Syngenta is to think like a farmer to drive its next era of growth, promising "consistently to outperform the market" by taking a growers' view of its seed and farm spray products.

Mike Mack, the Syngenta chief executive, said the Swiss-based group was to merge its two divisions, seeds and crop protection, creating cost savings equivalent to $650m a year by 2015, and raising its market share by 0.5% a year over the period.

Syngenta's margin on earnings before interest, tax, depreciation and amortisation (ebitda) will rise from 21.5% last year to 22-24% over the period.

The performance improvements would be based on taking a farmer's-eye view of its range, looking at "each crop holistically and with the mindset of a grower" to gauge better the market and create a "fully integrated offer".

"We will create new business opportunities and value potential", Mr Mack said.

"Our goal is to create value for our shareholders by first creating value for our customers."

Sector convergence 

The revamp exploits what Mr Mack termed Syngenta's "unique capability" to address "the increasing complexity of the challenges facing farmers".

Seed and agrichemical products are increasingly being linked, as for example in corn seed genetically modified to be resistant to generalist glyphosate herbicides, allowing farmers to spray off weeds without damaging crops.

Although Syngenta lags US giant Monsanto in seeds, it has a far bigger range of agrichemicals.

Syngenta pledged in its new form to "create unique solutions to meet grower needs, with an integrated offer in the field drawing on out deep knowledge and understanding of agriculture".

Spray profits fall 

The revamp - which will see crop protection boss John Atkin lead Syngenta's European, African and Latin American operations, with seeds head Davor Pisk taking on North America and Asia Pacific – was unveiled as Syngenta unveiled a 0.6% slip to $1.40bn in earnings for 2010.

The decline, which reflected one-off costs, was lower than the market had expected. Analysts had forecast earnings of $1.28bn, according to a Thomson Reuters poll.

Operationally, the crop protection business, the group's largest reported a 4% fall to $2.2bn in underlying earnings, dented by strong competition in the market for generalist glyphosate weedkillers, "although volumes recovered sharply in the second half".

Many companies, such as Israel's MA Industries, Monsanto and Australia's Nufarm, have struggled in the face of price cuts in glyphosate forced by a jump in Chinese production.

Seeds sparkle 

In seeds, underlying earnings jumped 39% to $357m, on sales up 8% to $2.8bn, boosted by strong demand for genetically modified corn.

In Eastern Europe, demand for sunflower and sugar beet seeds was boosted by "an improvement in credit conditions" following the lending squeeze which started in 2008.

The group hiked its dividend by 17% to SFr17.00 a share, and also unveiled a $200m share buyback.

Syngenta shares finished at a two-year closing high of SFr320.50 in, up 4.4% on the day.