Put companies on watchlist
VARTA AG
ISIN: DE000A0TGJ55
WKN: A0TGJ5
About
Company Snapshot
New: Enable Investor Alerts
Be informed about new publications
New: AI Factsheet

Corporate News meets AI! 
Content analysis and summary

EN GIF 300X250

VARTA AG · ISIN: DE000A0TGJ55 · EQS - adhoc news (67 News)
Country: Germany · Primary market: Germany · EQS NID: 2007107
11 October 2024 02:22PM

VARTA AG reduces revenue forecast for the current fiscal year due to further slowdown in the energy storage market and lower revenue planned for Lithium-Ion Large Cells in 2024


EQS-Ad-hoc: VARTA AG / Key word(s): Change in Forecast
VARTA AG: VARTA AG reduces revenue forecast for the current fiscal year due to further slowdown in the energy storage market and lower revenue planned for Lithium-Ion Large Cells in 2024

11-Oct-2024 / 14:22 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


VARTA AG, Ellwangen, ISIN: DE000A0TGJ55  

Publication of inside information pursuant to Article 17 of Regulation (EU) No 596/2014

VARTA AG reduces revenue forecast for the current fiscal year due to further slowdown in the energy storage market and lower revenue planned for Lithium-Ion Large Cells in 2024
 
Ellwangen, October 11, 2024 – On the basis of current business developments, VARTA AG is adjusting its revenue forecast for fiscal year 2024. The Ellwangen-based technology company now expects revenues of € 750m to € 800m (previous forecast: € 820m to € 870m).

The background to the adjustment is, despite stable sales of household and hearing aid batteries, on the one hand, a further deterioration in the market environment for energy storage solutions, and, on the other hand, lower sales in the Lithium-Ion Large Cells business unit.

In the Energy Storage Systems business unit, revenue development was negatively affected not only by delays in connection with the product launch of the DC (direct current)-coupled high-voltage storage system VARTA.wall, but also, in particular, by the general weakness in market demand for energy storage systems. In addition, the negative impact on VARTA AG's public image and reputation since the initiation of the StaRUG proceedings led to a further significant slump in sales figures for energy storage systems. The new broad forecast range also takes into account volatile production and sales volumes in the Lithium-Ion Large Cells segment as well as not uncommon postponements in key date settlements at the end of the year. These factors make it difficult to forecast revenue in fiscal year 2024 accurately.



Contact:
Investors:
Emanuel Sican
Head of Investor Relations
IR@varta-ag.com

Press and media:
Dirk Schmitt
Press Spokesman (interim)
PR@varta-ag.com


End of Inside Information

11-Oct-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


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
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 2007107

 
End of Announcement EQS News Service

2007107  11-Oct-2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=2007107&application_name=news&site_id=boersengefluester~~~ace3d64b-2049-452a-8d18-fbc8044c4b5f
Visual performance / price development - VARTA AG
Smart analysis and research tools can be found here.

This publication was provided by our content partner EQS3.

EQS Newswire
via EQS - Newsfeed
EQS Group AG ©2024
(DGAP)
Contact:
Karlstraße 47 D-80333 München
+49 (0) 89 444 430-000

 

SMART * AD
EN GIF 970X250

P R O D U C T   S U G G E S T I O N S

The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.


The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.

If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.

For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.


1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.