EQS-News

paragon presents key figures for 2024 and provides an outlook for the next five years

EQS-News: paragon GmbH & Co. KGaA / Key word(s): Forecast paragon presents key figures for 2024 and provides an outlook for the next five years 11.12.2023 / 07:31 CET/CEST The issuer is solely responsible for the content of this announcement. paragon presents key figures for 2024 and provides an outlook for the next five years

• Revenue expected to be around EUR 165 million in the coming year
• EBITDA of EUR 18 to EUR 20 million targeted
• Start of own representation in the American market expected for Q2/2024
• Successful debt reduction frees up resources for product initiative
• Major orders initiated offer potential for exceeding the EUR 300 million sales threshold in the coming years

 

Delbrück, December 11, 2023 - paragon GmbH & Co. KGaA [ISIN DE0005558696] today presented framework data for its business planning for the coming year and provided an outlook for the expansion of its business activities in the coming years.

In the 2024 financial year, the direct supplier to the automotive industry plans to generate revenue of around EUR 165 million. This takes into account the fact that customer demand has recently normalized after working off the high order backlog of vehicle orders resulting from material bottlenecks at car manufacturers. paragon expects this market phase to continue in the coming months and demand not to pick up again before the end of the second quarter of the coming year.

EBITDA of between EUR 18 and EUR 20 million is expected in 2024; this takes into account the fact that there will be no one-off financial effects from the sale of the subsidiary paragon semvox GmbH and assets of the Power business unit in the coming year. However, the rationalization successes of this year will take full effect in 2024 and sustainably strengthen profitability.

On November 6, 2023, paragon launched an exchange-based bond buyback program for EUR 20.2 million. The buyback program runs until July 5, 2025 and replaces the further partial redemption on January 5, 2024 in accordance with the bond terms and conditions amended on March 10, 2022. This buyback obligation was triggered by the successful completion of the sale of paragon semvox GmbH in accordance with the current bond terms and conditions.