SYZYGY generates sales of EUR 26.9 million in first half of year, with EBIT margin of 5.7 per cent

The SYZYGY Group generated sales of EUR 26.9 million in the first six months of the financial year, representing a decrease of 15 per cent compared to the previous year. The core German market saw sales of EUR 22.3 million with a continuing strong EBIT margin of 11 per cent. Sales declined significantly in the international markets, however, particularly in the US and UK, leading to a loss of EUR 0.5 million. This resulted in the proportion of sales generated in Germany rising to more than 80 per cent.

The SYZYGY Group’s operating income (EBIT) came in at EUR 1.5 million, with the EBIT margin declining from 8.9 per cent to 5.7 per cent.

Financial income was negative at EUR -0.4 million, meaning that total net income after taxes is around EUR 0.8 million. Earnings per share are EUR 0.06.

Outlook:

The impact of the coronavirus pandemic was apparent from March onwards and reached its peak in the second quarter. Changes in our clients’ spending behaviour led to a downturn in sales and made it more difficult to win new business. As governments ease their restrictions, it is expected that value added, consumer spending and investment will all recover markedly in the second half of 2020.

 

Bad Homburg, July 23, 2020