EQS-News: paragon presents strategy and forecast figures for the next five years
EQS-News: paragon GmbH & Co. KGaA
/ Key word(s): Results Forecast
paragon presents strategy and forecast figures for the next five years
Delbrück, 5 December 2022 - paragon GmbH & Co. KGaA [ISIN DE0005558696] today presented key business planning data for the next five years. On 1 December 2022, the direct supplier to the automotive industry reported the successful sale of its subsidiary paragon semvox GmbH and the good solution in the interests of all semvox employees. Even under the aegis of the new shareholder, it is ensured that all vehicle manufacturers and also non-automotive customers will continue to be served without any cutbacks. In the 2022 financial year, paragon semvox GmbH will generate sales revenues of around EUR 13.5 million, i.e. approx. 8% of paragon's total expected annual sales of EUR 170 million. As the subsidiary paragon semvox GmbH, which represents the "Digital Assistance" business unit, operates largely independently on the market as a software manufacturer, the forthcoming sale will have no impact on paragon's other four business units. "With immediate effect, the business unit Digital Assistance will be treated as a business unit held for sale in the paragon consolidated balance sheet in accordance with IFRS 5," explains paragon CFO Dr Martin Esser. This means that the revenues of this business unit will no longer be reported in the consolidated financial statements. As a result, paragon now expects to report approximately EUR 156.5 million in revenues in the 2022 consolidated financial statements. But already in the coming year, revenues are expected to rise again to EUR 170 million, even without the business unit Digital Assistance. "Despite all the challenges that everyone is suffering from, we are very confident that we will be able to maintain the revenue level of the record year 2022 due to our continued growth in orders," explains Klaus Dieter Frers, founder and Chairman of the Management Board of paragon GmbH, the personally liable partner of paragon GmbH & Co. KGaA. An EBITDA margin of between 12% and 15% is expected for 2023. Even without the business unit Digital Assistance, according to the company's plans, paragon GmbH & Co. KGaA should continue to grow strongly in the future. In the course of the coming years, the management believes that the new business unit Power will become the central sales driver due to large-scale orders for lithium-ion-based starter batteries. These innovative batteries can also be used for the on-board power supply of electric vehicles. According to current planning, the company expects to significantly exceed the EUR 300 million revenue threshold in 2027. At the same time, profitability is expected to increase due to economies of scale, cost savings and price adjustments. "The expected significant reduction in debt will release new forces," Dr Martin Esser elaborates. "In the new plan period 2023 to 2027, we will significantly expand our existing presence in the American market. We still have a lot of untapped potential here, which we have already addressed in a first step by establishing local sales near Detroit," reports Klaus Frers.
About paragon GmbH & Co. KGaA
Listed on the Regulated Market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M., paragon GmbH & Co. KGaA (ISIN DE0005558696) develops, produces and distributes 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 connectivity solutions, as well as high-end acoustic systems in the electronics segment. In the mechanics segment, paragon develops and produces active mobile aerodynamic systems. In the fast-growing automotive market for battery systems, paragon now operates independently with its power business unit following the sale of the Voltabox investment. In addition to its 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) and Limbach (Saarland), as well as in Kunshan (China), Bengaluru (India) and Oroslavje (Croatia). For more information on paragon, visit www.paragon.ag.
Capital Market & Press Contact
paragon GmbH & Co. KGaA
Dr. Martin Esser Bösendamm 11 33129 Delbrück, Germany Phone: +49 (0) 52 50 - 97 62-200 Fax: +49 (0) 52 50 - 97 62-102 Email: [email protected]
05.12.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | paragon GmbH & Co. KGaA |
Bösendamm 11 | |
33129 Delbrück | |
Germany | |
Phone: | +49 (0)5250 97 62 - 0 |
Fax: | +49 (0)5250 97 62 - 60 |
E-mail: | [email protected] |
Internet: | www.paragon.ag |
ISIN: | DE0005558696, DE000A2GSB86, |
WKN: | 555869, A2GSB8, |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1505137 |
End of News | EQS News Service |
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1505137 05.12.2022 CET/CEST