ZURICH (Reuters) – Syngenta Group expects the crop protection market to stabilize this year after it posted a decline in sales and profit during 2024, the agrochemicals company said on Wednesday.
The Swiss-based company, which is controlled by China’s Sinochem, said inventory reductions in crop protection products, unfavourable weather conditions and weaker currencies in emerging markets hurt sales last year.
Group sales slipped in 2024 by 10% to $28.8 billion, while operating profit (EBITDA) decreased 15% to $3.9 billion.
Still, Syngenta said it expected crop protection and seeds markets to stabilise this year, vowing to maintain a balanced focus on investments in R&D and innovation, cost discipline, and cash flow generation to drive long-term profitable growth.
(Reporting by Paul Arnold)
