UK markets closed

VARTA AG O.N. (VAR1.BE)

Berlin - Berlin Delayed price. Currency in EUR
Add to watchlist
109.90-4.60 (-4.02%)
As of 6:33PM CET. Market open.
Full screen
Previous close114.50
Open110.70
Bid0.00 x N/A
Ask0.00 x N/A
Day's range108.20 - 110.70
52-week range51.10 - 178.00
Volume856
Avg. volume479
Market capN/A
Beta (5Y monthly)N/A
PE ratio (TTM)N/A
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
All
News
Press releases
  • EQS Group

    VARTA AG: VARTA AG exceeds guidance, announces first-ever dividend payments and presents new brand identity

    DGAP-News: VARTA AG / Key word(s): Preliminary Results18.02.2021 / 07:00 The issuer is solely responsible for the content of this announcement. Corporate News on the preliminary, unaudited figures for 2020VARTA AG exceeds guidance, announces first-ever dividend payments and presents new brand identity Highly dynamic growth of around 140% in Group revenue to approximately € 870m Organic revenue growth excluding first-time consolidation of the Consumer business to around 47% Adjusted EBITDA rises by roughly 145% to approximately € 239m Adjusted EBITDA margin improves to around 27.5% Microbatteries & Solutions records very strong fiscal year performance Very positive development in the Household Batteries segment Start of dividend payments: roughly € 100m to be paid out Promising outlook for 2021: organic growth in revenue and profit again on the cards for fiscal year 2021 Audited financial statements for 2020 to be published on 31st March, 2021 Ellwangen, 18th February, 2021. VARTA AG can look back on the most successful fiscal year in its 135-year business history. The guidance, which had already been raised twice in the previous year, has once again been exceeded. VARTA is also looking ahead to the current fiscal year with great optimism. Due to significant investments in the expansion of production capacities, the Group expects to record additional revenue and profit growth. VARTA is today announcing its preliminary, unaudited figures for fiscal year 2020.The Company had signaled at the previous year's Annual General Meeting its intention to begin dividend payments. In light of an exceptional fiscal year, the Executive Board has resolved to make dividend payments totaling around €100m to its shareholders. The lion's share of this payout consists of a special dividend to mark an extraordinarily successful fiscal year. The dividend amounts to around € 2.50 per share. The dividend recommendation remains subject to committee approval.Following a year of record revenue results and the successful integration of the Household Batteries segment, VARTA is today also presenting its new brand identity. With the claim "Empowering Independence", moving forwards the Group is underlining its credentials as a technology company that will shape the future of battery technology to support a more independent life.Herbert Schein, CEO of VARTA AG: "We recorded growth of 140% in the prior year. Organic growth alone amounted to almost 50% - a historic result! All business segments have significantly surpassed the success of the previous year. Our small lithium-ion "CoinPower" batteries, for which demand on the market continues to be strong, remain growth drivers. Our strategy of capitalising on the brand business with our household batteries has paid off. With our new brand identity, we want to consolidate these historic developments and successful reintegration. The modernised brand strengthens VARTA as we move ahead into the future in which we will continue to grow and above all remain profitable."Armin Hessenberger, Chief Financial Officer (CFO) of VARTA AG, adds: "Our high profitability and solid equity base enable both further growth to be financed and high dividend payouts to our shareholders. We are looking ahead to 2021 with great optimism."Group revenue rose by approximately 140% to around € 870m during fiscal year 2020. Excluding the first-time consolidation of VARTA Consumer, this growth stands at around 47%. By scaling the business model, growth in operating earnings outpaced that of revenue. Adjusted EBITDA increased by around 145% to approximately € 239m. Excluding the first-time consolidation of the Consumer business, this growth amounts to around 90%. The adjusted EBITDA margin stands at around 27.5% (previous year: 26.9%). VARTA AG - Group In €m 2019(1) 2020(2) Revenue 362.7 870 140% Adjusted EBITDA 97.5 239 145% Adjusted EBITDA margin 26.9% 27.5% +0.6 PP (1) The previous year's figures have been adjusted to the new segmentation (retrospective pro forma adjustment) (2) Preliminary, unaudited company figures Very strong growth for the "Microbatteries & Solutions" segment in fiscal year 2020Revenue in the Microbatteries & Solutions segment increased very dynamically by 49% to approximately € 508m. By far the strongest revenue growth is again being recorded for rechargeable lithium-ion batteries for high-tech consumer products, particularly Premium True Wireless Stereo Headsets (TWS). This is a consequence of continued high customer demand in a market that is growing in volume by around 30% annually. As a leader in technology and innovation, VARTA AG is growing significantly faster than the market as a whole and has established a highly successful business model.VARTA has been able to further expand its market position in the rechargeable hearing aid segment. High growth has continued in its business with smart, modular energy solutions (Power Pack Solutions) due to the new customer projects that were initiated over the course of the prior year.Once again, there was a step-change improvement in adjusted EBITDA, rising on this occasion by 96% to approximately € 187m, comfortably exceeding revenue growth in the process. The adjusted EBITDA margin has markedly improved by approximately 8.9 percentage points and now amounts to 36.9% of revenue. Microbatteries & Solutions segment In €m 2019(1) 2020(2) Revenue 341 508 49% Adjusted EBITDA 95 187 96% Adjusted EBITDA margin 28.0% 36.9% +8.9 PP (1) The previous year's figures have been adjusted to the new segmentation (retrospective pro forma adjustment) (2) Preliminary, unaudited company figures Household Batteries segment makes further positive contribution to growthThe Household Batteries segment encompasses Consumer Batteries in addition to the energy storage solutions business. In the previous year, only the energy storage solutions business was included in the segment reporting. The revenue share of Consumer Batteries is around 90% and Consumer Batteries has developed better than expected during the reporting period. Profitability has improved during the year by focusing on the brand business, while the energy storage solutions business has seen very dynamic growth that outpaced the market. Household Batteries segment: In €m 2019(1) 2020(2) Revenue 21 361 n.a Adjusted EBITDA 2 52 n.a Adjusted EBITDA margin 9.3% 14.3% +5.0 PP (1) The previous year's figures have been adjusted to the new segmentation (retrospective pro forma adjustment) (2) Preliminary, unaudited company figures Modernised brand profile reflects further development of the companyAs a technology company, VARTA is capitalising on the consequent further development of its logo with the redesign of its brand identity. The distinctive "VARTA beam", a V-shaped ray of light that has always been part of the logo, has been retained as a key element, refined and given elevated status within the new identity. The font has been modernized and reflects VARTA's realignment as a technology company. With its new brand claim "Empowering Independence", VARTA is placing an even greater focus on its customers and partners in addition to underlining its corporate vision: We are defining the future of battery technology to empower more independent lifes" The timing of the new brand identity is deliberate: one year after the successful reintegration of the Household Batteries segment and looking back on a year of historical business development.Outlook: Further revenue growth and above-average profit increase expectedVARTA AG is looking ahead to fiscal year 2021 with great optimism. The structural growth in the core markets, what we regard as our strong market position in these core markets and the planned expansion of production capacities for lithium-ion batteries will lead to positive business development in fiscal year 2021. The company is additionally very well positioned despite the ongoing COVID-19 pandemic. Production at our own locations has been uninterrupted since the start of the pandemic, with supply chains being unaffected as well.[1]The Group is anticipating high organic revenue growth and a significant double-digit percentage profit increase for the current fiscal year. Revenue is expected to total around € 940m. Growth is above all expected in the second half of the year. Above-average growth to up to 30% of revenue is anticipated for the relative margin of adjusted operating income. This equates to an increase of up to 2.5 percentage points and underscores the VARTA Group's earning power. The demand for rechargeable VARTA lithium-ion batteries for high-tech consumer products, above all TWS (True Wireless Stereo Headsets), remains very high. As a leader in technology and innovation, VARTA is benefiting from the trend towards ever smaller and more powerful button cell batteries.VARTA AG has benefitted from a funding commitment totaling around € 300m as part of an Important Common Project of European Interest (ICPEI). The funds are to be put towards research and development in lithium-ion technology and the development of new lithium-ion batteries. In the fourth quarter of the year, VARTA will start operating a pilot line for the automated production of larger battery formats at its Ellwangen site.The audited financial statements for fiscal year 2020 will be published on March 31, 2021. Preliminary results can be found at: https:// https://www.varta-ag.com/publications/ Dates: March 31, 2021 Annual financial statements 2020 May 12, 2021 June 17, 2021 Interim report Q1 2021 Annual General Meeting August 13, 2021 Half-year report 2021 November 11, 2020 Interim report Q3 2021 Contact: Bernhard Wolf Dr. Christian Kucznierz Head of Investor Relations Head of Corporate Communications Tel: +49 79 61 921-969 T: +49 79 61 921 2727 bernhard.wolf@varta-ag.com christian.kucznierz@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 recognised 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 almost 4,800 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] Adverse impacts on our customers' businesses as a result of COVID-19 and USD/EUR exchange rate fluctuations cannot be ruled out. At the time of publication of this Corporate News, these effects were not assessable and could therefore not be factored into planning.18.02.2021 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: 1169172 End of News DGAP News Service

  • EQS Group

    VARTA AG: VARTA AG announces high dividend payout for 2020

    VARTA AG / Key word(s): DividendVARTA AG: VARTA AG announces high dividend payout for 202017-Feb-2021 / 19:28 CET/CESTDisclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.VARTA AG, Ellwangen, ISIN: DE000A0TGJ55 Publication of insider information pursuant to Article 17 of Regulation (EU) No 596/2014 VARTA AG announces high dividend payout for 2020Ellwangen, February 17, 2021The preliminary, unaudited figures of VARTA AG (VARTA) for the 2020 fiscal year will be published tomorrow.In view of these preliminary figures, the Executive Board has today resolved for the first time to propose a dividend payment for fiscal year 2020 to the Annual General Meeting on June 17, 2021.In total, around € 100m is to be paid out to VARTA shareholders.The lion's share of this payout consists of a special dividend to mark an extraordinarily successful fiscal year. The dividend amounts to around € 2.50 per share.The dividend recommendation remains subject to committee approval.Guidance for fiscal year 2021 envisages revenue of approximately € 940m. The adjusted EBITA margin is set to experience above-average growth of up to 2,5 percentage points, rising to up to 30% in the process.The preliminary figures are set to be released tomorrow, February 18th, 2021, with the complete and audited figures for fiscal year 2020 scheduled for publication on March 31, 2021.17-Feb-2021 CET/CEST 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: 1169166 End of Announcement DGAP News Service

  • 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