Strong revenue growth in the first half of the year
08/22/2012
DGAP-Ad-hoc: Strong revenue growth in the first half of the year
paragon AG / Key word(s): Half Year Results
22.08.2012 08:45
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Delbrück, August 22, 2012: paragon AG continued its impressive year-to-date
operating performance in the second quarter of 2012, with revenue advancing
by a surprisingly strong 12.8% to EUR 37.6 million in the first six months
of the year (prior year: EUR 33.4 million).
Despite expenses to safeguard the future in the amount of EUR 1.3 million
(new patents, new buildings, new production runs as well as new research
and development capacities), the EBIT margin of 13.2% and the EBITDA margin
of 19.2% were on the same high level as in the previous year. Earnings
before interest and tax (EBIT) grew to EUR 5.0 million (prior year: EUR 4.9
million), while earnings before interest, tax, depreciation, and
amortization (EBITDA) rose to EUR 7.2 million (prior year: EUR 7.0
million).
Net income reported in accordance with International Financial Reporting
Standards (IFRS) came to EUR 3.6 million (prior year: EUR 3.6 million), and
earnings per share edged up to EUR 0.88 (prior year: EUR 0.87). paragon's
earnings power becomes even more evident when positive one-off items
totaling EUR 0.8 million in the first half of 2011 are taken into account.
The Company raised its equity-to-assets ratio further in line with
forecasts to 31.4% in the first half of 2012 (prior year: 18.2%).
Interest-bearing liabilities amounted to only EUR 13.4 million (prior year:
EUR 18.2 million), while net debt declined to EUR 5.7 million (prior year:
EUR 8.3 million).
paragon expects its customers in particular and the automotive industry in
general to continue to perform well going forward. Despite the surprisingly
strong increase in revenue during the first six months of 2012 the Managing
Board is sticking to its conservative forecast for the year as a whole,
predicting single-digit percentage revenue growth and earnings (EBIT
margin) in line with 2011 levels.
Portrait
paragon AG has steadily grown to become one of the best-known suppliers to
the automotive industry since its founding in 1988 in the Westphalian town
of Delbrück. Listed on the stock exchange since 2000, paragon uses
innovative solutions that not only improve communication but also make the
driving experience healthier, more comfortable, and more efficient. Every
worker at paragon is passionate about automobiles. Every day they strive to
be inventive, better and unique in all they do. Their dedication goes far
beyond sensors and solutions for automotive interiors, however.
Increasingly, paragon has been embracing more sophisticated systems such as
electric vehicles and kinematics.
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.ag
Email: info@paragon.ag
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.ag
22.08.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: paragon AG
Schwalbenweg 29
33129 Delbrück
Germany
Phone: +49 (0)5250 97 62 - 0
Fax: +49 (0)5250 97 62 - 60
E-mail: investor@paragon.ag
Internet: www.paragon.ag
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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