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PARAGON AG (FRA:PGN) paragon adjusts revenue and earnings forecast for the 2019 fiscal year

Directive transparence : information réglementée

12/08/2019 18:59

DGAP-Ad-hoc: paragon GmbH & Co. KGaA / Key word(s): Change in Forecast/Profit Warning
paragon adjusts revenue and earnings forecast for the 2019 fiscal year

12-Aug-2019 / 18:59 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


paragon adjusts revenue and earnings forecast for the 2019 fiscal year
 

Delbrück, Germany, August 12, 2019 - paragon GmbH & Co. KGaA [ISIN DE0005558696] is adjusting its revenue and earnings forecast for the 2019 fiscal year. This is mainly due to the market weakness in the automotive industry and the corrected annual forecast for the publicly traded subsidiary Voltabox. In the automotive business, the changed product mix has had an unfavorable impact on profitability. At Voltabox, revenue delays are occurring in the U.S. business, while a temporary production stoppage is underway in subareas because an important supplier is currently converting its own production to the latest technological cell generation.
 

Accordingly, paragon GmbH & Co. KGaA is expected to achieve revenue of EUR 200 million to EUR 210 million in the current fiscal year. A negative EBIT margin of about -1 to -2 % is being forecast. Originally, the Group had planned on revenue of EUR 230 million to EUR 240 million along with a positive EBIT margin of around 8 %.
 

According to preliminary figures, in the first half of the year the paragon Group achieved revenue of EUR 96 million, which represents an increase of 22 %, and an EBIT of EUR -5.4 million; positive EBIT of EUR 4.8 million was generated in the prior year's period. The company will publish its mid-year figures on August 22, 2019.
 


About paragon GmbH & Co. KGaA

paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company's portfolio includes the Electronics operating segment's innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. With Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, the Group is also active in the rapidly growing Electromobility operating segment with its cutting-edge lithium-ion battery systems developed in-house.

In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech, Neu-Ulm and Nuremberg (Bavaria, Germany), Korntal-Münchingen and St. Georgen (Baden-Württemberg, Germany), Bexbach and Saarbrücken (Saarland, Germany) and Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China) and Austin (Texas, USA).

Additional information about paragon can be found at www.paragon.ag/en.



Financial Press & Investor Relations Contact

paragon GmbH & Co. KGaA

Dr. Kai Holtmann
Artegastrasse 1
33129 Delbrück, Germany
Phone: +49 (0) 52 50 - 97 62-140
Fax: +49 (0) 52 50 - 97 62-63
Email: investor@paragon.ag


12-Aug-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: paragon GmbH & Co. KGaA
Artegastraße 1
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, DE000A2GSB86,
WKN: 555869, A2GSB8,
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 856137

 
End of Announcement DGAP News Service

856137  12-Aug-2019 CET/CEST

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