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Paragon starts the new year with a loss

In 2019, Paragon sales rose from 187.38 million euros to 192.19 million euros. The EBITDA deteriorates from 30.29 million euros to -8.37 million euros. The EBIT goes down from 14.83 million euros to -119.95 million euros. The bottom line is that Paragon made a loss of 123.52 million euros (previous year: +3.36 million euros). This results in a loss of EUR 18.29 per share; in 2018 Paragon generated a profit of EUR 0.52 per share.

CEO Klaus Dieter Frers on the figures: “We mastered the challenges in 2019, drew the right conclusions from the developments and successfully further developed our automotive business. We can build on that. “

According to Frers, the pandemic will only temporarily limit Paragon: “Our measures have long been geared towards the goal of ‘The paragon 2021’. In the future we will be able to show the diversity of our products and the potential for synergies in our solution portfolio even more easily. “

Paragon wants to part with Voltabox. According to the company, the initiated sales process is making good progress. We are therefore in advanced discussions. However, they said back in July that they were on the home straight here.

Paragon only provides limited information on the first quarter. Accordingly, the automobile business has a turnover of 29.5 million euros. That is a decrease of 3 percent for this area. The total turnover a year ago was 43 million euros. For the first quarter of 2020, Paragon reports an EBITDA of 2.0 million euros from the automotive sector. The entire company achieved an EBITDA of EUR 7.6 million last year. The loss is given as 3.63 million euros, in the previous year a profit of 1.71 million euros was on the books. The electromobility segment that is attributable to Voltabox is no longer shown. Paragon therefore points out that the annual figures are only partially comparable.

For the automotive business, Paragon is forecasting sales of EUR 105 million to EUR 115 million in 2020. In the automotive core business, there should be an EBITDA margin of 8 percent to 12 percent.

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