Confirmed objectives: Varta’s share collapses double-digit: Varta drops sales and operating profit | news

The battery maker, which is listed on MDAX and TecDAX, confirmed its targets for the full year and also released the first indications for the second quarter.

Adjusted operating profit before interest, taxes, depreciation (adjusted EBITDA) fell to € 38.1 million from € 60 million in the January-March period. The margin worsened as sales decreased less significantly to € 185.3 million from € 204 million.

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

For the full year, Varta continues to expect sales of between € 950 million and approximately € 1 billion, with adjusted EBITDA of between € 260 and 280 million.

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

Varta collapses to a two-year low – confidence given

The once acclaimed Varta papers fell Thursday with double-digit price cuts to their lowest level in more than two years. In the very weak global market, they still lost 12.78 percent to EUR 70.02 via XETRA to last place in the MDAX.

After a tough start to the year, the battery company expects lower second quarter earnings than a year earlier, but is sticking to its annual outlook. However, targets for the year as a whole increasingly depend on a late recovery, explained a Brsian of investor uncertainty.

After the noted setback in the first three months due to weaker demand for rechargeable lithium-ion button cells and start-up costs for the expansion of production, sales in the second quarter are expected to be between 195 and 205 million euros. The company expects a profit before interest, taxes, adjusted depreciation for special effects of between 34 and 38 million euros. In terms of both sales and earnings, analysts were more in danger.

After the IPO in October 2017, Varta shares had developed very well with an issue price of EUR 17.50 and reached a record high of EUR 181.30 in early 2021. Market participants were happy to cite the good order situation as one of the reasons for the price strength, also thanks to the allegedly large customer Apple.

After an intermediate high in August 2021 at around 166 euros, it then dropped continuously. In 2022, the loss will reach 39%.


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