Paragon ID (Euronext Paris - FR0011980077 - PID), the leading provider of identification solutions for e-ID, Transport & Smart Cities, Traceability & Brand Protection, and Payment, has published its consolidated turnover for the first semester (from July 1st to December 31st, 2018) of the financial year 2018/2019 (ending June 30th, 2019).
| €M – IFRS standard |
Amatech and RFID Discovery are consolidated as and from 1 October and 1 November 2018 respectively and contribute approximately 0.2M€ in revenues in Q2. The Company's strategic investment in airweb does not give rise to its consolidation in Paragon ID's results. It should be noted that the Company's activities in China were discontinued in the 1st half of 2017/18.
In the 2nd quarter of its 2018/19 financial year (period from October 1st to December 31st, 2018), Paragon ID recorded sales of € 25.2 million, some 3% higher than last year's second quarter (+2% at constant exchange rates).
Cumulatively, turnover for the first half of the financial year amounted to € 50.2 million, as compared to € 52.0 million in the same period in 2017/18. As previously communicated, H1 in 2017/18 benefited from the invoicing of NFC cards for the commercial launch of the Hasbro « Dropmix » musical game, as well as cyclically higher delivery volumes of passports to the United States, these elements representing a boost to last year's H1 revenues in excess of € 2 million.
Clem Garvey, Paragon ID CEO, comments:
“It is pleasing to see Paragon ID return to growth in the 2nd quarter of 2018/19 following a period of significant reorganisation, successfully completed in 2018. Orders arising from our recent acquisitions, Amatech in the field of payment and RFID Discovery in the field of traceability, will start to have an impact in H2.
We remain committed to delivering sustainable growth in our revenues and our profitability, despite heavy competition in certain product lines and a context of price increases in raw materials.”
Activity per business line
Product ID (Product Traceability, Brand Protection and Gaming) totalled revenues of € 7.8 milion, growing 6% in Q2, in sharp contrast to the decline in revenues posted in this business line in Q1
(16% decline due to the impact of the Hasbro NFC card deliveries in Q1 2017/18).
The People ID business line (eID, Transport & Smart Cities and Payment activities), totalled revenues of € 17.4 million, growing 1% in Q2. In these product lines, margin improvement and profitability are being prioritised.
Financial diary for 2018/19
|First half year results||March 29, 2019|
|Quarter 3 turnover||April 24, 2019|
|Yearly turnover||July 31, 2019|
|Yearly results||October 31, 2019|
These dates are for information only. They may be modified if necessary. Publications will take place before stock exchange opening.
About Paragon ID
Paragon ID is a leader in identification solutions, in particular in the e-ID, Transport & Smart Cities and Traceability & Brand Protection sectors. It has recently entered the area of Payment through its acquisition of Amatech Group.
Paragon ID employs more than 600 staff, with manufacturing sites in three continents (US, Europe and Asia), 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 €800 million (2018 fiscal year) and over 6,000 employees. For further information about Paragon Group, visit www.paragon-europe.com.
Euronext Paris - Share identification: Paragon ID - ISIN Code: FR0011980077 - Mnemonic code: PID.
For further information about Paragon ID, visit Paragon-id.com.