- Operating result (before goodwill amortisation) increases to EUR 5.7 million (+40 percent compared to the previous year) with an operating EBIT margin of 8 percent
- Net sales of EUR 69.4 million (-3 per cent compared to the previous year)
- Core market Germany with net sales of EUR 56.4 million (-2 per cent compared to the previous year) and an operating EBIT margin of 12 per cent
- UK and USA segment with net sales of EUR 5.1 million (-39 per cent compared to the previous year) and an operating EBIT margin of 2 per cent
- Poland segment with net sales of EUR 8.2 million (+34 per cent compared to the previous year) and an EBIT margin of 12 per cent
- Goodwill amortisation of EUR 14.2 million
- Net income of EUR -10.3 million, earnings per share of EUR -0.77
- Positive operating cash flow of around EUR 8.0 million
- Liquidity reserves increased from EUR 4.0 million to EUR 5.0 million, bank liabilities reduced from EUR 4.5 million to EUR 1.0 million
- No dividend payment for 2024
- Outlook for 2025: Gross margin (fees) in 2025 at previous year’s level; mid-single-digit net sales decline due to lower pass-through costs; EBIT margin targeted at 8 per cent, in line with previous year.
The SYZYGY Group increased its operating profitability to 8 per cent. The 3 per cent decline in net sales to EUR 69.4 million is in line with expectations. The operating profit before goodwill amortisation increased by 40 per cent to EUR 5.7 million, improving the operating EBIT margin from 5.7 per cent to 8.2 per cent.
In the core market of Germany, net sales decreased by 2 per cent to EUR 56.4 million, with an operating margin of 12 percent. Germany accounts for approximately 81 per cent of total sales.
As expected, net sales in the UK and the US decreased by 39 percent to EUR 5.1 million, with an operating margin of 2 percent. In Poland, however, net sales increased by 34 per cent to EUR 8.2 million, with an operating EBIT margin of 12 per cent
![]()
The results are in line with our expectations given the ongoing difficult economic situation in our core market, Germany. We continue to see strong growth in Poland and have set the course for growth and higher profitability in the UK and the US. Our focus is on developing innovative solutions based on AI and continuing our operational excellence.
The 2024 EBIT (incl. Goodwill amortisation) amounts to EUR -8.5 million due to an impairment charge of EUR 14.2 million. The financial result is negative at EUR -0.6 million, resulting in a pre-tax result of approximately EUR -9.1 million. With a tax charge of approximately EUR 1.2 million, the result after tax is approximately EUR -10.3 million with earnings per share of EUR -0.77.
No dividend payment for the 2024 financial year:
SYZYGY AG’s general objective is to allow its shareholders to participate in the economic success of the company by distributing dividends. Due to the negative consolidated net income and negative retained earnings in the statutory financial statements of SYZYGY AG, a distribution of dividends is not possible.
2025 Outlook
Based on current knowledge, the SYZYGY Group expects a gross margin (fees) to be in line with the previous year. Net sales are expected to decrease by a mid-single digit percentage due to lower pass-through costs. The EBIT margin will be in line with the previous year at around 8 per cent.
The full annual report for 2024 will be available from March 31, 2025 at Investors.
