Syngenta Group, a leading provider of agricultural science and technology has announced strong financial results for the second quarter and first half of 2022. The group’s Q2 sales increased 24 per cent to $9.2 billion, up $1.8 billion year-on-year. Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for the same period increased 39 percent to $1.7 billion, driven by launches of innovative products and services, increased productivity and prices that offset higher costs.
The company’s H1 sales stood at $18.1 billion, up $3.7 billion, 25 percent year-on-year. EBITDA for the same period was recorded as $3.5 billion, 32 percent higher year-on-year.
Syngenta Group’s double-digit sales growth in the second quarter and the first half of 2022 was backed up by strong demand for the company’s products and services that help farmers successfully grow crops to address global food security and mitigate the effects of climate change by providing healthy, nutritious, and affordable food.
The Switzerland-based company continued to promote the transition to a regenerative food production system, playing its part by accelerating innovation to nurture and restore soil health, biodiversity, climate and water systems, while enhancing productivity and farmer economics. Further, Syngenta Group is working with other companies in the agriculture value chain, including food companies and retailers, to progress regenerative agriculture.
Syngenta Group China delivered strong growth with a total sales of $5.3 billion in H1 2022. The sales of Modern Agriculture Platform (MAP) nearly doubled to $1.8 billion, thus surpassing its sales for the year 2021. During the same period, the group’s China arm opened 48 new MAP centers, expanding the company’s capabilities to serve farmers. The average sales per center of the 540 MAP centers across China were up 38 per cent year-on-year, helping farmers increase their crop quality and yield while lowering environmental impact.
The EBITDA margin of Syngenta Group improved by 1.1 percentage points from a year earlier to 19.5 percent in H1 2022. Synergy-driven sales in the first six months more than doubled to $0.7 billion, with a profit contribution that increased to $0.3 billion.
