DGAP-News

paragon AG upholds unimpeded growth course in 1st quarter

DGAP-News: paragon AG / Key word(s): Interim Report/Quarter Results
paragon AG upholds unimpeded growth course in 1st quarter

27.04.2016 / 07:30
The issuer is solely responsible for the content of this announcement.

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paragon AG upholds unimpeded growth course in 1st quarter

- Consolidated revenue up 9.4 percent to EUR 23.2 million (prior year:
EUR 21.2 million)

- Electromobility subsidiary Voltabox with substantial contribution to
growth

- EBITDA up 8.3 percent to EUR 3.0 million (prior year: EUR 2.8 million)

- EBIT of EUR 1.4 million matches prior year's figure

- Investments decrease to EUR 5.0 million (prior year: EUR 9.6 million)

- Revenue and earnings forecast for current fiscal year confirmed

Delbrück, April 27, 2016 - paragon AG [ISIN DE0005558696] today published
its interim report for the first quarter of 2016 and confirmed its Outlook
for the current fiscal year.

The company generated consolidated revenue of EUR 23.2 million in the first
quarter (prior year: EUR 21.2 million). In a favorable Overall climate in
the automotive industry, this growth was chiefly driven by the
Electromobility and Acoustics business divisions. Due to the expansion in
the electromobility business, cost of material rose to EUR 13.0 million
(prior year: EUR 11.8 million), resulting in gross profit of EUR 14.2
million (prior year: EUR 12.4 million). That corresponds to a current gross
margin of 61.2 percent (prior year: 58.6 percent).

"The first-quarter results offer further proof of the outstanding dynamism
of our unique business model", comments Klaus Dieter Frers, founder and CEO
of paragon AG. "These developments give us reason to be positive about this
growth course for the rest of the year as well."

The US subsidiary Voltabox of Texas, Inc. contributed EUR 1.4 million to
consolidated revenue in the past quarter, up from EUR 0.9 million in the
fourth quarter of 2015. Having begun to supply two US customers, the
ramp-up of production activities at the production site newly built last
year is progressing on schedule. The revenue growth in the Acoustics
Business division to EUR 4.3 million (prior year: EUR 3.8 million) mainly
resulted from the success of the belt-mic(R) seatbelt microphone. Not only
that, the launch of serial production for this innovation in a further
platform at a German premium manufacturer was confirmed for the current
fiscal year. With slight revenue growth to EUR 8.7 million (prior year: EUR
8.5 million), the Sensors business division once again proved to be a
robust pillar of the business, with 37.5% and thus the largest share of