2013 Shareholders´ Meeting
Established brand with a strong future
paragon AG hosted its twelfth regular shareholders’ meeting on May 15, 2013 at its headquarters in Delbrück. The company is celebrating its 25th anniversary this year. CEO Klaus Dieter Frers had the pleasure of reporting on fiscal year 2012 and on the future prospects of the business. The shareholders discharged the executive and supervisory boards of any liability for the previous fiscal year and approved management’s proposals nearly unanimously.
Fiscal year 2013 was characterized by a 5.1 percent growth in sales to €70.4 million and very good earnings, which place the company in a leading position. Frers highlighted the increase in equity (+33 percent to €13 million). “An equity ratio of 29.6 percent at year end gives us a capital structure of which we can be proud. It provides an anchor for our continued growth,” Frers stressed.
Exemplary products and customers
The new slogan “Premium for the car” sums up what the company has achieved in the first quarter century of its existence. “paragon has made motoring healthier, more comfortable, more communicative and more efficient. Our company is an established brand among suppliers and our future looks bright”, Frers pointed out. The company’s product lineup currently features more than 170 different products with hundreds of variants for over 70 different models of car. Major customers include such leading automobile manufacturers as Audi, VW, Porsche, BMW and Daimler.
New components, closer networking and inter-modular integration are some of the challenges facing paragon in the future. Frers sees considerable growth potential in China, the USA and in the company‘s relations with BMW and Daimler. The new Electromobility and Kinematics divisions represent a further step in the direction of high-value systems.
Outlook confirmed for 2013
The CEO confirmed his outlook for fiscal 2013, predicting growth in revenues of approximately 5 percent and a stable EBIT margin. New products and orders will proceed to production in the autumn. Currently, paragon has more than 96 percent of the order calls that it needs to achieve its targets.