EQS-News

Audited consolidated financial statements for 2023 confirm communicated forecast

EQS-News: paragon GmbH & Co. KGaA / Key word(s): Annual Report Audited consolidated financial statements for 2023 confirm communicated forecast  25.04.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Audited consolidated financial statements for 2023 confirm communicated forecast

• Sales revenue in 2023 stable year-on-year at EUR 161.6 million despite restrained customer call-off behavior, especially in the second half of the year - Weak sales of electric vehicles without influence
• EBITDA for 2023 at Group level amounts to €25.2 million
• Significant improvement in earnings also due to consistent cost-cutting measures in conjunction with price adjustments
• CHF bond repaid in full in 2023, framework nominal value of the EUR bond reduced to EUR 45.2 million - Stock exchange buyback program for the EUR bond launched
• Net debt significantly reduced - net gearing ratio at 2.28
• Forecast for 2024: EUR 160 to 165 million in sales with EBITDA of EUR 18 to 20 million

 

Delbrück, April 25, 2024 - paragon GmbH & Co. KGaA [ISIN DE0005558696] today published its annual report for 2023. The audited consolidated financial statements confirm the previously communicated forecast for revenue and profitability for 2023.

In 2023, paragon generated revenue of EUR 161.6 million (previous year: EUR 160.7 million). The weak sales of electric vehicles did not play a role here, as paragon's products are completely independent of the drive type. EBITDA in the continuing operations amounted to EUR 17.7 million (previous year: EUR 10.2 million) and EUR 7.6 million in the discontinued Digital Assistance division, resulting in EBITDA at Group level of EUR 25.2 million. Both figures are therefore within the corridor already communicated in the second half of 2023.