paragon AG once again grows faster than the market in 2016 and targets further acceleration - Seite 3

paragon AG's equity increased accordingly by 79% to EUR 35 million (December 31, 2015: EUR 19 million). Given the sharp rise in total assets, the equity ratio increased, as expected, to 30% (December 31, 2015: 21%).

Cash flow from operating activities increased to EUR 17 million (prior year: EUR 13 million) and the cash flow from investing activities dropped to EUR 23 million (prior year: EUR 32 million) due to notably lower investments in property, plant and equipment. Cash and cash equivalents increased to EUR 14 million as a result of the cash capital increase at the beginning of the fourth quarter.

The Management Board continues to expect paragon to grow more quickly than the global automotive industry in fiscal year 2017. Group sales are expected to increase to between EUR 120 million and EUR 125 million in the current fiscal year. An EBIT margin of around 9.0% to 9.5% is expected.

The Electromobility operating segment is expected to contribute about half of the revenue growth, while the remaining revenue growth is predominantly generated by the Electronics operating segment. As of fiscal year 2018, the Electronics operating segment and, to a lesser extent, the Mechanics operating segment are also expected to increasingly contribute to the Group's growth.

The Management Board expects to see an investment volume of around EUR 27 million in the current year. Capitalized development costs are planned to amount to around 45% of the investment total for the current year.

The further significant expansion planned in the Electromobility operating segment is intended to make paragon more independent of macroeconomic factors in the automotive industry and broaden the customer structure.

The annual report and consolidated financial statements from December 31, 2016, are available for download at http://www.paragon.ag/investoren.html.

Company Profile


paragon AG (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, e-mobility and body kinematics. As a direct supplier of the automotive industry, the company's portfolio includes the Electronics operating segment's innovative air-quality sensors, high-end acoustic systems and state-of-the-art display instruments. With the Voltabox subsidiaries, the Group is also active in the rapidly growing Electromobility operating segment with its own lithium-ion battery systems developed in-house. In the Mechanics operating segment, paragon develops and produces adjustable body components such as adaptively extendable spoilers. In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon AG and its subsidiaries operate sites in Suhl (Thuringia, Germany), Nuremberg (Bavaria, Germany), St. Georgen (Baden-Württemberg, Germany) and Bexbach (Saarland, Germany) as well as in Kunshan (China) and Austin, Texas (USA).