Preliminary results for the first half of 2022 and adjustment to the outlook for the current fiscal year

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VARTA AG / Key word(s): Changing forecasts
VARTA AG: Preliminary results for the first half of 2022 and adjustment of the outlook for the current financial year

30-Jul-2022 / 08:54 CET/CEST
Disclosure of inside information acc. in Article 17 MAR of 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 code: DE000A0TGJ55

Publication of inside information in accordance with Article 17 of Regulation (EU) no. 596/2014

Preliminary results for the first half of 2022 and adjustment to the outlook for the current fiscal year

Ellwangen, 30 years olde July 2022

VARTA AG: Preliminary results for the first half of 2022 and adjustment of the outlook for the current financial year

  • Revenue decreased by 5.2% to €376.8 million (half-year 2021: €397.6 million)

  • Adjusted EBITDA reached 68.9 million euros (1st half of 2021: 112.3 million euros) and is below expectations

  • Outlook for 2022 adjusted

Ellwangen, July 30, 2022 – According to preliminary figures, VARTA AG achieved sales of 376.8 million euros in the first half of 2022 (half-year 2021: 397.6 million euros). This corresponds to a drop in sales of 5.2% compared to the same period last year.

Preliminary adjusted EBITDA (earnings before interest, tax, depreciation and amortization) was €68.9 million (first half 2021: €112.3 million), which was below our expectations.

The main reasons are delays in customer projects as well as the still tense situation with raw materials, energy prices and high transport costs.

In the context of increased uncertainties during the year, the Management Board has decided to update the forecasts for the year. The Management Board expects revenue of €880 million to €920 million (previously €950 million to €1 billion) and adjusted EBITDA of €200 million to 225 million euros (previously from 260 million euros to 280 million euros).

The final figures for the first half of 2022 will be announced on 11e August 2022 at https://www.varta-ag.com/publications.

July 30, 2022 CET/CEST DGAP distribution services include regulatory announcements, financial/corporate news and press releases.
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