Corporate News: SYZYGY increases EBIT by 31 per cent in the first quarter and confirms forecast for 2019
- Sales up by 2 per cent to EUR 15.7 million
- Operating income increased by 31 per cent to EUR 1.4 million
- Net income increased by 17 per cent to EUR 1.1 million
- Effect of applying new accounting rules (IFRS 16) is positive to EBIT of TEUR 99 and negative to financial income of TEUR -143, net to net income negative of TEUR -44
- Outlook for 2019 confirmed: sales growth in the upper single-digit percentage range and with a rise in EBIT of around 10 per cent
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.
|Q1 2019||Q1 2018||Change|
|Sales (kEUR)||15,4689||15,424||+2 %|
|EBIT (kEUR)||1,442||1,104||+31 %|
|EBIT margin||9 %||7 %||+ 2 pp|
|Financial income (kEUR)||- 8||151||n.a.|
|Earnings before tax (kEUR)||1,434||1,255||+14 %|
|Net income for the period (kEUR)||1,075||920||+17 %|
|Earnings per share (EUR)||0.08||0.07||+14 %|
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 10, 2019. (in English language).