paragon (PGN) Investor presentation summary

Business profile

• 37 years’ experience since 1988; 150m+ air-quality sensors sold; 90% single-source share; 13% of 700 employees in R&D.

• Portfolio spans 60 product groups, 900+ products for 220+ car models, 125 production lines and 900+ sales contracts.

• Premium automotive products address 8 of 10 global megatrends; stated market leadership in most product groups and no dependency on drive type or energy costs.

FY24 financial performance

• FY24 revenue €135.7m, down 16.0% from adjusted FY23 €161.6m; decline reflected lower customer release orders and the starter-battery business divestment to Clarios.

• Operating EBITDA €19.0m, margin 14.0%, vs adjusted FY23 €11.1m and 6.9%; improvement despite lower revenue reflected better cost efficiency.

• Operational cash flow €16.0m vs FY23 -€6.2m; free cash flow €5.2m vs -€13.8m.

• FY23 figures are adjusted to continued operations on a like-for-like basis; FY24 figures show operational performance excluding past special effects.

Resilience and debt reduction

• Responses to trade wars, COVID-19, the chip crisis, the Ukraine war and 2025 US tariffs included core-business focus, divestitures, debt relief, cost measures, customer diversification and internationalization.

• Net debt fell by more than 50% since end-FY19; net leverage ratio improved from 6.8 in FY21A to 3.1 in FY24A.

• Divestitures included Voltabox (2020/21), semvox (2022/23) and starter batteries (2023); other measures included cost cuts, restructuring and sale of unused property.