Paragon AG reported earnings results for the second quarter and six months ended June 30, 2013. Compared to the first quarter of 2013, in the second quarter of 2013 the company recorded a significant upswing in EBIT to EUR 2.0 million, up from EUR 0.9 million and in EBITDA to EUR 3.1 million, up from EUR 2.0 million. The company managed to achieve a turnaround with regard to operating cash flow in the second quarter of 2013. Following a still negative result in the first quarter of 2013 was EUR 1.1 million, the company in second quarter of 2013 generated a positive cash flow from operating activities amounting to EUR 0.7 million.

For the six months, the company reported EBIT of EUR 2.9 million against EUR 5.0 million a year ago. EBITDA was EUR 5.1 million against EUR 7.2 million a year ago. The EBIT margin in the first six months of 2013 came to 8.3% against 13.2% a year ago. In the first six months of 2013, the negative operating cash flow reached a value of EUR 0.4 million against positive operating cash flow of EUR 4.1 million a year ago, in response to an increase in tax payments of EUR 0.5 million as compared to first half of 2012 as well as an increase in trade receivables of EUR 0.8 million and a reduction in current liabilities of EUR 1.1 million. For the period January 1 to June 30, 2013, the company recorded net income in accordance with IFRS of EUR 1.8 million against EUR 3.6 million a year ago. This resulted in earnings per share of EUR 0.43 against EUR 0.88 a year ago.

The significant double-digit growth in sales and the positive trend of the earnings figures in the second quarter leads the managing board to reaffirm its forecast for fiscal 2013. Overall, the company's management expects 5% growth in revenue as in 2012 as well as a stable EBIT margin.