DGAP-News: Impact of Delayed Auditing Work at Voltabox Subsidiary on Submission Date for paragon's Consolidated Financial Statements

Impact of Delayed Auditing Work at Voltabox Subsidiary on Submission Date for paragon's Consolidated Financial Statements

- Preliminary Voltabox figures for 2019 confirmed - paragon Automotive's complete annual financial statements available since July 15, 2020

- Audit of management report and notes of Voltabox subsidiary nearly complete

- Publication of paragon's consolidated financial statements scheduled for August 20, 2020

- Virtual Annual General Meeting now planned for September 15, 2020

Delbrück, Germany, July 28, 2020 - Following yesterday's announced postponement of the presentation of the consolidated and annual financial statements of the Voltabox subsidiary, paragon [ISIN DE0005558696] will now not be able to publish its own Annual Report until August 20, 2020. The reason for this is the still not completed audit of the management report and notes of Voltabox AG. In view of this, the Annual General Meeting of paragon GmbH & Co. KGaA will now be held on September 15, 2020 and for the first time in a virtual format.

Although the complete annual financial statements of paragon Automotive are available, the audit of the Voltabox subsidiary will be completed in the first half of August. This step is required for the consolidation into paragon's consolidated financial statements. Accordingly, paragon will only be able to publish its Annual Report for 2019 immediately following the publication of Voltabox's consolidated financial statements on August 20, 2020 as well as the required concluding discussion of the financial statements. Since the announcement of the preliminary figures on revenue and earnings on July 15, 2020, there have been no further changes in terms of paragon Automotive.

Also on August 20, 2020, the company will present its interim report for the first quarter as of the March 31, 2020 reporting date. The half-year financial statements as of June 30, 2020 will now be published on September 4, 2020.

The revised scheduling for the submission of the annual and consolidated financial statements requires an adjustment of plans for this year's Annual General Meeting. It will be held in a virtual format on September 15, 2020.

Profile: paragon GmbH & Co. KGaA


paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company's portfolio includes the Electronics operating segment's innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. With Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, the Group is also active in the rapidly growing Electromobility operating segment with its cutting-edge lithium-ion battery systems developed in-house.

In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech and Neu-Ulm (Bavaria, Germany), St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China), Oroslavje (Croatia) and Austin (Texas, USA).

Additional information about paragon can be found at www.paragon.ag.

Capital Market & Press Contact

paragon GmbH & Co. KGaA

Stefan Westemeyer

Artegastrasse 1

33129 Delbrück, Germany

Phone: +49 (0) 52 50 - 97 62-141

Fax: +49 (0) 52 50 - 97 62-63

Email: [email protected]