Mar 23, 2023Ag products, services fuel record Syngenta sales
Syngenta Group is crediting demand for advanced agricultural products and services for the company’s record sales.
In FY 2022, Syngenta Group sales were $33.4 billion, a growth of $5.2 billion, and up 19% from the prior year, according to a news release.
In 2022, Syngenta Crop Protection division sales were $16.3 billion, up 21% from 2021. Syngenta’s ADAMA global crop protection division saw $6.7 billion in sales, up 16% from the previous year. Syngenta Seeds division sales were $4.7 billion, an increase of 14% 2021.
“All business units saw double-digit growth, benefitting from high demand for products and services designed to promote yield increases and sustainable farming methods,” Syngenta officials wrote in the release. “Full year EBITDA increased 20 percent to an all-time high of $5.6 billion. Fourth quarter sales were $7.5 billion, up 4 percent compared to a strong fourth quarter
in 2021. As previously indicated, farmers accelerated their purchases earlier in the year due to supply concerns, moderating fourth quarter growth. The Group continued to maintain higher prices necessary to offset elevated raw material and other costs.”
Syngenta promoted regenerative agriculture practices by advancing new sustainable technologies that address challenges posed by climate change and improve soil health while helping protect biodiversity and water quality, according to the release.
As one of the world’s largest agricultural technology and inputs companies, Syngenta’s roots go back more than 250 years. With more than 57,000 employees in more than 100 countries, the company strives to transform food production through regenerative agriculture, a science-driven, technology-enabled approach to improve soil, deliver high productivity and high-quality food, help fight climate change and restore lost biodiversity, according to the release.
Read more about Syngenta’s financials here.