On March 22, Syngenta Group announced financial results for the fourth quarter and full year 2022. Syngenta Group sales for full year 2022 were $33.4 billion, up $5.2 billion or 19 percent, year-on-year. FY EBITDA grew by $1.0 billion, an increase of 20 percent from prior year, to an all-time high of $5.6 billion. Both sales and EBITDA hit record highs.
All business units saw double-digit growth, benefitting from high demand for products and services designed to promote yield increases and sustainable farming methods. Synergy-driven sales in 2022 almost doubled to $1.3 billion, with a profit contribution of $0.5 billion, up 81 percent.
Syngenta Crop Protection sales grew 21 percent to $16.3 billion in the full year 2022, with continued broad-based momentum. Sales in Europe, Africa and the Middle East grew 6 percent and in Asia Pacific (excluding China) 3 percent. Sales in Latin America increased 43 percent; North America grew 18 percent, China by 21 percent.
ADAMA sales grew 16 percent to $6.7 billion in the full year 2022. Sales in Europe grew 4 percent; North America 12 percent; Latin America 25 percent; India, Middle East and Africa 3 percent; Asia Pacific (excluding China) 12 percent. China grew 43 percent.
Syngenta Seeds sales grew 14 percent to $4.7 billion in the full year 2022. Field crop sales in Europe, Africa and the Middle East grew 12 percent; North America 13 percent; Asia Pacific (excluding China) 19 percent; and China 23 percent. Latin America grew 27 percent driven by robust pricing and strong corn growth across the region. Sales of Vegetable Seeds grew 1 percent. Flowers were 13 percent lower.
Syngenta Group China achieved sales of $8.6 billion, up 17 percent, in the full year 2022. Underlying growth, adjusting for the new distribution model of basic nitrogen crop nutrition, was 31 percent. Syngenta Group China’s Crop Protection sales increased 17 percent. Sales of Seeds grew 22 percent. Crop Nutrition sales were 12 percent lower; underlying growth, adjusting for the new nitrogen distribution model, was 13 percent. MAP and digital sales grew 76 percent to $3.1 billion. The number of MAP centers increased by 136 to a total of 628. MAP digital applications achieved over 2 million registered users, equipped with digital tools that help modernize farms across China.