DGAP-News: paragon AG / Key word(s): Final Results
paragon reports strong figures for 2013
12.03.2014 / 12:33
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Revenue rises by 4.9 percent to EUR73.9 million
EBIT margin stands at 10.7 percent
Buoyant growth expected for 2014 and 2015
Delbrück, March 12, 2014: paragon AG has today presented its annual
financial statements for the 2013 financial year. Revenue and income were
above their 2012 levels and within the Company's own forecasts. paragon
expects its business to continue to grow dynamically in 2014.
The automotive supplier increased its revenue by 4.9 percent to EUR73.9
million (2012: EUR70.4 million). There was also a rise in EBITDA, which
grew by 6.1 percent to EUR12.5 million (2012: EUR11.8 million). EBIT was up
by 2.1 percent year on year at EUR7.9 million (2012: EUR7.8 million),
resulting in an EBIT margin of 10.7 percent. Net income amounted to EUR3.9
million, which was lower than in the previous year (2012: EUR4.6 million)
owing to higher finance costs and income taxes. Earnings per share
therefore came to EUR0.96 (2012: EUR1.13).
In 2014, paragon anticipates that revenue will advance by around 8 percent
to approximately EUR80 million. The EBIT margin is also expected to remain
in double digits in 2014 at roughly 10 percent.
The business segments with the biggest revenue gains were Body Works
Kinematics and Electromobility, where revenue rose by EUR3.5 million and
EUR3.8 million respectively. As a result, the proportion of revenue
accounted for by these two business segments together climbed from 0.5
percent in 2012 to almost 10 percent in 2013. Sensors and Cockpit remained
the largest business segments, generating revenue of EUR27.6 million and
EUR27.3 million respectively. The revenue reported by the Acoustics
business segment reached EUR11.7 million.
Impressive outlook
"2013 was a good year for us, and we are very satisfied," said Klaus Dieter
Frers, founder and Chairman of the Managing Board of paragon AG. "We have
again made significant investments and therefore put down strong
foundations. Our two new business segments, Electromobility and Body Work
Kinematics, have performed brilliantly and are already demonstrating their
huge potential for generating revenue in the future."
Given the level of new orders received in the Sensors, Acoustics, and Body
Works Kinematics business segments and, in particular, for battery packs,
revenue could potentially increase by up to 20 percent in 2015. paragon
expects the Electromobility business segment alone to bring in revenue
totaling some EUR150 million in the next five years. The successful
increase of the corporate bond issued in 2013 has also created greater
financial flexibility with which to expand this segment.
Company profile
Listed in the regulated market (Prime Standard) of Deutsche Börse AG in
Frankfurt am Main, paragon AG develops, produces, and sells advanced
automotive electronics solutions. The portfolio of this direct supplier to
the automotive industry includes products in the following business
segments: Sensors, Acoustics, Cockpit, Electromobility, and Body Works
Kinematics. Headquartered in Delbrück (North Rhine-Westphalia), paragon AG
has branches in Suhl (Thuringia), Nuremberg (Bavaria), and St. Georgen
(Baden-Württemberg) as well as a sales office in Shanghai (China).
Contact
paragon AG
Schwalbenweg 29
33129 Delbrück
Germany
Tel.: +49 (0)5250 97620
Fax: +49 (0)5250 976 260
Website: www.paragon.ag
Email: info@paragon.ag
Press contact
Stockheim Media GmbH
Steffen Rinas
Tel.: +49 (0)69 1338 9621
Email: sr@stockheim-media.com
Investor relations contact
Stockheim Media GmbH
Michael Knecht
Tel.: +49 (0)89 309 051 8925
Email: mk@stockheim-media.com
End of Corporate News
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12.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
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Language: English
Company: paragon AG
Schwalbenweg 29
33129 Delbrück
Germany
Phone: +49 (0)5250 97 62 - 0
Fax: +49 (0)5250 97 62 - 60
E-mail: investor@paragon.ag
Internet: www.paragon.ag
ISIN: DE0005558696, DE000A1TND93
WKN: 555869, A1TND9
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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257130 12.03.2014
DGAP-News: paragon reports strong figures for 2013
| Source: EQS Group AG