DGAP-News

paragon with good start to the year and growing order backlog - outlook specified

DGAP-News: paragon GmbH & Co. KGaA / Key word(s): Quarter Results paragon with good start to the year and growing order backlog - outlook specified 16.05.2022 / 07:30 The issuer is solely responsible for the content of this announcement. paragon with good start to the year and growing order backlog - outlook specified

- First-quarter sales up 6.3% to EUR 41.7 million (prior-year quarter: EUR 39.2 million) despite carmakers' supply chains torn by war

- Current order backlog increased by approx. 17 %

- Long-term refinancing secured

- Outlook for 2022 lifted to upper end of target, now at EUR 165 million in sales with an EBITDA margin of more than 15%

- paragon СEO-Frers: "The financials demonstrate the innovative strength and resilience of our business model. Regardless of the challenging market conditions, we now expect sales at the upper end of the previous forecast."

 

Delbrück, May 16, 2022 – paragon GmbH & Co. KGaA [ISIN DE0005558696] managed a solid first quarter of 2022 despite the production interruptions at many European car manufacturers caused by the war in Ukraine. According to the latest quarterly report, paragon increased its consolidated sales by 6.3% to EUR 41.7 million, contrary to the general industry trends.

The growth illustrates the encouraging trend in all five business units; the Digital Assistance unit registered an above-average increase of 16.0 % to 2.7 million euros. In particular, the latest major orders for the Digital Assistance (for the geni:OS voice assistance system in the amount of 40 million euros) and Sensors (for the DUSTPROTECT electrical anti-virus filter in the amount of 45 million euros) business units have caused the order backlog (as of May 1, 2022) to grow by around 17% to approximately 630 million euros by the end of 2026; a year ago, the order backlog ("booked business") for the next 55 months was approximately 540 million euros.