Varta is a success story „made in Germany”. As a leading global battery supplier in the booming renewable energy market segments, the company stands for the future of energy.
But already before the recent publication of Varta’s quarterly figures, investors realized profits. The reason for the sharp fall in prices were the significantly weaker half-year figures. Although the group revenue increased by 1.8% to €397.6m in the first six months of 2021 and the adjusted EBITDA rose by around 10% to €112.3m.
However, analysts had expected sales of €405m and an adjusted EBITDA of €116m.
Following the rapid growth in the last years, Varta is currently profiting from its very robust business model in primary hearing aid batteries and from the increase in demand for rechargeable lithium-ion batteries. All in all, the company’s consolidated result grew by 14.3% to €45.6m.
VARTA AG has once again proved that it delivers on its promises. In the second half of the year, we will improve on the good results of the first six months and meet the targets defined in the guidance.
Varta’s management also believes that the company is in a position to further increase its profitability. Varta expects higher growth rates in the second half of the year based on its focus on innovation and its expertise in the lithium-ion segment.
The product portfolio remains highly attractive. At the end of this year, the pilot production of the new ultra-high-performance lithium-ion round cell V4Drive in the 21700 format will begin. A customer order has already been confirmed for the cells.