Syngenta Reports Higher Sales, Net Earnings
USAgNet - 03/27/2023
Syngenta Group announced financial results for the fourth quarter and full year 2022.
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.
- Drought Monitor: IL Dry Weather Causes Soil Crusting
- 'Granary of China' Braces For More Wheat-Damaging Rain
- Ukraine Wants to Make Danube Canal Deeper
- USDA Reports Steer Prices Hit Record Higher in April
- CoBank: Higher Grain Storage Costs to Force Elevators to Lower Bids
- Michigan Milk, Canadian Dairy Distillery to Work on Joint Project
- Hired Farm Workers Earned Higher Wages in April