First-quarter EBITDA for 2022 increased 25 per cent to $1.9 billion
Syngenta Group has announced the results for the first quarter of 2022. First quarter sales increased to $8.9 billion, up 26 per cent. First-quarter EBITDA for 2022 increased 25 per cent to $1.9 billion. Syngenta Group China delivered strong growth with total sales of $2.4 billion in the first quarter of 2022. MAP revenues more than doubled to $650 million and continued to expand to 514 centres (149 new centers from end of Q1 2021) across China, with average MAP center sales up 57 percent year on year, serving farmers with solutions that increase yields and reduce greenhouse gas emissions.
Syngenta Group managed its supply chains in the face of procurement and increasing logistics challenges to meet grower needs. Procurement, logistics, energy and other operating cost increases and negative currency effects were offset by productivity improvements and higher selling prices across all businesses.
Synergy-driven sales increased by more than 140 per cent in Q1 year on year to more than $0.3 billion, with a profit contribution that tripled to $0.1 billion in the quarter.
In the first quarter of 2022, Syngenta Crop Protection sales grew 25 percent to $4.2 billion. Sales in Europe, Africa and the Middle East grew 8 per cent and in Asia Pacific (excluding China) 5 per cent. Driven by exceptional demand, sales in Latin America increased 70 per cent; North America 43 per cent; and China 46 per cent. Higher prices offset higher costs.
Syngenta Crop Protection acquired two next generation bioinsecticides from Bionema, a leading UK-based biocontrol technology developer. NemaTrident® and UniSpore® help combat increasing resistance and protect crops against a wide range of insects and pests.
In Indonesia, Syngenta Crop Protection launched NELVIUM, a pheromone based biological to control pests in rice. In El Salvador, the first regulatory approval was achieved for TYMIRIUM® technology which provides long-lasting protection against a broad spectrum of nematodes and diseases across all major crops.
ADAMA sales grew 28 per cent in the first quarter to $1.8 billion, helped by early demand. Sales in Europe grew 6 percent; North America 47 per cent; Latin America 28 per cent; India, Middle East and Africa remained flat; Asia Pacific (excluding China) grew 25 per cent. In China, sales doubled. Higher selling prices offset raw material, logistics and energy cost increases as well as negative currency effects.
In the first quarter of 2022, Syngenta Seeds sales grew 15 per cent to $1.4 billion. Field crop sales in Europe, Africa and the Middle East grew by 10 percent; North America 5 percent; the Asia Pacific (excluding China) 65 percent; and China 53 percent. Sales in Latin America doubled driven by higher corn sales across the region. Impacted by adverse currency effects, sales of vegetable seeds remained flat, and flowers were 3 per cent lower. Higher prices offset higher costs.
