SYZYGY grows by 6 per cent in first quarter and raises forecast for current financial year

The SYZYGY Group remains on a growth trajectory. With sales of EUR 14.4 million in the first quarter of 2016, the agency group for digital marketing generated sales growth of 6 per cent compared with the same period of the previous year. 

Operating income (EBIT) rose by 10 per cent to EUR 1.5 million, with the EBIT margin rising from 9.8 per cent to 10.2 per cent. Adjusted pre-tax income was EUR 1.9 million. In addition to EBIT, a continuing high level of financial income, amounting to EUR 0.4 million, contributed to the strong results. 

Given a tax rate of 28 per cent, net income was EUR 1.3 million. 
This represents earnings per share of EUR 0.10 (previous year: EUR 0.10). 

Liquid funds and securities totalled EUR 25.8 million at the balance sheet date, corresponding to cash holdings of EUR 2.03 per share. 

The SYZYGY Group expects to achieve a significant increase in sales in the second quarter. 

Due to the majority stake now held in customer experience specialist USEEDS°, the SYZYGY Group is raising its sales forecast for the current year. Instead of EUR 63.0 million, the agency group now expects to generate sales of EUR 65.0 million in the current financial year. Operating income is expected to increase ahead of sales. The individual segments will contribute to this growth in roughly equal measure. 

The full quarterly report as at March 31, 2016 in English language will be available from May 6, 2016. 

  2016 2015 Change
Sales in EUR`000 14,425 13,659 6%
EBIT in EUR`000 1,475 1,338 10%
EBIT margin 10.2% 9.8% +0,4pp
Financial income in EUR'000 396 556 -29%
Net income before special factors and tax in EUR`000 1,871 1,894 -1%
Net income in EUR'000 1,347 1,394 -3%
Earnings per share in EUR'000 0.10 0.10 0%