DGAP-News

Automotive Supplier paragon Exceeds Market Expectations with 10% Increase in Revenue in Third Quarter - Seite 3

On the basis of orders on hand until the end of the year, the Management expects to reach the upper end of the respective forecast ranges for revenue and earnings. This would correspond to automotive revenues of roughly € 120 million and an equivalent EBITDA margin of 12 %. Revenues could now even increase to as much as € 125 million. Due to increased demand, paragon will have run more than 100 extra shifts by the end of 2020. The company is also gradually expanding its capacities.

Meanwhile, the Management is wholly satisfied with the progress of negotiations on the sale of the subsidiary Voltabox. "We are equally focused on finding the best possible solution for Voltabox and on achieving a sale with optimal value in the interests of paragon shareholders," emphasizes Klaus Dieter Frers. "The substantial level of resonance we've found, both in Germany and abroad, is a sign that we can achieve an outstanding combination of the two. We have multiple offers to choose from, and neither paragon nor Voltabox has any cause for haste." The Management is confident that the matter can be concluded before the end of the year.

A new technology, which Voltabox has announced to be presented to the public on December 1, 2020, is playing an increasing role in the bidding contest. The research department of Voltabox has developed an entirely new and revolutionary approach that will turn globally established battery concepts upside-down. Multiple international patents have been filed in order to safeguard this technological leap in battery design. The novel "flow-shape design" stands for making Li-ion batteries simpler, smaller, lighter, safer and substantially more affordable. They will be able to charge more quickly and enable longer ranges. Not least because of this, paragon's management is highly confident in the economic stability and future prospects of Voltabox. "The disruptive flow-shape design is taking Voltabox to the next level and re-establishing Voltabox as a leader in technology," says Klaus Dieter Frers.