Syzygy AG

Earnings Release • Mar 30, 2004

News Details

Ad-hoc | 30 March 2004 08:00

Syzygy AG outstrips profit expectations for 2003 and provides outlook for 2004:

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Syzygy AG outstrips profit expectations for 2003 and provides outlook for 2004: – Net income KEUR 2,758 after KEUR 408 in 2002 – Earnings per share 0.23 EUR after 0.03 EUR in 2002 – Operating income (EBIT) KEUR 781 after KEUR -940 in 2002 – Liquid funds increased from around EUR 3.8 Mio. to EUR 62.1 Mio. – Significant rise in operating income expected for 2004 Frankfurt, March 30, 2004 In 2003, Syzygy generated EUR 14.7 Mio. in sales (previous year EUR 14.2 Mio.). This corresponds to 3.6% growth. However, unfavourable exchange rate fluctuations (GBP/EUR) curbed sales growth. Given constant exchange rates, sales of EUR 15.5 Mio. would have been generated, which is equivalent to a growth rate of 9.2%. Net income amounts to KEUR 2,758 (previous year KEUR 408), which equates to EUR 0.23 earnings per share; the target for the year was EUR 0.20 per share. During the financial year, Syzygy AG was able to generate a positive operating income of KEUR 781(corresponds to an EBIT margin of 5.3%). Operating cash flow stood at EUR 4.2 Mio. and was thus well over the level of EUR 3.3 Mio. achieved in 2002. Liquid funds rose by EUR 3.8 Mio. and currently stand at EUR 62.1 Mio. (this equates to a value per share of EUR 5.18). The financial results for 2003 totalled EUR 3.6 Mio., meaning that the average liquid reserves yielded a return of 5.9%. 2003 2002 Q4. 2003 Q4. 2002 Sales KEUR 14,739 KEUR 14,222 KEUR 3,382 KEUR 4,023 EBIT KEUR 781 KEUR -940 KEUR 172 KEUR 240 EBIT margin 5.3% -6.6% 5.1% 6.0% Net income KEUR 2,758 KEUR 408 KEUR 686 KEUR 882 Earnings per share EUR 0.23 EUR 0.03 EUR 0.06 EUR 0.07 For the first six months of 2004, Syzygy expects sales to remain constant at the same levels as the previous year, while profitability is expected to rise. Taken as a whole, Syzygy expects growth in sales as well as a significant rise in the operating income for 2004 compared to the previous year. The annual report 2003 can be downloaded at http://www.syzygy.net/2003 Contact: Syzygy AG – Investor Relations Im Atzelnest 3, D – 61352 Bad Homburg Tel.: +49 (0) 6172-9488-251 / Fax: +49 (0) 6172-9488-270 E-Mail: ir@syzygy.net end of ad-hoc-announcement (c)DGAP 30.03.2004 ——————————————————————————– WKN: 510480; ISIN: DE0005104806; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 300800 Mär 04