Syngenta reports increased sales for 2014

By Erin Voegele | February 05, 2015

Syngenta has released 2014 financial results, reporting integrated sales were up 6 percent last year at constant exchange rates, while fourth quarter sales were up 12 percent. EBITDA was $2.9 billion, up 1 percent from 2013, with margin at 19.3 percent. The company reported earnings per share of $19.42, up 1 percent.

According to information released by Syngenta, sales reached $15.13 billion last year, compared to 14.69 billion in 2013. Operating income was $2.11 billion in 2014, up from $2.09 billion the prior year. Net income was $1.62 billion, down from $1.64 billion.

Regarding North American sales, Syngenta reported corn sales were down in a context of reduced acres. However, the company reported demand for Agrisure Viptera, which gained Chinese import approval in December, was sustained. According to Syngenta, sales of Agrisure Viptera accounted for approximately 30 percent of its U.S. corn seed sales last year.

Syngenta also highlighted its agreement with Cellulosic Ethanol Technologies LLC in its financial release. In April, the two companies announced an agreement to license Cellulosic Ethanol Technologies’ Cellerate technology, which is being combined with Syngenta’s corn trait Enogen. Commercial production of cellulosic fuel using the technology is currently underway at the Quad County Corn Processors plant in Galva, Iowa.