The industry faced several headwinds in 2022, including a choppy supply chain and inflation, but late in the year these problems began to modestly improve and the trend should continue into 2023, Chief Executive Scott Wine told analysts. The group has accelerated its investments in agriculture with a focus on automation and precision technology such as driverless tillage or seed-by-seed planting to deliver higher yields, cut costs, and lower its ecological impact. Its adjusted operating profit of industrial activities rose to $680 billion, beating analysts' expectations of $566 million based on a market consensus provided by Intesa Sanpaolo.