paragon AG: record year 2006, dividend raise planned
03/28/2007
DGAP-Ad-hoc: paragon AG: record year 2006, dividend raise planned
paragon AG / Final Results/Dividend
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
----------------------------------------------------------------------
- Sales rose 38.2% to €110.8 million
- EBITDA grew by 45.3% to €20.2 million
- Plans to increase dividend by 50.0% to €0.30 per share
- Further improvement in earning power planned for 2007
Delbrück, March 28, 2007 – 2006 was yet another record year for paragon AG.
During the past fiscal year, the direct supplier to the automotive industry
increased its sales by 38.2% from €80.2 million to €110.8 million. This
growth confirmed the company’s strategy of focusing on strong-growth niche
markets.
paragon reported its steepest growth in earnings before interest, taxes,
depreciation and amortization (EBITDA), which climbed 45.3% to €20.2
million (€13.9 million in 2005), corresponding to an EBITDA margin of 18.3%
(17.3% in 2005). During the reporting period, EBIT without the statutory
depreciation of noncurrent assets actually grew by 50.0% to €9.9 million
(€6.6 million in 2005), resulting in an EBIT margin of 9.0% (8.2% in 2005);
the increase with the above depreciation shows a rise of 28.8% to €8.5
million. Here, despite the renewed increase in investments at €33.2 million
(previous year: €29.6 million) and taxes relating to other accounting
periods, the company reported net income of €2.2 million, equaling last
year's figure. The fourth quarter in particular was crucial to this good
result; in this period alone, paragon generated earnings of €1.1 million.
The Automotive division was again the driver of growth within the paragon
Group. In this core segment, sales showed above-average growth, climbing
from €57.3 million to €87.7 million. With this figure, the Automotive
division achieved an 80% share in total sales (2005: 71.7%). The Electronic
Solutions division accounted for €23.1 million (€22.8 million in 2005) of
the result. This figure includes sales generated in the U.S. (€11.2
million; €8.7 million in 2005) and Building Technology (€1.0 million; €0.7
million in 2005).
In consideration of tax expenses relating to other accounting periods,
earnings per share rose to €0.61 (€0.55 in 2005). As a result of the upward
trend in profits, the Board of Management and Supervisory Board have
decided to propose a dividend hike at the shareholders’ meeting in 2007.
They will suggest paying out a dividend of €0.30 per share (€0.20 in 2005).
With the current figures, paragon has confirmed or, in some cases,
outperformed the forecasts for fiscal 2006.
For fiscal 2007, the Board of Directors plans to up revenues between 5 and
10%, which would mean that net revenue had tripled within a space of only
five years (2003 - 2007). However, this year’s focus will be on a major
boost to earning power and an improvement in the equity ratio. paragon
still has its sights set on sales of €200 million in 2010.
paragon AG
Schwalbenweg 29
33129 Delbrück
Phone: +49 (0) 52 50 - 97 62 -0
Fax: +49 (0) 52 50 - 97 62 -60
Internet: www.paragon-online.de
E-Mail: info@paragon-online.de
Investor Relations
Haubrok Investor Relations GmbH
Michael Müller, Fabian Lorenz
Phone: +49 (0) 2 11- 3 01 26 -0
Fax: +49 (0) 2 11 - 3 01 26 -172
E-Mail: f.lorenz@haubrok.de
DGAP 28.03.2007
----------------------------------------------------------------------
Language: English
Issuer: 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
www: www.paragon-online.de
ISIN: DE0005558696
WKN: 555869
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin-Bremen, München, Hamburg, Düsseldorf, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------
back