Syngenta mulls IPO, sees double-digit growth in biologicals
Syngenta released its full-year 2025 results, with biologicals remaining a hot growth area despite sales slipping slightly year-over-year, as the ag giant makes no comment about a potential IPO amid speculation.
The crop protection and seed company registered $28.4 billion in its 2025 FY, ending Dec. 31, 2025, declining 1% from the previous year, the company shared in its financial reporting. However, Syngenta sales in the fourth quarter picked up, hitting $7.6 billion and increasing 2% from the same quarter last year.
Biologicals were a bright spot in Syngenta’s 2025, Daniele Nocera, group treasurer at Syngenta, shared during an investor and bond presentation.
“Our overall biological performance was again double-digit growth with 11%, and this represented a strong volume growth across all regions except Mexico,” Nocera elaborated.
Research and development remain a key priority for the ag company, spending roughly 7% of its revenue on research and development, Nocera said. “In 2025, we had nearly 1,800 new product registrations with key active ingredients that drive volume growth, such as Plinazolin, Adepidyn, or Tymirium,” he added.
Syngenta continues to release biologicals to the Brazilian market, including the launch of the nematode protection product Tymirium in the fourth quarter of 2025, Nocera said. This comes as Brazil faced a challenging year due to “generic intensification and challenging farmer profitability,” Nocera explained.
Is Syngenta heading to an IPO?
On the call, Nocera responded to questions related to the company’s potential IPO. Syngenta was acquired by ChemChina in May of 2017 and was delisted from the SIX Swiss Exchange the following year.
Syngenta is expected to list on the Hong Kong stock exchange with a $10 billion IPO in the second quarter, per Reuters reporting. Previously, the company pulled back on an IPO in 2024.
“Syngenta Group has always said that an IPO remains a strategic option to support its growth plans, and that we will look to restart the listing process when the conditions are right. But at this point in time, no final decision has been taken,” Nocera elaborated.
Inside Syngenta’s FY 2025 results
For the year, Syngenta experienced sales growth across its crop protection and seed business, accounting for $13.7 billion and $4.8 billion in sales, respectively. The ag supplier crop protection and seed business grew 4% and 2% year-over-year, respectively.
In crop protection, Syngenta grew its North American sales by 10%, while its Europe and Asia, Middle East and Africa (AMEA), excluding China, businesses increased by 5%. Brazil sales dipped slightly by 1%, while the broader Latin America region declined by 3%.
Syngenta’s seed business experienced a reverse geographical trend. Brazil, LatAm, and China led sales growth, increasing by 17%, 10%, and 6%, respectively. Europe eeked out a 1% increase in sales. However, North American seed sales dropped by 12% on restructuring activities, and AMEA dipped 1%.
Looking ahead, Syngenta is focusing on achieving a 20% EBITDA margin by the end of the year, as the group navigates through challenging macroeconomic conditions, like the Iran war, which is expected to rise raw material and energy prices.
“Geopolitical tensions continue to sustain market uncertainties. … Global crop protection and seed markets are stabilizing with the potential for modest expansion. We believe, however, grower profitability remains under pressure, with no major improvement in farmers’ economic anticipated,” Nocera elaborated.
