AI Terminal
VARTA AG
Earnings Release • Nov 22, 2017
460_rns_2017-11-22_de74ff50-a675-46a0-ac10-cc628b9aa4da.html
Earnings Release
Open in ViewerOpens in native device viewer
News Details
Corporate | 22 November 2017 07:40
VARTA AG: Q3-Statement / Q3 Financial Report 2017 (news with additional features)
DGAP-News: VARTA AG / Key word(s): Quarterly / Interim Statement
22.11.2017 / 07:40
The issuer is solely responsible for the content of this announcement.
Quarterly Report
Ellwangen, November 22, 2017
VARTA AG releases report for the first nine months 2017
– Long-established Ellwangen-based company looks back on the most successful nine months of its recent history
– Sales of EUR 180.2 million is 12.1% above the previous year
– Revenue figures EBITDA of 91.1% and EBIT of 104.1% have clearly improved compared to the same period of the previous year
– Sales increase in all segments
– Successful implementation of investment activities for expansion of lithium-ion production capacity
VARTA AG, a global expert for microbatteries and market leader for hearing aids batteries as well as for solutions for hearables, power packs and energy storage, today releases its quarterly report for the first nine months 2017. A very good start in the first half of 2017 could be successfully continued in the third quarter 2017.
Herbert Schein, CEO VARTA AG: “There is still a high demand in our products, in particular in small lithium-ion batteries. With a sales increase of more than 12% compared to the same period of the previous year, we were able to generate total sales of EUR 180.2 million. This positive development is due to the consistent continuation of our company strategy. We benefit from the trends towards cordless power solutions in the areas of entertainment, health care as well as battery packs and energy storage,” emphasizes the CEO of the company, that can look back on 130 years of tradition.
CFO Dr. Michael Pistauer comments on the Q3 results: “After a successful initial public offering, we see ourselves to be well on track. The high demand has brought us a positive result, as expected – and this success continues. Due to continuous optimization of innovations as well as product efficiency, we are able to present this encouraging result. We were also able to significantly increase the EBIT margin by 6.6 percent points to 14.7% year-on-year. The EBIT of the first nine months with EUR 26.5 million is already 78.6% higher compared to the EBIT of the entire year 2016 (EUR 14.8 million).”
The very good start at the Frankfurt Stock Exchange provides the company with the possibility to expand further growth in particular in the area of microbatteries. The major investments of the first nine months were used for the expansion of the lithium-ion production capacity.
Immediately after the first listing on October 19, 2017, VARTA AG started with a comprehensive investment program in Germany as well as in its foreign subsidiaries.
Selected financial key figures
| (in k EUR) according to IFRS, not verified | Jan. 01 to Sept. 30, 2017 |
Jan. 01 to Sept. 30, 2016 |
Changes in k EUR |
Changes in % |
| Net sales | 180,172 | 160,753 | 19,419 | 12.1% |
| thereof “Microbatteries” | 151,363 | 133,478 | ||
| thereof “Power and Energy” | 28,241 | 25,933 | ||
| Operating profit or loss (EBIT) | 26,510 | 12,986 | 13,524 | 104.1% |
| in % of net sales | 14.7% | 8.1% | ||
| Depreciation and amortization | 6,955 | 6,571 | 384 | 5.8% |
| EBITDA | 33,465 | 19,557 | 13,908 | 71.1% |
| in % of net sales | 18.6% | 12.2% | ||
| Adjustments | ||||
| Expenditures for going public and IPO | 777 | 1,519 | ||
| Assumption of debt pensions | -3,629 | 0 | ||
| Adjusted EBITDA | 30,613 | 21,076 | 9,537 | 45.3% |
| in % of net sales | 17.0% | 13.1% | ||
| Earnings before taxes (EBT) | 23,292 | 10,763 | 12,529 | 116.4% |
| in % of net sales | 12.9% | 6.7% | ||
| Consolidated result | 17,700 | 8,655 | 9,045 | 104.5% |
| Cash flows from operating activities | 12,263 | -1,020 | ||
| Cash flows from investing activities | -12,236 | -20,510 | ||
| Cash flows from financing activities | -2,771 | 18,979 | ||
| Employees (FTE) as of Sept. 30 | 2,069 | 2,045 | ||
| Earnings per Share (EPS) in EUR | 0.55 | 0.52 |
| (in k EUR) according to IFRS, not verified | Sept. 30, 2017 | Dec. 31, 2016 | Changes in k EUR |
Changes in % |
| Balance sheet figures | ||||
| Balance sheet total | 181,758 | 164,928 | 16,830 | 10.2% |
| Non-current assets | 90,794 | 81,640 | 9,154 | 11.2% |
| Current assets | 90,964 | 83,288 | 7,676 | 9.2% |
| thereof liquid funds | 9,128 | 12,347 | -3,219 | -26.1% |
| Shareholder’s equity | 81,446 | 65,291 | 16,155 | 9.4% |
| in % of balance sheet total | 44.8% | 39.6% | ||
| thereof issued share capital | 29,600 | 29,600 | 0 | 0 |
| Non-current liabilities | 41,647 | 44,585 | -2,938 | -6.6% |
| Current liabilities | 58,665 | 55,052 | 3,613 | 6.6% |
| Financial liabilities, net | 12,921 | 31,927 | -19,006 | -59.5% |
| Trade working capital | 49,896 | 36,205 | 13,691 | 37.8% |
Due to the very positive result for the third quarter 2017, VARTA AG therefore still expects for the full year 2017 a significantly improved result as compared to the previous year.
Contact:
Julia Weber
Investor Relations
Daimlerstrasse 1
73479 Ellwangen
About VARTA AG
VARTA AG as the group’s parent company operates via its subsidiaries VARTA Microbattery GmbH and VARTA Storage GmbH in the business segments microbatteries and power & energy. Already today, VARTA Microbattery GmbH is innovation leader in the area of microbatteries, one of the market leaders for hearing aids batteries and strives to also become market leader for lithium-ion batteries in the area of wearables and in particular hearables. VARTA Storage GmbH is focused on intelligent energy solutions for customized battery storage systems for OEMs as well as on design, system integration and mounting of stationary lithium-ion energy storage systems. With its five production and manufacturing facilities in Europe and Asia as well as sales offices in Asia, Europe and the USA, the operating subsidiaries of VARTA AG group are currently active in more the 75 countries worldwide.
Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=FOIAOGXAWI
Document title: Quarterly Statement Q3 2017
22.11.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | VARTA AG |
| Daimlerstraße 1 | |
| 73479 Ellwangen | |
| Germany | |
| Phone: | +49 (0)791-921-0 |
| E-mail: | [email protected] |
| 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 |
| End of News | DGAP News Service |