Syzygy AG

Earnings Release • Mar 25, 2003

News Details

Ad-hoc | 25 March 2003 07:29

Syzygy AG english

syzygy AG publishes its annual financial statements 2002 and prospekts for 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– syzygy AG publishes its annual financial statements 2002 and prospekts for 2003 – Sales up on previous year; positive earnings per share of EUR 0.03 – EBIT of EUR 408,000; EBIT margin of 4.8% for the second half of the year – Liquid funds increased by EUR 3.7 million to EUR 58.3 million – Sales growth and positive EBIT planned in 2003 Frankfurt, 25 March 2003 After the disposal of its French subsidiary, syzygy achieved deconsolidated sales of EUR 14.2 million (previous year EUR 14.7 million) in 2002 which was a difficult year for the industry. The net income amounts to TEUR 408 (previous year TEUR -7,182), this corresponds to earnings per share of EUR 0.03. syzygy AG outperformed its internal planning and achieved an operating income (EBIT) of TEUR 369 (which corresponds to an EBIT margin of 4.8% at sales of EUR 7.7 m.) in the second half of the year. In the first six months the company achieved sales of EUR 6.5 m. and EBIT of TEUR -1,350, including one-off restructuring expenses of TEUR -600. For the year the EBIT amounts to TEUR -940 at sales of EUR 14.2 m. The operating cash-flow development was extremely positive with EUR 3.3 m. in 2002. syzygy has liquid funds of EUR 58.3 m. (previous year EUR 54.6 m.) – this corresponds to a cash per share of EUR 4.86. In the 4th quarter syzygy increased its liquid funds by EUR 4.6 m.The interest income for 2002 amounts to EUR 3.0 m. For 2003 syzygy expects increasing sales and a positive EBIT in spite of the continuous difficult market environment. The result per share will increase according to the forecast from EUR 0.03 in 2002 to EUR 0.16 per share in the year 2003. Particulars: Sven-Roger von Schilling (35), Chief Financial Officer of syzygy AG, will leave the company on mutual agreement as of march 31, 2003. The supervisory board gives procuration to Erwin Greiner (34), who has been Group Controller of syzygy AG since the beginning 2001 and the executive board appoints him Finance director. Contact: syzygy AG – Joachim Sorg – Investor Relations Im Atzelnest 3-61352 Bad Homburg Tel.: +49-6172-9488-251 / Fax: +49-6172-9488-270 E-mail: j.sorg@syzygy.net / http://www.syzygy.net end of ad-hoc-announcement (c)DGAP 25.03.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Total year2002 Total year2001 4th Quarter 02 4th Quarter 01 Sales TEUR 14,222 TEUR 14,699 TEUR 4,023 TEUR 3,534 EBIT TEUR -940 TEUR -1,131 TEUR 240 TEUR -676 EBIT margin -6.6 % -7.7% 6.0% -19.1% Net income TEUR 408 TEUR -7,182 TEUR 882 TEUR -6,979 Earnings per share EUR 0.03 EUR -0.60 EUR 0.07 EUR -0.58 ——————————————————————————– WKN: 510480; ISIN: DE0005104806; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 250729 Mär 03