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Varta AG

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  1. forum rang 10 DeZwarteRidder 12 april 2024 16:54
    Varta AG, through its subsidiaries, engages in the research, development, production, and sale of micro and household batteries, large-format batteries, battery solutions, and energy storage systems in Europe, Asia, North America, and internationally. It operates in five segments: Micro Batteries, Lithium-Ion CoinPower, Consumer Batteries, Energy Storage Systems, and Other. The Micro Batteries segments offers zinc-air batteries under the power one and ecopack brand names for use in microbatteries and hearing aid devices. The Lithium-Ion CoinPower segment provides lithium-ion battery solutions for wireless headphones for medical devices to measure hypertension, blood sugar, and other bodily functions, as well as the power supply for COVID19 antibody tests. The Consumer Batteries segment offers household batteries, rechargeable batteries, power banks, chargers, and lights. The Energy Storage Systems segment provides energy storage solutions for the home and mass storage markets. The Other segment offers lithium-ion large cells product for rechargeable battery solutions for industrial and original equipment manufacturers for applications, such as servers, applications in alarm systems, or smart meters; and produces rechargeable, standardized, and customized battery packs for industrial and wireless applications. This segment is also involved in the development, system integration, and assembly of lithium-ion battery packs for portable industrial, communication devices, electric power tool, home, garden, and medical applications. The company was founded in 1887 and is headquartered in Ellwangen, Germany. Varta AG is a subsidiary of Montana Tech Components AG.
  2. forum rang 10 DeZwarteRidder 12 april 2024 16:57
    Koersval Varta met ca 32% naar ca 9,50:
    =================================

    Investing.com -- A price drop that makes shareholders sit up and take notice - shares of battery company Varta (ETR:VAR1) are experiencing a turbulent day at the Frankfurt Stock Exchange. A skeptical comment on the achievability of the annual targets has unsettled investors and further strengthened the already dynamic downward trend. The result: a new low. With a loss of over 9%, the shares last traded at €17.07.

    In a recent study, analyst Philipp König of Goldman Sachs recommended selling Varta shares and lowered the price target to €15, which corresponds to a halving, as reported by dpa-AFX. König sees risks to the company's revenue and earnings targets, as these assume a significant recovery in CoinPower's sales volumes. However, these are dependent on customer decisions that are still unclear, he stressed. In the profitable lithium-ion button cell business, Varta lost market shares last year. The expert also sees hardly any positive developments in other business areas.

    Varta shares have already lost almost 25% of their value in 2023. But it looks even worse looking back at the peak in early 2021: with a loss in value of a considerable 90%, shares are now in a veritable nosedive.

    Investors and shareholders of Varta certainly hoped for more than experiencing such a drastic downward movement. The loss of value in 2023 is a further signal of the ongoing challenges facing the German battery company.

    The former high of over €181 is now just a distant memory. The decline in Varta shares has hit many investors hard.

    The average price target of 7 analysts covered by InvestingPro is currently €23.93. The fair value determined by InvestingPro (€20.72), which is made up of 15 financial models, currently results in an earnings potential of 21.5%.

    (Translated from German)
  3. forum rang 10 DeZwarteRidder 12 april 2024 17:24
    Varta Shares Tumble After Market Challenges Increase, Restructuring Plan Deemed Unfit
    Published: April 12, 2024 at 4:29 a.m. ET
    comments

    By Pierre Bertrand

    Varta shares dropped on Friday after the battery manufacturer said its markets continued to deteriorate, with demand for some of its products declining more than expected, leading the company to re-evaluate a previously agreed restructuring plan.

    At 0822 GMT, shares traded 27% down to EUR10.28.

    Varta said its business was hit with further economic deterioration and volatile forecast purchase volumes by customers. It added that demand for energy storage solutions declined unexpectedly and significantly, while it faced supply-chain problems and competitors' aggressive pricing.

    In addition, a cyberattack, which hit the company in February, affected the company's production and financial position, Varta said.

    Therefore, the previously agreed restructuring measures, which were to be implemented by the end of 2026, and corporate strategy are no longer appropriate and wouldn't lead to a return to profitable growth, it said.

    Varta added it is yet too early to comment on possible adjustments or further restructuring and financing measures, but that it assumes that an updated plan would be available by mid-2024.

    Varta embarked on a restructuring effort in March last year as it sought to overcome a slump in profits in 2022.

    Write to Pierre Bertrand at pierre.bertrand@wsj.com
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