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Paragon ID

ENXTPA | PID Electronic Equipment and Technology Solutions
26 Jul 2023

Paragon ID Uploaded a News Release
July 26, 2023

Full year revenue 2022/23 at 192.0 M€, growing +47%

Highlights:

  • Organic growth of +44% (at constant exchange rate and on a like-for-like basis)
19 Jun 2023

Paragon ID Uploaded a News Release
June 19, 2023

Proposed simplified public offer for the shares of Paragon ID by Grenadier Holdings Ltd., majority shareholder in the Company

Highlights:

  • Friendly takeover bid by Grenadier Holdings Plc., majority shareholder in Paragon ID with 80.25% of the capital and 86.93% of the voting rights
  • Board of Directors of Paragon ID in favour of the Offer, in principle
  • Price: €38.01 per share
  • Grenadier Holdings Ltd. to implement squeeze-out procedure for Paragon ID shares in order to acquire 100% of the equity, subject to fulfilment of legal and regulatory conditions
26 Apr 2023

Paragon ID Uploaded a News Release
April 26, 2023

Growth of +55% and revenue of €140.9m for first nine months of financial year 2022/23

Highlights:

  • Record third quarter revenues totaling €51.0m, progressing +48%, of which +45% was organic growth
  • Revenues to 31 March 2023, for the first nine months of the 2022/23 financial year already superior to the full year revenues achieved in 2021/22 (€130.8m)

Targeted growth for year to 30 June 2023 revised to more than €185m, representing an annual growth rate of over 40%

  • This exceeds previous target of >€170m and >30% growth
29 Mar 2023

Paragon ID Uploaded a News Release
March 29, 2023

2022/23 half-year results: strong growth in business activity and continued improvement in profitability; increase in net debt

Highlights:

  • Half-year revenue growth of +59%, (organic growth of 50%)
  • EBITDA up +68% for the 1st half of the financial year and EBITDA margin reaching 7.3%
  • Positive current operating income (+€1,8 M) and net profit breakeven for the half-year
  • Confirmation of 2022/23 revenue target: more than €170m, representing 30% annual growth
  • Net debt (excluding non-recourse factoring) standing at €71.5m, of which €32.2m owed to Paragon Group
  • Increasingly complex business environment slowing growth in some Strategic Initiatives
7 Mar 2023

Arrowhead published an Equity Research Report on Paragon ID
March 7, 2023

Paragon ID (EPA:PID) Research Update

Highlights:

  • Arrowhead is updating its coverage on PID with a fair value bracket of EUR 58.9 to EUR 71.0 (share price on March 07, 2023: EUR 31.8) based on the discounted cash flow (DCF) method.
  • Paragon ID posted a record revenue of EUR 89.9 mn in H1 2023, a growth 58.8% year-on-year (YoY). The growth was primarily attributable to organic growth of 50%, strategic initiatives and continued success of its recent acquisitions. In Q2 2023, the company’s revenue grew by c. 53.4% YoY and 13.0% sequentially, to reach EUR 47.7 mn.
  • With the dawn of normalization in traditional activities, coupled with the market share gain, the company has experienced growth c. 68%, 51%, 22% and 173% across segments like Mass transit and Smart cities, Track and Trace, Payments and e-ID respectively.
  • The company has recently announced the receipt of new orders for polycarbonate e-ID products which has the potential to generate significant revenues over the next two years.
  • The company also announced its acquisition of ‘Uwinloc’, a France based provider of real time traceability solution by battery free tags through radio frequency energy collection and storage technology. ‘Uwinloc’ being a pioneer in radio frequency energy collection and storage technology, has filed 23 patents related to technology, including radio energy collection “technological bricks” which enable tags to operate without batteries. The acquisition of Uwinloc, will provide an opportunity for the company to expand its RTLS offering with revolutionary patented technology, which will remove the cost barriers by expanding systems and making solutions more sustainable.
  • Under “Resilience” measures, the company has recently negotiated for a new State-Guaranteed-Loans in the amount of EUR 10.0 mn between the company and its group banking partners. These loans are guaranteed by the French state government to support French companies which have been heavily impacted by the consequences of the current geopolitical situation, notably from supply chain disruption caused by the war in Ukraine. This will provide additional financial means to support the investments in working capital, thereby paving the way for the company’s future growth.
  • The company has a positive outlook for FY 2023 as the company has revised its full year targeted revenues in excess of EUR 170 mn, representing a growth of 30% YoY, majorly driven by strong growth seen in H1 2023 and strong order inflows and pipeline.
19 Jan 2023

Paragon ID Uploaded a News Release
January 19, 2023

Record half-year turnover 2022/23 of €89.9m, representing +59% growth in revenues

Highlights:

  • Organic growth of 50% including post-Covid effect
  • Continuing success of recent acquisitions and in Company’s Strategic Initiatives

New revised objective for annual growth: +30% in 2022/23:

  • Initial objective of double digit growth previously revised in October to +20%
  • Annual revenues in excess of €170m now targeted in 2022/23, as compared with €130.8m realised in 2021/22

New orders for polycarbonate e-ID products to generate new sales of tens of millions of euros over the next two years:

  • Major orders received for slim polycarbonate datapages for passports and for polycarbonate electronic identity cards
4 Jan 2023

Paragon ID Uploaded a News Release
January 4, 2023

Paragon ID strengthens its real-time location-based technologies with the acquisition of the assets of French company Uwinloc

  • 23 patents, including radio energy collection “technological bricks” enabling tags to operate without batteries
  • MahVis, a dedicated solution to accurately track any asset moved by a forklift
  • Deployment of real-time tracking solutions already effective with some thirty major industrial clients
15 Nov 2022

Arrowhead published an Equity Research Report on Paragon ID
November 15, 2022

Paragon ID (EPA: PID) Research Update

Highlights:

  • Arrowhead is updating coverage on PID with a fair value bracket of EUR 58.9 to EUR 71.4 (share price on November 14, 2022: EUR 31.5) based on the discounted cash flow (DCF) method
  • Paragon ID reported its highest-ever quarterly revenue in Q1 2023 at EUR 42.2 mn, up 65% year-on-year (YoY), primarily owing to the growth in the e-ID segment (up 170% YoY) and Transport and Smart Cities segment (up 90% YoY)
  • The Traceability and Brand Protection and Payments segments reported growth of 57% and 13% YoY, respectively, in Q1 2023
  • The acquisitions of EDM, UrbanThings and Tracktio contributed EUR 2.6 mn to the total sales in Q1 2023
  • Considering the performance in Q1 2023, the order pipeline for the remaining three quarters, and the current visibility of raw materials’ availability, the company revised its sales growth target to over 20% YoY from 10% YoY for FY 2023, which will take its revenue to over EUR 155 mn (almost double of that in FY 2021)
  • The company posted sales of EUR 130.8 mn in FY 2022, up 55.9% YoY. This, in addition to operational efficiencies, better supply chain management, improved fixed cost absorption and higher-than-expected contribution from acquisitions, led to an improvement in EBITDA margins to 8.0% in FY 2022 from 6.9% a year earlier. EBITDA, on an absolute level, increased to EUR 10.5 mn in FY 2022 from EUR 5.8 mn in FY 2021
  • As a result of the EBITDA growth, the net loss reduced drastically to EUR 2.5 mn in FY 2022 from EUR 5.7 mn in FY 2021
10 Nov 2022

Paragon ID Uploaded a Video
November 10, 2022

Paragon ID (EPA:PID) Investor Video Presentation – Executive Summary

This is a short executive summary on France-based technology company Paragon ID from CEO Clem Garvey and CFO Sebastien Chavigny.

10 Nov 2022

Paragon ID Uploaded a Video
November 10, 2022

Paragon ID (EPA:PID) Investor Video Presentation with Slide Deck

This is an executive summary on France-based technology company Paragon ID from CEO Clem Garvey and CFO Sebastien Chavigny, who will run you through Paragon ID’s slide deck.

Industries

  • Electronic Equipment and Technology Solutions

Paragon ID is a leader in identification solutions, in particular in the e-ID, Transport & Smart Cities and Traceability & Brand Protection sectors. It recently entered the area of Payment through its acquisition of AmaTech Group and has built on this through its acquisition of Thames Card Technology in November 2019. Paragon ID employs more than 750 staff, with manufacturing sites in US and Europe, close to its customers.

Paragon ID is listed on Euronext Paris with a majority of its shares being held by Paragon Group, a leading provider of Identification and Customer Communications services. Paragon Group has a turnover in excess of €1.3 billion and 8,000 employees. For further information about Paragon Group, visit Paragon-europe.com.

Euronext Paris – Share identification: Paragon ID – ISIN Code: FR0013318813 – Mnemonic code: PID.

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