National Agri-Marketing Association
NAMA Website
Upcoming Events
Agri-Marketing Conf
Best of NAMA 2018
Member Directory

Source: Syngenta news release

*Newly formed Syngenta Group delivers a strong first half year despite challenging market conditions

*Group sales $12.0 billion, 2 percent higher than H1 2019 (6 percent at CER2) despite a $0.5 billion currency headwind

*EBITDA of $2.2 billion, 7 percent higher than H1 2019, (20 percent at CER)

*All four business units recorded underlying sales growth
COVID-19 impacts well managed; supply maintained throughout

*Conditions still challenging in H2 2020, but Group stays committed to achieve growth in 2020
27 August 2020, Basel / Switzerland

Syngenta Group Co., Ltd. today announced the Group's first half year results after its formation on June 18, 2020. The Group increased sales by 2 percent to more than $12 billion compared to the same period last year. This corresponds to growth of 5 percent on an underlying basis adjusted for one-off change of control royalty income in Seeds and the impact of mandatory ADAMA and Sinofert production site relocations in China. All four business units, Syngenta Crop Protection, ADAMA, Syngenta Seeds and Syngenta Group China, increased their underlying sales in comparison to the previous year. Syngenta Group managed the impacts of COVID-19 well in the first half of 2020, maintaining supply throughout despite the challenging market environment and the need for innovative solutions to overcome logistical difficulties.

Erik Fyrwald, Syngenta Group CEO: "The last few months have been a very challenging time for everybody on this planet. I am pleased that our team delivered strong performance across all of Syngenta Group's business units despite the COVID-19 pandemic, low grain prices and significant currency headwind. This demonstrates that our strategy to deliver the broadest range of sustainable, innovative, and competitive products and services to farmers worldwide is robust, even in these extraordinary times. Our goal is to be a supplier that our customers can always rely on despite any challenges."

Chen Lichtenstein, Syngenta Group CFO: "We achieved a robust first half with strong sales performance supported by cost discipline. For the second half of the year, we will continue to build on our positive momentum."

The sector full year outlook remains challenging, with low grain prices and currency headwinds in developing markets. Further impacts of the COVID-19 pandemic add to second half uncertainty. The Syngenta Group remains committed to achieving underlying growth and leadership in sustainable agricultural innovation.

1The results presented in this release are a pro-forma sum of the business units in the Syngenta Group including Yangnong Chemical, eliminating the double count of sales in China reported in Syngenta Crop Protection, ADAMA, Syngenta Seeds and also in Syngenta Group China.

To read the entire report click here.

Search News & Articles

Proudly associated with:
American Business Media Canadian Agri-Marketing Association National Agri-Marketing Association
Agricultural Relations Council National Association of Farm Broadcasters American Agricultural Editors' Association Livestock Publications Council
All content © 2020, Henderson Communications LLC. | User Agreement