paragon_resized

paragon (PGN)

Currency in EUR

Last close As at 07/02/2023

EUR4.90

−0.08 (−1.72%)

Market capitalisation

EUR22m

paragon designs and supplies automotive electronics and solutions, selling directly to OEMs, including sensors, interior, digital assistance and body kinematics. Production facilities are in Germany and China.

Latest Insights

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Industrials

paragon — Agreement to sell paragon semvox

Industrials

paragon — Building momentum in Q222

Industrials

paragon — Refocused automotive growth strategy

Sector

Industrials

Equity Analyst

Andy Chambers

Andy Chambers

Director, Industrials

Key Management

  • Klaus Frers

    CEO

  • Martin Esser

    Head of finance, IT and HR

Balance Sheet

Forecast net debt (€m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 17.8 16.7 (22.7)
Relative 12.3 3.1 (23.3)
52 week high/low €6.3/€3.6

Financials

paragon has announced that it is to sell its digital assistance business unit, paragon semvox, to CARIAD, the wholly owned software subsidiary of Volkswagen. The anticipated price is c €40m, which equates to approximately 33% of paragon’s enterprise value. The disposal seems likely to provide sufficient liquidity to satisfy paragon’s bond redemptions for FY23, which should finally release the shackles on the rating. The final timing of regulatory approvals, and any additional accelerated redemptions from the recently extended eurobond, remain important. However, as financial risk is retired, attention should start to focus on paragon’s automotive growth plans.

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

Research

Thematics

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

Industrials

Battery energy storage

Consumer

IPO apocalypse

TMT

ESG, moving beyond the box tick

Industrials

The emergence of mega-constellations

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