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VARTA AG O.N. (VAR1.BE)

Berlin - Berlin Delayed price. Currency in EUR
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109.00-5.50 (-4.80%)
At close: 4:08PM CET
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Previous close114.50
Open112.60
Bid0.00 x N/A
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Day's range108.50 - 112.60
52-week range51.10 - 137.90
Volume628
Avg. volume212
Market capN/A
Beta (5Y monthly)N/A
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  • EQS Group

    VARTA AG: VARTA AG continues growth course and again raises annual guidance for 2020

    DGAP-News: VARTA AG / Key word(s): 9 Month figures12.11.2020 / 07:00 The issuer is solely responsible for the content of this announcement. Corporate News Ellwangen, November 12, 2020VARTA AG continues growth course and again raises annual guidance for 2020 Group revenue rises by 159.7% to € 630.3m over the first nine months of fiscal year 2020 (excluding Consumer Batteries: +69.7%) Adjusted EBITDA rises by 180.7% to € 176.8m (excluding Consumer Batteries: +127.8%) Adjusted EBITDA margin stands at 28.0% (+2.1 PP) Microbatteries & Solutions segment: Revenue totals € 388.9m (+71.4%), adjusted EBITDA stands at € 141.3m (+130.6%), adjusted EBITDA margin comes in at 36.3% (+9.3 PP). Household Batteries segment: Revenue of € 241.2m, adjusted EBITDA totals € 35.5m, adjusted EBITDA margin stands at 14.7% (+3.6 PP) Revenue and income guidance[1]) for 2020 raised again: Revenue anticipated to total € 840m-860m (previously: € 810m-830m), Adjusted EBITDA expected to stand at € 230m-235m (previously: € 210m-215m), Projected CAPEX payments of € 290m-320m due to ongoing capacity expansion project (previously: € 320m-360m)  Strong growth in revenue and operating earnings continues The VARTA Group has continued its high-level revenue and profit growth: Group revenue rose by 159.7% to € 630.3m over the first nine months of the year. Organic sales growth amounted to 69.7% (excluding the first-time consolidation of Consumer Batteries). Adjusted EBITDA increased by 180.7% to € 176.8m when adjusted for special effects (excluding Consumer Batteries: +127.8%), a development which produced an improved adjusted EBITDA margin, rising by 2.1 PP to 28.0%. With growth of 137.5% to € 78.3m, Group profit more than doubled."VARTA is continuing on its growth path. For this reason, we are raising our guidance for the current year", says Herbert Schein, Chief Executive Officer of VARTA AG. "We continue to look ahead to the future with optimism. The trend seen at cellphone manufacturers is clear: Cables are a thing of the past. In the near future, the only interface to the devices will be wireless. Moving forward, it can therefore be expected that the trend toward True Wireless Stereo (TWS) Headsets will be consolidated further and accelerated further. Technological progress in the area of TWS, which VARTA is actively helping to drive forward, is advancing rapidly. VARTA is excellently positioned to deal with such a development. In this context, we shall be upping the pace of production by more than 50 percent over the coming year, thereby making VARTA even more efficient. The increased energy density of our small lithium-ion batteries is set to be available on schedule by the end of the year. This will open up additional competitive advantages for us".Steffen Munz, Chief Financial Officer (CFO), comments: "We have continued the high level of revenue and profit growth over the third quarter of the year, in addition to again improving profitability as well. On the back of the highly pleasing business development over the first nine months of the year, we are once again raising the revenue and profit guidance for fiscal year 2020".Growth in lithium-ion cells for high-tech consumer products remains very high Revenue in the Microbatteries & Solutions segment rose by 71.4% to € 388.9m in the first nine months of the year. Adjusted EBITDA increased by 130.6% to € 141.3m. This led to a step-change improvement in the adjusted EBITDA margin amounting to 9.3 PP to 36.3%. By far the strongest revenue growth is again being recorded in the area of rechargeable lithium-ion batteries for high-tech consumer products, particularly premium true wireless headsets. This is a consequence of continued high customer demand in a market that continues to grow dynamically. In terms of hearing aid batteries, VARTA has further expanded its global market position. The Group is benefiting from the rapid market recovery for rechargeable hearing aid batteries.Successful focus on brand business in the Consumer areaThe Household Batteries segment generated revenue in the amount of € 241.2m up to the end of the third quarter of 2020. Adjusted EBITDA totaled € 35.5m, producing an adjusted EBITDA margin of 14.7% as a result. This positive result can be attributed in part to the unexpectedly strong development within the Consumer Batteries segment, where profitability significantly improved on account of the focus on brand business. In addition, the energy storage solutions business is growing highly dynamically, even outpacing growth on the market as a whole.CEO Herbert Schein's contract extended until 2026On October 22, 2020, the Supervisory Board of VARTA AG opted to prematurely extend the contract of Herbert Schein, Chief Executive Officer, by five years. The decision was agreed unanimously. Schein's contract, which was only due for renewal next year, now runs until 2026. Armin Hessenberger joined the Executive Board at VARTA AG on October 1, 2020. From January 1, 2021, Hessenberger will take over the position of Chief Financial Officer. The current CFO, Steffen Munz, is resigning at his own request with effect from December 31, 2020. Herbert Schein: "I am looking forward to working with Armin Hessenberger. He is familiar with VARTA and our products from his longstanding professional experience, including as Chairman of the Supervisory Board at one of our subsidiaries. We will together continue the VARTA Group's successful growth path".Revenue and profit guidance for fiscal year 20201)[2]raised again - growth trajectory set to be continued into fiscal year 2021 On the back of the highly impressive revenue and profit development during the first nine months of the year and with a high order volume still in place, VARTA AG again raises its revenue and profit guidance for fiscal year 2020: Revenue guidance has been upgraded from € 810m-830m to € 840m-860m. This would equate to revenue growth of between 131% and 137% in comparison with the previous year (including the Consumer Batteries segment). Organic revenue growth (i.e. excluding Consumer Batteries) is set to total 45%-49%. Adjusted EBITDA is now projected to stand in a corridor between € 230m and € 235m (previously: € 210m-215m), meaning that year-on-year growth of135%-140% (including Consumer Batteries) is now anticipated for this metric.Due to process optimizations, the expansion of production capacities will be completed at lower investment costs per unit than originally planned by the end of 2021. As a result, initially planned CAPEX payments will come in lower than originally anticipated and will, in part, be deferred into the following year. Therefore, the Company now expects CAPEX of € 290m-320m (previously: € 320m-360m).VARTA is anticipating market growth for lithium-ion batteries used in Premium True Wireless Stereo Headsets (TWS) of between 30% and 40% - although the Company expects this to come in at the lower end of this growth corridor due to the COVID-19 pandemic and the effects on some customers over the next twelve months. VARTA will therefore register growth that, according to current projections, will outstrip the market in terms of volume. Despite shifts in the product mix that impacts pricing structures, VARTA expects that the gross margins in this segment will remain at least stable.The VARTA Group will also register further growth over the course of the next fiscal year, with the Company set to be on the brink of hitting the revenue threshold of € 1bn by 2021. Adjusted EBITDA is also likely to grow faster than revenue in the next fiscal year.VARTA AG Group - selected Group key metrics In € m 9M 2020 9M 2019 Revenue 630.3 242.8 EBITDA 151.6 61.0 Adjusted EBITDA 176.8 63.0 Adjusted EBITDA margin (%) 28.0% 25.9% Consolidated result 78.3 33.0 Investment expenditure (CAPEX) 190.5 67.9 Free cash flow -141.0 -23.4 Equity ratio (%) 45.4% 62.0%* Balance sheet total 1,071.0 668.8* Staff (as of September 31) 4,601 2,613  *As of December 31, 2019 Calendar:   Second half of February 2021 Preliminary figures for 2020 March 31, 2021 Annual Financial Statements May 12, 2021 Interim report Q1 2021 June 17, 2021 Annual General Meeting August 13, 2021 Half-year report 2021 November 11, 2021 Interim report Q3 2021    Contact: Contact: Dr. Christian Kucznierz Bernhard Wolf Head of Corporate Communications Head of Investor Relations Tel.: +49 79 61 921-2727 Tel: +49 79 61 921-2969 christian.kucznierz@varta-ag.com bernhard.wolf@varta-ag.com   About VARTA AG VARTA AG produces and markets a comprehensive battery portfolio that ranges from microbatteries, household batteries and energy storage systems all the way to customer-specific battery solutions for a wide range of uses, setting the industry standards as technology leader in many important areas. As the parent company of the Group, it is active in the "Microbatteries & Solutions" and "Household Batteries" business segments.The "Microbatteries & Solutions" segment focuses on the OEM business for microbatteries and the lithium-ion battery pack business. Through intensive research and development, VARTA sets the global standards in the microbatteries segment and is a recognized innovation leader in the important growth markets lithium-ion technology and primary hearing aid batteries. The "Household Batteries" segment covers the battery business for end customers, including household batteries, rechargeable batteries, chargers, portable power (power banks), lights and energy storage systems. The VARTA AG Group, headquartered in Ellwangen, currently employs more than 4,000 staff. VARTA AG's operating subsidiaries are currently active in more than 75 countries around the world, with five production and assembly facilities in Europe and Asia as well as distribution centers in Asia, Europe and the USA.[1] ) In view of the situation regarding coronavirus (COVID-19), it is still not possible to rule out any negative impacts on the VARTA AG Group. At the time that these statements were compiled, these risks were not assessable and could therefore not be factored into guidance.[2] ) In view of the situation regarding coronavirus (COVID-19), it is still not possible to rule out any negative impacts on the VARTA AG Group. At the time that these statements were compiled, these risks were not assessable and could therefore not be factored into guidance.12.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: VARTA AG VARTA-Platz 1 73479 Ellwangen Germany Phone: +49 (0)791-921-0 E-mail: info@varta-ag.com Internet: www.varta-ag.com ISIN: DE000A0TGJ55 WKN: A0TGJ5 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1147459   End of News DGAP News Service

  • EQS Group

    VARTA AG: VARTA AG extends contract with CEO Herbert Schein ahead of time

    DGAP-News: VARTA AG / Key word(s): Personnel22.10.2020 / 09:00 The issuer is solely responsible for the content of this announcement. Corporate NewsEllwangen, 22nd October 2020 VARTA AG extends contract with CEO Herbert Schein ahead of time MDAX-listed company votes for continuing its growth path with Herbert Schein Mr Schein's contract extends until 2026VARTA AG is extending the contract with its CEO Herbert Schein until 2026 ahead of schedule. The Supervisory Board decided on this unanimously. Schein's contract with the technology company based in Ellwangen (Baden-Württemberg) would have not have been due to extension until next year. The 55-year-old successfully made the company go public in 2017. Under his leadership, the company, which has been listed in the MDAX since 2019, became the leader in innovation and market leader in the field of small lithium-ion cells.Michael Tojner, Chairman of the Supervisory Board of VARTA AG, says: "With our decision to extend the contract early, the Supervisory Board is taking into account the very positive development of VARTA AG in recent years. With Herbert Schein, we will continue the great success of VARTA AG. His early contract extension is a sign that we are committed to continuity. It is thanks to his drive, vision and leadership that today we are innovation and global market leaders in many areas. With Herbert Schein leading the company, we want to drive VARTA's growth course and develop the organization further."Schein has been with VARTA since 1991, Managing Director since 2007 and Chairman of the Board of VARTA AG since the IPO. Herbert Schein says: "I would like to thank everyone for the trust that has been placed in me. I am looking forward to playing a decisive role in shaping the future of battery technology together with the VARTA team."Media contact:Christian KucznierzVARTA AGHead of Corporate CommunicationsVARTA-Platz 173479 EllwangenTel.: +49 79 61 921 - 2727Mail: christian.kucznierz@varta-ag.comAbout VARTA AGVARTA AG produces and markets a comprehensive battery portfolio, ranging from microbatteries, household batteries, energy storage systems to customer-specific battery solutions for a wide range of applications, and, as a technology leader, sets industry standards in key areas. As the parent company of the group, it operates in the business segments "Microbatteries & Solutions" and "Household Batteries".The "Microbatteries & Solutions" segment focuses on the OEM business for microbatteries as well as on the lithium-ion battery pack business. Through intensive research and development, VARTA sets global standards in the microbattery sector and is a recognized innovation leader in the important growth markets of lithium-ion technology and primary hearing aid batteries. The "Household Batteries" segment comprises the battery business for end customers, including household batteries, rechargeable batteries, chargers, portable power (power banks) and lights as well as energy storage devices. The VARTA AG Group currently employs almost 4,000 people. With five production and manufacturing facilities in Europe and Asia, and distribution centres in Asia, Europe and the USA, VARTA AG's operating subsidiaries are currently active in over 75 countries worldwide.22.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: VARTA AG VARTA-Platz 1 73479 Ellwangen Germany Phone: +49 (0)791-921-0 E-mail: info@varta-ag.com Internet: www.varta-ag.com ISIN: DE000A0TGJ55 WKN: A0TGJ5 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1142375   End of News DGAP News Service

  • EQS Group

    VARTA AG: Change in the Management Board of VARTA AG

    DGAP-News: VARTA AG / Key word(s): Personnel01.10.2020 / 17:00 The issuer is solely responsible for the content of this announcement.Corporate NewsChange in the Management Board of VARTA AG  CFO Steffen Munz will step down from his position on the Board of Management at his own request on December 31, 2020 Armin Hessenberger has been appointed to the management board effective October 01, 2020, and will become new CFO of VARTA AG effective January 01, 2021Ellwangen, October 01, 2020.VARTA AG announced changes to the management board today.CFO Steffen Munz will step down from his position on the management board at his own request on December 31, 2020 to pursue other opportunities outside the company.Steffen Munz and the supervisory board agreed on this by best mutual agreement.The company thanks Steffen Munz for his very successful work as CFO of VARTA AG."As CFO, Steffen Munz positioned the company very successfully on the capital market after the IPO in October 2017", says Dr. Dr. Michael Tojner, Chairman of the Supervisory Board of VARTA AG. "The triple inclusion of the VARTA share in the S-DAX, M-DAX and TecDAX last year is clear evidence of this. In addition, he was largely responsible for the acquisition of the VARTA Consumer Batteries business from Energizer last year. I would like to thank Steffen Munz for the very successful work and wish him every success in his professional future. "Armin Hessenberger has been appointed to the Board of Management effective October 1, 2020, and will be the new CFO of VARTA AG effective January 1, 2021. Mr Hessenberger has many years of experience working for a listed industrial company and knows VARTA AG from his previous work at Montana Tech Components AG.01.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: VARTA AG VARTA-Platz 1 73479 Ellwangen Germany Phone: +49 (0)791-921-0 E-mail: info@varta-ag.com Internet: www.varta-ag.com ISIN: DE000A0TGJ55 WKN: A0TGJ5 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1138326   End of News DGAP News Service