DGAP-News

paragon AG posts ongoing dynamic performance for first three quarters of 2015

DGAP-News: paragon AG / Key word(s): Quarter Results
paragon AG posts ongoing dynamic performance for first three quarters
of 2015

19.11.2015 / 09:28

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paragon AG posts ongoing dynamic performance
for first three quarters of 2015

- 9-month revenue 20.4% up on prior year

- EBIT margin almost doubles year-on-year

- Sharp rise in operating cash flow to EUR 6.6 million (prior year's
period: EUR -0.3 million)

- Production plants opened in US and China

Delbrück, November 19, 2015 - paragon AG upheld the very strong business
performance already seen in the first half of the year in the third quarter
as well and further boosted its revenue momentum in particular. At EUR 67.4
million, consolidated revenue for the first nine months of 2015 was 20.4%
ahead of the figure of EUR 56.0 million for the prior year's period. In the
3rd quarter alone, revenue surged by 24.9% to EUR 22.7 million. EBIT more
than doubled to EUR 4.6 million (prior year: EUR 2.0 million), while the
EBIT margin also rose sharply from 3.6% to 6.8%. Indications for the rest
of the year also remain positive.

"For us, the second half of the year has been shaped by very strong revenue
momentum across all business divisions accompanied by groundbreaking steps
on the investment front. In recent months we have opened our new production
plants in the US and China. Not only that, our far-reaching product
campaign presented at the IAA Motor Show in Frankfurt has received superb
feedback in professional circles," remarked Klaus Dieter Frers, CEO of
paragon AG.

All business divisions post growing revenue momentum
In addition to the pleasing development of the new divisions - Body
Kinematics and Electromobility - the original core business also generated
substantial growth in the first nine months of 2015. The Sensors business
division benefited from strong demand for its air quality management
solutions (AQS, AQI) and increased its revenue from EUR 22.5 million to EUR
25.1 million. The Acoustics business division grew from EUR 10.9 million to
EUR 11.9 million, while revenue in the Cockpit business division rose from
EUR 20.2 million to EUR 24.0 million. At EUR 25.5 million, total
investments at the paragon Group remained high (prior year: EUR 9.0
million) and related in particular to the acquisition of SphereDesign GmbH,
replacement and new investments in machinery, and the current product
campaign. Furthermore, in the current year paragon has consistently