The SYZYGY Group’s 2017 financial year was dominated by an extensive restructuring exercise that put considerable pressure on operating income. In addition, the loss of major client BMW Digital held back growth.
Due to strong new business demand, the focus on Germany as a growth market and closer integration of the individual business areas, SYZYGY expects to return to the growth strategy of recent years in 2018.
The provisional figures published on February 1, 2018 have now been confirmed by the auditors and approved by the Supervisory Board. Sales decreased by 6 per cent to EUR 60.7 million, while operating income fell by around 27 per cent to EUR 4.1 million. Financial income improved 8 per cent to EUR 1.4 million and was primarily derived from interest income and gains realised on securities. Net income after taxes was EUR 4.2 million (-17%). Due to negative minority interest, income attributable to shareholders was EUR 5.0 million, corresponding to earnings per share of EUR 0.39.
Due to the 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.
Outlook for 2018: double-digit sales growth and increase in EBIT margin
The full annual report for 2017 will be available from March 29, 2018 at http://ir.syzygy.de