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SYZYGY AG

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Delayed Xetra  -  11:36 2022-08-10 am EDT
5.660 EUR   -2.41%
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Q1 2022: SYZYGY GROUP boosts sales by 13 per cent to EUR 17 million, with an EBIT margin of around 10 per cent

04/26/2022 | 05:00am EDT
News

Q1 2022: SYZYGY GROUP boosts sales by 13 per cent to EUR 17 million, with an EBIT margin of around 10 per cent

Published
April 26, 2022
  • Sales of EUR 17 million (+13 per cent compared to prior-year quarter)
  • Core German market: Sales of EUR 13.4 million (+13 per cent on prior-year quarter) and an EBIT margin of 11 per cent
  • Strong performance in Polish and US markets: Sales of EUR 1.7 million (+25 per cent on prior-year quarter) and an EBIT margin of 12 per cent
  • United Kingdom: Sales of EUR 2.3 million (+2 per cent on prior-year quarter) and an EBIT margin of 12 per cent
  • SYZYGY GROUP's operating income rises to EUR 1.6 million (+4 per cent on prior-year quarter), with an EBIT margin of around 10 per cent
  • Forecast for the full year 2022: Sales growth of around 10 per cent with an EBIT margin of 10 per cent before special factors
  • Proposed dividend for the 2021 financial year: EUR 0.20 per share (+33 per cent compared to previous year)
  • Virtual Annual General Meeting on July 5, 2022

The SYZYGY GROUP got off to a strong start in the 2022 financial year with sales of EUR 17 million (January to March), a rise of 13 per cent compared to the same period of the previous year.

The SYZYGY GROUP's operating income (EBIT) amounted to EUR 1.6 million (+4 per cent), representing an EBIT margin of around 10 per cent. All the operating units in the SYZYGY GROUP contributed to profits.

The Germany segment boosted its sales by an impressive 13 per cent to EUR 13.4 million; the share of sales generated in the core market was thus around 77 per cent.

The international companies have continued to perform well in the 2022 financial year. Sales in Poland and the US saw strong gains of 25 per cent, coming in at EUR 1.7 million. The EBIT margin here was 12 per cent. UK sales increased by around 2 per cent in the reporting period to reach EUR 2.3 million, with operating profitability of 12 per cent.

Financial income was slightly negative at EUR -0.1 million, meaning that total net income in the first quarter after taxes is around EUR 1.1 million. Earnings per share are EUR 0.08.

Digital experiences that make a difference to consumers, brands and companies are our core business. Digital is becoming increasingly vital for brand and corporate success.

Accordingly, digital transformation has continued to gather pace in the new financial year, across all relevant sectors of the economy. That has helped to fuel the SYZYGY GROUP's dynamic growth since the start of the year.

Franziska von Lewinski, CEO der SYZYGY GROUP
Q1 2022
Q1 2021
Change
Sales
17,048
15,060
+ 13%
EBIT
1,630
1,567
+ 4%
EBIT margin
9.6%
10.4%
- 0.8 pp
Financial income
-135
-159
-15%
Net income before tax
1,495
1,408
+ 6%
Net income
1,092
1,070
+ 2%
Earnings per share (EUR)
0.08
0.08
0%
* in kEUR

Outlook

The SYZYGY GROUP confirmed its forecast for the year and expects sales growth of around 10 per cent in the 2022 financial year, combined with an EBIT margin of 10 per cent before special factors.

"Digital experiences that make a difference to consumers, brands and companies are our core business. Digital is becoming increasingly vital for brand and corporate success. Accordingly, digital transformation has continued to gather pace in the new financial year, across all relevant sectors of the economy. That has helped to fuel the SYZYGY GROUP's dynamic growth since the start of the year," said Franziska von Lewinski, CEO of the SYZYGY GROUP.

This year's Annual General Meeting, scheduled for July 5, 2022, will be held as a virtual event without the physical presence of shareholders. The Management Board and Supervisory Board will propose a dividend of EUR 0.20 per share for the 2021 financial year at the Annual General Meeting.

The full quarterly report as at March 31, 2022 will be available from April 29, 2022 at www.syzygy-group.net/investors.

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Disclaimer

Syzygy AG published this content on 26 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2022 08:59:04 UTC.


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Sales 2022 67,4 M 69,7 M 69,7 M
Net income 2022 3,85 M 3,99 M 3,99 M
Net Debt 2022 22,1 M 22,9 M 22,9 M
P/E ratio 2022 19,8x
Yield 2022 3,89%
Capitalization 76,4 M 79,1 M 79,1 M
EV / Sales 2022 1,46x
EV / Sales 2023 1,38x
Nbr of Employees 567
Free-Float 49,7%
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Last Close Price 5,66 €
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Spread / Average Target 64,3%
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Managers and Directors
Franziska von Lewinski Chairman-Management Board & Co-CEO
Kristina Bonitz Co-Chief Executive Officer
Erwin Greiner Chief Financial Officer
Antje Neubauer Chairman-Supervisory Board
Frank Ladner Chief Technology Officer
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