paragon AG grows significantly faster than the market in the first six months thanks to electromobility

DGAP-Media / 16.08.2016 / 08:00

paragon AG grows significantly faster than the market in the first six
months thanks to electromobility

- Consolidated revenue up by 9.4% to EUR 48.8 million (prior year: EUR
44.6 million).

- With a contribution of EUR 4.5 million, electromobility subsidiary
Voltabox now accounts for 9.3% of consolidated revenue (prior year: EUR
1.3 million with a 3.0% share of revenue)

- EBITDA increases slightly to EUR 6.8 million (prior year: EUR 6.7
million).

- EBIT margin of 7.2% (prior year: 8.6%)

- Revenue and earnings forecast for the current fiscal year confirmed

Delbrück, Germany, August 16, 2016 - paragon AG [ISIN DE0005558696] has
published its interim report as of June 30, 2016 - six months - today and
confirmed its own forecast for the current fiscal year.

The company generated consolidated revenue of EUR 48.8 million in the first
six months (prior year: EUR 44.6 million). This growth (9.4%) was based not
only on the buoyant condition of the global sales market for automobiles in
the second quarter, but also, and in particular, on the dynamic development
of business at the two Voltabox subsidiaries that represent the
Electromobility division.

"The first fruits of our early and systematic positioning as a specialist
supplier of efficient, intelligent battery systems in the market for
electromobility are slowly becoming visible," says Klaus Dieter Frers,
founder and Chief Executive Officer of paragon AG. "Revenue from this
division was doubled according to plan in the second quarter," added Mr.
Frers.

Business divisions are performing as planned

The growth in revenue resulted partly from increased take-rates of optional
extras that include paragon sensors in current vehicle models. In the
second quarter, further progress was made in talks with various
manufacturers with respect to a series order for the new particle sensor,
which monitors the fine-dust pollution in the passenger compartment. The
orders for the current generation of high-quality hands-free microphones
were likewise developing extremely positively. The innovative belt-mic(R)
belt microphone is increasing in popularity and will soon be available in a
further vehicle model. In the second quarter, a smartphone cradle for
motorcycles was globally launched, featuring a wireless charging function.
At the same time, pre-series production commenced for the new generation of
clocks. With the MirrorPilot(R), paragon is also in a position to provide
an important part of the human-machine interface within the automobile.