Synergy Group Holdings International Limited (Synergy Group) announced its unaudited condensed consolidated interim results for the six months ended 30 September 2018. The Group’s revenue was approximately HK$171.1 million for the six months ended 30 September 2018, representing an increase of 26.6% as compared to that for the six months ended 30 September 2017. The increase was mainly attributed to the well performance of the Group’s overall energy-saving business, particularly in the development of the overseas markets. Consequently, the Group’s gross profit recorded a 5.5% increase to approximately HK$74.8 million (1HFY2018: approximately HK$70.9 million). EBITDA also increased significantly by 68.4% to approximately HK$96.7 million (1HFY2018: approximately HK$57.5 million) with improved EBITDA margin to 56.5% (1HFY2018: 42.5%).
Mr. Wong Man Fai Mansfield, Chairman, Chief Executive Officer & Executive Director of Synergy Group, said, “We are very pleased to have achieved satisfactory financial results in the first half of FY2019. In spite of the increasingly competitive energy-saving and energy management market, armed with the first mover advantages, an innovative business model, and adopting differentiated development strategies, Synergy Group was able to strengthen its industry leadership and outperform its peers during the Period. On the solid foundation of our energy-saving and energy management business, we have been expanding our business via acquisitions in a company specialising in artificial intelligence and big data analysis, and making valuable investments in a group of companies principally engaged in vanadium extraction and process for supplying the major raw material to Vanadium Flow Batteries for long duration stationary applications in energy storage, outperforming other batteries such as lithium-ion and lead acid batteries. We are committed to bolstering our leadership in the energy industry with our proven technology solutions and continuous efforts in technological innovation to the end of creating a more sustainable world.”