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    DGAP-News  149  0 Kommentare paragon Holds Virtual Annual General Meeting in Delbrück

    DGAP-News: paragon GmbH & Co. KGaA / Key word(s): AGM/EGM
    paragon Holds Virtual Annual General Meeting in Delbrück

    15.09.2020 / 13:41
    The issuer is solely responsible for the content of this announcement.


    paragon Holds Virtual Annual General Meeting in Delbrück

    - A look back at Automotive business in 2019: 16% revenue growth despite a market that has shrunk by 6% and one-time special expenses

    - paragon Automotive is past coronavirus dip - fast V-shaped recovery and promising outlook for the second half of the year

    - Focus on target "The paragon 2021": Software will become increasingly important in the product portfolio

    Delbrück, Germany, September 15, 2020 - paragon [ISIN DE0005558696] held its Annual General Meeting for 2020 today. It was conducted in a virtual format for the first time because of the COVID-19 pandemic. For this virtual format, the showroom in the headquarter in Delbrück was transformed into a temporary television studio. The shareholders of paragon GmbH & Co. KGaA were able to follow the event on the internet and vote on the agenda items via the shareholder portal. "The health of our shareholders, employees and board members has absolute priority - especially in the current situation. Hopefully, this year's format will remain an exception," explains Klaus Dieter Frers, founder and Chairman of the Board of paragon. The share capital of the company was represented with a presence of 51.38%

    paragon achieved significant growth in 2019 in a market environment characterized by a decline in the core business with automotive customers. Revenue at the end of the year was even higher than internal expectations. "Personally, I was not able to find any results in the 2019 annual reports of the relevant companies in the automotive industry that presented such a striking example of a company that has counteracted the market to the extent that paragon did last year," said Klaus Dieter Frers in his speech during the Annual General Meeting. Frers attributes this confirmation of growth against the market trend primarily to the fact that the factors that have recently preoccupied the global automotive industry were not apparent at paragon. "This applies equally to the diesel crisis, the WLTP debate and to the endless trade conflicts." The transformation of the industry towards e-mobility and digitalization, he continued, did not affect paragon negatively because its products do not depend on the respective type of drive. In any case, he noted, paragon can be compared to its competitors only to a limited extent. Frers went on, "We are far from being represented in the same way at every car manufacturer worldwide. This, together with the many products that are still at the beginning of their life cycle, is the reason."

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    DGAP-News paragon Holds Virtual Annual General Meeting in Delbrück DGAP-News: paragon GmbH & Co. KGaA / Key word(s): AGM/EGM paragon Holds Virtual Annual General Meeting in Delbrück 15.09.2020 / 13:41 The issuer is solely responsible for the content of this announcement. paragon Holds Virtual Annual General …