Syngenta Group Announces H1 2024 Earnings

Syngenta Group reported H1 2024 sales of $14.5 billion, a 17% decrease from the previous year, and a 15% decline at constant exchange rates (CER). The Group's EBITDA fell by 36% to $2.1 billion, down 30% at CER, primarily due to continued destocking by distributors and retailers, as well as higher just-in-time purchasing. Agricultural sales for Q2 2024 also dropped, reaching $7.2 billion, down 14% from Q2 2023.

The decline in sales was attributed to lower agricultural commodity prices and adverse weather conditions, leading to reduced demand for crop inputs. Despite these challenges, Syngenta remains focused on improving operational efficiency, productivity, and cash flow. H2 2024 is expected to show market stabilization and EBITDA improvements. Continued investment in R&D and innovation remains a priority for the company's long-term competitiveness.