Syngenta sees revenue sprout in Q1

Syngenta Group, the global seed, crop protection and nutrition product manufacturer, saw sales revenue surge 26 percent on a yearly basis to $8.9 billion in the first quarter of 2022, according to fiscal data released on Thursday.

The Basel, Switzerland-headquartered group said its growth continued from 2021 thanks to early demand for products and services, including launches of new innovative solutions which help farmers increase yields and address climate change.

Syngenta Group China, one of Syngenta Group's four major business units, delivered robust growth with total sales of $2.4 billion in the first three months of this year, up 25 percent year-on-year.

In the meantime, revenues generated from the Modern Agriculture Platform business more than doubled to $650 million. The number of MAP centers has expanded to 514 across China, with average MAP sales up 57 percent year-on-year, serving farmers with solutions that increase yields and reduce greenhouse gas emissions.

The group said synergy-driven sales surged by more than 140 percent on a yearly basis between January and March of the year to more than $300 million, with a profit contribution that tripled to $100 million in the quarter.