Delivering breakthrough innovation to help
farmers safely, sustainably feed and fuel the world
INDIANAPOLIS, June 4, 2024
/PRNewswire/ -- Five years ago, Corteva, Inc. launched as a
public company with one mission: to consistently deliver
cutting-edge solutions to help farmers feed and fuel the world.
Since then, the company has helped farmers increase their
yields—grow more food—by ramping up innovative products,
including: Enlist E3®[1] soybeans, the #1 soybean
trait system in the U.S.; Vorceed® Enlist® corn, which better
protects against corn rootworm; proprietary winter canola hybrids
to help meet the growing demand for biofuels while providing
farmers with an additional revenue source; Reklemel™ active, a
first-of-its-kind, selective nematicide that protects crops and
maintains a healthy balance of beneficial organisms in the soil;
Adavelt™ active, providing highly effective defense against more
than 20 diseases in more than 30 crops; and Utrisha™ N, a
biostimulant capturing supplemental nitrogen from the air.
Today, Corteva employees and senior management will commemorate
five years as a standalone company by ringing the opening bell of
the New York Stock Exchange.
"These five years of working alongside farmers and customers
have shown us that the work we do at Corteva has never been more
urgent or more important," said Corteva CEO Chuck Magro. "Farmers globally are facing the
growing pressures of changing weather, new pests and diseases,
while at the same time being asked to feed a rapidly growing
population – and they're being asked to do this using the same
amount of land and fewer resources. At Corteva, we are proud to
mark five years of delivering the innovation that helps farmers
around the world safely and effectively address each of these
issues."
Corteva invests nearly $4 million
in innovation every day and employs approximately 22,500 people
worldwide, with more than 5,000 dedicated to finding and delivering
next-generation innovation at over 100 research sites and 2,000
testing locations worldwide. The company serves roughly 10 million
farmers and customers in 125 countries.
Corteva's five years by the numbers:
- Surpassed $78 billion in
cumulative net sales[2]
- Increased annual operating EBITDA by over $1.3 billion (63%)[2] [3]
- Delivered total shareholder return of approximately
140% [4]
- Launched approximately 2,000 new products to help farmers
increase yields[2]
- Established over 700 agreements globally to help research
start-ups, universities and others to advance cutting-edge
agriculture technology
- Delivered technology backed by more than 7,000 added
patents
- Developed the world's only germplasm pool to produce corn
with yields over 600 bu/ac
- Met robust sustainability innovation criteria in 100% of new
solutions in product pipeline
- Through strategic partnerships, enhanced over one million acres
of land supporting biodiversity and regenerative agriculture
outcomes
To learn more, see the Corteva 2023 Annual Report and
Sustainability Report.
###
[1] The transgenic soybean event in Enlist E3®
soybeans is jointly developed and owned by Corteva Agriscience LLC
and MS Technologies, L.L.C.
[2] Financial and selected product information
reflects data from the period January 1,
2019 – December 31, 2023;
comparative financial periods use data for the year ended
December 31, 2018[3] as a
base.
[3] The operating EBITDA information in this
presentation does not conform to U.S. GAAP and is considered a
non-GAAP measure. Management uses this measure internally for
planning and forecasting, including allocating resources and
evaluating incentive compensation. Management believes that this
non-GAAP measure best reflects the ongoing performance of the
Company during the periods presented and provides more relevant and
meaningful information to investors as it provides insight with
respect to ongoing operating results of the Company and a more
useful comparison of year over year results. This non-GAAP measure
supplements the Company's U.S. GAAP disclosures and should not
be viewed as an alternative to U.S. GAAP measures of performance.
Furthermore, such a non-GAAP measure may not be consistent with
similar measures provided or used by other companies. A definition
and reconciliation for this non-GAAP measure to U.S. GAAP is
provided on the investors section of the Corteva website, along
with more information about supplemental unaudited pro forma
financial information that has been used for the years ended
December 31, 2018 and December 31, 2019, at the following link:
https://cortevaagriscience.gcs-web.com/static-files/4a35d44f-61ca-471b-bfd1-d09ee9edcfd1
[4] Cumulative data through May 31, 2024
About Corteva
Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture
company that combines industry-leading innovation, high-touch
customer engagement and operational execution to profitably deliver
solutions for the world's most pressing agriculture challenges.
Corteva generates advantaged market preference through its unique
distribution strategy, together with its balanced and globally
diverse mix of seed, crop protection, and digital products and
services. With some of the most recognized brands in agriculture
and a technology pipeline well positioned to drive growth, the
company is committed to maximizing productivity for farmers, while
working with stakeholders throughout the food system as it fulfills
its promise to enrich the lives of those who produce and those who
consume, ensuring progress for generations to come. More
information can be found at www.corteva.com.
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SOURCE Corteva, Inc.