Syngenta Group has announced that its full-year sales for 2024 reached $28.8 billion, marking a 10% decline compared to the previous year, or a 7% decrease when adjusted for constant exchange rates (CER).

The drop in sales was influenced by unfavorable weather conditions and a reduction of inventory levels in crop protection products across various markets, a trend that is now largely completed. Additionally, price pressures in commoditized segments of the crop protection portfolio and decreased profitability for growers negatively impacted demand.

The group's sales were further affected by the weakening of currencies in emerging markets. However, the global biologicals sector, innovations in new products, and the branded crop protection business in China experienced strong growth.

The company's EBITDA for the year fell by 15% to $3.9 billion, which is a 1% decrease when adjusted for CER.

In the fourth quarter, Syngenta Group reported sales of $7.5 billion, down 5% (1% when adjusted for CER). Despite this, EBITDA for the quarter rose by 11% (38% CER), reaching $1.1 billion. In response to the challenging market conditions, Syngenta Group implemented productivity and restructuring initiatives across its business units, setting the stage for margin recovery and a return to profitable growth.

The initial benefits of these initiatives have already begun to show, the company said, and combined with savings on raw materials, contributed to EBITDA improvement in the fourth quarter, even amid ongoing sales price pressures.

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