- Sales of EUR 55.2 million (-14 per cent on previous year) in line with forecast
- German core market saw sales of EUR 45.2 million (-9 per cent on previous year) and an EBIT margin of 15 per cent
- Operating income of EUR 3.9 million with an EBIT margin of 7 per cent; SYZYGY thus exceeds profitability forecast of mid single-digit range
- Net income of around EUR 2.2 million
- Proposed dividend for 2020 financial year: EUR 0.15 per share
- Outlook for 2021: Sales growth of around 10 per cent and an EBIT margin in the high single-digit range
Provisional figures indicate that the SYZYGY Group generated sales of EUR 55.2 million in the 2020 financial year, with an EBIT margin of around 7 per cent. SYZYGY’s sales were thus in line with the previous guidance, while profitability is ahead of the forecast. Back in March 2020, SYZYGY advised of a 10 to 20 per cent drop in sales, combined with profitability in the mid single-digit range, due to the general economic impact of the coronavirus pandemic. Overall, the third quarter saw the start of a significant recovery which continued in the fourth quarter, resulting in higher-than-forecast earnings.
Sales of EUR 45.2 million were generated in the Germany segment, with an ongoing high EBIT margin of 15 per cent. The decrease in sales was disproportionately small in Germany at 10 per cent, while the international companies posted a 29 per cent drop, in line with the guidance. The proportion of sales generated in Germany rose accordingly to around 82 per cent.
Provisional figures indicate that operating income (EBIT) came in at around EUR 3.9 million, with financial income negative at EUR -0.7 million. Total net income after taxes was approximately EUR 2.2 million, corresponding to earnings per share of around EUR 0.16.
We are currently experiencing a major step-up in digital transformation. Customer channels are increasingly being digitised in marketing and sales
Franziska von Lewinski (CEO)
“My colleagues on the Management Board, Erwin Greiner and Frank Ladner, guided the SYZYGY Group safely and well through a challenging financial year that was dominated by the coronavirus pandemic. We actually managed to exceed our targets in the fourth quarter. That puts us on a strong footing as we move into 2021,” said CEO Franziska von Lewinski. “We are currently experiencing a major step-up in digital transformation. Customer channels are increasingly being digitised in marketing and sales. Analogue business models are being digitally transformed. Entirely new business ideas are also emerging that are predominantly digital. The SYZYGY Group is a reliable, highly capable and innovative partner for all these tasks.”
Proposed dividend for the 2020 financial year
SYZYGY’s dividend policy continues to aim at sharing business performance appropriately with its shareholders. The intention is thus to again pay a dividend that reflects business performance. The Management Board and Supervisory Board have accordingly decided to propose a dividend of EUR 0.15 per share at the Annual General Meeting on May 28, 2021.
SYZYGY AG expects sales growth of around 10 per cent in the 2021 financial year, combined with an EBIT margin in the high single-digit range, representing a significant increase in profitability.
The full annual report for 2020 will be available from March 30, 2021 at http://ir.syzygy.de.