Syzygy AG

Latest Results (02.09.2026):

Syzygy AG — Q2 2026 (reporting period January–June 2026, H1 2026): Sales fell to EUR 25.23m (-14% y/y), EBIT was EUR 0.43m (EBIT margin 1.7%), and net income was EUR 0.22m (EPS EUR 0.02). Operating cash flow was negative at EUR -2.0m and cash & cash equivalents stood at EUR 1.68m as of 30 June 2026. Management confirms its full‑year outlook, targeting roughly EUR 50m in sales and a 3–4% EBIT margin for 2026.

Sales and margins

Revenue for the first half of 2026 was EUR 25.23m (down 14% vs. H1 2025). Gross margin remained roughly stable (~22%). EBIT declined to EUR 0.43m (‑15% y/y) with an unchanged EBIT margin of 1.7%.

Profitability and earnings

Income before taxes was EUR 0.28m and consolidated net income was EUR 0.22m for H1 2026. Basic earnings per share were EUR 0.02 (based on ~13.5m shares).

Cash, liquidity and working capital

Cash and cash equivalents were EUR 1.68m at 30 June 2026 (down EUR ~2.7m vs. 31 Dec 2025). Total assets declined to EUR 48.09m. The equity ratio improved to 37% (up ~4 pp) despite the lower liquidity.

Cash flow and financing

Operating cash flow was negative EUR -1.99m in H1. Cash flow from investing activities was modestly negative (EUR -0.13m). Financing cash flow was EUR -0.58m (including lease repayments and net borrowings movements); overall period cash change was EUR -2.70m.

Balance sheet highlights

Total equity was EUR 17.90m and total liabilities EUR 30.20m. Non‑current assets were EUR 29.66m and current assets EUR 18.43m. Lease liabilities and bank borrowings remain material items on the liability side.

Operations, headcount and segments

Headcount fell to 439 permanent employees (‑18% y/y). Germany remains the largest market (78% of sales), with Poland ~12% and UK/US ~10%. Top 10 clients still account for ~50% of revenue.

Market context and risks

Management cites a subdued demand environment (notably in automotive) and geopolitical uncertainty (Middle East) as headwinds, while digital advertising and AI-related services present structural opportunities.

Outlook

Syzygy AG reconfirms its full‑year guidance: roughly EUR 50m in sales and an expected EBIT margin around 3–4% for fiscal 2026; management does not anticipate goodwill impairments at this time.