Corporate News: Sales growth of 7%, net income increases by 5%

In the first quarter of 2013, SYZYGY Group generated sales of EUR 8.0 million, a 7 per cent increase compared to last year's result. 

Because of costs associated with setting up the new company Hi-ReS! Berlin founded in 2012, operating income (EBIT) fell by 10 per cent to EUR 0.70 million. The agency is expected to break even in the second quarter of 2013. 

Financial income was at EUR 0.36 million (+55%), so that the net income totalled EUR 0.77 million (+5%). At EUR 0.06, income per share was at last year's level. 

Liquid funds and securities amounted to EUR 23.2 million, corresponding to a cash portion of EUR 1.81 per share. 

For the current financial quarter, SYZYGY expects to further increase sales, thereby outperforming the result of Q1-2013. Operating income is expected to grow significantly in the second half-year, as start-up costs for new entities will probably no longer apply. 

The full financial report as per March 31, 2013, will be issued in English language on May 8, 2013.

  Q1-2013 Q1-2012 Change
Sales in EUR`000 7 978 7 477 +7%
EBIT in EUR`000 705 782 -10%
EBIT margin 9% 10% -1pp
Net income in EUR`000 769 730 +5%
Financial income in EUR'000 356 230 +55%
Earnings per share in EUR 0.06 0.06 -