paragon GmbH & Co. KGaA

  • WKN: 555869
  • ISIN: DE0005558696
  • Land: Deutschland

Nachricht vom 27.03.2020 | 18:12

paragon Retracts Revenue and Earnings Forecast as a result of COVID-19 Pandemic

paragon GmbH & Co. KGaA / Key word(s): Change in Forecast
paragon Retracts Revenue and Earnings Forecast as a result of COVID-19 Pandemic

27-March-2020 / 18:12 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 Retracts Revenue and Earnings Forecast as a result of COVID-19 Pandemic

Delbrück, Germany, March 27, 2020 - paragon [ISIN DE0005558696] expects that the business goals for 2020 will not be met as a result of the COVID-19 pandemic. Reduced orders and logistics issues affecting the fully consolidated financial investment Voltabox as well as signals from customers in the automotive industry regarding vehicle sales over the further course of the year indicate a longer shutdown of plants and slower restart of production than previously expected. Therefore, the management has retracted the revenue and earnings forecast for the current fiscal year. In light of decreased clarity around the economic consequences of the ongoing pandemic, a reliable forecast is not possible at this point.

 

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 and Neu-Ulm (Bavaria, Germany), Markgröningen and St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China), Oroslavje (Croatia) and Austin (Texas, USA).

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


Capital Market & Press Contact

paragon GmbH & Co. KGaA

Stefan Westemeyer
Artegastrasse 1
33129 Delbrück, Germany
Phone: +49 (0) 52 50 - 97 62-141
Fax: +49 (0) 52 50 - 97 62-63
Email: investor@paragon.ag


27-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this

Event im Fokus

Fachkonferenz Beteiligungsgesellschaften, 15.07.2020

Fachkonferenz Consumer / Leisure, 16.07.2020

Die Konferenzen finden aufgrund der aktuellen Situation nicht in den Räumen der Börse München statt, sondern als Online-Konferenz.

News im Fokus

Covestro AG: Vorläufiges EBITDA von EUR 124 Mio. in Q2 2020 liegt über Markterwartung

09. Juli 2020, 11:56

Aktuelle Research-Studie

Original-Research: PAION AG (von First Berlin Equity Research GmbH): Kaufen PAION AG

09. Juli 2020