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 quarter (from July 1st to September 30th 2018) of the financial year 2018/2019 (ending June 30th 2019).
| €M – IFRS standard |
In the first quarter of its 2018/19 financial year, Paragon ID recorded sales of € 24.9 million, compared with €27.4 million in the first quarter of the 2017/18 financial year. Changes in the scope of consolidation between the two periods included the discontinuation of the company's activities in China in the first semester of last financial year. Consolidation of AmaTech's results commenced on October 1st, 2018, and the RFID Discovery and airweb companies are consolidated as and from November 1st, 2018.
The activity for Q1 was in line with the company's expectations. The first quarter of 2017/2018 represented a particularly high base for comparison, having 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 represented a boost to last year's Q1 revenues in excess of €2 million.
Clem Garvey, Paragon ID Deputy CEO, comments:
"The level of activity for the first quarter of 2018/19 is in line with our expectations, given the challenging base of comparison against prior year. Our ambition remains unchanged: to deliver sustainable growth in our activity and especially in our profitability."
Activity per business line
The Product ID business line, which combines the activities of Product Traceability & Brand Protection and Gaming, totalled €6.8 million in quarterly turnover, down some 16% compared to the first quarter of 2017/18. The decline was due to exceptional invoicing of gaming cards in the same quarter last year.
The People ID business line, which includes the eID, Transport & Smart Cities and Payment activities, recorded quarterly sales of €18.2 million versus €19.4 million in 2017/18. This anticipated decline reflects cyclical trends in US passport orders. In contrast, the Transport & Smart Cities business grew in the quarter despite a particularly competitive environment for traditional transport tickets. In these product lines, margin improvement and profitability are being prioritised. Following the acquisition of airweb, the company is well positioned to differentiate its offers to support our customers' adoption of new technologies and mobile ticketing solutions.
Financial diary for 2018/19
|First half year turnover||January 30, 2019|
|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 and Payment sectors.
Using the latest technologies such as RFID and NFC, Paragon ID provides smart cards, tickets, labels and tags to worldwide clients in diverse markets including public transport, manufacturing, logistics, gaming and retail.
Paragon ID employs more than 600 staff, with manufacturing sites in three continents (US, Europe and Asia), close to its customers.
Paragon ID is a part of Paragon Group, which is a leading provider of Identification and Customer Communications services, and has a total of more than €650 million turnover and close to 5,000 employees. Paragon Group combines generations of experience with the latest innovations in technology and smart data to enable responsive and meaningful interactions between organisations and their customers.
For further information about Paragon Group, visit www.paragon-europe.com.
Paragon ID is listed on Euronext Paris. Share identification: Paragon ID – ISIN Code: FR0011980077 – Mnemonic code: PID.
More information at Paragon-id.com
|Paragon ID |
Phone: +41 79 629 46 74
|ACTUS finance & communication |
Phone: +33 (0)1 53 67 36 92
|ACTUS finance & communication |
Phone: +33 (0)1 53 67 36 73