Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PARAGON AG. We currently have 3 research reports from 1 professional analysts.
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Research reports on
On the charge
26 Oct 16
paragon has delivered several announcements over the last few months that have strengthened the medium-term investment case and highlighted the group’s significant growth potential. H116 results highlight the rapid increase in the group’s Electromobility division; all others apart from Body Kinematics also grew, generating a 9% increase in total revenues. Subsequently, the group has announced a series of contracts with significant blue-chip customers while also achieving a capital increase that was oversubscribed more than three times, which further strengthens the balance sheet and supports growth objectives.
Trends support progress
25 Jan 16
paragon’s shares have performed strongly since our September 2015 initiation, supported by recent newsflow from CES 2016, Chinese smog concerns and electromobility. These all demonstrate that paragon is focused on current trends with further embedded growth potential, as highlighted by its December guidance for FY16 following recent strong Q3 figures across all divisions. The combination of substantial contract wins for the group’s Voltabox division and the ramp-up of the new US and Chinese production facilities provides further growth catalysts, while the group is becoming increasingly decoupled from pure automotive volumes.
02 Sep 15
paragon is set to deliver 22%, 44% and 46% three-year CAGR in revenues, PBT and EPS respectively, driven predominantly by substantial growth from the group’s move into electromobility and new product areas such as body kinematics. This is built upon a strong core business in automotive electronics with a unique culture and development approach at the forefront of technological trends. With few directly comparable peers that can match such growth, we use a DCF valuation approach yielding a €30.1/share fair value.
Panmure Morning Note 30-11-2016
30 Nov 16
RPC, the international plastics products design and engineering group, has delivered yet another strong set of results (1H17 EBITDA +65%, EPS +45%). At the interim stage PBT was +66% (materially better than we had forecast). Topline growth has principally being driven by acquisitions (GCS + BPI), though organic remains a feature (and crucially remains at levels consistent with FY16). The two recent acquisitions have quickly been assimilated into the panEuropean platform and management has raised cost synergy guidance (again).
N+1 Singer - Morning Song 30-11-2016
30 Nov 16
Sanderson has delivered full year results in line with expectations and the 19 October trading update after a strong finish to the year compensated for a slower start. A healthy level of pre-contracted recurring revenue (50%), incremental sales to existing customers and new customer wins at higher average order values helped deliver solid revenue growth in both the Digital Retail (+9%) and Enterprise (+12%) divisions. A decent order book and good sales momentum suggest that the company is on track to deliver on unchanged profit expectations for the current year. We continue to view the valuation (FY17 EV/EBITDA 8.6x) as undemanding given an attractive combination of accelerating growth potential, strong cash generation and growing dividends.
Panmure Morning Note 02-12-16
02 Dec 16
Today James Halstead will be holding its 101st AGM. Trading during the first part of FY17 has been mixed, with some notable challenges. However, movements in FX (i.e. weak sterling) is boosting reported earnings, offsetting UK volume trends and pricing pressures. Whilst earnings are likely to be second half weighted, the picture is in-line with expectations and we are leaving our FY17 PBT estimates unchanged (£47.4m in FY17 vs £45.4m FY16).
02 Dec 16
On 30 September 2016, when the company announced its full year results, it reported that the UK business had seen a slow start to the year, with particular weakness in repair and renewal spending by the NHS as well as “reticence” in the education sector. However, with the UK only representing about a third of the business, this weakness was expected to be more than offset by the positive effect of a weakened sterling on its overseas business, given the benefits for competitiveness and margins.
Small Cap Breakfast
29 Nov 16
Asia Pacific Investment Partner - the research-driven emerging and frontier markets real estate development business intends to float on AIM and conduct a placing in December RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.