DGAP-News
paragon AG Continues Growing in Third Quarter
DGAP-News: paragon AG / Key word(s): Interim Report/9-month figures
paragon AG Continues Growing in Third Quarter
18.11.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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paragon AG Continues Growing in Third Quarter
18.11.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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paragon AG Continues Growing in Third Quarter
- Consolidated revenue up 9.4 percent to EUR 73.7 million (prior year:
EUR 67.4 million)
- Electromobility continues as greatest driver of growth with a 9.3
percent share of revenue (prior year: 5.2 percent)
- EBITDA increases 11.5 percent to EUR 10.2 million (prior year: EUR 9.1
million)
- EBIT margin rises slightly to 6.9 percent (prior year: 6.8 percent)
- Investments decrease 34.3 percent to EUR 16.7 million (prior year: EUR
25.5 million)
- Revenue and earnings forecast for the current fiscal year confirmed
Delbrück, Germany, November 18, 2016 - paragon AG [ISIN DE0005558696]
published its interim report for the first nine months through September
30, 2016, today and confirmed its forecast for the current fiscal year.
In the first nine months of this year, the company generated consolidated
revenue of EUR 73.7 million (prior year: EUR 67.4 million). Growth in the
third quarter was again primarily driven by the dynamic performance of the
Electromobility division. The cost of material developed subproportionally,
increasing 8.4 percent to EUR 40.8 million (prior year: EUR 37.6 million).
The material input ratio amounted to 55.3 percent (prior year: 55.9
percent). Gross profit rose to EUR 43.2 million (prior year: EUR 40.2
million), which corresponds to a gross profit margin of 51.4 percent (prior
year: 51.7 percent).
"Electromobility is clearly our current largest driver of growth," says
Klaus Dieter Frers, founder and Chief Executive Officer of paragon AG.
"With the ongoing developments and existing orders for new products in the
automotive industry, we will see a significant atmosphere of growth in the
other divisions starting in 2018."
With a revenue growth for the first nine months of 96.8 percent, totaling
EUR 6.9 million (prior year: EUR 3.5 million), production at the Voltabox
subsidiaries in Delbrück, Germany, and Austin, Texas, USA, largely focused
on battery modules for forklift trucks. The gradual launch of a new highly
automated production line in Delbrück at the end of the year was a key
operational focus in the third quarter. The delivery of battery systems for
trolleybuses in Lucerne, Switzerland, was also completed. At the same time,
- Consolidated revenue up 9.4 percent to EUR 73.7 million (prior year:
EUR 67.4 million)
- Electromobility continues as greatest driver of growth with a 9.3
percent share of revenue (prior year: 5.2 percent)
- EBITDA increases 11.5 percent to EUR 10.2 million (prior year: EUR 9.1
million)
- EBIT margin rises slightly to 6.9 percent (prior year: 6.8 percent)
- Investments decrease 34.3 percent to EUR 16.7 million (prior year: EUR
25.5 million)
- Revenue and earnings forecast for the current fiscal year confirmed
Delbrück, Germany, November 18, 2016 - paragon AG [ISIN DE0005558696]
published its interim report for the first nine months through September
30, 2016, today and confirmed its forecast for the current fiscal year.
In the first nine months of this year, the company generated consolidated
revenue of EUR 73.7 million (prior year: EUR 67.4 million). Growth in the
third quarter was again primarily driven by the dynamic performance of the
Electromobility division. The cost of material developed subproportionally,
increasing 8.4 percent to EUR 40.8 million (prior year: EUR 37.6 million).
The material input ratio amounted to 55.3 percent (prior year: 55.9
percent). Gross profit rose to EUR 43.2 million (prior year: EUR 40.2
million), which corresponds to a gross profit margin of 51.4 percent (prior
year: 51.7 percent).
"Electromobility is clearly our current largest driver of growth," says
Klaus Dieter Frers, founder and Chief Executive Officer of paragon AG.
"With the ongoing developments and existing orders for new products in the
automotive industry, we will see a significant atmosphere of growth in the
other divisions starting in 2018."
With a revenue growth for the first nine months of 96.8 percent, totaling
EUR 6.9 million (prior year: EUR 3.5 million), production at the Voltabox
subsidiaries in Delbrück, Germany, and Austin, Texas, USA, largely focused
on battery modules for forklift trucks. The gradual launch of a new highly
automated production line in Delbrück at the end of the year was a key
operational focus in the third quarter. The delivery of battery systems for
trolleybuses in Lucerne, Switzerland, was also completed. At the same time,
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