Corporate News: SYZYGY grows by 3 per cent in the first quarter and confirms forecast for 2017
- Sales increased by 3 per cent to EUR 14.8 million
- Operating income EUR 1.0 million
- Net income EUR 1.1 million
- Outlook for 2017: slight rise in sales and EBIT
The SYZYGY Group remains on a growth trajectory. With sales of EUR 14.8 million in the first quarter of 2017, the agency group for digital marketing generated sales growth of 3 per cent compared with the same period of the previous year.
Operating income (EBIT) was EUR 1.0 million. Restructuring expenses at the Berlin subsidiary had a significant adverse impact on the results for the first quarter. The EBIT margin declined accordingly from 10 per cent to 7 per cent. Pre-tax income was EUR 1.5 million. Given a tax rate of 28 per cent, net income was EUR 1.1 million. This represents earnings per share of EUR 0.09 (previous year: EUR 0.10).
Liquid funds and securities totalled EUR 19.6 million at the balance sheet date, corresponding to cash holdings of EUR 1.53 per share.
|Q1 2017||Q1 2016||Change|
|Financial income (kEUR)||503||396||27%|
|Pre-tax income for the period (kEUR)||1,507||1,871||-20%|
|Net income for the period (kEUR)||1,071||1,347||5%|
|Earnings per share (EUR)||0.09||0.10||5%|
The SYZYGY Group is confirming its forecast for 2017 and expects to once again increase its sales and operating income. Against a backdrop of uncertainty in the UK arising from the current lack of clarity around the outcome of Brexit, and political and economic uncertainty in the US, SYZYGY expects sales growth in the lower single-digit range, with operating income (EBIT) increasing slightly ahead of sales.
The full quarterly report as at March 31, 2017 will be available from May 5, 2017, on May 12, 2017 (in English language).