Restructuring year 2017: Provisional figures indicate that the SYZYGY Group posted a six per cent decline in sales, at EUR 60.6 million.
Operating income fell 29 per cent to EUR 4.0 million. Financial income amounted to EUR 1.4 million, meaning that total net income after taxes will be around EUR 4.4 million (-14%). Earnings per share will be approximately EUR 0.40. The company has liquid funds of EUR 16.0 million.
Due to the continuing strong cash position, the Management Board and Supervisory Board of SYZYGY AG have decided to propose a dividend of EUR 0.39 per share for the 2017 financial year at the Annual General Meeting scheduled for June 15, 2018.
“Last year was marked by a restructuring of the Group which was both necessary and comprehensive. Despite successfully gaining new business, we were unable to fully compensate for the loss of BMW as a client in Berlin. Due to sustained strong demand in new business, our focus on Germany as a growth market and closer integration of our business areas, the changes will pay off this year and generate significant double-digit growth,” commented Lars Lehne, Chairman of the Management Board of SYZYGY AG.
In the current financial year the Group will focus much more strongly on developing the core German market along the entire value chain. Expanding strategic consulting through close cooperation with diffferent will play a key role in this endeavour. The Berlin-based consultancy has been part of the Group’s portfolio since autumn 2017. In addition to the established digital business fields, the content marketing and user experience segments are also performing well and showing considerable promise. Accordingly, SYZYGY expects a double-digit increase in sales. Operating income (EBIT) will rise in line with sales.
The full annual report for 2017 will be available from March 29, 2018 at http://ir.syzygy.de.