Corporate Income/Franchise and Emergency Excise Tax Affiliations Schedule R...taxman taxman
This form is used by corporations filing a Florida consolidated income tax return to report the members of the consolidated group. It must be filed by the parent corporation and includes the name and address of the parent and subsidiary corporations that comprise the affiliated group. Any changes to the consolidated group during the tax year, such as additions or deletions of subsidiary members, must be reported in Part II using the schedule provided.
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.
1) Monsanto's strategy is to double crop yields by 2030 through innovation to meet growing global demand.
2) Monsanto aims to more than double its seeds and traits platform gross profit by 2012 by focusing on corn, soybean, and cotton seeds and traits.
3) Monsanto's growth strategy has two steps - first establish seed footprint through breeding, then layer on additional value through biotech traits.
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.
-
This document provides a semi-annual update on the performance of Fairfield Sentry Limited (Sentry), a fund that uses a strategy called a split strike conversion to invest in the S&P 100 index. In the second half of 2007 and January 2008, Sentry delivered returns of 3.21% and 0.63% respectively, outperforming the S&P 100 index despite market turbulence. Sentry's strategy aims to match the return of the index with lower volatility by alternating between exposure to the index through options and holding cash.
This document provides a summary of results for JBS S.A. for 2012 and the fourth quarter of 2012. It includes the following key points in 3 sentences:
JBS reported consolidated net revenue of R$75.7 billion for 2012, a 22.5% increase over 2011, with EBITDA of R$4.4 billion, a 40% increase over 2011. For the fourth quarter of 2012, JBS reported net revenue of R$21.9 billion, a 29% increase over the same period in 2011, with EBITDA of R$1.17 billion, a 26% increase over 4Q11. Leverage decreased to 3.4x at the end of 2012 from 4
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.
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.
- 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.
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 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 summarizes Monsanto's third-quarter 2006 financial results and provides projections for key traits. Net sales increased 15% in the third quarter and 19% in the first nine months compared to the previous year. Net income increased significantly due to charges in the prior year related to acquisitions and Solutia. Projections show continued growth in acres of corn and cotton traits in the US through 2010 due to penetration, stacking, and new traits. Factors transitioning now will redefine the industry landscape by the end of the decade as seeds and traits strategies are established and competition increases.
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 an overview of Dow Chemical Company's Chairman and CEO Andrew Liveris' presentation at the Sanford Bernstein Strategic Decisions Conference on May 30, 2008. The presentation covers who Dow is as a global science and technology company, their unmatched strengths in integration, operational excellence, feedstock flexibility and global reach. It outlines Dow's strategy of moving towards more asset-light joint ventures and market-facing performance businesses, and investing in R&D and addressing global megatrends.
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.
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.
Botanical Bounty is seeking a $100,000 loan to finance the expansion of their existing 10 acre botanical perennial farm located in Oregon. They grow 5 plant species with medicinal properties for sale to supplement companies, processors, and nurseries. Their management team brings skills in business, project management, and plant biology. Their financial plan projects sales of $190,000 in year two and $216,000 in year three, indicating profitability. Their keys to success are strict financial controls, producing plants with the highest concentration of active ingredients, and ensuring 100% customer satisfaction.
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.
This document provides financial results for Monsanto's third quarter of 2005. It summarizes that net sales increased 22% compared to the third quarter of 2004, while net income decreased 81% due to charges related to acquisitions. It also notes that stacked corn traits continue to accelerate in the US due to grower demand. The document includes reconciliations of various non-GAAP financial measures to GAAP measures.
This document provides financial results for Monsanto for the third quarter and first nine months of 2005. Net sales increased 22% in the third quarter and 20% for the first nine months compared to the same periods in 2004. However, net income decreased 81% in the third quarter due to in-process R&D write-offs from acquisitions. Earnings per share also decreased but were up 22% for the first nine months. Biotechnology traits, especially stacked traits in corn, continue to drive growth in key markets such as the U.S. Acquisitions of Seminis and Emergent are expected to add to earnings per share and free cash flow forecasts in coming years.
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.
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 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.
Thompson Toc Pw Merrill Lynch Conf London 6 7 07i3mm
The presentation discusses Thomson Corporation's legal segment and its proposed combination with Reuters Group PLC to create a global leader in electronic information services. Some key points:
1) The combination would meet customers' growing demand for broader, faster, and more deeply integrated information and solutions across knowledge-based industries.
2) The new company would have pro forma 2006 revenue of over $11 billion split between the financial and professional segments.
3) Over 86% of combined revenue would be recurring and around 88% would come from electronic, software, and services.
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.
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.
KYC Compliance: A Cornerstone of Global Crypto Regulatory FrameworksAny kyc Account
This presentation explores the pivotal role of KYC compliance in shaping and enforcing global regulations within the dynamic landscape of cryptocurrencies. Dive into the intricate connection between KYC practices and the evolving legal frameworks governing the crypto industry.
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.
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.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
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.
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
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.
3. OVERVIEW
Monsanto Is an Agricultural Company; Our Strategy Is
Focused on Helping Farmers Be More Productive
We are an agricultural company. We apply
innovation and technology to make farmers
more productive and profitable by improving
the ways they can produce food, fiber and
feed.
2005 SALES BREAKDOWN
FOCUS: NET SALES
SEEDS &
GENOMICS
7 6.3
AGRICULTURAL
NET SALES ($ IN BILLIONS)
5.4
6 PRODUCTIVITY
4.9
5
4
3
NORTH AMERICA
2
LATIN AMERICA
1
EUROPE-AFRICA
0
ASIA PACIFIC
2003 2004 2005
3
4. OVERVIEW
Monsanto’s Strategic and Financial Opportunity Lies In
The Seed and Trait Business
FOCUS: 12-MONTH ROLLING GROSS
PROFIT BY BUSINESS SEGMENT
$3,000
SEEDS & GENOMICS SEGMENT
AGRICULTURAL PRODUCTIVITY SEGMENT
$2,500
12-MONTH ROLLING GROSS PROFIT
$2,000
($ IN MILLIONS)
$1,500
$1,000
KEY INFLECTION POINT:
MID-2004, THE ROLLING
$500 GROSS PROFIT FOR THE
SEEDS & GENOMICS
BUSINESS SEGMENT
SURPASSES AGRICULTURAL
PRODUCTIVITY
$0
03
3
03
3
04
4
04
4
05
05
05
5
06
06
06
0
00
0
00
00
20
20
20
20
20
20
20
20
20
20
20
20
2
2
2
1
2
3
4
1
2
3
4
1
2
3
4
1
2
3
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
Q
4
5. OVERVIEW
Profit Growth Is Reflected Across All Four Seed and Trait
Platforms
CORN COTTON
• DEKALB/ASGROW • PROPOSED DELTA
SEED • ASI, INC. AND PINE LAND
SEED
CHANNELS ACQUISITION
CHANNELS
• HOLDEN’S/CORN
STATES • COTTON STATES
• YIELDGARD FAMILY • BOLLGARD FAMILY
KEY KEY
• ROUNDUP READY • ROUNDUP READY
TRAITS TRAITS
FAMILY FAMILY
BIOTECH
AND
BREEDING
R&D
PLATFORM
SOYBEANS VEGETABLES
• DEKALB/ASGROW • SEMINIS AND
SEED
SEED • ASI, INC. RELATED BRANDS
CHANNELS
CHANNELS • HOLDEN’S/CORN
STATES • TOMATOES,
KEY
MELONS, PEPPERS
• ROUNDUP READY CROPS
KEY FAMILY
TRAITS
• VISTIVE FAMILY
5
6. COMMERCIAL OPPORTUNITY
Six Factors Will Redefine the Game By End of the Decade
PERIOD : PERIOD : PERIOD :
SEED & TRAITS ESTABLISHED CORN IS ON THE LEADING EDGE THE GAME CHANGES
2003 2004 2005 2006 2007 2008 2009 2010
Commercial viability of seeds Seed and trait growth comes from: penetration, Gross profit opportunity expands
and traits established; stacking, multi-generation traits, and breeding with penetration, stacking, and
Supporting infrastructure in enhancement. Corn defines the future direction second-generation traits– even as
place competition advances
THESE SIX FACTORS SHOULD COLLECTIVELY
DRIVE GROSS PROFIT THROUGH 2010
1 Growth in the U.S. corn market is not over
2 Growth in international corn market share
3 Biotech traits are advancing internationally
Cotton platform creates new opportunities for
4
growth
5 Seminis to capture additional gross margin
Next-generation pipeline poised for enhanced
6
commercial delivery
6
7. COMMERCIAL OPPORTUNITY
Performance Acceleration Across U.S. Commercial
Channels Is Reflected in Market Share Growth
GROSS PROFIT
DRIVERS
U.S. CORN MARKET SHARE
Growth in the U.S. corn
1 60%
market is not over
Growth in international corn
2
50%
market share
Biotech traits are advancing
3
internationally
40%
Cotton platform creates new
4
opportunities for growth
30%
Seminis to capture
5
additional gross margin
20%
Next-generation pipeline
6 poised for enhanced
commercial delivery
10%
GROSS PROFIT
0%
OBJECTIVES
2001 2002 2003 2004 2005 2006F
Grow U.S. national branded
seed market share by 1-2
1
HOLDENS/CORN STATES AMERICAN SEEDS, INC.
points annually through
2010
LICENSEES BRANDS
2 Grow trait penetration
DEKALB AND ASGROW
Migrate more of the portfolio
BRANDS
3 to multiple-trait, high-margin
sales
7
8. COMMERCIAL OPPORTUNITY
With the Corn Trait Technology in Hand Today, There’s
Opportunity to Double Penetration By End of Decade
GROSS PROFIT U.S. CORN TRAIT OPPORTUNITY
DRIVERS
ROUNDUP
YIELDGARD YIELDGARD
Growth in the U.S. corn
1 READY
CORN BORER ROOTWORM
market is not over CORN 2
Growth in international corn
2 2010
market share
60M 50-60M 25-30M
OPPORTUNITY
Biotech traits are advancing
3
internationally
2006F 33-34M 31-32M 9-10M
Cotton platform creates new
4
55% 52% 30%
BIOTECH
opportunities for growth
ACRES
PLANTED 2006F
Seminis to capture
5
additional gross margin
REMAINING
Next-generation pipeline
AVAILABLE
6 poised for enhanced
ACRES
commercial delivery
GROSS PROFIT FOCUS:
OPPORTUNITY
OBJECTIVES
U.S. TRAIT ACRE
OPPORTUNITY:
Grow U.S. national branded
CURRENT COMMERCIAL
seed market share by 1-2
1 By the end of 2006, Monsanto should
CORN TRAITS
points annually through
penetrate roughly half of the market
2010
opportunity with existing biotech traits.
2 This means we have the opportunity to
2006F:
Grow trait penetration
penetrate another 50% by the end of the
Under 50%
decade with our current commercial
Migrate more of the portfolio penetrated
3 portfolio.
to multiple-trait, high-margin
to date
sales
8
9. COMMERCIAL OPPORTUNITY
Stacking Multiplies the Value Opportunity Per Acre
GROSS PROFIT
DRIVERS AVERAGE U.S. RETAIL VALUE ADDED WITH STACKED TRAITS
Growth in the U.S. corn
1 TRAIT RETAIL VALUE ADDED
market is not over
PER ACRE
3.42
3.5
TRAIT RETAIL VALUE PER
Growth in international corn
2
market share
3
Biotech traits are advancing
3
(INDEXED)
internationally
2.5
ACRE
Cotton platform creates new
4
opportunities for growth
2
1.59
Seminis to capture
5
1.5
additional gross margin
Next-generation pipeline
6 1
poised for enhanced
DOUBLE TRIPLE
commercial delivery
STACK STACK
GROSS PROFIT 1 = INDEXED VALUE OF SINGLE TRAIT
OBJECTIVES
Grow U.S. national branded
ABSOLUTE U.S. CORN ACRES1 (IN MILLIONS)
seed market share by 1-2
1
points annually through
2001 2002 2003 2004 2005 2006F
2010
U.S. SINGLE TRAIT
17.7 23.8 27.3 33.6 30.6 23-24
2 ACRES
Grow trait penetration
U.S. DOUBLE TRAIT
1.2 2.2 5.1 8.7 13.0 20-21
Migrate more of the portfolio ACRES
3 to multiple-trait, high-margin
U.S. TRIPLE TRAIT
sales
0 0 0 0 1.3 5-6
ACRES
1. Absolute acres represent the total number of acres with at least one trait.
9
10. COMMERCIAL OPPORTUNITY
Monsanto’s U.S. Market Share Gains Poised to Be
Replicated in Key International Corn Growing Areas
GROSS PROFIT
DRIVERS SCORECARD
GLOBAL BRANDED MARKET SHARE
Growth in the U.S. corn
1
market is not over CHANGE
FY2004 FY2005 FY2006F (’04-’06)
Growth in international corn
2 NORTH AMERICAN REGION 14% 16% 19% +5%
market share
UNITED STATES 14% 16% 18% +4%
Biotech traits are advancing
3
internationally
EUROPE-AFRICA REGION 13% 15% 15% +2%
Cotton platform creates new
4
FRANCE 10% 14% 15% +5%
opportunities for growth
ITALY 14% 17% 21% +7%
Seminis to capture
5
additional gross margin
HUNGARY 26% 30% 32% +6%
Next-generation pipeline
6 TURKEY 17% 23% 23% +6%
poised for enhanced
commercial delivery
SOUTH AFRICA 38% 44% 49% +11%
GROSS PROFIT ASIA-PACIFIC REGION 35% 37% 35% FLAT
OBJECTIVES INDIA 29% 34% 35% +6%
Grow branded seed market
LATIN AMERICA REGION 37% 38% 38% +1%
share overall internationally
1
by 1-2 points annually MEXICO 58% 57% 60% +2%
through 2010
BRAZIL 35% 35% 34% -1%
Build strategic alliances and
ARGENTINA 35% 37% 35% FLAT
establish hybrid licensing to
2
increase genetic footprint
for future trait penetration
10
11. COMMERCIAL OPPORTUNITY
Biotech Traits Set Up Three Pathways for Mid-Term Growth
Internationally
GROSS PROFIT
DRIVERS EXAMPLE: BIOTECH TRAITS IN EUROPE
Growth in the U.S. corn
1 24M acre opportunity for
market is not over Roundup Ready Corn 2 and 8M
OPPORTUNITY:
PENETRATION acres for Yieldgard Corn Borer
Growth in international corn
2 AND at the turn of the decade
market share
EXPANSION
CURRENT In 2006, biotech traits were
Biotech traits are advancing
3 STATUS: planted in six countries
internationally
EXAMPLE: BIOTECH TRAITS IN BRAZIL
Cotton platform creates new
4
opportunities for growth
20M acre potential for stack of
Seminis to capture
5 Insect Resistant Soybeans with
additional gross margin Roundup RReady2Yield and
OPPORTUNITY:
STACKING 15M acre potential for stack of
Next-generation pipeline
6 Roundup Ready Corn 2 and
poised for enhanced
Yieldgard Corn Borer
commercial delivery
CURRENT Biotech traits in regulatory
STATUS: queue
GROSS PROFIT
EXAMPLE: COTTON TRAITS IN AUSTRALIA
OBJECTIVES
Roundup Ready Flex with
Rapidly penetrate and OPPORTUNITY: Bollgard II stack launches in FY
1 MULTI-
expand planting of biotech 2007
GENERATION
traits in key countries
In 2005-2006 season, over half
CURRENT
Migrate the portfolio to of all acres with at least one
STATUS:
multiple-trait, and/or second trait were stacked
2
generation trait, high-margin
sales
11
12. COMMERCIAL
Market Potential for International Biotech Traits by 2010
Highlights Continued Growth Opportunity
GROSS PROFIT
DRIVERS 2010 INTERNATIONAL TRAIT OPPORTUNITY
Growth in the U.S. corn
1
market is not over
SOYBEANS COTTON CORN
Growth in international corn
2 KEY
ROUNDUP ROUNDUP YIELDGARD
market share MARKETS BOLLGARD &
ROUNDUP YIELDGARD
READY READY CORN
BOLLGARD II
READY ROOTWORM
CORN 2 BORER
FLEX
Biotech traits are advancing
3
internationally BRAZIL 50M 3M 2M 20M 15M 5M
Cotton platform creates new ARGENTINA 37M - - 5M 4M 1M
4
opportunities for growth
INDIA - 10-15M 10-15M 3 – 5M 3 – 5M -
Seminis to capture
5 EUROPE 1M - - 24M 8M 5M
additional gross margin
AFRICA 0.2M 11M 10M 6M 4M -
Next-generation pipeline
6 0.5M- 0.5M-
poised for enhanced AUSTRALIA - - - -
0.8M 0.8M
commercial delivery
TOTAL KEY 24.5– 22.5-
88.2M 58-60M 34-36M 11M
MARKETS 29.8M 27.8M
GROSS PROFIT
63% 0% 31% 1% 11% 0%
OBJECTIVES BIOTECH
ACRES
PLANTED 2006F
Rapidly penetrate and
1 REMAINING
expand planting of biotech
AVAILABLE
traits in key countries
ACRES
Migrate the portfolio to
multiple-trait, and / or
2
second generation trait,
high-margin sales
12
13. COMMERCIAL OPPORTUNITY
In Cotton, Expanded Trait Offerings Create Most Significant
Opportunity for Increased Profitability
GROSS PROFIT U.S. COTTON MARKET SHARE
DRIVERS 100%
DELTA AND
Growth in the U.S. corn
1 PINE LAND
80%
market is not over
STONEVILLE
Growth in international corn
2
60%
market share
FIBERMAX
Biotech traits are advancing
3
40% OTHERS
internationally
Cotton platform creates new
4
20%
opportunities for growth
Seminis to capture
5
0%
additional gross margin
Next-generation pipeline
1999 2000 2001 2002 2003 2004 2005
6 poised for enhanced
commercial delivery
GROSS PROFIT
2006 SECOND-GENERATION TRAIT
OBJECTIVES PENETRATION 1
Expand second-generation,
1 7%
DELTA AND PINE LAND
higher-margin trait offerings
2010 U.S. MARKET OPPORTUNITY
Apply molecular breeding to
2
cotton
10-15M
ROUNDUP READY FLEX
6-8M
BOLLGARD II
1. Second-generation trait penetration reflects percent of commercial portfolio containing
either Roundup Ready Flex, Bollgard II or both traits.
13
14. COMMERCIAL OPPORTUNITY
Seminis to Leverage Portfolio, Pricing and Molecular
Breeding to Create New Growth
GROSS PROFIT VALUE ENHANCEMENT TIMELINE
DRIVERS
OVER THE MID-TERM, SEMINIS WILL UNDERGO THREE PHASES OF
Growth in the U.S. corn
1 EXECUTION EN ROUTE TO UNLOCKING ADDITIONAL VALUE
+
market is not over
+
Growth in international corn
2
OPERATIONAL NEW VALUE PIPELINE
market share
EXCELLENCE CREATION ADVANCEMENT
Biotech traits are advancing
3
BY END OF FY 2007 BY END OF FY 2008 BY END OF FY 2010
internationally
Cotton platform creates new
4
opportunities for growth
Prioritize product Identify and Commercialize
Seminis to capture
5
portfolio by focusing implement first hybrids
additional gross margin
on 20 – 25 key crops opportunities to developed by
Next-generation pipeline that drive profitability price products to molecular
6 poised for enhanced value breeding
commercial delivery
Assemble genetic
maps for key crops Build business Launch
GROSS PROFIT models to create and succession of
capture downstream consumer
OBJECTIVES Enhance R&D
value opportunities benefit
capability and deploy
products
1 molecular markers for
Prioritize product portfolio
agronomic and Enhance product
consumer benefits quality and reduce
Intensify value creation by
costs through
commercializing new
2 manufacturing and
Integrate and
products derived from
logistical
streamline back–
molecular breeding
improvements
office operations
14
15. PIPELINE OPPORTUNITY
“HIT” Projects Designed to Pull Forward the Net Present
Value of Select Pipeline Traits Through Larger-Acre Launches
GROSS PROFIT High-Impact Technology: A designated sub-set of the R&D
DRIVERS pipeline placed on a graduated track to streamline development
P R O JE CT
work and improve commercial readiness. Designed to pull
Growth in the U.S. corn
1 forward the Net Present Value (NPV) through larger-acre
market is not over
launches in elite germplasm with a greater financial benefit.
Growth in international corn
2
market share
Roundup RReady2Yield soybeans
Biotech traits are advancing
3 P R O JE CT
internationally
PHASE III
Cotton platform creates new
4
opportunities for growth • Parallel work in breeding and biotechnology
Seminis to capture • Simultaneous regulatory work, submissions moving
5
additional gross margin forward along with project testing for key launch
countries
Next-generation pipeline
6 poised for enhanced
Drought-tolerant corn
commercial delivery
P R O JE CT
PHASE II
GROSS PROFIT • Parallel work in breeding and biotechnology
OBJECTIVES • Early-stage R&D and commercial integration
Streamline development
work and advance
Vistive III soybeans
1 regulatory submissions P R O JE CT
PHASE II
simultaneously with project
testing
• Progress will allow Vistive III to “leap-frog,”
shortening the gap in commercialization between
Bring “HIT” traits to market
2 Vistive I and Vistive III
with larger-acre launches in
the best seed
15
16. PIPELINE OPPORTUNITY
Reflecting HIT Status, Roundup RReady2Yield Soybeans Is
Targeted for Most Significant Commercial Trait Launch
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
Roundup RReady2Yield AVAILABLE MARKET 70M 50M 35M
Soybeans
CREATING VALUE PERCENT PENETRATED 0% 0% 0%
LAUNCH ACRES OF U.S. TRAITS
PRODUCT CONCEPT 3
HISTORICAL COMMERCIALIZED TRAITS (1996-2006)
2.5
HIT Project
ACRES (IN MILLIONS)
Roundup RReady2Yield soybeans
AVERAGE
2
DISCOVERY PHASE I PHASE II PHASE III PHASE IV HISTORIC TRAIT
LAUNCH:
1.5 1.2M ACRES
1
• Roundup RReady2Yield is the second-generation of
Monsanto’s popular herbicide-tolerant platform in 0.5
soybeans
0
VALUE CONSIDERATIONS SOYBEAN
COTTON
CORN TRAITS TRAITS
TRAITS
• Value is additive, with target of up to 5 bushel-per-
Target acreage for Roundup RReady2Yield
acre yield improvement over comparable Roundup
commercial launch is expected to be a
Ready soybeans
multiple above historical acreages in launch
• Value created through yield gains will be shared with
years
farmer and value chain as has been Monsanto’s
practice
ROUNDUP RREADY2YIELD: COMMERCIAL MILESTONES
• Market opportunity for Roundup RReady2Yield STARTING POINT
U.S. REGULATORY
soybeans recognizes competition from other traits APPROVAL
RETAIL SEASON 1 LAUNCH YEAR
Medium (>$10/acre to <$30/acre)
VALUE/ACRE:
GLOBAL REGULATORY CLEARANCES
TOTAL ACRE
High (>20M acres)
OPPORTUNITY: PRE-COMMERCIAL USER- COMMERCIAL LAUNCH
RELIABILITY TRIALS
16
17. PIPELINE OPPORTUNITY
Multi-Generational Drought-Tolerant Corn to Create
Value Across Multiple Market Segments
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
AVAILABLE MARKET 80M 30M 6M
Drought-tolerant corn PERCENT PENETRATED 0% 0% 0%
P R O JE CT
SEGMENTED VALUE OPPORTUNITY
PRODUCT CONCEPT
ACROSS MARKETS: U.S. EXAMPLE
HIT Project Drought-tolerant corn
DISCOVERY PHASE I PHASE II PHASE III PHASE IV High annual
precipitation
• Drought-tolerance is a family of products, aimed at
providing consistent yield and buffering against the
effects of water limitations
VALUE CONSIDERATIONS
Low annual
• Farmers value water-use in “acre-inches of water” needed precipitation
to support yield potential – farmers need 18-20 inches of Source: Spatial Climate Analysis Service, Oregon State University
moisture from natural or irrigated sources during growing
WESTERN
IRRIGATED STABILITY
season DRYLAND
• Value of the trait is in better yields under moisture-
8-12M acres 10-12M acres 50-60M acres
stressed conditions; Varies by region (see table at right)
• The value will be specific to the variable costs of water use 14-18” typical 14-18” typical 17-19” typical
precipitation in precipitation in precipitation in
by farmers, not fixed costs of irrigation
growing season growing season growing season
• First value models are based in U.S.; International markets
Irrigated Non-irrigated Non-irrigated
follow similar value proposition
RETAIL Value is in Value is in Value is in
Medium (>$10/acre to <$30/acre)
VALUE/ACRE: replacing improved yields improved yields
irrigation, reducing annually, by when moisture is
TOTAL ACRE the variable costs improving water- less than optimal
High (>20M acres)
OPPORTUNITY: of irrigation use efficiency
17
18. FINANCIAL OUTLOOK
Six Drivers Set Up Seeds and Traits for Further Acceleration
into the Next Decade
FOCUS: BUSINESS OPPORTUNITY FOCUS: FINANCIAL TARGET
Six drivers are expected to provide a
positive pull on gross profit with higher-
Monsanto sees a path to cross the 50% gross margin
margin, higher-growth opportunity. That
mark in the next few years and moving toward a 51% to
pull disproportionately benefits Seeds &
53% gross margin by the end of 2010
Genomics segment, but also has a
positive effect on the gross-profit-to-net-
GROSS PROFIT AS A PERCENT OF SALES
sales ratio for the company.
54%
GROSS PROFIT DRIVERS
52%
TARGET OF UP TO
Growth in the U.S. corn market is not
1 51% - 53% GROSS
over 50% MARGIN BY 2010
Growth in international corn market
2 48%
share
Biotech traits are advancing
3 46%
internationally
44%
Cotton platform creates new
4
opportunities for growth
42%
Seminis to capture additional gross
5 2003 2004 2005 2010F
margin
Next-generation pipeline poised for
6 enhanced commercial delivery
18