EQS-Adhoc

VARTA AG: New forecast for the 2022 financial year and forecast for the 2023 financial year - Seite 2

In the 2022 financial year, the Executive Board of VARTA AG now expects to achieve revenue of between EUR 805 and 820 million (2021: EUR 902.9 million). This corresponds to a decline in revenue of about 10 % compared to the 2021 financial year. The preliminary adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) in the 2022 financial year will amount to EUR 55-60 million (2021: EUR 282.9 million) according to the estimates of the Executive Board and is thus significantly below the previous year's result.

In order to meet the current and future challenges, the Executive Board has developed a comprehensive package of measures to reduce costs, which also includes temporary short-time work at the production site in Nördlingen.

For the financial year 2023, the Executive Board of VARTA AG expects revenue between EUR 850 and 880 million and assumes an adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) in the financial year 2023 of EUR 90-110 million. This forecast is based on the assumption that the challenging economic situation and the existing global crises will continue in 2023, with corresponding negative consequences for costs, supply chains and consumer demand. The forecast ranges take these expected negative developments into account. However, the further course of developments in energy costs, raw material prices and supply chains can currently only be estimated to a very limited extent with regard to 2023.Therefore, the forecast for the 2023 financial year is subject to higher uncertainties than is otherwise the case.
 

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15-Nov-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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Language:	English
Company:	VARTA AG
	VARTA-Platz 1
	73479 Ellwangen
	Germany
Phone:	[phone]
E-mail:	[e-mail]
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:	1487987