paragon enters the new year with optimism - positive start to 2024

EQS-News: paragon GmbH & Co. KGaA / Key word(s): Quarter Results
paragon enters the new year with optimism - positive start to 2024

07.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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paragon enters the new year with optimism - positive start to 2024 -
forecast confirmed

  * Revenue and EBITDA develop positively despite still subdued call-off
    level from customers

  * EBITDA of EUR 4.1 million in the current period (prior-year quarter: EUR
    3.8 million in continuing operations)

  * Significant increase in profitability achieved in Q1/2024: EBITDA ratio
    at 10.1% (prior-year quarter: 8.6%), further measures being implemented

* Larger new building in China occupied

  * Forecast for the current financial year confirmed unchanged: EUR 160 to
    165 million in sales with EBITDA between EUR 18 and 20 million

Delbrück, May 7, 2024 - paragon GmbH & Co. KGaA (ISIN DE0005558696) has made
a positive start to the current year. According to the quarterly report
published today, paragon achieved consolidated revenue of EUR 40.9 million
(prior-year quarter: EUR 44.7 million) and EBITDA of EUR 4.1 million
(prior-year quarter: EUR 3.8 million). Both key figures are therefore within
the communicated forecast for the 2024 financial year. The decline in
revenue of EUR 3.8 million compared to the same quarter of the previous year
reflects the previously announced scheduled discontinuation of a sensor
product in summer 2023. It also confirms the paragon management's assessment
published on December 11, 2023 that call-offs will pick up again in the
course of the year.

'It is important to us that we continue on our course of continuously
improving profitability. And we took another step forward here in the first
quarter of 2024. We were not only able to increase EBITDA in continuing
operations in the first quarter of 2024. Due to the significant reduction in
debt, financing expenses also fell from EUR 3.0 million in the same quarter
of the previous year to EUR 1.6 million in the quarter under review. As a
result, the consolidated net loss decreased from EUR -1.7 million in the
first quarter of 2023 to EUR -0.5 million in the quarter under review.
Further measures will take effect over the course of the year and lead to a
sustained positive consolidated result,' explained Klaus Dieter Frers, CEO
and founder of paragon.

In the first quarter of 2024, the initiatives started in 2023 were
systematically continued. The entire plant in China has been relocated to a
significantly larger new building in order to take advantage of the
considerable growth potential. paragon has now expanded its product range in
China to include the entire European product portfolio and has held initial
talks with Chinese customers. In the USA, paragon will already have its own
sales office in the next few months. A cooperation with an interesting
Indian automotive supplier has been initiated. The next products to be
produced at the plant in Croatia, which already has all the necessary
quality certificates, have also been determined.

A large number of new products and product variants are currently in the
development process. Numerous proof-of-concept orders testify to the high
level of customer interest in innovative paragon products from all
divisions. Frers: 'The level of quoting activity by paragon's sales team in
the first quarter of 2024 in particular is record-breaking. This will give
us a further boost for a successful future.'

About paragon GmbH & Co. KGaA

Listed on the Regulated Market (Prime Standard) of Deutsche Börse AG in
Frankfurt a.M., paragon GmbH & Co. KGaA (ISIN DE0005558696) develops,
produces and distributes pioneering solutions in the fields of automotive
electronics, body kinematics and electromobility. The portfolio of the
market-leading direct supplier to the automotive industry includes
innovative air quality management, modern display systems and connectivity
solutions, as well as high-end acoustic systems in the electronics segment.
In the mechanics segment, paragon develops and produces active mobile
aerodynamic systems. In the fast-growing automotive market for battery
systems, paragon's Power business unit supplies battery management systems
and traction batteries.

In addition to its headquarters in Delbrück (North Rhine-Westphalia),
paragon GmbH & Co. KGaA and its subsidiaries have sites in Suhl (Thuringia),
Landsberg am Lech and Nuremberg (Bavaria), St. Georgen (Baden-Württemberg)
and Limbach (Saarland) as well as in Kunshan (China), Dover (USA), Bengaluru
(India) and Oroslavje (Croatia).

For more information on paragon, visit www.paragon.ag.

Capital Market & Press Contact

paragon GmbH & Co. KGaA

Dr. Martin Esser

Bösendamm 11

33129 Delbrück, Germany

Phone: +49 (0) 52 50 - 97 62-200

Fax: +49 (0) 52 50 - 97 62-102

Email: investor@paragon.ag


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07.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        paragon GmbH & Co. KGaA
                   Bösendamm 11
                   33129 Delbrück
                   Germany
   Phone:          +49 (0)5250 9762 - 0
   Fax:            +49 (0)5250 9762 - 102
   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:    1896349

End of News EQS News Service
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1896349 07.05.2024 CET/CEST