DGAP-News: syzygy AG

- Consolidated sales fall 6 per cent to EUR 60.7 million

- Operating income lower by around 27 per cent at EUR 4.1 million

- Total net income down 17 per cent at EUR 4.2 million

- Attractive dividend of EUR 0.39 proposed

- Outlook for 2018: double-digit sales growth
 

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.

Liquid funds and securities totalled EUR 16.0 million at the balance sheet date, equivalent to EUR 1.18 per share.

Outlook for 2018: double-digit sales growth and increase in EBIT margin
The SYZYGY Group expects double-digit sales growth in the current financial year, with a rise in the EBIT margin in the upper single-digit range. Growth is expected to take place chiefly in Germany, while the performance of all other segments will remain broadly unchanged. Operating income (EBIT) will rise in line with sales.

The full annual report for 2017 will be available from March 29, 2018 at http://ir.syzygy.de.

About the SYZYGY Group
As a provider of technological, creative and media services in the digital marketing space, the SYZYGY Group has around 700 employees. Established in 1995, it has branches in Bad Homburg, Berlin, Frankfurt, Hamburg, Munich, London, New York and Warsaw.
Its clients include prestigious brands such as AVIS, BMW, comdirekt bank, Commerzbank, Daimler, Deutsche Bank, Mazda, Miles & More, o2 and health insurer Techniker Krankenkasse.