Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2
- Creatore Discussione gionmorg
- Data di Inizio
Fra41
Forumer storico
PARAGON
continues to grow at an impressive rate in the third quarter
• paragon’s revenue increases by 19.8% to € 40.7 million in the third
quarter (prior year: € 34.0 million)
• Revenue totals € 127.1 million after nine months (prior year:
€ 109.7 million)
• Annual revenue forecast of € 170.0 million confirmed
• Additional customer orders for adaptive spoilers and display
instruments received
• EBITDA of € 12.0 million in the first nine months (prior year:
€ 15.0 million) primarily influenced by noncash one-time effects of
€ 4.0 million
Delbrück, November 10, 2022 – paragon GmbH & Co. KGaA [ISIN DE0005558696]
today published its Group interim financial report as of September 30,
2022, reporting revenue of € 40.7 million (prior year: € 34.0 million) for
the third quarter of 2022. The top-tier supplier to the automotive
industry is benefiting from its broad product and customer portfolio.
“The 19.8% growth we achieved in the third quarter of 2022 demonstrates
our unabated growth momentum in a market environment that must be
described as challenging due to the war in Ukraine, supply chain
difficulties, coronavirus lockdowns and chip bottlenecks,” says Klaus
Dieter Frers, explaining the report being presented. Frers is the founder
and CEO of paragon GmbH, the entity that serves as the general partner of
paragon GmbH & Co. KGaA.
After nine months, revenue amounted to € 127.1 million, which is 15.9%
higher than the revenue in the first nine months of 2021
(€ 109.7 million). The driving forces behind the growth in sales were the
adaptive spoilers (operating segment Kinematics), the innovative products
in the field of air quality management (operating segment Sensors) and the
display instruments product group (operating segment Interior).
The order backlog (“booked business”) is also at a gratifyingly high level
for the next few years. Recent selection of the company for fulfillment of
contracts totaling more than € 30 million contributed to well-filled order
books. A Chinese automobile manufacturer has chosen paragon to supply
adaptive spoilers for a future platform. This is already the fourth order
for adaptive spoilers in China, with the first series order recently going
into production at the Chinese paragon plant in Kunshan. In addition, a
leading European manufacturer commissioned paragon to provide display
instruments for an upcoming electric SUV.
After the first nine months of 2022, EBITDA stands at € 12.0 million
(prior year € 15.0 million). As previously explained in the presentation
of the figures for the first half of 2022, it is necessary to take noncash
one-time effects into account. In addition to a book loss of
€ 0.45 million arising from the sale of the peripheral activities at the
Aachen location, book losses of € 1.75 million associated with the sale of
a production building also encumbered results. There were noncash exchange
rate losses in the amount of € 1.8 million as well. One-time negative
effects thus total € 4.0 million.
paragon has systematically continued its pursuit of debt reduction in
recent months, with total bond liabilities and bank liabilities reduced by
€ 37.0 million to € 90.9 million since December 2019. The next step is
repayment of the CHF bond with a volume of CHF 21 million and partial
redemption of the EUR bond (€ 5 million) in April 2023. “In terms of the
measures planned to make this a reality, we have made considerable
progress in the meantime,” explains paragon CFO Dr. Martin Esser. “We
expect to soon be able to inform the capital markets.”
In addition to these comments regarding the positive economic development
of paragon GmbH & Co. KGaA, we would like to point out that Mr Klaus
Dieter Frers - in his capacity as a shareholder of the company - informed
the company on November 9, 2022 that, under circumstances that have not
yet been conclusively legally clarified, a third party has acquired the
rights to realize his entire paragon share package against his will and
has announced their realization.
paragon GmbH & Co. KGaA regards these events as an attempt of a hostile
takeover. Its general partner, paragon GmbH, has declared to the company
that, irrespective of the outcome of the proceedings, the sole management
of the company remains with paragon GmbH and Mr Frers remains its managing
director. Mr Frers has announced legal actions against the realization of
his share package.
The company’s Group interim report as of September 30, 2022, is available
for download at Investoren.
continues to grow at an impressive rate in the third quarter
• paragon’s revenue increases by 19.8% to € 40.7 million in the third
quarter (prior year: € 34.0 million)
• Revenue totals € 127.1 million after nine months (prior year:
€ 109.7 million)
• Annual revenue forecast of € 170.0 million confirmed
• Additional customer orders for adaptive spoilers and display
instruments received
• EBITDA of € 12.0 million in the first nine months (prior year:
€ 15.0 million) primarily influenced by noncash one-time effects of
€ 4.0 million
Delbrück, November 10, 2022 – paragon GmbH & Co. KGaA [ISIN DE0005558696]
today published its Group interim financial report as of September 30,
2022, reporting revenue of € 40.7 million (prior year: € 34.0 million) for
the third quarter of 2022. The top-tier supplier to the automotive
industry is benefiting from its broad product and customer portfolio.
“The 19.8% growth we achieved in the third quarter of 2022 demonstrates
our unabated growth momentum in a market environment that must be
described as challenging due to the war in Ukraine, supply chain
difficulties, coronavirus lockdowns and chip bottlenecks,” says Klaus
Dieter Frers, explaining the report being presented. Frers is the founder
and CEO of paragon GmbH, the entity that serves as the general partner of
paragon GmbH & Co. KGaA.
After nine months, revenue amounted to € 127.1 million, which is 15.9%
higher than the revenue in the first nine months of 2021
(€ 109.7 million). The driving forces behind the growth in sales were the
adaptive spoilers (operating segment Kinematics), the innovative products
in the field of air quality management (operating segment Sensors) and the
display instruments product group (operating segment Interior).
The order backlog (“booked business”) is also at a gratifyingly high level
for the next few years. Recent selection of the company for fulfillment of
contracts totaling more than € 30 million contributed to well-filled order
books. A Chinese automobile manufacturer has chosen paragon to supply
adaptive spoilers for a future platform. This is already the fourth order
for adaptive spoilers in China, with the first series order recently going
into production at the Chinese paragon plant in Kunshan. In addition, a
leading European manufacturer commissioned paragon to provide display
instruments for an upcoming electric SUV.
After the first nine months of 2022, EBITDA stands at € 12.0 million
(prior year € 15.0 million). As previously explained in the presentation
of the figures for the first half of 2022, it is necessary to take noncash
one-time effects into account. In addition to a book loss of
€ 0.45 million arising from the sale of the peripheral activities at the
Aachen location, book losses of € 1.75 million associated with the sale of
a production building also encumbered results. There were noncash exchange
rate losses in the amount of € 1.8 million as well. One-time negative
effects thus total € 4.0 million.
paragon has systematically continued its pursuit of debt reduction in
recent months, with total bond liabilities and bank liabilities reduced by
€ 37.0 million to € 90.9 million since December 2019. The next step is
repayment of the CHF bond with a volume of CHF 21 million and partial
redemption of the EUR bond (€ 5 million) in April 2023. “In terms of the
measures planned to make this a reality, we have made considerable
progress in the meantime,” explains paragon CFO Dr. Martin Esser. “We
expect to soon be able to inform the capital markets.”
In addition to these comments regarding the positive economic development
of paragon GmbH & Co. KGaA, we would like to point out that Mr Klaus
Dieter Frers - in his capacity as a shareholder of the company - informed
the company on November 9, 2022 that, under circumstances that have not
yet been conclusively legally clarified, a third party has acquired the
rights to realize his entire paragon share package against his will and
has announced their realization.
paragon GmbH & Co. KGaA regards these events as an attempt of a hostile
takeover. Its general partner, paragon GmbH, has declared to the company
that, irrespective of the outcome of the proceedings, the sole management
of the company remains with paragon GmbH and Mr Frers remains its managing
director. Mr Frers has announced legal actions against the realization of
his share package.
The company’s Group interim report as of September 30, 2022, is available
for download at Investoren.
Distressed
Nuovo forumer
Qualcuno ha TPC Group 10.5% 2024 ISIN: USU8925WAD30?
Ricevuta l'offerta di scambio per azioni?
Ricevuta l'offerta di scambio per azioni?
angy2008
Forumer storico
il 24 e' festivo, staranno preparando il tacchino
fabriziof
Forumer storico
No ogni tanto si blocca .
p.s. L’11 scorso era festivo per i bond ma non per le azioni,infatti finra non funzionava ,da tenere d’occhio le vacanze per i bond FAQ: U.S. Bond Market Holidays and Hours 2023
iguanito
Forumer storico
Esatto!! Lo stavo scrivendo io.