Paragon: On The Charge
Edison | Oct 26, 2016 09:08AM ET
Paragon (DE:PGNG) has delivered several announcements over the last few months that have strengthened the medium-term investment case and highlighted the group’s significant growth potential. H116 results highlight the rapid increase in the group’s Electromobility division; all others apart from Body Kinematics also grew, generating a 9% increase in total revenues. Subsequently, the group has announced a series of contracts with significant blue-chip customers while also achieving a capital increase that was oversubscribed more than three times, which further strengthens the balance sheet and supports growth objectives.
H116 results showed benefits of investment
H1 revenues were up 9.4% to €48.8m (H115: €44.6m) driven by substantial increases in Electromobility (+235%) and Acoustics (+17%) and more moderate growth in Sensors (+4%) and Cockpit (+1%). Body Kinematics was held back by the transition from development to serial production. With increased depreciation and amortisation, EBIT eased slightly to €3.5m (H115: €3.8m) resulting in a margin of 7.2% (H115: 8.6%). Management maintains FY16 guidance for c 8% revenue growth and c 9% EBIT margin; our forecasts have been reduced to reflect this.
To read the entire report Please click on the pdf File Below
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.