paragon (PGN)

Currency in EUR

Last close As at 25/03/2023


−0.14 (−2.68%)

Market capitalisation


Based in Delbrück, Germany, paragon designs and supplies automotive electronics and solutions, selling directly to OEMs, including sensors, interior and body kinematics. It has production facilities in Germany, Croatia and China.

We believe paragon’s identification of, and investment in, solutions to address megatrends in global automotive markets is understood by investors. It is growing faster than its markets due to innovative products that are driving changes in customer perceptions, creating new growth engines for the group. These should reassert themselves as the pandemic effects continue to wane.

Latest Insights

View More



Equity Analyst

Andy Chambers

Andy Chambers

Director, Industrials

Key Management

  • Klaus Frers


  • Martin Esser

    Head of finance, IT and HR

Balance Sheet

Forecast net debt (€m)


Forecast gearing ratio (%)


Share Price Performance

Price Performance
% 1M 3M 12M
Actual 7.9 21.2 (6.6)
Relative 9.2 10.9 (11.2)
52 week high/low €5.9/€3.6


paragon has announced the result of the Eurobond tender offer at 60% of nominal, securing just under €1.7m nominal out of a potential €5m. The offer forms part of the ongoing debt reduction programme that will see the majority of the outstanding bond liabilities (both Swiss franc and euro) redeemed over the next few months (see our previous note). While the shares and bonds have been responding well to the management initiatives, these appear to pose a considerable potential opportunity for investors, assuming the operational growth strategy is successfully implemented.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2020A 127.2 13.8 (6.0) 79.34 5.0 1.5
2021A 146.9 20.0 1.2 27.26 14.5 0.9
2022E 170.8 25.9 2.9 47.00 8.4 0.6
2023E 188.1 31.0 7.4 119.00 3.3 0.6



UK housebuilders

Concept of energy storage unit consisting of multiple conected containers with batteries. 3d rednering.


Battery energy storage


IPO apocalypse


ESG, moving beyond the box tick

Subscribe to Edison

Get access to the very latest content matched to your personal investment style.

Sign up for free