26 July 2024
Ahead of a planned initial public offering later this year, agriculture chemicals manufacturer Syngenta has posted a 39% increase in second-quarter core earnings. This is due to robust performance across the board.
All of Syngenta's businesses reported double-digit revenue growth during the three-month period, resulting in a $1.7B increase in earnings before interest, taxes, debt, and amortisation. Sales across the board increased by 24% to $9.2B. According to the corporation, these increases helped overcome "logistics issues" brought on by supply chain limitations and rising energy prices.
In the first half of 2022, Syngenta's EBITDA margin was 19.5%, up 1.1 percentage points from the corresponding period in the previous year. The results come at a time when Syngenta is allegedly considering an IPO in Shanghai.