21-08-2023 | Corporate & Ad-hoc news | Financial news | Press releases

paragon reports revenue success and significant debt reduction

Delbrück, 21 August 2023 - paragon GmbH & Co. KGaA [ISIN DE0005558696] today published its half-year report. In the first half of 2023, sales revenues were further increased and at the same time debt was significantly reduced.

• Revenues in the first half-year increased by 7.3% to EUR 86.6 million (previous year: EUR 80.7 million)

• Sale of the Digital Assistance business unit to CARIAD SE completed in the first half of 2023 - final purchase price instalment received in mid-July 2023

• Sale proceeds consistently used to reduce paragon group's debt: CHF bond and interim financing repaid in full, EUR bond reduced - net gearing now at 2.6

• EBITDA of continuing and discontinued operations, taking into account the deconsolidation effect of the Digital Assistance business unit, increases by 76% to EUR 15.7 million (previous year: EUR 8.9 million)

• Outlook for 2023 confirmed: approx. 170 million euros in revenue with EBITDA between 20 and 25 million euros at group level