paragon AG publishes final 2014 consolidated annual financial statements

DGAP-News: paragon AG / Key word(s): Final Results 2015-03-11 / 15:00 --------------------------------------------------------------------- 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 --------------------------------------------------------------------- 2015-03-11 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 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 --------------------------------------------------------------------- 332301 2015-03-11