paragon GmbH & Co. KGaA

  • WKN: 555869
  • ISIN: DE0005558696
  • Land: Deutschland

Nachricht vom 21.10.2020 | 10:10

Automotive Supplier paragon Exceeds Market Expectations with 10% Increase in Revenues in Third Quarter

paragon GmbH & Co. KGaA / Key word(s): Preliminary Results/9 Month figures
Automotive Supplier paragon Exceeds Market Expectations with 10% Increase in Revenues in Third Quarter

21-Oct-2020 / 10:10 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Automotive Supplier paragon Exceeds Market Expectations with 10% Increase in Revenues in Third Quarter

Delbrück, Germany, October 21, 2020 - paragon [ISIN DE0005558696] presented preliminary figures today of its automotive business for the third quarter of 2020. Revenues in the core automotive business has increased by 10% to € 33.8 million. The main growth drivers were the Digital Assistance (up 75%), Sensors (up 16.5%) and Kinematics (up 15%) business units. According to preliminary figures, the Group has generated revenue of € 83.8 million in the automotive business after three quarters. The EBITDA margin after nine months stands at 9.0%, on par with the previous year's level despite the coronavirus-related plant closures. In the third quarter alone, paragon Automotive achieved an EBITDA margin of 12.2%.

On the basis of orders on hand until the end of the year, the Management expects to reach the upper end of the respective forecast ranges for revenues and earnings for its automotive segment. This would correspond to revenue of roughly € 120 million and an EBITDA margin of 12%. Revenue may even increase to as much as € 125 million.

The Management is wholly satisfied with the progress of negotiations on the sale of the subsidiary Voltabox. The company has received multiple offers. The Management anticipates that the matter will be concluded before the end of the year.

Publication of the interim financial report for the third quarter is being moved forward to October 30.


About paragon GmbH & Co. KGaA

paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company's portfolio includes the Electronics operating segment's innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. In addition, the Group holds a stake in Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M., which is active in the rapidly growing electromobility segment with cutting-edge lithium-ion battery systems developed inhouse.

In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech and Neu-Ulm (Bavaria, Germany), Markgröningen and St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China), Oroslavje (Croatia) and Austin (Texas, USA).

Additional information about paragon can be found at www.paragon.ag.

 

Capital Market & Press Contact

paragon GmbH & Co. KGaA

Stefan Westemeyer
Artegastrasse 1
33129 Delbrück, Germany
Phone: +49 (0) 52 50 - 97 62-141
Fax: +49 (0) 52 50 - 97 62-63
Email: investor@paragon.ag


21-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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