The agrochemical company announced this on Thursday. In the first nine months of 2021, sales amounted to $ 21.0 billion, which corresponds to a growth of 25 percent over the same period of the previous year, according to the announcement.
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 18 percent to $ 3.5 billion. Syngenta achieved the result despite tense supply chains worldwide, also thanks to earlier and targeted measures in production, logistics and purchasing.
Harvest failures due to extreme weather conditions, low stocks and global delivery bottlenecks have resulted in consistently high prices for most grains, according to Syngenta. There was particularly strong demand for products and services that help farmers to secure their yields even under difficult cultivation conditions and to use agricultural land efficiently.
Interruptions in the international movement of goods and energy bottlenecks in China had an impact on the suppliers and production of agricultural products in the third quarter, according to Syngenta. The group was able to overcome these global challenges through targeted supply chain management.
Syngenta has also expanded its digital platforms: Farm management systems and digital applications would help farmers react quickly to extreme weather fluctuations. In addition, sales in the biological pesticides business increased by 30 percent. The group was able to expand its position in this growth market.
The Syngenta Group, based in Switzerland, is owned by China. It comprises the business units Syngenta Crop Protection based in Switzerland, Syngenta Seeds based in the USA, Adama based in Israel and Syngenta Group China.
A planned Syngenta IPO in China was halted the week before last. The company had not updated its listing application with the latest financial results, the Shanghai Stock Exchange announced. The examination of the application has been resumed in the meantime. According to insiders, the company could be valued at around $ 60 billion if it went public.