News Syngenta
Good year for Syngenta, growth mainly in Asia
Syngenta Group's revenue last year totaled $23,1 billion. The chemical and seed group that includes Syngenta AG, ADAMA Ltd, Sinofert Holdings and Yangnong Chemical announced this yesterday (Wednesday 7 April) at the presentation of the annual results.
Turnover has increased by 5% compared to 2019. Calculated with fixed exchange rates, the company's turnover has increased by 12%. Unfavorable exchange rates negatively impacted sales by $1,5 billion. Gross profit (EBITDA) for 2020 is $4 billion, up 3% from a year earlier.
Economies of scale and innovation
The group's synergy targets were exceeded by $450 million and, along with operating benefits, contributed $200 million to earnings. The Modern Agriculture Platform, which gives farmers access to innovative techniques, has grown significantly in China. The unit's sales tripled to $700 million. In October, Syngenta acquired Valagro. That company is strong in biological crop protection products. With this, Syngenta wants to strengthen its position in the rapidly growing market of biological agents.
“Syngenta Group has had a good financial year,” said Chen Lichtenstein CFO of the Syngenta Group. "Despite the great challenge of the corona pandemic, we have been able to continue to serve our customers." The strong figures are due to growth and effective cost control, among other things through synergy between the various business units. “The results show that we have positive momentum across all business lines,” said Erik Fyrwald CEO of the Syngenta Group. "We are growing in all regions, but especially China and Asia stand out."
Jurphaas Lugtenburg
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