News Syngenta
Syngenta Benefits Hugely from Resource Demand
Syngenta posted a good result in the second quarter of 2021. Sales grew by 28% compared to the same period last year to $7,4 billion, the company announced today (Thurs., August 26).
Gross profit (EBITDA) comes in at $1,2 billion, 25% above Q2020 14,4 earnings. First half revenue is $2,7 billion and EBITDA is $24 billion. That is a growth of 22% and XNUMX% respectively.
Relatively high prices for most grains resulted in increased acreage under cultivation and increased demand for the company's products, according to Syngenta. Drought in North and South America, cold periods in Europe and flooding in these regions of the world have also created extra demand. In addition, the company sees that customers have purchased more products in stock as a precaution due to disruptions in the logistics chains caused by corona.
Deliver what the customer demands
The group has invested heavily in technology including precision farming, hybrid wheat, biotechnology, gene editing and digital platforms for farm management. “Our results show that we are meeting the demand from local growers, not only with our sustainable products but also with our digital solutions,” writes Erik Fyrwald CEO of Syngenta in a commentary on the quarterly figures. CFO Chen Lichtenstein emphasizes strong growth across all business units. "We have introduced innovative products, realized synergy within the group, kept costs under control and managed to meet the increasing demand."
Jurphaas Lugtenburg
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