- 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'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.
Release coating special additive product selection guideXin Zheng
This document provides a product selection guide for release coatings and special additives from Mayzo Inc. It includes a table listing various product forms including liquids and powders. The table specifies the solubility, substrate compatibility, and chemical composition of each product. A second table lists special additive products and their compatibility with various polymers and rubbers. The guide provides application guidelines and characteristics for selecting the appropriate release coating or additive for different manufacturing applications.
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.
This document provides an overview of Monsanto's strategy and financial performance. It discusses how Monsanto is positioned for growth through 2022 by focusing on innovation and expanding its seed and trait portfolio globally. Key points include:
- Monsanto has grown its gross profit and ongoing EPS significantly from 2004-2008 through its seeds and genomics segment, driven by innovative solutions and seed share gains.
- Its seed base and portfolio of patented traits have created unmatched capabilities in major crops like corn, soybeans, and cotton.
- Brands like DEKALB and ASI are gaining share in corn as investment in breeding delivers yield advantages over competitors.
- Triple-stack corn trait penetration exceeded expectations in 2008
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.
Fifth Third Bancorp reported third quarter earnings per share of $0.76, an increase of 9% from the prior year. Earnings were impacted by a $0.02 per share charge from adopting a new accounting standard. Excluding this, earnings were $0.77 per share. Revenue increased due to strong loan and deposit growth as well as higher fees. Expenses rose 3% from increased spending on sales force expansion and infrastructure investments. Credit quality modestly improved with lower net charge-offs and stable non-performing assets. The company reiterated its positive outlook for the remainder of 2003 and into 2004.
Fifth Third Bank is a top 15 US bank by assets and market capitalization with over $116 billion in assets and over 2,300 ATMs across 12 states. The presentation discusses Fifth Third's increasing net interest income, with 3Q08 results showing 41% year-over-year growth and a net interest margin of 4.24%. Fee income has also grown steadily, with particular increases in payment processing, deposit service charges, corporate banking, and mortgage banking. Financial technology processing services has emerged as a key growth engine for noninterest revenue.
Virgin Media reported its second quarter 2008 results, showing growth in operating cash flow and continued low customer churn. Key highlights included a 5.3% increase in total subscribers to over 12 million, operating cash flow growth of 5.4%, and record triple-play penetration of over 53%. However, the company also reported a net loss of £333 million due to a non-cash goodwill impairment charge related to its mobile segment. The CEO commented that the company has strengthened its customer base and network capabilities while reducing costs, and will continue focusing on next-generation broadband and on-demand TV to drive future 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.
Release coating special additive product selection guideXin Zheng
This document provides a product selection guide for release coatings and special additives from Mayzo Inc. It includes a table listing various product forms including liquids and powders. The table specifies the solubility, substrate compatibility, and chemical composition of each product. A second table lists special additive products and their compatibility with various polymers and rubbers. The guide provides application guidelines and characteristics for selecting the appropriate release coating or additive for different manufacturing applications.
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.
This document provides an overview of Monsanto's strategy and financial performance. It discusses how Monsanto is positioned for growth through 2022 by focusing on innovation and expanding its seed and trait portfolio globally. Key points include:
- Monsanto has grown its gross profit and ongoing EPS significantly from 2004-2008 through its seeds and genomics segment, driven by innovative solutions and seed share gains.
- Its seed base and portfolio of patented traits have created unmatched capabilities in major crops like corn, soybeans, and cotton.
- Brands like DEKALB and ASI are gaining share in corn as investment in breeding delivers yield advantages over competitors.
- Triple-stack corn trait penetration exceeded expectations in 2008
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.
Fifth Third Bancorp reported third quarter earnings per share of $0.76, an increase of 9% from the prior year. Earnings were impacted by a $0.02 per share charge from adopting a new accounting standard. Excluding this, earnings were $0.77 per share. Revenue increased due to strong loan and deposit growth as well as higher fees. Expenses rose 3% from increased spending on sales force expansion and infrastructure investments. Credit quality modestly improved with lower net charge-offs and stable non-performing assets. The company reiterated its positive outlook for the remainder of 2003 and into 2004.
Fifth Third Bank is a top 15 US bank by assets and market capitalization with over $116 billion in assets and over 2,300 ATMs across 12 states. The presentation discusses Fifth Third's increasing net interest income, with 3Q08 results showing 41% year-over-year growth and a net interest margin of 4.24%. Fee income has also grown steadily, with particular increases in payment processing, deposit service charges, corporate banking, and mortgage banking. Financial technology processing services has emerged as a key growth engine for noninterest revenue.
Virgin Media reported its second quarter 2008 results, showing growth in operating cash flow and continued low customer churn. Key highlights included a 5.3% increase in total subscribers to over 12 million, operating cash flow growth of 5.4%, and record triple-play penetration of over 53%. However, the company also reported a net loss of £333 million due to a non-cash goodwill impairment charge related to its mobile segment. The CEO commented that the company has strengthened its customer base and network capabilities while reducing costs, and will continue focusing on next-generation broadband and on-demand TV to drive future growth.
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.
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 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.
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 discusses Robb Fraley's presentation at the Goldman Sachs Tenth Annual Agricultural Biotech Forum on February 14, 2006. It provides an overview of Monsanto's breeding and biotechnology research and development pipelines. Key points include: Monsanto had a milestone year in 2005 with 15 pipeline projects advancing phases and 10 new projects added; corn and cotton breeding programs showed strong yield improvements; and the acquisition of Seminis expanded Monsanto's vegetable seed business globally. The presentation outlines Monsanto's strategy to develop second and third generation biotech traits to upgrade its commercial portfolio.
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.
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.
- 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.
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 is acquiring CanaVialis S.A. and Alellyx S.A., two Brazilian sugar cane breeding and technology companies, representing an R&D platform investment in sugar cane. Sugar cane is grown on nearly 50 million acres worldwide, with Brazil being the largest market and producer. The acquisition will provide Monsanto access to the largest private sugar cane breeder and its partner for developing Bt and Roundup Ready sugar cane traits, allowing Monsanto to leverage its experience in row crops for sugar cane breeding and biotechnology over the long term.
The document discusses Monsanto's 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.
Strategies of investment in sps along the value chainABRAHAM SARFO
This document summarizes a regional policy dialogue on meeting requirements relating to technical regulations and sanitary and phytosanitary (SPS) measures along the agricultural value chain in Africa. It discusses strategies for prioritizing SPS investment along the value chain, including taking a value chain approach to ensure food safety standards consider risks throughout production and distribution. Key points addressed are coordinating standards compliance, analyzing costs and benefits of standards adoption, and supporting small producers to meet formal market requirements through quality management systems and enterprise capacity building.
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.
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.
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 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.
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 discusses Robb Fraley's presentation at the Goldman Sachs Tenth Annual Agricultural Biotech Forum on February 14, 2006. It provides an overview of Monsanto's breeding and biotechnology research and development pipelines. Key points include: Monsanto had a milestone year in 2005 with 15 pipeline projects advancing phases and 10 new projects added; corn and cotton breeding programs showed strong yield improvements; and the acquisition of Seminis expanded Monsanto's vegetable seed business globally. The presentation outlines Monsanto's strategy to develop second and third generation biotech traits to upgrade its commercial portfolio.
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.
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.
- 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.
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 is acquiring CanaVialis S.A. and Alellyx S.A., two Brazilian sugar cane breeding and technology companies, representing an R&D platform investment in sugar cane. Sugar cane is grown on nearly 50 million acres worldwide, with Brazil being the largest market and producer. The acquisition will provide Monsanto access to the largest private sugar cane breeder and its partner for developing Bt and Roundup Ready sugar cane traits, allowing Monsanto to leverage its experience in row crops for sugar cane breeding and biotechnology over the long term.
The document discusses Monsanto's 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.
Strategies of investment in sps along the value chainABRAHAM SARFO
This document summarizes a regional policy dialogue on meeting requirements relating to technical regulations and sanitary and phytosanitary (SPS) measures along the agricultural value chain in Africa. It discusses strategies for prioritizing SPS investment along the value chain, including taking a value chain approach to ensure food safety standards consider risks throughout production and distribution. Key points addressed are coordinating standards compliance, analyzing costs and benefits of standards adoption, and supporting small producers to meet formal market requirements through quality management systems and enterprise capacity building.
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.
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OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
2. Forward-Looking Statements
Certain statements contained in this presentation, such as statements concerning the company's anticipated
financial results, current and future product performance, regulatory approvals, currency impact, business and
financial plans, the outcome of contingencies and other non-historical facts are quot;forward-looking statements.quot;
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: the company's exposure to various contingencies,
including those related to Solutia Inc., litigation, intellectual property, regulatory compliance (including seed
quality), environmental contamination and antitrust; successful completion and operation of recent and proposed
acquisitions; fluctuations in exchange rates and other developments related to foreign currencies and economies;
increased generic and branded competition for the company's Roundup herbicide; the accuracy of the company’s
estimates and projections, for example, those with respect to product returns and grower use of our products and
related distribution inventory levels; the effect of weather conditions and commodity markets on the agriculture
business; the success of the company’s research and development activities and the speed with which regulatory
authorizations and product launches may be achieved; domestic and foreign social, legal and political
developments, especially those relating to agricultural products developed through biotechnology; the company’s
ability to successfully market new and existing products in new and existing domestic and international markets;
the company’s ability to obtain payment for the products that it sells; the company's ability to achieve and maintain
protection for its intellectual property; the company's ability to fund its short-term financing needs; and other risks
and factors detailed in the company's filings with the U.S. Securities and Exchange Commission. 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 revise or update any forward-looking statements or
any of the factors that may affect actual results, whether as a result of new information, future events or otherwise.
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 RReady2Yield, Bollgard, Bollgard II, YieldGard, Monsanto Imagine, Vine
Design, Asgrow, DEKALB, Monsanto Choice Genetics, Posilac, Processor Preferred, Vistive and Seminis, Seminis
Vegetable Seeds, Royal Sluis, Petoseed, and Bruinsma are trademarks owned by Monsanto Company and its
wholly-owned subsidiaries and are italicized the first time they appear in this presentation.
3
4. OVERVIEW
Monsanto Has Established Strategic Platforms in
High-Value Crops
SEED & TRAIT CROP PLATFORMS
CROP PLATFORMS
CORN
Licensed
d
de AS
CORN
ran I
OILSEEDS
B
Biotechnology
COTTON
Breeding
I
AS
Genomics
VEGETABLES
VEGETABLES
Licensed
OILSEEDS
Branded
TECHNOLOGY PLATFORMS
Germplasm
GERMPLASM
GR
d
de
GENOMICS
G
ran B
E
BREEDING
BR
Bra d
COTTON
nse
nde
Lice
d
BIOTECHNOLOGY
B I
4
5. TECHNOLOGY LEADERSHIP
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 PHASE III PHASE IV LAUNCH
BREEDING
G IT PLATFORM
COMMERCIAL
ANALYTICS
GENOMICS
MARKERS
Germplasm
R
BIOTECHNOLOGY
5
6. TECHNOLOGY LEADERSHIP
Breeding is the Research Engine that Brings Commercial
Value to Germplasm
Molecular Markers
CREATING VALUE
Genetic dissection of phenotype: allowing breeders to understand
what genes control desired phenotypes
B Efficiency of selection: improving the efficiency and scale of
Breeding
screening for key characteristics
R Increased genetic gain: driving improvement in overall gain in
key characteristics, such as yield
Improved conversion: helping get new biotech traits into the
elite germplasm quickly for improved market opportunity
CONCEPT:
Optimizing germplasm variation: helping integrate favorable
Molecular markers
genetic variation from non-elite germplasm
bring distinct value
to breeding
Pre-selection: allowing breeders to eliminate the least-desirable
programs
germplasm quickly to focus on the best set of germplasm
Predictive associations: allowing breeders to identify superior
crosses from elite germplasm pools
6
7. TECHNOLOGY LEADERSHIP
Industry’s Most Diverse Genetic Pool in Corn Creates New
Opportunities for Monsanto U.S.
KEY MARKET ACRES BRAZIL ARGENTINA
BRAND LICENSED ASI
Corn Germplasm
80M 30M 6M
AVAILABLE MARKET
CREATING VALUE
14% 33% 4% 35% 49%
PERCENT PENETRATED
Monsanto has the largest private international collection of corn
• Value measured in
germplasm, spanning 6 continents, 3 temperature zones, and 36
market share
gains; U.S. acquired breeding programs
branded seed
share with 4th year No other company can make as many unique crosses from as many
of 1+ point gain
unique germplasm libraries as Monsanto
2004 U.S. CORN YIELD GAINS
INTERNATIONAL GERMPLASM NETWORK
UP NEXT
Monsanto Branded Competitors
• Germplasm now 220
BUSHELS PER ACRE
contributing to 3 210
channels: brands, 200
licensed and ASI
190
180
170
160
150
95 100 105 110 115
RELATIVE MATURITY (DAYS)
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
7
8. TECHNOLOGY LEADERSHIP
Monsanto’s Germplasm Reach Has Grown Significantly
Through Branded and Licensed Seeds
U.S. CORN MARKET SHARE – BRANDS AND LICENSEES
HOLDENS/CORN STATES LICENSEES
AMERICAN SEEDS, INC BRANDS
60% 53%
DEKALB AND ASGROW BRANDS
49%
50% 46%
44%
43%
40%
30%
20%
6 pt
Branded
10% Share
Growth In
4 Years
0%
2001 2002 2003 2004 2005
8
9. TECHNOLOGY LEADERSHIP
Monsanto Holds Number 1 or 2 Positions in Corn
Market Share in All Key Geographies
2005 CORN MARKET SHARE IN KEY GEOGRAPHIES
DUPONT/PIONEER
MONSANTO1
60% SYNGENTA
U.S. ASI
DOW
U.S. LICENSED
50%
40%
30%
20%
10%
0% ASIA-
EUROPE-
NORTH LATIN
PACIFIC
AFRICA
AMERICA AMERICA
Source: Monsanto estimates
1. Monsanto share is for DEKALB and Asgrow brands only
9
10. TECHNOLOGY LEADERSHIP
There is a Clear Opportunity to Drive Growth in
Emergent’s Position in Cotton Market
120% 1.4
1.35
100%
1.3
TRAIT INTENSITY INDEX
MARKET SHARE POSITION
80%
1.25
60% 1.2
1.15
40%
1.1
20%
1.05
0% 1
2002 2003 2004 2005
EMERGENT FIBERMAX
PHYTOGEN DELTA & PINE LAND
OTHERS
Source: Doane Market Research , reflects share of acres planted
10
11. TECHNOLOGY LEADERSHIP
Molecular Breeding is Used To Create New Source of
Seed for U.S. Cotton Farmers
KEY MARKET AREAS U.S.
TARGET MARKET 7M-8M
Cotton States
CREATING VALUE
PERCENT PENETRATED 0%
The capabilities and knowledge we’ve refined in bringing new corn
• Licensing fee
germplasm to the market applies in cotton as well
reflects value of top
quality germplasm, Germplasm licensed from third parties and developed through molecular
separate from value
breeding by Monsanto
of trait
Seed production under way for commercialization in 2006
• Cotton seed
currently sells for
Cotton States launching exclusively on a second-generation trait platform
average of $20 per
2004 COTTON STATES FIELD TRIALS
acre
1,600
UP NEXT
1,500
LBS LINT/ACRE
• 2006 will be first
year of sales to
1,400
farmers of Cotton
States germplasm
1,300
through licensees
1,200
COTTON STATES COMPETITIVE
VARIETIES VARIETIES
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
11
12. TECHNOLOGY LEADERSHIP
Seminis Addition to Monsanto Opens New Business and
Research Opportunities SIGNIFICANT CROPS MARKET MARKET
SHARE POSITION
Seminis Vegetable
BEANS 31% 1
CUCUMBER
Seeds
38% 1
CREATING VALUE HOT PEPPER 34% 1
SWEET PEPPER 29% 1
Seminis has the largest TOMATO 23% 1
• Vegetable seed ONIONS 25% 2
global vegetable germplasm
industry CAGR at library
4.8%
There are more “targets” for vegetable breeders to fill farmer needs and
• Fruit & vegetable
consumer quality preferences
seeds only
VEGETABLE FRESHNESS INDEX INNOVATION THROUGH BREEDING
represent approx.
3.6% of farmgate
PERCENT OF NEW
value (corn: 13.2%; PRODUCTS IN
25%
soybeans: 11.4%) COMMERCIAL
PORTFOLIO
20%
• Significant growth
opportunities in
15%
hybrid creation
10%
5%
0%
2002 2003 2004 2005F
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Early Development Adv. Development Pre-Launch
12
13. TECHNOLOGY LEADERSHIP
Molecular Breeding Can Be Applied to Seminis’ Sweet
Corn Breeding Programs
KEY MARKET POSITION WORLDWIDE
Knowledge Transfer MARKET POSITION 4
to Sweet Corn
CREATING VALUE
Immediate access to broad corn
• Breeding
germplasm base
knowledge transfer
increases potential Within 4 weeks of closing the
new product
Seminis acquisition, Monsanto
offerings
had identified 1,000 corn
• Molecular markers to help with Seminis
breeding speeds
sweet corn breeding
creation of new
hybrids
• Accelerated
genetic gains have
potential to
translate to market
share gains, higher
market value
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Early Development Adv. Development Pre-Launch
13
14. TECHNOLOGY LEADERSHIP
Biotechnology Complements Breeding to Bring Farmers
the Best Options
Biotechnology
CREATING VALUE
The use of biotechnology is an additive tool where there is a
special value to be brought that can justify the additional R&D
B investment
Biotechnology BITOECH OPPORTUNITY
Second Generation Stacked
I
• Bollgard II cotton • YieldGard Plus corn
2003
2004
• Roundup Ready Flex
• YieldGard Plus with
cotton 2006
Roundup Ready Corn 2
• Second-generation 2005
YieldGard Corn Borer
Breakthrough Platforms
corn PHASE III
• Drought-tolerant corn
• Roundup RReady2Yield PHASE I
soybeans PHASE III
• Omega-3 soybeans
Growth Opportunities PHASE II
• Roundup Ready Corn 2
2001
14
15. TECHNOLOGY LEADERSHIP
Roundup Ready Corn Acreage Expected to
Grow 25 Percent in 2006
KEY MARKET AREAS U.S. ARGENTINA
Roundup Ready TARGET MARKET 50M 5M
Corn 2
CREATING VALUE
PERCENT PENETRATED 48% <1%
Current forecast of 23-24M acres of Roundup Ready corn in
VALUE TO 50M
2005 U.S. season
ACRES
30M acres targeted in U.S. for 2006
• 2005 U.S. trait fee
of $8-$10 per acre
With European import approval for single trait, U.S. market
in Monsanto
potential is now 50M acres
branded seed for
single trait
U.S. ROUNDUP READY CORN ACREAGE GROWTH
• Total retail value of
35
incremental 20M
acres: approx. 30
MILLIONS OF ACRES
$160M-$200M
Inflection 25
Points: There
• Monsanto shares a
are new 20
portion of retail
trajectories
value with channel
15
for growth in
• Value boosted by
Roundup 10
incremental
Ready Corn
Roundup use 5
0
1998 1999 2000 2001 2002 2003 2004 2005F 2006F
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
15
16. TECHNOLOGY LEADERSHIP
Drought Pressure in Central Corn Belt Demonstrating
Performance Value of YieldGard Rootworm
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
YieldGard Rootworm 5M 1M
AVAILABLE MARKET 15-20M
2005
Corn
PERFORMANCE
19% 0% 0%
PERCENT PENETRATED
ILLINOIS DROUGHT OBSERVATIONS
• With dry conditions
in the Central Corn
YieldGard
Belt, observed
Rootworm’s
yield advantage
appears to be 10-20 protection allows
bushels per acre for heartier roots
over insecticides
that can tap what
moisture exists
The difference
between
YieldGard
INSECTICIDE
TREATED-CORN
Rootworm plants
and conventional
YIELDGARD
ROOTWORM
ones is visible
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
16
17. TECHNOLOGY LEADERSHIP
Stacked Trait Growth Is Driving Corn Acceleration
%
MON U.S. BIOTECH
2005
TRAIT ACRES STACKED MARGIN OPPS
U.S. Biotech Trait CORN 33% 61M ACRES
46.5M
Intensity Index
CREATING VALUE
COTTON 66% 17.9M ACRES
10.8M
VALUE CREATED SOYBEANS -- 67.2M ACRES
67.2M
WITH 3 TRAITS
2005
1.6
• 2005 saw launch of
first triple-stacked
1.65
product, YieldGard
1.5
Plus with Roundup
AVERAGE TRAITS PER ACRE
Ready Corn 2
1.4
ACRES IN MILLIONS
• Average per-acre 1.3 1.33
opportunity:
Seed $30 1.2
RR $10
1.1
YG Corn Borer $5
YG Rootworm $15
1
1.0
TOTAL $60
6
7
8
9
0
1
2
3
F
F
F
99
99
99
99
00
00
00
00
4
5
6
00
00
00
1
1
1
1
2
2
2
2
2
2
2
SOYBEANS (1 TRAIT)
CORN (3 TRAITS)
COTTON (2 TRAITS)
17
18. TECHNOLOGY LEADERSHIP
Continued Innovation in R&D is Translating to Significant
Activity at Every Phase of the Pipeline
The projects that advance in the pipeline advance more rapidly and have a higher
prospective probability of commercial success
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCHED
Proof of Concept Proof of Concept Adv. Development
Early Development Pre-Launch
17 TRAIT
TESTING TO REGULATORY & SELECTING
DETERMINGING
IDENTIFYING
PRODUCTS +
SELECT COMMERCIAL COMMERCIAL
WHICH LEADS
GENES & TRAITS
ANNUAL
COMMERCIAL DEVELOPMENT PRODUCTS
SHOW PROMISE
AS TARGETS
GERMPLASM
CANDIDATES TRACKS
•ROUNDUP READY
BIOTECH
SOYBEANS,
COTTON,
CANOLA & CORN
SEED
PERFORMANCE
TRAIT SCREENS •BOLLGARD &
BULK UP
SCREENS BOLLGARD II
COTTON
VALIDATING REGULATORY BUSINESS
HIGH VOLUMES OF IDENTIFY LEADS •COTTON STACKS
CONCEPTS STUDIES STRATEGY
GENES
•YIELDGARD
EXPANDED FIELD COMMERCIAL MARKETING HAND
TRAITS IN MODELS
TESTING FOR CORN BORER
TRIALS PREP OFF
& CROPS
GENE FUNCTION •YIELDGARD
ROOTWORM
•YIELDGARD PLUS
BREEDING
BREEDING TRAITS COMMERCIAL SEED •CORN STACKS
TRAIT SCREENS FIELD TRIALS
INTO CROPS PERFORMANCE BULK UP •VISTIVE LOW-
TESTING LINOLENIC
GENETIC MAPPING VALIDATE MOVE TRAITS TO MARKETING HAND
SOYBEANS
FOR BREEDING MAPPING RESULTS COMMERCIAL OFF
DETERMINE
•ASGROW AND
OPPORTUNITIES GERMPLASM MARKET FIT
VALIDATE DEKALB
GENETIC GAINS BREEDING SOYBEAN
PROGRAM VARIETIES &
CORN HYBRIDS
18
19. TECHNOLOGY LEADERSHIP
Feedback from 2005 Field Testing Indicates Continuing
Momentum in Pipeline Opportunities
EARLY FEEDBACK FROM 2005
ANNUAL R&D CYCLE: SEEDS & TRAITS
FIELD WORK
December
No
The steady progress of second-
ary ve
PORTFOLIO mb
nu
Ja er
generation biotech traits from the
UPDATE
pipeline continues
DATA
PRIORITY
ary
Oc
Roundup Ready Flex cotton
ANALYSIS
UPDATE
bru
tob
Fe
er
Second-generation YieldGard Corn Borer
corn
Roundup RReady2Yield soybeans
September
DATA
March
Our healthier oils platform is
COLLECTION
generating good commercial
opportunity
Ap
First products of our Renessen JV are
st
ril
gu
Au
nearing commercialization
FIELD TESTING
Significant progress on longer horizon
Ma
y
ly
projects as viable leads are advancing
Ju
for drought tolerance in three crops
June
19
20. TECHNOLOGY LEADERSHIP
Roundup Ready Flex Launch To Be Largest in 10-Year
History of Biotech Traits
KEY MARKET ACRES U.S. AUSTRALIA
Roundup Ready AVAILABLE MARKET 10-15M 0.5-0.8M
2005
Flex Cotton
PERFORMANCE
0% 0%
PERCENT PENETRATED
• Value reflects Anticipated largest trait launch of 2-3 million acres, pending final
greater approvals
convenience and
enhanced weed 80-90% of Roundup Ready Flex to be stacked with Bollgard II
control; lifts the
8 cotton seed companies currently breeding trait into varieties
value of the
Roundup Ready
trait
The Roundup Ready
UP NEXT
Flex cotton trait will
be coupled with our
• 2006 commercial Stoneville brand and
launch, expected our Cotton States
on 2-3 M acres 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
20
21. TECHNOLOGY LEADERSHIP
Testing of Second-Generation Roundup RReady2Yield
Soybeans Indicates Extended Control
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
Roundup RReady2Yield 70M 50M 30M
AVAILABLE MARKET
2005
Soybeans
PERFORMANCE
0% 0% 0%
PERCENT PENETRATED
Identified lead event during agronomic and tolerance trials during the
• Yield improvement
of 5+ bushels per 2004 U.S. field season.
acre in 2004 field
Second-generation testing indicates improved tolerance under extended
trials
spray conditions
• Predicted added
2005: IN THE FIELD
value: $19-27 per
FIELD TRIAL YIELD
acre
ROUNDUP
ROUNDUP READY
RREADY2YIELD
SOYBEANS
SOYBEANS
UP NEXT 65
• 2005 field trial data
60
will support
BU/ACRE
upcoming
regulatory
55
submission
50
SPRAY SPRAY SPRAY
TIME 1 TIME 2 TIME 1&2
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
21
22. TECHNOLOGY LEADERSHIP
Drought Stress Tolerance To Be Family of High-Value
Traits in Multiple Crops U.S. AFFECTED
CORN, COTTON, SOY
ACREAGE
MARKET SEGMENTS
Drought-Tolerant
CONSITENT DROUGHT
13-16M
STRESS (WESTERN US)
2005
Family of Traits
PERFORMANCE REDUCED IRRIGATION 20M
COSTS
30-50M
DROUGHT “INSURANCE”
• Successful BROAD-ACRE WATER USE 128-148M
greenhouse testing EFFICIENCY
of cotton
DROUGHT-TOLERANT CORN
• Continued field
testing of corn and PHASE I
2 YEARS OF FIELD TRIALS
soybeans
DROUGHT-TOLERANT
UP NEXT
SOYBEANS
PHASE I
• Identifying FIRST YEAR OF FIELD TRIALS
potential
commercial leads
as field testing
DROUGHT-TOLERANT
continues
COTTON
PHASE I
FIRST YEAR OF GREENHOUSE
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
22
23. TECHNOLOGY LEADERSHIP
Drought Stress Tolerance To Be Family of High-Value
Traits in Multiple Crops U.S. AFFECTED
CORN MARKET
ACREAGE
SEGMENTS
Drought-Tolerant
CONSITENT DROUGHT
10-13M
STRESS (WESTERN US)
2005
Corn
PERFORMANCE REDUCED IRRIGATION 12M
COSTS
30-50M
DROUGHT “INSURANCE”
Yield protection on all acres against
• Pricing will reflect
BROAD-ACRE WATER USE
yield gains in all 70-80M
water deficits EFFICIENCY
three markets;
Yield enhancement through improved water use on drought-prone acres and
value of higher
cost savings on irrigated acres
yields shared with
farmer
More than two leads have demonstrated positive traits in corn field trials
EXAMPLES OF o
40 34 32 C
POSITIVE TRAITS
OBSERVED UNDER
UP NEXT
WATER STRESS:
• Enhanced growth
• Begin to identify
potential • Reduced leaf
commercial leads rolling
through additional
• Reduced leaf
testing
temperature CONTROL WITH GENE CONTROL WITH GENE
• Enhanced yield
REDUCED LEAF REDUCED LEAF
ROLLING TEMPERATURE
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
23
24. TECHNOLOGY LEADERSHIP
Nitrogen Use Is Second Only to Water Use as an
Opportunity in Agriculture
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
Higher-Yielding TBD TBD TBD
AVAILABLE MARKET
2005
Corn
PERFORMANCE
0% 0% 0%
PERCENT PENETRATED
• Functional hits from Increased yield TOLERANCE TO LOW NITROGEN
genomics screens
achieved through
are advanced to crop
enhanced nitrogen
testing for product
prioritization uptake and
utilization
• 21 leads are under
testing in 5 locations
Potential to reduce
in 2005
fertilizer inputs WITH GENE
CONTROL WITH GENE
CONTROL
UP NEXT
DARKER GREEN LEAVES
DARKER GREEN LEAVES
• Multi-location field
studies of leads
WITH GENE
CONTROL WITH GENE
CONTROL
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
24
25. TECHNOLOGY LEADERSHIP
High Lysine Enhances Animal Feed,
Shifts Value to Seed
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
Renessen High Lysine Corn: 4M 1M 4M
AVAILABLE MARKET
2005
First and Second Generations
PERFORMANCE
0% 0% 0%
PERCENT PENETRATED
• Completing Improved amino acid balance; increased total energy
regulatory review
Two-product step-change in lysine content
UP NEXT LYSINE TOTALS IN TESTING
2ND GENERATION
5000
• Currently
identifying brand
MINIMUM
4000
name and
TARGET
marketing position
3000
• Hopeful to have
technology in
1ST GENERATION
2000
farmers’ fields by
2007
MINIMUM
1000
TARGET
0 CONTROL SOUTH US RESULT CONTROL EVENT 1 EVENT 2
AMERICA
RESULT
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
2nd GENERATION 25
26. TECHNOLOGY LEADERSHIP
Vistive Is A Family of Improved Oils for Food Uses
Healthier Oils:
Family of Traits
CREATING VALUE
STANDARD SOYBEAN FAMILY
CURRENTLY NOT OPTIMAL FOR
MOST PROCESSED FOOD
VISTIVE LOW-LINOLENIC SOYBEANS
APPLICATIONS
TARGET: LINOLENIC ACID – MORE STABLE, NO TRANS FATS
LINOLENIC ACID LAUNCH
500K ACRES COMMERCIAL
VISTIVE II SOYBEANS
OLEIC ACID TARGET: INCREASED OLEIC FOR HEALTH
LINOLEIC PHASE 3
ACID
VISTIVE III SOYBEANS
STERATE &
TARGET: MORE STABLE, NO TRANS, LOWEST SATS, LIKE
PALMITATE ‘OLIVE OIL’
PHASE 2
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
26
27. TECHNOLOGY LEADERSHIP
Vistive Is First of Family of Improved Oils for Food Uses
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
Vistive Low- 5M TBD TBD
AVAILABLE MARKET
2005
Linolenic Soy
PERFORMANCE
2% 0% 0%
PERCENT PENETRATED
Vistive was developed by screening Monsanto’s germplasm and using
• Successful launch
advanced tools in breeding, effectively launching in 36 months from concept
of Asgrow
AG2421V and
Oil sold out from 2005; To be in consumer products in late 2005
AG2321V
• Approximately In 2006, additional brands and varieties will expand
100,000 acres the maturity zones and geographic reach of Vistive
planted in Iowa
UP NEXT
2006 2005
2005
500K acres 100K acres
2006
10+ seed brands 1 seed brand
800+ Farmers in Eastern
4+ processors 2 processors
and Northeastern Iowa
planted Vistive soybeans
this year
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
27
28. TECHNOLOGY LEADERSHIP
Vistive Offers the Ability to Declare Zero Trans Fats on
Food Labels
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
Vistive Low- 5M TBD TBD
AVAILABLE MARKET
Linolenic Soy
CREATING VALUE 2% 0% 0%
PERCENT PENETRATED
EXAMPLE: USE IN TORTILLA CHIPS
• Vistive provides
opportunity to
declare zero trans fat 100% PARTIALLY
100% PALM OIL
HYDROGENATED
and use the nutrient
100% VISTIVE
SOYBEAN OIL
content claims of
“Low in saturated
Nutrition Facts Nutrition Facts Nutrition Facts
fat, contains 7 g of
Tortilla Chips (Plain, white corn) Tortilla Chips (Plain, white corn) Tortilla Chips (Plain, white corn)
total fat per serving” Serving Size – 1 0z. (28 g) Serving Size – 1 0z. (28 g) Serving Size – 1 0z. (28 g)
and “Reduced Amount Per Serving Amount Per Serving Amount Per Serving
Saturated Fat” Calories 140 Calories 140 Calories 140
Calories from Fat 60 Calories from Fat 60 Calories from Fat 60
• Even in Palm Oil % Daily Value % Daily Value
% Daily Value
substitution, trans
Total Fat 7 g 11% Total Fat 7 g 11% Total Fat 7 g 11%
fat eliminated at the
Saturated Fat 1.5 g 8% Saturated Fat 3 g 15% Saturated Fat 1 g 5%
expense of a 1.5 Trans Fat 2 g Trans Fat 0 g Trans Fat 0 g 0%
g/serving increase in
Cholesterol 0%
Cholesterol 0% Cholesterol 0%
saturated fat.
Sodium 120 mg 5% Sodium 120 mg 5% Sodium 120 mg 5%
Total Carbohydrate 19 g 6% Total Carbohydrate 19 g 6% Total Carbohydrate 19 g 6%
Dietary Fiber 2 g 8% Dietary Fiber 2 g 8% Dietary Fiber 2 g 8%
Sugars 0 g Sugars 0 g Sugars 0 g
Protein 2 g 4% Protein 2 g 4% Protein 2 g 4%
28
29. TECHNOLOGY LEADERSHIP
Breeding Breakthrough Improves the Taste and Mouth-
Feel of Soy-Based Foods
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
Improved-protein <1M TBD TBD
AVAILABLE MARKET
2005
soybeans for food
PERFORMANCE
0% 0% 0%
PERCENT PENETRATED
Improves taste and mouth-feel with consumer applications in
• Yield trials of
beverages and meat alternatives; Improved taste for nutritional bars
commercial variety
candidates
Initiating seed production and identifying additional varieties for
successful
commercialization and validating performance in food products
IMPROVED HBC = IMPROVED SOLUBILITY PROFILE
LOWER AFFINITY FOR SOLUBILITY & Vinton 81
ODORS, CREATES EMULSIFYING Commodity
BALANCED FLAVORS (SIMILAR TO MON HBC
UP NEXT HBC LESS BINDING OF MILK) BETTER
OFF-FLAVORS
Casein
TASTE AND 0 2 4 6 8 10 12
TEXTURE
• Seed bulk up to
Bound 2 pentyl pyridine
25 Median particle diameter (microns)
Glycinin
begin for
moles/mole protein)
20
HBC IMPROVED GELLING (FIRM)
commercialization 15
RETAINS
MOISTURE IN High BC
10
β-conglycinin MEAT PRODUCTS,
5
CREATING FIRM & Control
0
0.3 0.6 0.9 1.3 1.6 1.8 2.1
TENDER TEXTURE 0 500 1000 1500 2000
2 pentyl pyridine (mM)
Elastic modulus (Pa)
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
29
30. TECHNOLOGY LEADERSHIP
Breeding Breakthrough Improves the Taste and Mouth-
Feel of Soy-Based Foods
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
Improved-protein <1M TBD TBD
AVAILABLE MARKET
soybeans for food
CREATING VALUE
0% 0% 0%
PERCENT PENETRATED
EXISTING SOYBEANS PRODUCT CONCEPT
BBreeding Β-CONGLYCININ
MUTAGENESIS Β-CONGLYCININ
10% 16-22%
R
GLYCININ GLYCININ
14% 0-6%
Gy1-5 Genes
O
A1 A2 B1 B2 C1 C2D1aD1b D2 E F G HI J KL MN
CONCEPT:
Gy5
Develop High Gy3
Beta-Conglycinin
Gy2
Gy7
Soybeans Using Gy1 Gy4
Markers to Select
for Altered Protein
Levels
30
31. TECHNOLOGY LEADERSHIP
Omega-3 Biofortification Could Be a Food Industry
Breakthrough
KEY MARKET ACRES U.S. BRAZIL ARGENTINA
TBD TBD TBD
AVAILABLE MARKET
Omega-3 Oilseeds
2005
PERFORMANCE
0% 0% 0%
PERCENT PENETRATED
American Heart Association, American Diabetic Association, and 1,600+
• Field tests in U.S.
research studies support health benefits
and Argentina
showed SDA levels
Enhanced stability; Best applications in refrigerated or frozen foods or
at product concept
as animal feed for Omega-3 enriched poultry or pork
with good
agronomic
OMEGA-3 (SDA LEVELS) IN SOYBEAN FIELD TRIALS
performance
25
FATTY ACID WT %
TARGET
20
UP NEXT
15
• Continued testing
to confirm
commercial 10
opportunity
5
0
OMEGA-3 EVENTS IN FIELD TESTING
DISCOVERY PHASE I PHASE III
PHASE II PHASE IV LAUNCH
Proof of Concept Adv. Development
Early Development Pre-Launch
31
32. GROWTH OPPORTUNITIES
Pipeline Is Valued Across Market Opportunities and Crops
PRICING VALUE MATRIX
4
3
2
HIGH PER-ACRE ($11-$100+)
OMEGA-3 SOYBEANS
BOLLGARD II COTTON (AUSTRALIA)
IMPROVED-PROTEIN SOYBEANS FOR FOOD
PROCESSOR PREFERRED
ELITE GERMPLASM
BOLLGARD II COTTON
BOLLGARD II COTTON (INDIA) ROUNDUP
ROUNDUP READY + FLEX COTTON
YIELDGARD READY
ROUNDUP READY 2ND GENERATION
ROOTWORM SOYBEANS
+ FLEX COTTON HIGH-LYSINE CORN
(AUSTRALIA) 2ND GENERATION ROUNDUP
IMPROVED-ENERGY CORN III
READY SOYBEANS
HIGHER-YIELDING CORN
SMALL-ACRE (0-10 MILION)1 LARGE-ACRE (11-100 MILLION+)1
DROUGHT ROUNDUP READY CORN
TOLERANT
COTTON
LOW PER-ACRE ($0-$10)2
VISTIVE ZERO SATURATED FAT + MID-
IMPROVED-PROTEIN OLEIC + LOW-LINOLENIC SOYBEANS HIGHER-
SOYBEANS FOR FEED
YIELDING
YIELDGARD CORN BORER
VISTIVE MID-OLEIC + LOW-
SOYBEANS
LINOLENIC SOYBEANS
VISTIVE SOYBEANS DROUGHT
TOLERANT
IMPROVED-OIL
CORN
SOYBEANS FOR
PROCESSING
HIGH-LYSINE CORN
DROUGHT TOLERANT
1 2
SOYBEANS
Pipeline projects denoted in white text and represent global value; Commercial products denoted in gold and are U.S.-only, unless otherwise indicated.
1. “Acre Potential” represents the maximum acre penetration by the trait individually and as a stacked trait in the three-year span during its peak.
2. “Per-Acre” premium represents the per-acre average value in the three-year span during the trait penetration peak.
32