EQS-News

paragon presents key figures for 2024 and provides an outlook for the next five years - Seite 2

"Thanks to the successful debt reduction and the EBITDA expected for 2023, a net leverage ratio of less than 2.5 is expected at the end of the year, which means that the interest payable on the EUR bond will be 7.5% in the future," emphasizes paragon CFO Dr. Martin Esser. "The incredible feat of the past four years to bring net debt to a level that is appropriate for the size of the company is now freeing up resources for a growth strategy that includes both regional expansion and a product initiative for the coming years," explains CEO Klaus Dieter Frers, founder and majority shareholder of paragon GmbH & Co. KGaA. In the second quarter of 2024, a dedicated sales office in the USA will replace the current representation by external employees.

In addition to the regional expansion, which also includes the intensification of sales activities in China, India and South Korea, paragon is expanding its presence with other premium manufacturers in Europe and will also expand its offering towards commercial vehicles and motorcycles, Frers added. "The increased cooperation between the four business units is currently creating opportunities for new products that address the growth drivers of the automotive industry," adds Frers. paragon is focusing on the development of standardized components that can be used not only in vehicles but also in other markets such as heat pumps and household appliances.

Due to the high order backlog, paragon expects to have exceeded the EUR 300 million revenue threshold by the end of the current planning period from 2024 to 2028. In the coming years, paragon hopes to see a significant increase in revenue and profit from further major orders that are in the pipeline, meaning that the management believes this revenue mark could be reached much earlier.

 

About paragon GmbH & Co. KGaA

Listed on the Regulated Market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M., paragon GmbH & Co. KGaA (ISIN DE0005558696) develops, produces and distributes pioneering solutions in the fields of automotive electronics, body kinematics and electromobility. The portfolio of the market-leading direct supplier to the automotive industry includes innovative air quality management, modern display systems and connectivity solutions, as well as high-end acoustic systems in the electronics segment. In the mechanics segment, paragon develops and produces active mobile aerodynamic systems. In the fast-growing automotive market for battery systems, paragon's Power business unit supplies battery management systems and traction batteries.