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2021

The SYZYGY GROUP generated sales of EUR 44.7 million in the first nine months of the 2021 financial year.

  • Sales of EUR 44.7 million (+10 per cent compared to prior-year period)
  • SYZYGY GROUP’s operating income rises to EUR 4.6 million (+77 per cent on prior-year period), EBIT margin of 10.3 per cent (+3.9 pp on prior-year period)
  • Core German market: Sales increase to EUR 35.4 million (+6 per cent compared to prior-year period) with an EBIT margin of 14 per cent
  • Robust performance in UK: Sales of EUR 6.0 million (+25 per cent on prior-year period) and an EBIT margin of 14 per cent
  • Strong recovery in other segments (Poland and US): Sales of EUR 4.3 million (+29 per cent on prior-year period) and an EBIT margin of 21 per cent
  • Outlook for full-year 2021: Sales growth of around 10 per cent and profitability target of EBIT margin of around 10 per cent

The SYZYGY GROUP generated sales of EUR 44.7 million in the first nine months (January to September) of the 2021 financial year, representing an increase of 10 per cent compared with the same period of the previous year. Sales grew 6 per cent in the third quarter of 2021 compared to the same quarter in 2020.

The SYZYGY GROUP again achieved steady growth in its core German market, posting sales of EUR 35.4 million in the 9-month period. This represents sales growth of 6 per cent, with profitability (EBIT) remaining strong at 14 per cent.

The international companies continue to perform well in 2021 compared to the prior-year quarters. UK sales increased by 25 per cent in the period covered by the report to reach EUR 6 million. Sales in the other non-German markets likewise made strong gains of 29 per cent to stand at EUR 4.3 million, driven in particular by the performance of the Group’s Polish company. The EBIT margin was 21 per cent.

The SYZYGY GROUP’s operating income (EBIT) came in at EUR 4.6 million in the first nine months of the year, with the EBIT margin rising from 6.4 per cent to 10.3 per cent compared with the same period of the previous year. All the operating units in the SYZYGY GROUP contributed to profits, with the international companies posting particularly impressive performance.

Financial income was negative at around EUR -0.6 million, meaning that total net income after taxes is around EUR 4.1 million. Earnings per share are EUR 0.23.

  Q3-2021 Q3-2020 Change 9M-2021 9M-2020 Change
Sales in kEUR 14,622 13,737 6% 44,658 40,685 10%
EBIT in kEUR 1,518 1,059 43% 4,616 2,606 77%
EBIT margin 10.4% 7.7% 2.7pp 10.3% 6.4% 3.9pp
Financial income in kEUR -172 -167 3% -565 -555 2%
Earnings before tax in kEUR 1,346 892 51% 4,051 2,051 98%
Net income in kEUR 1,043 639 63% 3,139 1,458 115%
Earnings per share in EUR 0.08 0.05 60% 0.23 0.11 109%

Outlook

SYZYGY AG is confirming its profitability forecast of an EBIT margin of around 10 per cent and predicted sales growth of some 10 per cent. The expected increase in sales will be delivered by all units, both national and international, with all segments also contributing to profitability.

The full quarterly report will be available at here from November 3, 2021.