Growth driven by demand for advanced agricultural products and services
Syngenta Group announced financial results for the fourth quarter and full year 2022. Syngenta Group sales for full year 2022 were $33.4 billion, up $5.2 billion or 19 percent, year-on-year. All business units saw double-digit growth, benefitting from high demand for products and services designed to promote yield increases and sustainable farming methods. 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.
FY EBITDA grew by $1.0 billion, an increase of 20 percent from prior year, to an all-time high of $5.6 billion. EBITDA margin increased 0.3 percentage points to 16.7 percent, assisted by operational leverage and productivity.
In Q4 2022, EBITDA was lower at $0.9 billion when compared to a strong Q4 2021. The quarter was impacted by higher costs and increased provisions due to macro-economic uncertainties.
The Group promoted regenerative agriculture practices by advancing innovative sustainable technologies that address challenges posed by climate change and improve soil health while helping protect biodiversity and water quality.
Syngenta Group continues rapid growth in China. In 2022, Syngenta Group China’s MAP sales grew 76 percent to $3.1 billion as the number of MAP centers increased by 136 to a total of 628 centers. Average sales per center were up 28 percent year-on-year. The MAP offering helps farmers modernize their farms sustainably, while boosting crop quality and farm profitability.
The Group’s digital solutions have been adopted on 218 million acres globally with high demand from farmers in key markets.
Synergy-driven sales in 2022 almost doubled to $1.3 billion, with a profit contribution of $0.5 billion, up 81 percent.
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