paragon comfortably outperforms own forecasts

paragon AG  / Key word(s): Final Results

15.03.2011 08:21

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Delbrück, March 15, 2011: paragon AG has comfortably outperformed its
Managing Board's forecasts for the full 2010 financial year, which
comprised two short fiscal years.

During the period from June 1 to December 31, 2010, paragon continued along
the successful path that had started at the beginning of the year,
increasing its sales by 16.5 percent to EUR35.2 million compared with
EUR30.2 million in the corresponding period of 2009. The growth rates
reported for its earnings figures - adjusted for the effects of
restructuring - during this seven-month period were significantly higher.
Adjusted EBIT surged by 204.4 percent to EUR3.2 million (corresponding
period of 2009: EUR1.1 million), while adjusted EBITDA jumped by 56.0
percent to EUR6.2 million (corresponding period of 2009: EUR4.0 million).

paragon's overall performance in 2010 turned out better than expected. In
May 2010, CEO Klaus Dieter Frers had predicted sales of EUR58.0 million and
adjusted EBITDA of EUR7.5 million for the full financial year; in December
he raised his forecast for adjusted EBITDA to at least EUR9.0 million. In
the end, paragon comfortably outperformed these forecasts by generating
sales of EUR60.4 million and adjusted EBITDA of EUR10.2 million. The
Company increased its sales by 14.7 percent and boosted its adjusted EBITDA
by 41.0 percent compared with 2009.

paragon will present its report for the short fiscal year from June 1 to
December 31, 2010 as planned on the occasion of the financial statements
press conference to be held on March 29, 2011.

Portrait

paragon AG, listed in the Prime Standard of Deutsche Börse in Frankfurt
develops, produces and markets innovative solutions in the field of
automotive electronics. The portfolio of this direct supplier to the
automotive industry includes products in the field of air quality, power
train, acoustics, cockpit, stepper motors, media interfaces and controls.
One excellent product is the undoubtedly world leading air quality sensor,
AQS. Apart from its headquarters in Delbrück (North Rhine-Westphalia) there
are branches in Suhl (Thuringia), Nuremberg (Bavaria) and St. Georgen
(Baden-Württemberg). For the fiscal year 2010, paragon, with more than 300
employees, is aiming to generate sales of EUR58 million.

Contact

paragon AG
Schwalbenweg 29
33129 Delbrück
Tel.: +49 (0) 52 50 - 97 62-0
Fax: +49 (0) 52 50 - 97 62-60
Internet: www.paragon-online.de
Email: info@paragon-online.de

Press officer
Matthias Hack
Tel.: +49 (0) 52 50 - 97 62-141
Mobile: +49 (0) 162 1010724
Fax: +49 (0) 52 50 - 97 62-60
Email:  matthias.hack@paragon-online.de


15.03.2011 DGAP's Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases.
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Language:     English
Company:      paragon AG
              Schwalbenweg 29
              33129 Delbrück
              Deutschland
Phone:        +49 (0)5250 97 62 - 0
Fax:          +49 (0)5250 97 62 - 60
E-mail:       investor@paragon-online.de
Internet:     www.paragon-online.de
ISIN:         DE0005558696
WKN:          555869
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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