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VARTA AG
Earnings Release • Jul 30, 2022
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Earnings Release
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Ad-hoc | 30 July 2022 08:54
VARTA AG: Preliminary results for the first half of 2022 and adjustment of outlook for the current financial year
VARTA AG / Key word(s): Change in Forecast
VARTA AG: Preliminary results for the first half of 2022 and adjustment of outlook for the current financial year
30-Jul-2022 / 08:54 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
VARTA AG, Ellwangen, ISIN: DE000A0TGJ55
Publication of insider information pursuant to Article 17 of Regulation (EU) Nr. 596/2014
Preliminary results for the first half of 2022 and adjustment of outlook for the current financial year
Ellwangen, 30 th July 2022
VARTA AG: Preliminary results for the first half of 2022 and adjustment of outlook for the current financial year
- Revenue was declining by 5.2% to 376.8 EUR million (Half year 2021: 397.6 EUR million)
- Adjusted EBITDA reaches 68.9 EUR million (Half year 2021: 112.3 EUR million) and is below expectations
- Outlook for 2022 adjusted
Ellwangen, July 30th, 2022 – According to preliminary figures, VARTA AG achieved revenue of EUR 376.8 million in the first half of 2022 (Half year 2021: EUR 397.6 million). This corresponds to a decline in sales of 5.2% percent compared to the same period last year.
Preliminary adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) was EUR 68.9 million (first half of 2021: EUR 112.3 million), which was below our expectations.
The main reasons are delays in customer projects as well as the continuing tense situation with raw material, energy prices and high transport costs.
Against the background of the increased uncertainties in the course of the year, the Executive Board has decided to update the forecast for the financial year. The Executive Board expects a revenue of EUR 880 million to EUR 920 million (previously EUR 950 million to EUR 1 billion) and an adjusted EBITDA of EUR 200 million to EUR 225 million (previously EUR 260 million to EUR 280 million).
The final figures for the first half of 2022 will be announced on 11 th August 2022 at https://www.varta-ag.com/publications.
30-Jul-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | VARTA AG |
| VARTA-Platz 1 | |
| 73479 Ellwangen | |
| Germany | |
| Phone: | +49 (0)791-921-0 |
| E-mail: | [email protected] |
| Internet: | www.varta-ag.com |
| ISIN: | DE000A0TGJ55 |
| WKN: | A0TGJ5 |
| Indices: | MDAX, TecDax |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1409687 |
| End of Announcement | DGAP News Service |