Today, paragon released its final FY18 results. The company’s sales reached €187.4m, slightly ahead of its €180-185m guidance, while EBIT margin increased from last year’s 5.4% to 7.9%, in line with paragon’s forecast.
The company’s Electronics segment revenues decreased from last year’s €90.8m to €85.5m due to the decline of sales in the Interior unit of €7m. At the same time, the Electromobility segment generated sales of €66.9m, up by 170.9% year-on-year, backed by the serial production of battery modules for intralogistics applications, according to the company.
Despite a challenging market situation in the automotive sector, the company’s FY19 forecast remains positive. paragon expects that FY19 sales will increase by c. 25% to €230-240m and EBIT margin will be 8%. The company doesn’t plan any significant acquisitions in FY19 and will instead focus on consolidation of the already acquired entities.