Syngenta Group Reports $32.2 Billion Sales and $4.6 Billion EBITDA in 2023

• FY 2023 Group sales at $32.2 billion, -4% versus prior year

• Q4 Group sales grew to $7.9 billion, +5% versus prior year
• FY 2023 EBITDA at $4.6 billion, -18% versus prior year
  • Q4 EBITDA at $1.0 billion, +15% versus prior year
• Syngenta Group China achieved strong 11% year-over-year sales growth, reaching $9.6 billion in FY 2023
  • FY 2023 MAP and digital sales in China grew 26% versus prior year
• Continued demand in an overall challenging Crop Protection market environment for new innovative technologies
  • Insect-control products containing PLINAZOLIN^® technology achieving particularly strong sales across Brazil and Asia Pacific

Basel, Switzerland / Shanghai, China (March 29, 2024) - Syngenta Group announced financial results for the fourth quarter and full year 2023.

Syngenta Group sales for full year 2023 were $32.2 billion, down $1.2 billion or 4 percent year-on-year (-1% CER). Full year EBITDA decreased 18 percent from the Group’s all-time high in 2022 (-14% CER). Sales in 2023 were impacted by continued industry-wide channel destocking in Crop Protection, with distributors and retailers actively reducing inventories previously accumulated in reaction to the supply chain disturbances of the prior years, while under pressure to lower working capital due to prolonged higher interest rates.

Fourth quarter sales were $7.9 billion, up 5 percent (+6% CER), driven by Syngenta Crop Protection and by strong growth of Syngenta Group China. This compares with a fourth quarter of 2022, when industry-wide destocking began. EBITDA for the fourth quarter grew 15% (+10% CER), exceeding the record-setting fourth quarter EBITDA of $0.9 billion in Q4 2022.

For more information, see Syngenta Group's report.