EQS-News: paragon confirms half-year figures

paragon confirms half-year figures

At EUR 75.4 million (prior-year period: EUR 86.4 million), sales in the first half of the year were in line with the company's expectations Current sales trend reflects the sale of the starter battery business in autumn 2023 and the slow recovery in customer call-off behavior EBITDA (continuing operations) improved from EUR 8.1 million in the same period of the previous year to EUR 8.5 million thanks to various optimization measures - EBITDA ratio now at 11.3% (same period of the previous year: 9.3%) Earnings after interest and taxes significantly improved from EUR -5.6 million in H1/2023 to EUR -1.0 million in the first half of 2024 - slightly positive result expected for the year as a whole Management anticipates a moderate upturn in the automotive industry in the second half of the year.

 

Delbrück, August 21, 2024 - paragon GmbH Co. KGaA [ISIN DE0005558696] today published its interim report as of June 30, 2024, confirming in full the preliminary half-year figures already communicated in July.

paragon generated revenue of EUR 75.4 million in the first six months of the 2024 financial year (previous year: EUR 86.4 million). As already reported, the reduction in revenue compared to the same period of the previous year was expected by the management and is mainly due to the sale of the starter battery business in autumn 2023 and the slow recovery in customer call-off behavior.

Alongside revenue growth, increasing profitability is the most important target for paragon. Here, paragon made further progress in the first half of 2024. EBITDA in the continuing operations increased from EUR 8.1 million in the same period of the previous year to EUR 8.5 million in the first half of 2024 despite a reduction in revenue. As a result, the EBITDA ratio rose from 9.3% in the first half of 2023 to 11.3% in the first half of 2024.

Due to the significant reduction in debt and the elimination of the one-off costs of interim financing from the first half of 2023, financing expenses also fell significantly from EUR 7.4 million in the same period of the previous year to EUR 3.2 million in the reporting period. As a result, earnings after interest and taxes from continuing operations improved to EUR -1.0 million after EUR -5.6 million in the same period of the previous year.

The company's consolidated interim report as at June 30, 2024 is available for download at https://ir.paragon.ag/

 

About paragon GmbH Co. KGaA

paragon GmbH Co. KGaA (ISIN DE0005558696), which is listed on the regulated market (Prime Standard) of Deutsche Börse AG in Frankfurt am Main, develops, produces and sells pioneering solutions in the fields of automotive electronics, body kinematics and electromobility. The portfolio of the market-leading direct supplier to the automotive industry includes innovative air quality management, modern display systems and high-end acoustic systems in the Electronics segment. In the Mechanics segment, paragon develops and produces active mobile aerodynamic systems. In the rapidly growing automotive market for battery systems, paragon's Power division supplies battery management systems and traction batteries.

In addition to the company headquarters in Delbrück (North Rhine-Westphalia), paragon GmbH Co. KGaA and its subsidiaries have sites in Suhl (Thuringia), Landsberg am Lech and Nuremberg (Bavaria), St. Georgen (Baden-Württemberg), Limbach (Saarland) and in Kunshan (China), Detroit (USA), Bengaluru (India) and Oroslavje (Croatia).

You can find more information about paragon at www.paragon.ag.

Contact Capital Market Press

 

paragon GmbH Co. KGaA

Dr. Martin Esser

Bösendamm 11

D-33129 Delbrück

Phone: +49 (0) 52 50 - 97 62-200

Fax: +49 (0) 52 50 - 97 62-102

E-Mail:investor@paragon.ag