21-10-2020 | Financial news | Press releases | Corporate & Ad-hoc news

Automotive Supplier paragon Exceeds Market Expectations with 10% Increase in Revenue in Third Quarter

Delbrück, Germany, October 21, 2020 – paragon [ISIN DE0005558696] presented preliminary figures today for the third quarter of 2020 of its automotive business. These show that the company, in contrast with the competition, has been able to substantially increase its revenues from the automotive business in the past three months relative to the same quarter of the previous year. The operating business has thus reliably confirmed the recovery which has been emerging for months following the temporary lockdown. The earnings benefits for paragon from the effects of the efficiency program are also increasing. Publication of the interim financial report for the third quarter is being moved forward to October 30.

  • Revenues and earnings of automotive business for the whole year expected to reach
    upper end of the forecast range

  • Automotive  revenue  increases  by  roughly  10%  in  third  quarter  –  revenues  of  up  to
    € 125 million possible for whole year

  • Digital Assistance grows by 75% in Q3; Sensors by 16.5%, Kinematics by 15% 

  • paragon Automotive EBITDA margin of 12% for Q3 nearly twice Q2 figure; continued
    improvement anticipated in Q4

  • 9-month figures reflect success of the efficiency program in the paragon core business
    with cash flow of € 8.3 million and free cash flow of € 2.7 million

  • Revolutionary  new  technology  from  Voltabox  heats  up  competition  among  bidders;
    multiple offers received for the acquisition of paragon’s stake

  • Publication of the paragon Group’s final quarterly figures moved forward to October 30