- Syngenta Group maintained robust growth in Q3 despite challenging market conditions1
- Q3 Group sales at $5.4 billion, 5 percent higher year-on-year (15 percent at constant exchange rate2)
- Q3 EBITDA at $733 million, 1 percent higher than in the same quarter 2019
- All businesses delivered strong sales growth at CER
- Group sales for first nine months of the year at $17.4 billion, up 3 percent year-on-year (9 percent at CER) despite a $1.1 billion currency headwind
- EBITDA for first nine months amounting to $2.95 billion, 5 percent higher year-on-year
- Syngenta Crop Protection announced acquisition of Valagro, strengthening leading position in the rapidly growing market for Biologicals
- ADAMA announced acquisition of majority stake in Huifeng’s crop protection business, significantly strengthening its position in China
- Currency volatility linked to COVID-19 partially mitigated
30 October 2020, Basel / Switzerland
Syngenta Group Co., Ltd. today announces the Group’s maiden Q3 results after its formation in June 2020. The Group increased sales to $5.4 billion, which is 5 percent higher compared to the same period last year. This corresponds to a growth of 15 percent at constant exchange rates. Third-quarter EBITDA increased 1 percent to $733 million.
Group sales for the first nine months amounted to $17.4 billion, which corresponds to a growth of 3 percent (9 percent at CER) compared to the same period in the previous year and despite a $1.1 billion currency headwind. The EBITDA for the first nine months of the year was at $2.95 billion, 5 percent higher year-on-year. Group revenue synergies exceeded $200 million, together with operational synergies resulting in more than a $100 million EBITDA contribution.
The company also made continued strategic progress, including the acquisition of Valagro, a leading Biologicals company, by Syngenta Crop Protection in early October. The acquisition strengthens Syngenta Group’s position in the rapidly growing Biologicals market.
This month’s acquisition of a majority stake in Huifeng’s crop protection business by ADAMA enhances the company’s presence in China as well as strengthens its backward-integrated, competitive offering worldwide.
While the global macroeconomic environment remains challenging, Syngenta Group has continued to manage and mitigate the impacts of COVID-19, particularly the need for incremental inventory to ensure continued supply of higher volumes as well as currency volatility.
Erik Fyrwald, Syngenta Group CEO: “Syngenta Group has again delivered a solid performance despite the challenging conditions globally. In times where the industry is grappling with the impact of COVID-19, we remain a reliable and innovative partner for our customers resulting in this performance and further growth of the Group.”
Chen Lichtenstein, Syngenta Group CFO: “We have delivered sustainable growth in the third quarter and were able to substantially increase sales despite the challenging market and volatile currency environment. All businesses have delivered a solid performance and continued to grow.”
