Goals confirmed: Varta shares are in the deep red: Varta with a decline in sales and operating profit | news


The battery manufacturer, which is listed on the MDAX and TecDAX, confirmed its targets for the year as a whole and also published the first indications for the second quarter.

Adjusted operating earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) fell to 38.1 million euros from 60 million in the January-March period. The margin deteriorated as sales fell less significantly to 185.3 million euros from 204 million.

At the end of March, Varta had already published the first estimates for the first quarter with the figures for the full year 2021. As a result, sales should be between EUR 180 and 190 million and adjusted EBITDA between EUR 34 and 39 million.

For the year as a whole, Varta continues to expect sales of between 950 million and around 1 billion euros, with adjusted EBITDA of between 260 and 280 million euros.

In the second quarter, sales should be between 195 and 205 million and adjusted EBITDA between 34 and 38 million euros.

Varta slump to a two-year low – confidence in

The once acclaimed Varta papers fell on Thursday with double-digit price reductions to the lowest level in more than two years. Varta shares finally fell on XETRA on Thursday by 9.04 percent to 73.02 euros.

After a difficult start to the year, the battery company expects lower earnings in the second quarter than in the previous year, but is sticking to its annual outlook. However, the goals for the year as a whole depend more and more on a late recovery, a Brsian explained the uncertainty of investors.

After the well-known setback in the first three months due to weaker demand for rechargeable lithium-ion button cells and start-up costs for expanding production, sales in the second quarter are expected to be between EUR 195 and 205 million. The company expects earnings before interest, taxes, depreciation and amortization adjusted for special effects to be between EUR 34 and 38 million. Both in terms of sales and earnings, analysts had more on the slip.

After the IPO in October 2017, the Varta shares had developed very well with an issue price of EUR 17.50 and reached a record high of EUR 181.30 at the beginning of 2021. Market participants like to mention the good order situation as one of the reasons for the price strength – also thanks to the supposed major customer Apple.

After an interim high in August 2021 at around 166 euros, it then went down continuously. In 2022, the loss will add up to 39 percent.


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