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DGAP-News: paragon GmbH & Co. KGaA / Key word(s): 9 Month figures
paragon Confirms Q3 Figures - Clear Focus on Fast-Growing Automotive Business
- Preliminary figures confirmed: Automotive business revenue after nine months at € 109.7 million (+30.8% compared to the prior year)
- At € 34.0 million, revenue in Q3/2021 remained at the prior year's high level despite the reduced production figures of automotive manufacturers (+10.1% vs. Q3/2019)
- EBITDA doubled after nine months compared to the prior year - paragon's EBITDA margin within previously communicated target range for 2021 at 13.6%
- Clear focus on core automotive business after successful sale of the Voltabox stake
- Debt reduction of the paragon Group will continue according to plan
Delbrück, Germany, November 22, 2021 - paragon GmbH & Co. KGaA [ISIN DE0005558696] presented today the Group interim report as of September 30, 2021, in which it confirmed the previously communicated preliminary figures. Accordingly, the company proved to be very robust both in terms of revenue development and profitability despite the reduced production figures of automotive manufacturers in the third quarter. Through the completed sale of the stake in Voltabox, the focus of paragon is now completely on the successful automotive business.
"In the third quarter of 2021, paragon demonstrated its resilience in a difficult market environment," declares Klaus Dieter Frers, founder and CEO of paragon. "This way, the revenue of paragon was able to remain at the high level of the same quarter of the prior year despite the clearly reduced production figures of automotive manufacturers."
In the third quarter of 2021, paragon's revenue totaled € 34 million. Therefore, quarterly revenue slightly exceeded the revenue in the third quarter of 2020 by 0.6% (€ 33.8 million) and was considerably higher than in Q3/2019 (+10.1%).
After nine months, revenue amounted to € 109.7 million and therefore 30.8% higher than the revenue in the first nine months of 2020 (€ 83.8 million). Our top sellers were the innovative products in the field of air quality management (Sensors operating segment) and the instruments product group (Interior operating segment), which were able to increase their revenue compared to the prior year by 52.0% and 28.7%, respectively.
After the first nine months, EBITDA amounted to € 15.0 million and therefore doubled compared with the same period last year (€ 7.5 million). In percentage terms, EBITDA after the first nine months was at 13.6% (prior year: 9.0%) and therefore within the previously communicated range of 12 to 15%.
"In addition to the nomination for the first large-scale production order of our electrostatic DUSTPROTECT virus filter in the Sensors operating segment, we are especially proud to have won several orders in the Kinematics operating segment for our adaptive spoilers in the Chinese market," explains Dr. Matthias Schöllmann, Managing Director of Automotive. "These orders will enable us to further reinforce our position as the market leader for spoiler systems."
About paragon GmbH & Co. KGaA
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 and Nuremberg (Bavaria, Germany), St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China), Bangalore (India) and Oroslavje (Croatia).
Additional information about paragon can be found at www.paragon.ag.
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22.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
paragon GmbH & Co. KGaA
+49 (0)5250 97 62 - 0
+49 (0)5250 97 62 - 60
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
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