SYZYGY Group grows by further 12 per cent in first half of 2016

The SYZYGY Group remains on a growth trajectory, with a further rise in sales of 12 per cent to EUR 30.8 million in the first half of 2016. Operating income (EBIT) improved significantly, climbing 16 per cent to EUR 3.0 million, while the EBIT margin rose from 9.2 per cent to 9.6 per cent. 

Financial income fell due to a lower level of liquid funds and the situation in the capital markets, contributing EUR 0.8 million to results. A high annualised return of 6.5 per cent was achieved. 

Liquid funds and securities declined from EUR 26.8 million to EUR 21.8 million in the period covered by the report, equivalent to EUR 1.70 per share. 

Earnings before tax rose by 4 per cent to EUR 3.8 million, while net income remained at around the previous year's level when the higher tax rate is taken into account. 

This represents earnings per share of EUR 0.20 (previous year EUR 0.20), or EUR 0.10 in the second quarter. 

Due to ongoing positive prospects, SYZYGY AG is maintaining its forecast for the 2016 financial year and expects to increase sales to some EUR 65.0 million. 

The full quarterly report as at June 30, 2016 in English language is available here.

  Q2-2016 Q2-2015 Change H1-2016 H1-2015 Change
Sales in kEUR 16,405 13,974 17% 30,83 27,633 12%
EBIT in kEUR 1,479 1,208 22% 2,954 2,546 16%
EBIT margin 9.0% 8.6% +0.4pp 9.6% 9.2% +0.4pp
Financial income in kEUR 404 524 -23% 800 1,08 -26%
Earnings before tax in kEUR 1,883 1,732 9% 3,754 3,626 4%
Net income in kEUR 1,376 1,315 5% 2,723 2,709 1%
Earnings per share in EUR 0.10 0.10 0% 0.20 0.20 0%
Operatiing cash folw in kEUR 1,07 -1,9 n.a. 1,211 -3,062 n.a.