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paragon AG posts ongoing dynamic performance for first three quarters of 2015 - Seite 2
invested in its Voltabox subsidiaries, in real estate at its headquarters
in Delbrück and in the US to expand its production capacity, and
additionally and substantially in its Body Kinematics and Acoustics
business divisions. These additional investments alone were EUR 3.3 million
higher than in the prior year. The company has thus laid a foundation to
generate further significant growth.
paragon's nine-month earnings performance was also significantly ahead of
the prior year's period. Despite the one-off expenses referred to above,
EBIT grew by 127.9% from EUR 2.0 million to EUR 4.6 million and the EBIT
margin improved from 3.6% to 6.8%. Excluding the aforementioned additional
expenses of EUR 3.3 million, EBIT would have amounted to EUR 7.9 million
(adjusted prior year's figure: EUR 4.6 million) with an adjusted margin of
11.7% (prior year: 8.2%). Unadjusted consolidated net income (IFRS) as of
September 30, 2015 rose to EUR 1.8 million (prior year: EUR 0.2 million),
while earnings per share showed a corresponding increase to EUR 0.45 (prior
year: EUR 0.04).
Internationalization progressing apace
Voltabox of Texas, Inc., paragon's US subsidiary, opened its new production
plant close to Austin/Texas at the beginning of the third quarter already.
This was followed in early November by the opening of the new plant in
Kunshan/China. The key focus of production here is on air quality systems,
as this is where the Chinese market offers the greatest revenue potential.
paragon is the world leader in the global market for AQS air quality
sensors and has already acquired notable orders from Chinese carmakers. The
assembly of battery systems, initially for the Chinese market and later
also for export, is due to be launched in 2016. With these activities,
paragon is consistently pressing ahead with the further implementation of
its previously announced internationalization strategy.
The key highlight in the Electromobility business in the third quarter was
the major order for starter batteries for conventionally powered vehicles
received from a German carmaker and worth around EUR 72 million. In the
context of the IAA Motor Show in Frankfurt in September 2015, paragon also
presented numerous further innovations from across all business divisions,
such as a modular sound system, a connectivity platform, steering wheel
control elements and interior components, aerodynamic systems and a
substantially extended Electromobility product range.
The Managing Board sees the ongoing positive performance in the current
Voltabox of Texas, Inc., paragon's US subsidiary, opened its new production
plant close to Austin/Texas at the beginning of the third quarter already.
This was followed in early November by the opening of the new plant in
Kunshan/China. The key focus of production here is on air quality systems,
as this is where the Chinese market offers the greatest revenue potential.
paragon is the world leader in the global market for AQS air quality
sensors and has already acquired notable orders from Chinese carmakers. The
assembly of battery systems, initially for the Chinese market and later
also for export, is due to be launched in 2016. With these activities,
paragon is consistently pressing ahead with the further implementation of
its previously announced internationalization strategy.
The key highlight in the Electromobility business in the third quarter was
the major order for starter batteries for conventionally powered vehicles
received from a German carmaker and worth around EUR 72 million. In the
context of the IAA Motor Show in Frankfurt in September 2015, paragon also
presented numerous further innovations from across all business divisions,
such as a modular sound system, a connectivity platform, steering wheel
control elements and interior components, aerodynamic systems and a
substantially extended Electromobility product range.
The Managing Board sees the ongoing positive performance in the current
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