SYZYGY increases EBIT by 31% in the first quarter

The SYZYGY Group started the 2019 financial year with sales growth of 2 per cent compared with the same period of the previous year. Sales increased to EUR 15.7 million.

Operating income (EBIT) rose by 31 per cent to EUR 1.4 million. The EBIT margin rose to 9 per cent compared to the previous year. The earnings before taxes was EUR 1.4 million. Given a tax rate of 25 per cent, net income was EUR 1.1 million. This represents earnings per share of EUR 0.08 (previous year: EUR 0.07).

Liquid funds and securities totalled EUR 12.3 million at the balance sheet date, corresponding to cash holdings of EUR 0.91 per share.

The SYZYGY Group is confirming its forecast for 2019 and expects sales growth in the upper single-digit percentage range in the current financial year, with a rise in EBIT of around 10 per cent.

The full quarterly report as at March 31, 2019 will be available at http://ir.syzygy.net from May 3, 2019.