24-08-2021 | Financial news | Press releases | Corporate & Ad-hoc news

paragon Automotive confirms robust operational performance

Delbrück, Germany, August 24, 2021 – Today, paragon [ISIN DE0005558696] published its half-year report as of June 30, 2021, revealing revenue growth in the Automotive business of more than 50% compared to the prior-year period. The top tier supplier to the automotive industry is benefiting from its comprehensive product and technology portfolio. The DUSTDETECT® particle sensor and new products in the Cockpit and Acoustics departments are enjoying sustained high demand. The accumulated revenue from the Electronics and Mechanics (paragon Automotive) operating segments comes to € 75.7 million at the end of the first half-year (prior year: € 50.0 million). With an EBITDA of € 11.2 million (prior year: € 3.4 million) in the first half of the year, the company confirms the sustained effectiveness of the measures taken to improve results.

  • Increase in Automotive business revenue by 51.3% compared to the first half of pandemic year 2020; increase by 18.3% compared to the first half of 2019

  • High product demand in Sensors and Interior business units – in Digital Assistance business unit, leap in revenue of 127.9% in the first half-year

  • EBITDA margin of 14.8% at upper end of expectations (prior year: 6.8%)

  • Chip shortage still under control – safety stocks ensure customers can be reliably supplied

  • Sale of stake in Voltabox now imminent

  • Forecast for the fiscal year substantiated: revenue of around € 145 million with an EBITDA margin between 12 and 15%, free cash flow at around € 12 million