Syzygy AG

Earnings Release • Oct 31, 2001

News Details

Ad-hoc | 31 October 2001 08:28

Syzygy AG english

syzygy AG releases its results for the third Quarter 2001 Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– syzygy AG releases its results for the third Quarter 2001 * Improved operating profitability (1.5% EBITDA margin) and earnings per share of Eur 0.03 for the quarter * 4.2% sales growth compared to Q2 2001, 2.5% growth vs. first nine months of 2000. * Cash reserve increased by Eur 0.4 million to Eur 53.6 million Bad Homburg, 31. October 2001 Today syzygy AG released their results for the third quarter 2001. The company succeeded in delivering continued quarter-on-quarter sales and profits growth, as planned. The company succeeded in growing sales by 4.2% in the third quarter 2001 compared to the second quarter of this year. This is a 3.3% increase on the third quarter of 2000. Sales for the first nine months in 2001 are Eur 13.4m compared to pro forma sales of Eur 13.1m for the comparable period of 2000, a growth rate of 2.5%. syzygy improved its operating profitability (EBITDA) as well as its EPS. EBITDA tripled from Eur 24,000 in the second quarter to Eur 72,000 (1.5% margin) and EPS increased from Eur 0.01 in the second quarter to Eur 0.03 in the third quarter. The cash reserve was increased from Eur 53.2m per end of June to Eur 53.6m per end of September. The figures for the group are as follows: 3rd quarter 3rd quarter compared to 2nd quarter Jan.-Sep. 2001 2000* previous year 2001 2001 Sales Eur 4.775 Eur 4.62 3.3% Eur 4.582 Eur 13.408 million million million million EBITDA EUR 0.072 Eur 0.499 -85,6% Eur 0.024 Eur -0.402 million million million million EBITDA-margin 1.5 % 10.8 % -9.3 pp 0.5% -3.0% Result for Eur 0.350 -0.133 Mio. n/m Eur 0.062 Eur 0.203 the period million million million million Earnings per Eur 0.03 n/a n/a Eur 0.01 Eur 0.02 share * pro forma syzygy AG-Contact: Joachim Sorg (Investor Relations) Im Atzelnest 3, 61352 Bad Homburg/Germany Tel.: +49-6172-9488-100 Fax.:+49-6172-9488-270 E-mail: j.sorg@syzygy.net http://www.syzygy.net end of ad-hoc-announcement (c)DGAP 31.10.2001 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Explanations to the trading of the 3rd quarter 2001 Sales Volatile market conditions in the IT services and eBusiness sector continued throughout the third quarter of 2001. Nevertheless, syzygy succeeded in growing sales due to strong client relationships. The company also sold four licenses for its proprietary content management product, SyCOMAX, to clients during the third quarter. Profitability Strict cost management, as well as the sales growth resulted in an increased quarterly EBITDA of Eur 72,000 and a net profit of Eur 350,000 (7.3% margin). People As per 30.09.2001 syzygy employed 174 people vs. a staff of 205 (31.09.2001) and 177(30.06.2001). Outlook As a result of market volatility in all three of syzygy’s operating regions, the company expects sales growth to be slow over the next few months. However, as a result of the earlier restructuring activities, syzygy believes that it can continue to improve operating profitability. syzygy AG The Board of Management ——————————————————————————– WKN: 510 480; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 310828 Okt 01