2018

Corporate News: SYZYGY boosts profitability with 10 per cent EBIT margin in 2nd quarter - sales advance by 8 per cent compared to same quarter of previous year

 

  • Sales up by 8 per cent to EUR 16.8 million
  • Operating income increased by 53 per cent to EUR 1.7 million
  • Net income up 28 per cent to EUR 1.4 million
  • Outlook for 2018: forecast confirmed, double-digit sales growth with rising profitability

The SYZYGY Group remains on a growth trajectory, with a rise in sales of 6 per cent to EUR 32.2 million in the first half of 2018. Operating income (EBIT) improved significantly, climbing 33 per cent to EUR 2.8 million, while the EBIT margin rose from 7.0 per cent to 8.7 per cent.

Financial income accounted for EUR 0.2 million of the total (previous year EUR 0.9 million). The annualised return on the securities portfolio was 5 per cent.

Liquid funds and securities declined from EUR 14.3 million to EUR 13.7 million in the reporting period. This figure includes the dividend of EUR 5.2 million paid on June 20, 2018.

Earnings before tax remained unchanged at EUR 3.0 million, while net income rose by 7 per cent to EUR 2.3 million.

Earnings per share were EUR 0.17 overall and EUR 0.10 in the second quarter.

"We regard these strong results as confirmation of our corporate reorganisation over the past year and a half. A change in strategy, management restructuring, consolidation and the successful integration of our acquisitions are clearly paying off. Going forward, these factors will continue to be a key driver of our success," commented Lars Lehne, Chairman of the Management Board of SYZYGY AG.

  Q2-2018 Q2-2017 Change H1-2018 H1-2017 Change
Sales in kEUR 16,799 15,485 8% 32,223 30,280 6%
EBIT in kEUR 1,690 1,102 53% 2,794 2,106 33%
EBIT margin 10.1% 7.1% 3.0pp 8.7% 7.0% 1.7pp
Financial income in kEUR 84 405 -79% 235 908 -74%
Earnings before tax in kEUR 1,774 1,507 18% 3,029 3,014 0%
Net income in kEUR 1,404 1,097 28% 2,324 2,168 7%
Earnings per share in EUR 0.10 0.11 -9% 0.17 0.20 -15%
Operatiing cash folw in kEUR 978 -642 n.a. 4,891 -2,748 n.a.

The SYZYGY Group expects this strong performance to continue in the second half of the year and is confirming the forecast for the full year 2018. Double-digit sales growth and a rise in the EBIT margin in the upper single-digit range are expected for the current financial year.

The full six-monthly report will be available at http://ir.syzygy.de from August 3, 2018.