Corporate News: Annual results for 2019 - Sales of EUR 64.2 million with solid growth in the core German market
Provisional figures for 2019 indicate that the SYZYGY Group generated sales of EUR 64.2 million, representing a slight decline of around 2 per cent compared to the previous year. The core German market again saw solid growth, with sales of approximately EUR 50 million and a strong EBIT margin of 15 per cent. In contrast, international sales were down around EUR 5 million to EUR 14 million. The loss of AVIS as a client in the US and the restructuring of the UK business had a negative impact of EUR 0.9 million on the financial year.
Operating income (EBIT) will come in at EUR 5.5 million, leading to a slight reduction in the Group’s EBIT margin from 9.2 er cent to 8.6 per cent. Financial income is slightly negative at EUR -0.3 million, meaning that total net income after taxes will be around EUR 3.8 million. Earnings per share will be approximately EUR 0.28.
The SYZYGY Group will remain focused on expansion in its successful core German market in the 2020 financial year and move to deepen interdisciplinary cooperation. To help achieve this, the German performance marketing and media services at the Hamburg and Munich locations will be brought together under the name SYZYGY Performance Marketing.
SYZYGY AG expects sales growth in the low single-digit percentage range in the 2020 financial year, combined with an increase in profitability compared to the previous year. Growth is expected to take place in Germany, while the international companies will see a single-digit percentage decline in sales and generate an EBIT margin in the mid single-digit range.
The full annual report for 2019 will be available from March 30, 2020 at http://ir.syzygy.de.