Syngenta, the Basel-based agricultural chemicals group majority-owned by China’s Sinochem, reported a second-quarter 2026 decline in revenue and operating profit as it restructures operations ahead of a planned Hong Kong initial public offering.
The company’s revenue fell 7% year-over-year to $5.7 billion in the three months ended June 30, 2026, while its operating profit (EBITDA) decreased 2% to $1.0 billion. On a currency-adjusted basis, adjusted EBITDA rose 4%, the company said in a statement.
Syngenta attributed the revenue decline to its ongoing restructuring efforts, including the reduction of low-margin grain trading operations in China. The group has not disclosed a timeline for its planned Hong Kong IPO, though insiders previously indicated the offering remains under consideration.
The company, headquartered in Basel, Switzerland, has been reorganizing its business segments to improve profitability amid shifting global agricultural market conditions. The restructuring has involved divesting or scaling back less profitable activities, including grain trading in China, which had weighed on margins.
Syngenta’s financial performance reflects broader challenges in the agricultural chemicals sector, where pricing pressures and input costs have pressured margins despite steady demand for crop protection products and seeds. The company’s adjusted EBITDA growth on a currency-neutral basis suggests some resilience in its core businesses, though the overall revenue decline underscores the impact of its strategic repositioning.
