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ots Ad hoc-Service: Syzygy AG
syzygy AG releases results for the year 2000 and outlook for 2001:
Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement.
Frankfurt/London (ots Ad hoc-Service) -
- Strong, profitable, growth across all markets year on year - Sales up 56% from previous year - EBITDA up 282% to 8.0% margin - Important new Blue-chip client wins - Further growth in 2001 despite tough market conditions
syzygy AG, the pan-European eBusiness solutions provider, announced today that proforma revenues for the year ended 31 st December 2000 increased 56% from EUR 11.304 milion to EUR 17.639 million (French subsidiary included for 1999 and 2000). Operating results (EBITDA) for 2000 reached EUR 1.411 million, compared with EUR 369,000 for 1999. The corresponding EBITDA margin rose from 3.2% to 8.0%. The pro forma net loss of EUR 1.425 million in 1999 was reduced to a loss of EUR 958,000 in 2000 of which one-off, IPO-related charges were EUR 783,000.
During the year, syzygy successfully completed its IPO on the Neuer Markt, generating EUR 55 million. The company's cash and cash equivalents, plus marketable securities at year-end totalled EUR 56 million (1999: EUR 1 million).
Importantly, repeat business from existing clients accounted for 70% of revenues while over 40% of revenues came from pan-European projects and 74% of revenues from sector expertise in 4 core vertical markets.
In France, syzygy turned EBIT positive in September and maintained profitability through the remainder of the year. These positive results were due largely to enhanced relation-ships with clients such as Vivendi and the successful acquisition of new clients such as Aventis, Banque de France, Gencell and Servier.
The figures for the group are as follows on a pro forma basis:
Full 4th quarter Full year 4th quarter
year 2000 2000 1999 1999
(EUR) 17.639 4.482 11.304 3.132
million million million million
(EUR) 1.411 (0.362 0.369 0.575
million million) million million
margin 8.0% n/a 3.2% 18.4%
for the (0.958 (0.945 (1.425 0.171
million) million) million) million
per share (EUR 0.08) (EUR 0.08) n/a n/a
syzygy AG The Board of Management
syzygy AG Joachim Sorg Investor Relations Im Atzelnest 3 61352 Bad Homburg Tel.:+49(0)6172/9488-0
Fax: +49(0)6172/9488-270 E-mail: firstname.lastname@example.org
Issuer's information/explanation remarks concerning this ad hoc announcement:
Trading during 1st quarter 2001 According to provisional estimates, sales for the first quarter of 2001 will amount to EUR 4 million. This corresponds to a growth rate of around 8% over the first quarter of 2000. Management reports continued strong sales growth in Germany. The UK had a difficult January and February, although sales picked up in March. In France there has been a sharp downturn in Q1 revenues. For these reasons, the Group expects to post a loss of EUR 0.5 million for the first quarter of 2001. Through strong relationships with existing customers, the acquisition of new customers, the launch of a new licence fee based version of the SyCOMAX content management software and strict cost management, syzygy will continue to pursue profitable growth. For the year 2001 as a whole, syzygy AG expects sales to grow by around 20% to ca. EUR 21 million, with an EBITDA margin of approximately 6% and the strongest growth coming from Germany.
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