paragon AG ended fiscal year 2011 with better-than-forecast results. Revenue increased by 11.1% to €67.1 million (2010: €60.4 million), and the percentage rise in EBITDA and EBIT was even greater. “We are very satisfied with the past year after having succeeded in additionally improving our financial ratios and widening our spectrum of activities,” stated CEO Klaus Dieter Frers at the financial statements press conference held at the company’s headquarters in Delbrück.
paragon took advantage of the good revenue trend to increase earnings figures even more than sales revenues. EBITDA grew by 26.3% to €13.0 million (2010: €10.3 million), and EBIT climbed an impressive 69.6% to €8.8 million (2010: €5.2 million). Both the EBITDA margin of 19.4% (2010: 16.9%) and the EBIT margin of 13.2% (2010: 8.6%) surpassed the projections made at the start of 2011. Net income reached €5.3 million (2010: €3.8 million), leading to earnings per share of €1.30 (2010: €0.92).
paragon also pushed up equity by 120% to €9.8 million as of December 31, 2011 (2010: €4.5 million). With total assets coming to €41.4 million, the equity-to-assets ratio reached 23.7% (2010: 10.3%). Free liquidity rose to €11.2 million (2010: €6.0 million).
The company has now expanded its spectrum of activities to include systems in addition to its activities in the area of man-machine interfaces, which paragon has been successfully pursuing for many years. At the 2011 International Motor Show (IAA), the company presented a modular system for electromobility that will be certified and available on the market in the fall of 2012. paragon is also becoming involved in autobody kinematics, which includes spoiler systems, convertible roof systems, and other applications to increase vehicle comfort and safety.
Thanks to the company’s high order backlog and numerous new product launches, the Managing Board expects revenues to continue growing in the single-digit percentage range in 2012 and 2013. In terms of earnings figures, paragon aims to maintain the current high margins.
The company has published its full, audited annual report on its website at www.paragon.ag. The Annual General Meeting for fiscal 2011 will take place on Wednesday, May 9, 2012 at 10:00 a.m. at the Delbrück city hall.
