Syngenta: Syngenta Group Reports Q1 2025 Results

Q1 2025 Group sales of $7.3 billion, -1% versus prior year (+3% CER) Q1 2025 EBITDA at $1.4 billion, +18% versus prior year (+26% CER) EBITDA margin 19.9%, +3.2% points up on prior year Robust Crop Protection sales performance during the quarter as channel destocking ends and driven by growth in new crop protection technologies; continued strong growth in China Strong margin recovery due to lower raw material costs, continued focus on productivity and 2024 restructuring initiatives further materializing; a more favorable business mix also contributed to a much higher EBITDA margin Cash flow continues to improve versus the prior year period Sustained R&D investments to advance innovation and ensure sustainable, long-term growth Q1 2025 Group sales of $7.3 billion, -1% versus prior year (+3% CER) Q1 2025 EBITDA at $1.4 billion, +18% versus prior year (+26% CER) EBITDA margin 19.9%, +3.2% points up on prior year Robust Crop Protection sales performance during the quarter as channel destocking ends and driven by growth in new crop protection technologies; continued strong growth in China Strong margin recovery due to lower raw material costs, continued focus on productivity and 2024 restructuring initiatives further materializing; a more favorable business mix also contributed to a much higher EBITDA margin Cash flow continues to improve versus the prior year period Sustained R&D investments to advance innovation and ensure sustainable, long-term growth BASEL, Switzerland & SHANGHAI --(BUSINESS WIRE) BASEL, Switzerland & SHANGHAI --(BUSINESS WIRE) Syngenta Group today announced financial results for the first quarter of 2025. Sales for the first quarter of 2025 were $7.3 billion, down $0.1 billion or -1%. At constant exchange rates (CER) sales increased by 3%. First quarter 2025 EBITDA increased strongly by 18% to $1.4 billion (26% CER). Syngenta Group today announced financial results for the first quarter of 2025. Sales for the first quarter of 2025 were $7.3 billion, down $0.1 billion or -1%. At constant exchange rates (CER) sales increased by 3%. First quarter 2025 EBITDA increased strongly by 18% to $1.4 billion (26% CER). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250429719496/en/ This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250429719496/en/ Syngenta Group Headquarters in Basel, Switzerland Syngenta Group Headquarters in Basel, Switzerland Sales in the first quarter of 2025 were marginally lower in USD, despite a recovery in Crop Protection, with an end to channel destocking increasing demand, particularly in the US, and further strong growth in China. Sales were somewhat lower in other business segments; at ADAMA and Syngenta Group China the lower sales reflected the continued drive to focus on higher margin business and reduce sales of lower margin products. Sales in the first quarter of 2025 were marginally lower in USD, despite a recovery in Crop Protection, with an end to channel destocking increasing demand, particularly in the US, and further strong growth in China. Sales were somewhat lower in other business segments; at ADAMA and Syngenta Group China the lower sales reflected the continued drive to focus on higher margin business and reduce sales of lower margin products. Q1 2025 EBITDA significantly exceeded the previous year Q1 EBITDA, primarily driven by Crop Protection. Both Syngenta Group China and Seeds demonstrated solid performance. The EBITDA margin improved to 19.9%, an increase of 3.2 percentage points compared to prior year. Q1 2025 EBITDA significantly exceeded the previous year Q1 EBITDA, primarily driven by Crop Protection. Both Syngenta Group China and Seeds demonstrated solid performance. The EBITDA margin improved to 19.9%, an increase of 3.2 percentage points compared to prior year. (Note: See endnotes for definition of sales, EBITDA and CER as used in this document.) (Note: See endnotes for definition of sales, EBITDA and CER as used in this document.) Q1 2025 Q1 2025 Q1 2024 Change Change (CER) $bn $bn % % Sales 7.3 7.4 -1% 3% EBITDA 1.4 1.2 18% 26% Q1 2025 Q1 2025 Q1 2024 Change Change (CER) $bn $bn % % Sales 7.3 7.4 -1% 3% EBITDA 1.4 1.2 18% 26% Crop Protection sales improved by 5% to $3.4 billion (+11% CER), compared to the same period last year, driven by the end of the channel destocking, particularly in the US. There was continued strong demand for new crop protection technologies such as ADEPIDYN ® technology, PLINAZOLIN ® technology and TYMIRIUM ® technology, supported by a general stabilization of the market. In North America and China, where new products continued to fuel growth, sales were up by 20% and 12% respectively. Across all geographies, sales of Biologicals continued their strong growth. Crop Protection sales improved by 5% to $3.4 billion (+11% CER), compared to the same period last year, driven by the end of the channel destocking, particularly in the US. There was continued strong demand for new crop protection technologies such as ADEPIDYN ® technology, PLINAZOLIN ® technology and TYMIRIUM ® technology, supported by a general stabilization of the market. In North America and China, where new products continued to fuel growth, sales were up by 20% and 12% respectively. Across all geographies, sales of Biologicals continued their strong growth. ADAMA sales decreased by 5% to $1 billion (-3% CER) due to a continued strong focus on driving higher margin business and exiting low margin products. For several quarters, ADAMA has been strategically steering its sales towards a more differentiated portfolio of formulations in higher value-added markets. ADAMA sales decreased by 5% to $1 billion (-3% CER) due to a continued strong focus on driving higher margin business and exiting low margin products. For several quarters, ADAMA has been strategically steering its sales towards a more differentiated portfolio of formulations in higher value-added markets. Syngenta Seeds recorded sales of $1.4 billion, a decrease of 2% in USD (+1% CER) compared to the same period last year. Seeds generated strong growth in China, with sales increasing by 18%, and a 4% rise in the Vegetables and Flowers business, together offsetting lower Field Crop sales in the US. Syngenta Seeds recorded sales of $1.4 billion, a decrease of 2% in USD (+1% CER) compared to the same period last year. Seeds generated strong growth in China, with sales increasing by 18%, and a 4% rise in the Vegetables and Flowers business, together offsetting lower Field Crop sales in the US. Syngenta Group China sales declined by 6% (-5% CER) to $2.5 billion versus the same period last year, largely due to the continued strategic reduction of low-margin businesses. The Seeds and Crop Protection businesses achieved strong growth. Syngenta Group China sales declined by 6% (-5% CER) to $2.5 billion versus the same period last year, largely due to the continued strategic reduction of low-margin businesses. The Seeds and Crop Protection businesses achieved strong growth. Syngenta Group EBITDA margin improved strongly in the first quarter of 2025 as all businesses continued to successfully implement operational efficiency and productivity measures. Syngenta Group also benefited from lower raw material costs and the US recovery also had a positive impact on profitability with its higher margin business mix. Syngenta Group EBITDA margin improved strongly in the first quarter of 2025 as all businesses continued to successfully implement operational efficiency and productivity measures. Syngenta Group also benefited from lower raw material costs and the US recovery also had a positive impact on profitability with its higher margin business mix. Cash flow in Q1 2025 continued to improve versus prior year, confirming the positive development in 2024, driven by improvement in margin and working capital. Cash flow in Q1 2025 continued to improve versus prior year, confirming the positive development in 2024, driven by improvement in margin and working capital. While anticipating further stabilization in the Crop Protection and Seeds markets, the Group will maintain a balanced focus on investments in R&D and innovation, cost discipline, productivity, and cash flow conversion to drive long-term profitable growth. While anticipating further stabilization in the Crop Protection and Seeds markets, the Group will maintain a balanced focus on investments in R&D and innovation, cost discipline, productivity, and cash flow conversion to drive long-term profitable growth. Highlights Sales by Business Units Q1 2025 Q1 2025 Q1 2024 Change Change (CER) $bn $bn % % Syngenta Group 7.3 7.4 -1% 3% Syngenta Crop Protection 3.4 3.2 5% 11% ADAMA 1.0 1.1 -5% -3% Syngenta Seeds 1.4 1.4 -2% 1% Syngenta Group China 2.5 2.6 -6% -5% Eliminations -1.0 -0.9 n/a n/a Highlights Sales by Business Units Q1 2025 Q1 2025 Q1 2024 Change Change (CER) $bn $bn % % Syngenta Group 7.3 7.4 -1% 3% Syngenta Crop Protection 3.4 3.2 5% 11% ADAMA 1.0 1.1 -5% -3% Syngenta Seeds 1.4 1.4 -2% 1% Syngenta Group China 2.5 2.6 -6% -5% Eliminations -1.0 -0.9 n/a n/a Syngenta Crop Protection Syngenta Crop Protection Syngenta Crop Protection sales in the first quarter 2025 increased by 5% to $3.4 billion (+11% CER). Syngenta Crop Protection sales in the first quarter 2025 increased by 5% to $3.4 billion (+11% CER). The Crop Protection business unit had a strong start to the year. North America sales were 20% higher due to a return to normal, pre-pandemic purchasing pattern in the US . In Asia, the Middle East & Africa (excluding China) momentum was strong, and sales recorded an 8%, 14% up at constant currency. China continued to demonstrate strong performance, with sales up by 12%. Europe saw a solid start to the year with channel stock normalizing, sales decreased by 1%, but at constant currency increased by 3%. Sales in Latin America declined by 9% due to