03.03.2016
paragon AG DE0005558696
DGAP-News: paragon AG: Sales record for paragon AG in 2015
DGAP-News: paragon AG / Key word(s): Final Results
paragon AG: Sales record for paragon AG in 2015
03.03.2016 / 12:07
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
- Highest sales growth since 2006, rising by over 20% to EUR 95 million
- Biggest investment in company's history
- Simultaneously, EBIT disproportionately improved
- 2016 Forecast: again revenue growth faster than industrial sector's
- Investment phase peak exceeded, margin improvement expected
Delbrück, Germany, 3 March 2016 - paragon AG increased its consolidated
revenues in fiscal year 2015 by 20.2% from EUR 79.0 million to EUR 95.0
million, thus achieving the highest growth since 2006. EBIT (Earnings
Before Interest and Taxes) rose disproportionately by 24.9% to EUR 7.8
million (previous year EUR 6.3 million), despite the largest annual
investment in the company's history of EUR 33.2 million. The EBIT margin
improved from 7.9% to 8.2%. Expenses in connection with the development of
new business meant that the adjusted EBIT rose from EUR 9.3 million by
29.6% to EUR 12.0 million with the adjusted EBIT margin improving from
11.7% to 12.6%. Similarly in fiscal year 2016, paragon AG expects a sales
growth rate above industrial sector. Having exceeded the investment phase
peak paragon AG, direct supplier to the automotive industry, predicts an
increase in the EBIT margin.
Klaus Dieter Frers, CEO of paragon AG says, "We are very pleased with the
results of the fiscal year. This is, of course, as a result of our
excellent figures but more so for the strategic and operational decisions
that we made in 2015: We now have our own production plants on sites in the
US and China, have made a significant impact in the field of E-mobility and
hit the mark for automobile manufacturers with our product offensive. We
expect this significant growth to continue over the coming years in light
of these positive developments."
Specifically, the Sensors division increased its revenues from EUR 31.3
million to EUR 34.6 (+10.5%) and the Acoustics division rose from EUR 14.5
million to 16.1 million (+11.0%). The Cockpit division improved
significantly, not least through the acquisition of the now
fully-integrated SphereDesign GmbH, from EUR 27.5 million to EUR 32.3
million (+17.5%). The newest business division, Body Kinematics, grew by
EUR 3.7 million to EUR 5.0 million (+35.1%).
The E-mobility division excelled in fiscal year 2015 with the largest
percentage increase in sales (+252.4%) and revenues soared from EUR 2.1
million to EUR 7.4 million. These revenues are spread almost equally across
the subsidiaries of Voltabox Germany GmbH and Voltabox of Texas, Inc..
Klaus Dieter Frers added, "Despite these already enormous increases,
further revenues would have been made if a customer had not shifted a major
project forward to 2016. Including this project Group sales would have
substantially exceeded the EUR 100 million mark."
Earnings figures in the last fiscal year also developed very well. The rise
in adjusted EBITDA of 37.9% to EUR 18.7 million (previous year: EUR 13.5
million) reflected the strong operating performance of the company. The
EBITDA margin rose to 19.6% (previous year: 17.1%). Unadjusted EBITDA
improved by 35.0% to EUR 14.2 million with the EBITDA margin also
increasing to 15% (previous year: 13.3%). Accordingly, net income rose to
EUR 3.4 million from EUR 2.8 million with earnings per share rising from
EUR 0.67 in the previous year to EUR 0.83. For fiscal year 2016, the
Managing Board expects further growth in Group sales by around 8% compared
to 2015, which once again clearly exceeds the industrial sector's average.
Frers says, "On the earnings side, in 2016 we will also benefit from
significantly lower investment now that the foundations for further
expansion have been laid. With planned investments in 2016 amounting to EUR
14.0 million, expenditure is less than half that of 2015 and, in fact,
below the level of 2014." The company predicts further disproportionate
earnings growth with an improved EBIT margin of around 9%. Among the
drivers of this growth is the continuation of positive business
developments in the Sensors division, particularly in E-mobility.
Consequently, the Managing Board expects the additional contribution of the
Voltabox subsidiaries in Germany and in the USA to double, rising to over
EUR 15 million. E-mobility, with its increasing momentum, will provide a
significant share of sales.
Frers concludes, "Added to this, our order book is virtually full with our
revenue forecast already covered by 95% with customer orders and we are
expecting further significant contracts during the course of 2016."
Company Profile
Listed in the regulated market (Prime Standard) of Deutsche Börse AG in
Frankfurt am Main, paragon AG (DE0005558696) develops, produces, and sells
innovative automotive electronics solutions. The portfolio of this direct
supplier to the automotive industry includes products in the business
segments of Sensors, Acoustics, Cockpit, E-mobility and Body Kinematics. In
addition to its headquarters in Delbrück (North Rhine-Westphalia), paragon
AG has locations in Suhl (Thuringia), Nuremberg (Bavaria), St. Georgen
(Baden-Württemberg) and Bexbach (Saarland) and subsidiaries in Bexbach (Fa.
ShereDesign), Kunshan (China) and in Austin (Texas, USA).
Contact
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.ag
E-Mail: [email protected]
Financial Press Contact & Investor Relations
Hillermann Consulting
Anna Landi
Poststraße 14-16
20354 Hamburg
Phone: +49 (0)40 320 27 91-0
E-Mail: [email protected]
---------------------------------------------------------------------------
03.03.2016 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: [email protected]
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
---------------------------------------------------------------------------
442391 03.03.2016
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
paragon AG ISIN: DE0005558696 können Sie bei EQS abrufen
Automobilzulieferer , 555869 , PGN , XETR:PGN