22-08-2019 | Financial news | Press releases | Corporate & Ad-hoc news

paragon grows faster than the market in the automotive sector - Cost reduction program to counter negative EBIT

Delbrück, Germany, August 22, 2019 – Today paragon GmbH & Co. KGaA [ISIN DE0005558696] published its Group Interim Report as of June 30, 2019, and confirmed its forecast for the year as a whole.

  • Group revenues increase by 22% to EUR 96 million in the first half of the year

  • Electromobility operating segment once again strongest growth driver with 77% revenue growth

  • EBITDA reaches EUR 5.5 million (previous year: EUR 11.0 million); EBIT at EUR -5.4 million

  • Changed product mix in the automotive business and postponed revenues at Voltabox temporarily impact profitability

  • Extensive cost reduction program initiated