13-11-2019 | Financial news | Press releases | Corporate & Ad-hoc news

Automotive Business Remains a Stable Pillar for paragon – Major Investments in Past Years Pay Off

Delbrück, November 13, 2019 – Today, paragon [ISIN DE0005558696] published the interim consolidated financial statements as of September 30 and provided an outlook for the upcoming fiscal year. Management sees its strategy of orienting the Group toward products and services that make paragon a beneficiary of structural change in the automotive industry as fully vindicated. In fiscal year 2020, the company expects to perform significantly better than the industry again with a revenue increase to € 225 million to € 240 million. At approximately 5% to 7%, the EBIT margin is expected to be in the same range as in 2018.

  • Positive development of paragon Automotive confirmed – increase in third-party revenue of around 8% to nearly € 95 million in the first nine months compared to the prior year and adjusted EBIT margin at 2.9%

  • Early focus on future topics is increasingly making paragon the beneficiary of structural change in the automotive industry

  • Group revenue rises in the first three quarters by 11.6% to € 132.6 million due to persistently strong automotive business

  • Outlook for the 2020 fiscal year: Increase in Group revenue to € 225 million to € 240 million

  • Significant improvement in earnings expected in the coming year: EBITDA margin between 15% and 16% and EBIT margin between 5% and 7%; Free cash flow in the single-digit positive area