EQS-News

paragon confirms nine-month figures

EQS-News: paragon GmbH & Co. KGaA / Key word(s): 9 Month figures paragon confirms nine-month figures 13.11.2023 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. paragon confirms nine-month figures

• Revenue from continuing operations increases to EUR 122.0 million in the first nine months (previous year: EUR 118.6 million)
• EBITDA from continuing operations grows to EUR 16.3 million in the first nine months (previous year: EUR 8.5 million)
• Asset deal with Clarios leads to positive earnings contribution and reduces debt
• Debt (bank and bond liabilities less cash and cash equivalents) down to EUR 49.0 million (end of 2019: EUR 121.3 million)
• Positive net profit of EUR 4.4 million after nine months leads to earnings per share of EUR 0.97
• Bond buyback program launched
• Development work for vehicle manufacturer ElectricBrands AG proceeding according to plan

 

 

Delbrück, November 13, 2023 - paragon GmbH & Co. KGaA [ISIN DE0005558696] today published its interim report as of September 30, 2023, confirming the nine-month figures already communicated in October. paragon increased its revenue in the first nine months of 2023 to EUR 122.0 million (previous year: EUR 118.5 million) and at the same time further reduced its net debt.

 

The 2.9% increase in sales in the first nine months of the 2023 financial year is slightly lower than in the same quarters of the previous year due to the scheduled discontinuation of a sensor product in summer 2023 and extended plant vacations at car manufacturers. Overall, automotive manufacturers' production has normalized somewhat in recent months after working off high order backlogs.

 

paragon generated EBITDA from continuing operations of EUR 16.3 million in the first nine months of 2023; this includes the sale of production facilities to Clarios, the world's largest manufacturer of starter batteries, for a mid-single-digit million amount. This is an increase of 90.9% compared to the same period of the previous year (EUR 8.5 million). EBITDA from discontinued operations (including the effect from the deconsolidation of paragon semvox GmbH) amounted to EUR 7.6 million, meaning that the paragon Group's total EBITDA after nine months amounted to EUR 23.8 million (prior-year period: EUR 12.0 million).