DGAP-News

paragon Exceeds Revenue Forecast for 2020 and Wants to Surpass Pre-Pandemic Levels in the Current Year - Seite 3

Due to the growing number of requests from automotive manufacturers, the Management has increased the forecast for the 2021 fiscal year announced in December of last year from € 140 million to € 145 million, which is higher than the 2019 level of revenue. paragon Automotive expects an EBITDA margin of 12-15%. Free cash flow should grow to the double-digit million range and be between € 10 and 12 million. The Management assumes that any supply shortages for components will have a low impact, if any.

Meanwhile, the Management of paragon is unhappy with the share price performance of both issued bonds. They believe that the price level does not reflect the robustness of the business model or the good performance in critical times. The company plans to reduce the term by a year in relation to the Swiss bond of over CHF 35 million. Concurrently, the bond will be paid back successively in multiple partial payments until the final payment in April 2023 to reduce the company's debt ratio. paragon recently declared to the Swiss Stock Exchange that it will repurchase bonds for investment and redemption purposes with immediate effect and without time limit. No amount has been set for these partial repurchases.

The company is now waiting for the results of the planned repurchase of Swiss obligations and will then consider whether a partial repurchase of the German bond makes sense. If the Management should decide in favor of this, the conditions will be disclosed in a timely manner.

The complete, audited consolidated financial statements and the company's annual report are expected to be published on April 27, 2021. Further information about paragon GmbH & Co. KGaA can be found at www.paragon.ag.

 

Profile: paragon GmbH & Co. KGaA

paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company's portfolio includes the Electronics operating segment's innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. In addition, the Group holds a stake in Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M., which is active in the rapidly growing electromobility segment with cutting-edge lithium-ion battery systems developed inhouse.