Syngenta Switzerland Reports $17.3 Billion Revenue for First Three Quarters, Seed Sales of $3.3 Billion

en.Wedoany.com Reported - On October 30, Switzerland-based Syngenta Group released its operating results for the first three quarters. From January to September, it achieved operating revenue of $17.3 billion, down 5% year-on-year; adjusted EBITDA reached $3.2 billion, up 1% year-on-year, with the margin increasing by 1 percentage point to 18.4%. Among this, seed business sales totaled $3.3 billion, flat year-on-year in reported USD terms and down 2% at constant exchange rates.

In the seed business, field crop seed sales in Brazil increased 13% year-on-year, Latin America as a whole grew 5%, Europe grew 3%, and Asia Pacific, Middle East and Africa remained stable. Sales in North America fell 11%, and China declined 1%. The North America business was affected by business structure adjustments and a reduction in U.S. corn planted area.

Vegetable seed sales increased 2% year-on-year, and the flower business grew 4%. Syngenta launched 7 second-crop corn hybrids in Brazil, and sunflower seed sales in Latin America hit a record high. Indonesia continued to advance its biotechnology breeding business, and new corn seed products were launched in Thailand, the Philippines and India.

Crop protection business sales for the first three quarters were $9.8 billion, flat year-on-year in reported USD terms and down 4% at constant exchange rates. China grew 20%, Europe grew 6%, Brazil fell 6%, Latin America as a whole fell 14%, and North America fell 1%. Globally, more than 1,400 product registrations, renewals and label use extensions were obtained cumulatively.

Syngenta Group China business sales were $3.1 billion, down 18% year-on-year. Excluding the impact of grain trade business adjustments, China seed business sales increased 12% year-on-year, and branded crop protection business grew 16%.

In the third quarter alone, Syngenta Group achieved sales of $5.2 billion, down 10% year-on-year; adjusted EBITDA was $800 million, down 2% year-on-year. The company continued to adjust its low-margin business portfolio and advance new product research and development and regional market sales.