28-04-2021 | Financial news | Press releases | Corporate & Ad-hoc news

paragon Automotive’s Rapid Growth Continues

Delbrück, Germany, April 27, 2021 – Based on preliminary figures for the Automotive business, paragon [ISIN DE0005558696] has exceeded its own expectations with an increase in revenue of 33% in the first quarter of 2021 compared with the same period in the previous year. From January to March, the Tier 1 supplier generated revenue of € 39.2 million with its automotive customers. The EBITDA margin amounts to 15.4%, which is at the upper end of the forecast range. With a 29% increase in revenue, paragon Automotive has thus clearly exceeded the first uarter of 2019, the year prior to the coronavirus. Based on the good development in customer orders, the Management also expects the second quarter to significantly surpass the reference period from 2019.

  • Further positive development of business situation after strong second half of 2020

  • Revenue in first quarter around 33% over prior year; EBITDA margin increases to 15%

  • Current customer orders around 8% higher than planned

  • Prof. Dr. Lutz Eckstein steps down as Supervisory Board Chairman following appointment to Board of Academic Advisers to the Federal Minister of Transport and Digital Infrastructure – Prof. Dr. Iris Gräßler standing by as successor