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    SYZ   DE0005104806

SYZYGY AG

(SYZ)
  Report
Delayed Xetra  -  11:36 2022-10-04 am EDT
4.700 EUR   +3.30%
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SYZYGY GROUP confirms provisional figures and record earnings: EBIT margin rises to 10.6 per cent in 2021 – sales reach EUR 60.1 million

03/29/2022 | 08:49am EDT
News

SYZYGY GROUP confirms provisional figures and record earnings: EBIT margin rises to 10.6 per cent in 2021 / sales reach EUR 60.1 million

Published
March 29, 2022
  • Sales of EUR 60.1 million (+8 per cent compared to previous year)
  • Core German market: Sales of EUR 48.1 million (+6 per cent compared to previous year)
  • Operating income of EUR 6.4 million with an EBIT margin of 10.6 per cent (+60 per cent compared to previous year) - the best performance in the company's history
  • Net income of EUR 4.1 million
  • Earnings per share of EUR 0.30 (+100 per cent compared to previous year)
  • Proposed dividend for 2021 financial year: EUR 0.20 per share (+33 per cent compared to previous year)
  • Forecast for 2022: Sales growth of around 10 per cent with an EBIT margin of 10 per cent before special factors

The figures for 2021 as confirmed by the Supervisory Board and the auditor indicate that the SYZYGY GROUP generated sales of EUR 60.1 million and significantly boosted its profitability. The Group's operating income of around EUR 6.4 million represents the best performance since the company was established.

Financial income was EUR -1.0 million, meaning that total net income after taxes is EUR 4.1 million. This corresponds to earnings per share of EUR 0.30.

Core German market

The Germany segment boosted its sales by 6 per cent to EUR 48.1 million; the share of sales generated in the core market was thus around 78 per cent. EBIT before write-downs of goodwill stood at EUR 6.7 million (2020: EUR 6.6 million), with operating profitability remaining unchanged over the previous year at 14 per cent. The reported EBIT of EUR 3.9 million in the Germany segment includes write-downs of goodwill amounting to EUR 2.8 million.

International

The confirmed figures now available show that the international companies continued to perform well in the 2021 financial year. UK sales increased by 13 per cent in the reporting period to reach EUR 7.8 million, with operating profitability of 12 per cent. Sales in Poland and the US, the other non-German markets, likewise saw strong gains of 18 per cent, coming in at EUR 5.5 million. The EBIT margin here was 21 per cent.

"The quality of digital content and experiences makes the difference, it is our top priority at all levels. This approach enabled us to continue winning many new clients in 2021, such as the German Federal Press Office, Frankfurt Book Fair, Miles & More, and iTaxi in Poland.

As a result, our Group delivered strong performance overall in the past year.

Franziska von Lewinski, CEO der SYZYGY GROUP
2021
2020
Change
Sales
60,124
55,521
+ 8%
EBIT
6,379
3,999
+ 60%
EBIT margin
10.6%
7.2%
+ 3,4 pp
Financial income
-985
-697
-47%
Net income before tax
5,394
3,302
+ 63%
Net income
4,133
2,083
+ 98%
Earnings per share (EUR)
0.30
0.15
+ 100%
* in TEUR

Based on the strong earnings performance in the 2021 financial year, the Management Board and Supervisory Board will propose a dividend of EUR 0.20 per share at the Annual General Meeting scheduled for July 5, 2022.

Outlook

The SYZYGY GROUP 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.

The full annual report for 2021 will be available from March 31, 2022 at www.syzygy-group.net/investors.

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Disclaimer

Syzygy AG published this content on 29 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 March 2022 12:48:09 UTC.


© Publicnow 2022
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Financials
Sales 2022 66,9 M 65,9 M 65,9 M
Net income 2022 3,92 M 3,86 M 3,86 M
Net Debt 2022 22,1 M 21,7 M 21,7 M
P/E ratio 2022 15,6x
Yield 2022 5,27%
Capitalization 61,4 M 60,4 M 60,4 M
EV / Sales 2022 1,25x
EV / Sales 2023 1,17x
Nbr of Employees 567
Free-Float 49,7%
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Number of Analysts 3
Last Close Price 4,55 €
Average target price 9,00 €
Spread / Average Target 97,8%
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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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