Varta AG

Latest Results (07.08.2024):

Revenue Growth

In the third quarter of 2023, Varta AG reported a significant increase in revenue, reaching €215.1 million. This marks an 11% rise compared to the same quarter in the previous year, where revenue stood at €193.9 million. The growth was driven by rising seasonal demand, successful restructuring measures, and selective price adjustments.

Adjusted EBITDA Improvement

Varta AG's adjusted EBITDA for Q3 2023 showed a remarkable improvement, amounting to €29.4 million. This is a substantial turnaround from Q3 2022, where the adjusted EBITDA was negative at -€2.5 million. The improvement is attributed to falling material and energy costs, as well as effective cost reduction measures.

Profitability and Earnings

Despite the challenges faced in the previous quarters, Varta AG managed to achieve its best quarter of the current financial year in Q3 2023. The company's efforts in restructuring and cost management have positively impacted its profitability, with a notable increase in earnings compared to the same period last year.

Guidance and Outlook

Varta AG has confirmed its guidance for the full year 2023, expecting revenue to be around €820 million. The company also anticipates an adjusted EBITDA between €40 million and €60 million by the end of the year. The positive development in Q3 2023 and the traditionally stronger second half of the year contribute to this optimistic outlook.

Segment Performance

Varta AG's various business segments showed strong performance in Q3 2023. The Micro Batteries segment maintained its leading global position, while the Lithium-Ion CoinPower segment exhibited significant improvement. The Consumer Batteries segment remained stable, and the Energy Storage Systems segment continued to be a sustainable growth driver for the company.