paragon GmbH & Co. KGaA
ISIN: DE0005558696
WKN: 555869
12 November 2024 07:00AM

EQS-News: paragon improves Earnings and Cash Flow despite Decline in Revenue

paragon GmbH & Co. KGaA · ISIN: DE0005558696 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 2027039

EQS-News: paragon GmbH & Co. KGaA / Key word(s): 9 Month figures
paragon improves Earnings and Cash Flow despite Decline in Revenue

12.11.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


paragon improves Earnings and Cash Flow despite Decline in Revenue

  • Sales revenue of EUR 106.3m (previous year: EUR 122.0m) in the first nine months of the 2024 financial year 12.9% lower than in the same period of the previous year
  • Consistent countermeasures since the beginning of the year enable balanced result in the third quarter - breakeven achieved 
  • EBITDA of EUR 12.9m in the first nine months despite market challenges (previous year: EUR 16.3m); EBITDA margin of 12.1% (previous year: 13.3%) 
  • Cash flow from operating activities increased to EUR 8.1m in the reporting period (previous year: EUR -5.6m)
  • The upturn in the automotive industry expected by the management has not yet materialized; call-offs remain at the level of previous months, but no further deterioration 
  • Sales expectations for 2024 as a whole therefore now at EUR 135 to 140m 
  • According to the management, numerous cost-cutting measures will enable the EBITDA forecast for 2024 of EUR 18 to 20m to be achieved at the upper end of expectations
  • Earnings after interest and taxes still expected to be slightly positive for 2024 as a whole
  • paragon expects a significant increase in net income for the 2025 financial year with stable to slightly growing revenue


Delbrück, November 12, 2024 - paragon GmbH & Co. KGaA [ISIN DE0005558696] today announced figures for the first nine months. The decline in revenue following last year's sale of the starter battery business in conjunction with reduced customer call-offs has continued almost linearly. However, the breakeven point was reached in the third quarter of 2024 thanks to numerous cost-cutting measures, with balanced earnings before interest and taxes. The management confirms the previous EBITDA forecast of EUR 18 to 20m for 2024 as a whole and now expects to reach the upper end of expectations.

In the first nine months of 2024, paragon generated revenue of EUR 106.3m (previous year: EUR 122.0m). This reflects both the sale of the starter battery business in fall 2023 and the reduced call-off orders from paragon's customers. Although the latter have not recovered as expected since the beginning of the year, they have not deteriorated further. paragon reacted very early and consistently and adjusted capacities in addition to numerous cost-cutting measures.

EBITDA in the first nine months amounted to EUR 12.9m (previous year: EUR 16.3m) despite the market challenges; EBITDA margin was 12.1% (previous year: 13.3%).  

In particular, reaching breakeven in net income in the third quarter of 2024 is a turnaround. Cash flow from operating activities increased to EUR 8.1m in the reporting period (previous year: EUR -5.6m).

Net debt (bank and bond liabilities less cash and cash equivalents) remains almost unchanged at EUR 57.6m (end of 2023: EUR 57.7m).

Sales expectations must be adjusted from EUR 160 to 165m to EUR 135 to 140m due to the unchanged call-off behavior of customers to date. The management sees the sustainable achievement of a positive net profit and a high operating cash flow, even with lower sales, as an important contribution to the company's resilience. As a result of the numerous improvement measures that are increasingly taking effect, paragon now expects to meet its previous EBITDA forecast of EUR 18 to 20m for the full year 2024 at the upper end of the range and to continue to generate slightly positive earnings after interest and taxes.

For the 2025 financial year, revenue is currently expected to remain stable or grow slightly, with a significant increase in net profit, as the optimization measures implemented take full effect. Any plant closures by car manufacturers will not have a negative impact on paragon.

In addition to increasing profitability, the focus will increasingly be on expanding sales activities in China, the USA and India as well as developing new products for the automotive industry and other sectors. The licensing of the "TELEFUNKEN" brand will lead to sales and profits from 2025.

 

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

paragon GmbH & Co. KGaA

Klaus Dieter Frers

Bösendamm 11

D-33129 Delbrück

Phone: +49 (0) 52 50 - 97 62-100

Fax: +49 (0) 52 50 - 97 62-102

 E-Mail:investor@paragon.ag

Press contact

Brigitte Frers

Bösendamm 11

D-33129 Delbrück

Phone: +49 (0) 52 50 - 97 62-142

Fax: +49 (0) 52 50 - 97 62-102

 E-Mail:info@paragon.ag

 



12.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: paragon GmbH & Co. KGaA
Bösendamm 11
33129 Delbrück
Germany
Phone: +49 (0)5250 9762 - 0
Fax: +49 (0)5250 9762 - 102
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: 2027039

 
End of News EQS News Service

2027039  12.11.2024 CET/CEST

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Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 187,38 192,19 144,98 146,92 160,32 161,65 138,00
EBITDA1,2 30,29 -8,37 -10,49 17,46 11,57 17,67 19,40
EBITDA-Margin3 16,17 -4,36 -7,24 11,88 7,22 10,93 14,06
EBIT1,4 14,83 -119,95 -49,15 0,78 -3,05 1,05 2,80
EBIT-Margin5 7,91 -62,41 -33,90 0,53 -1,90 0,65 2,03
Net Profit (Loss)1 3,37 -123,52 -44,67 -11,42 -3,37 -3,81 -5,50
Net-Margin6 1,80 -64,27 -30,81 -7,77 -2,10 -2,36 -3,99
Cashflow1,7 -53,48 -14,14 18,76 13,71 12,90 -6,16 0,00
Earnings per share8 0,52 -18,29 -6,14 -2,52 -0,93 -0,84 -1,20
Dividend per share8 0,25 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: Rödl & Partner

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
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Paragon
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
555869 DE0005558696 GmbH & Co. KGaA 10,41 Mio € 29.11.2000 - 9F3CQG4X+XC
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
14,38 40,43 0,36 -0,83 -2,55 -1,69 0,06
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,00 0,00 0,00 0,00%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
12.06.2025 07.05.2025 19.08.2025 12.11.2024 30.04.2025
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
+15,58%
2,30 €
ATH 95,91 €
+15,75% -18,90% -40,10% -38,99% -69,74%

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