Syngenta reports stronger margins and cash flow despite flat 2025 sales

Syngenta Group reported broadly stable sales but improved profitability in 2025, as higher-margin products, cost controls and innovation offset weaker commodity markets and restructuring impacts. Full-year sales declined 1% year-on-year to $28.4 billion, though underlying sales rose 2% excluding a $1 billion reduction in lower-margin grain trading activities. EBITDA increased 13% to $4.4 billion, with margins expanding to 15.4%, supported by portfolio optimization and operational efficiencies.

Performance was driven by the crop protection division, where sales rose 4% to $13.7 billion on stronger volumes and demand for premium products, particularly in North America, Europe and China. Seed sales increased 2% to $4.8 billion, with growth in Latin America offset by declines in North America linked to restructuring. Meanwhile, ADAMA sales fell 2% amid ongoing efforts to reduce lower-margin commodity exposure, and the China business reported a 10% decline due to a sharp cut in grain trading activities.

Fourth-quarter results reflected transitional pressures, with EBITDA falling 16% year-on-year to $0.9 billion due to restructuring costs, higher credit provisions in Brazil and a strong prior-year comparison. The company also completed the spin-off of Sinofert Holdings at the end of 2025, meaning the fertilizer business will no longer be consolidated from 2026. Syngenta said continued investment in biologicals, artificial intelligence, and new product technologies, alongside leadership changes including the appointment of a new chief financial officer, positions the group for longer-term growth despite ongoing geopolitical and market uncertainties.