UK Markets closed

2021 financial statement confirms growth course - Martin Esser appointed to the Management Board as CFO

  • Oops!
    Something went wrong.
    Please try again later.
·5-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

DGAP-News: paragon GmbH & Co. KGaA / Key word(s): Annual Report
2021 financial statement confirms growth course - Martin Esser appointed to the Management Board as CFO
29.04.2022 / 17:18
The issuer is solely responsible for the content of this announcement.

2021 financial statement confirms growth course - Martin Esser appointed to the Management Board as CFO

- Group sales in 2021 up 15.5% to EUR 146.9 million (2020: EUR 127.2 million) - fully meeting 2021 sales forecast despite temporary supply chain problems at automotive manufacturers

- EBITDA margin at 13.6% (previous year: 10.8%) within target range for 2021

- Sales drivers particle sensors, display instruments, and digital assistance systems

- Further reduction of debt through partial repayment of CHF bond in April 2022

- Full-year forecast reaffirmed: 2022 sales between EUR 155 and 165 million expected with EBITDA margin > 15%

Delbrück, April 29, 2022 - paragon GmbH & Co. KGaA [ISIN DE0005558696] has continued its impressive growth course in the difficult automotive industry environment in 2021 and appointed the previous Head of Finance Dr. Martin Esser to the Management Board as CFO at the beginning of April. According to the financial statement presented today, paragon has fully achieved its sales and earnings targets for 2021. This strong result is based on forward-looking management and an innovative product portfolio. Despite a very challenging environment that included the pandemic, the semiconductor crisis, and the temporary supply chain problems of carmakers, paragon thus grew profitably. Sales increased by 15.5% to EUR 146.9 million (previous year: EUR 127.2 million). The EBITDA margin increased to a good 13.6% in 2021 (previous year: 10.8%).

Klaus Dieter Frers, founder and CEO of the general partner of paragon GmbH & Co. KGaA, remarks: "I am pleased with the strong numbers. 2021 was a groundbreaking year for us. With its consistent focus on promising product innovations, paragon has significantly outperformed the market." Sales were driven by the Interior and Digital Assistance business units as well as the continuously high demand for air-quality management solutions from the Sensor Technology unit.

Dr. Martin Esser, who was appointed to the Management Board in the newly created position of Chief Financial Officer (CFO) on April 1, has played a key role in paragon's ongoing development. For over two years, the economist has been in charge of Finance, Purchasing, IT and HR at paragon. "Dr. Esser performed his duties in the recent challenging years with great poise and care for the benefit of paragon. I look forward to continuing to work closely with him," said Klaus Dieter Frers. Before joining paragon, Dr. Esser was CFO and managing director of an automotive supplier for more than nine years. Prior to this, he worked as an auditor and tax consultant at a renowned auditing firm.

Company orders for fiscal year 2022 are already looking good: Management is forecasting sales revenues between EUR 155 and 165 million, which keeps paragon on its organic growth course. In a further sign of growth, preliminary figures for the first quarter of 2022 show sales up around 5%, despite the many challenges. The company will present its complete quarterly figures on May 16, 2022. A further improvement in the EBITDA margin of more than 15% is targeted for the full year. At the same time, paragon continues to steadily reduce its debt. For example, the CHF bond was prematurely redeemed in April 2022 by a further CHF 8.75 million. The amount still outstanding after this redemption is CHF 21 million.

Profile: paragon GmbH & Co. KGaA

paragon GmbH & Co. KGaA (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, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company's portfolio includes the Electronics operating segment's innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. In the rapidly growing automotive market for battery systems, paragon now acts independently with the Business Unit Power after the sale of the Voltabox share.

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

Additional information about paragon can be found at www.paragon.ag.

 

Capital Market & Press Contact

paragon GmbH & Co. KGaA

Mirko Wollrab
M: +49 172 830 3600
mailto: mirko.wollrab@corecoms.de
Corecoms Consulting GmbH & Co. KG
Goethestraße 29
60313 Frankfurt am Main


29.04.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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:

investor@paragon.ag

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:

1340309


 

End of News

DGAP News Service

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting