paragon AG publishes final 2014 consolidated annual financial statements
03/11/2015
DGAP-News: paragon AG publishes final 2014 consolidated annual financial statements
DGAP-News: paragon AG / Key word(s): Final Results
2015-03-11 / 15:00
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paragon AG publishes final 2014 consolidated annual financial statements
- Key figures right at top of forecast range
- EBIT margin of 7.9% and EBIT of EUR 6.2 million
- Group revenues clearly headed for EUR 100 million in 2015 forecast
Delbrück, March 11, 2015 - paragon AG generated consolidated revenues of
EUR 79.0 million in fiscal 2014, up from EUR 73.9 million in the previous
year. Adjusted EBIT amounted to EUR 9.2 million and the adjusted EBIT
margin was 11.7%. Unadjusted EBIT for the past fiscal year totaled EUR 6.2
million with a corresponding EBIT margin of 7.9%. Earnings were thus right
at the top of the range estimated in the preliminary figures published in
February. In the previous year, EBIT amounted to EUR 7.9 million resulting
in an EBIT margin of 10.7%.
Comments Klaus Dieter Frers, CEO of paragon AG: "Given the high volume of
investment in the past year, these are excellent results for us. Not just
that, the foreseeable course of business and takeover of SphereDesign GmbH
now make the EUR 100 million mark absolutely realistic as a revenue target
for the current fiscal year 2015. Driven by positive developments in our
business segments this substantial growth is set to continue in the years
ahead as well."
In particular, revenues in the Sensors segment grew from EUR 27.6 million
to EUR 31.3 million while revenues in the Acoustics division rose from EUR
11.7 million to EUR 14.5 million. The Cockpit segment also posted slight
growth from EUR 27.3 million to EUR 27.5 million. The new Body Kinematics
division increased its revenues from EUR 3.5 million to EUR 3.7 million. In
fiscal 2013, the Electromobility segment had reported revenues of EUR 3.8
million mainly resulting from development revenues. The two subsidiaries
created out of this segment, Voltabox Deutschland GmbH and Voltabox of
Texas, Inc., generated total revenues of EUR 2.1 million from various
production start-ups in the past fiscal year.
Remarks Klaus Dieter Frers: "For Electromobility and Voltabox, 2015 will be
a special year one in which product revenue will really take off. We are
already working hard on new important projects and co-operations and are
confident that we will soon be able to report further success stories. In
the years ahead, we will see very dynamic developments here."
Key earnings figures outstripped expectations in the past fiscal year.
Adjusted EBITDA amounted to EUR 13.5 million (prior year: EUR 12.5 million)
thus reflecting the company's pleasing operating performance, resulting in
an EBITDA margin of 17.1% (prior year: 16.9%). Unadjusted EBITDA totaled
EUR 10.5 million with an EBITDA margin of 13.3%. Annual net income came in
at EUR 2.8 million as against EUR 3.9 million in the previous year.
Finally, earnings per share amounted to EUR 0.67 compared with EUR 0.96
last year.
For fiscal year 2015, the Managing Board now expects consolidated revenues
about EUR 100 million. Alongside a strong performance of Voltabox, this
growth will also be driven by the excellent order situation for AQI and AQS
air quality sensors and the booming sales of microphones, display
instruments, and back-up cameras. The recent acquisition of SphereDesign
GmbH is now included in the revenue target for the first time. The
unadjusted EBIT margin is set to reach around 10%. "In 2015, our revenues
and earnings will already clearly benefit from the investments made in
recent years and that although we will continue to invest heavily in
Germany and abroad this year as well. Our pipeline is full for the years
ahead."
Company profile
Listed in the regulated market (Prime Standard) of Deutsche Börse AG in
Frankfurt am Main, paragon AG develops, produces, and sells advanced
automotive electronics solutions. The portfolio of this direct supplier to
the automotive industry includes products in the following business
segments: Sensors, Acoustics, Cockpit, Electromobility, and Body
Kinematics. Headquartered in Delbrück (North Rhine-Westphalia), paragon AG
has branches in Suhl (Thuringia), Nuremberg (Bavaria), and St. Georgen
(Baden-Württemberg), the subsidiary SphereDesign in Bexbach (Saarland), a
sales office in Shanghai (China), and a subsidiary in Austin (Texas, United
States).
Contact
paragon AG
Schwalbenweg 29
33129 Delbrück
Germany
Tel.: +49 (0) 52 50 - 97 62-0
Fax: +49 (0) 52 50 - 97 62-60
Internet: www.paragon.ag
E-mail: info@paragon.ag
Financial press & investor relations contact
Instinctif Deutschland GmbH
Michael Müller
Tel.: +49 (0) 221/42075-0
E-mail: michael.mueller@instinctif.com
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2015-03-11 Dissemination of a Corporate News, transmitted by DGAP - a
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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, DE000A1TND93
WKN: 555869, A1TND9
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News-Service
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