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DGAP-Ad hoc: Syzygy AG <SYZ> english

syzygy AG publishes figures for second quarter 2002

Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement.


syzygy AG publishes figures for second quarter 2002:

- Development of business meets expectations - Liquid funds remain high at EUR 53.4 million or EUR 4.45 Euro per share - Managing Board decides on separation from French subsidiary - Return to operating profitability (EBITDA) expected for the running quarter

Frankfurt, 30. July 2002 syzygy achieved sales of EUR 3.7 million (previous year EUR 4.6 million) during the second quarter 2002. The German and UK subsidiaries contributed, in all, 90 % (Germany 42 %, UK 48 %).

The operating result (EBITDA) amounted to EUR -0.7 million (previous year EUR +0.0 million) of which about EUR -0.6 million were due to the French entity. The result after taxes was EUR -0.3 million (previous year EUR +0.1 million). This corresponds to a loss per share of EUR -0.03 (previous year EUR +0.01).

While the German subsidiary recovered significantly from the results of the first quarter and the UK extended its improved performance during the second quarter so that both are now disclosing EBIT profits again, the result of the French subsidiary deteriorated once more. Based on this development, the Managing Board of syzygy AG decided to cease business activities of syzygy France as soon as possible, if the present MBO negotiations with the French management team should not come to a positive conclusion within the next two weeks.

syzygy has an almost unchanged high level of liquid funds at its disposal, i.e. EUR 53.4 million or EUR 4.45 per share.

An overview of company data is as follows:

second quarter second quarter first quarter Delta 2002 2001 2002 previous quarter Sales revenues EUR 3.678 EUR 4.582 EUR 4.004 -8.1 % million million million EBITDA EUR -0.749 EUR 0.024 EUR -0.941 +20.4 % million million million EBITDA margin -20.4 % +0.5 % -23.5 % +3.1pp Result for the EUR -0.344 EUR 0.062 EUR -0.398 +13.6 % period million million million Profit per share EUR -0.03 EUR 0.01 EUR -0.03 0 % Liquid funds and EUR 53.409 EUR 53.211 EUR 54.226 EUR -0.8 securities million million million million Cash flow total EUR -0.915 EUR -2.725 EUR -0.677 EUR -0.2 million million million million Number of 154 177 154 0 employees

For the third quarter, syzygy expects sales on the level of the quarter under review (without the French subsidiary) as well as a return to operating profitability (EBITDA).

Contact: syzygy AG - Joachim Sorg - Investor Relations Im Atzelnest 3 - 61352 Bad Homburg Tel.: 06172-9488-251 / Fax: +49-6172-9488-272 E-mail: j.sorg@syzygy.net / http://www.syzygy.net

end of ad-hoc-announcement (c)DGAP 30.07.2002


WKN: 510 480; ISIN: DE0005104806; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart

Autor: DGAP import (),07:35 30.07.2002

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