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    EQS-Adhoc  205  0 Kommentare VARTA AG: VARTA AG adjusts revenue forecast for 2024 due to further slowdown in the energy storage market

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    • VARTA AG adjusts revenue forecast for 2024
    • Market slowdown in energy storage sector
    • Revenue expected between €820-870 million

    EQS-Ad-hoc: VARTA AG / Key word(s): Change in Forecast
    VARTA AG: VARTA AG adjusts revenue forecast for 2024 due to further slowdown in the energy storage market

    20-Jun-2024 / 20:20 CET/CEST
    Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
    The issuer is solely responsible for the content of this announcement.


    VARTA AG, Ellwangen, ISIN: DE000A0TGJ55 
     
    Release of inside information pursuant to Article 17 of Regulation (EU) No 596/2014 
     
    VARTA AG adjusts revenue forecast for 2024 due to further slowdown in the energy storage market
     
    Ellwangen, June 20, 2024
     
    Based on current business developments in the first half of 2024, VARTA AG is revising its revenue forecast for fiscal year 2024 issued on August 11, 2023. The Ellwangen-based technology company now expects revenue between € 820 million and € 870 million (previous forecast: at least € 900 million).

    The reason for the adjustment is a further significant deterioration in the market environment for energy storage systems, especially in the second quarter of the current year. In addition to a noticeable decline in overall market demand, the market segment for AC (alternating current) energy storage systems in particular, which VARTA serves with its existing product line, is currently losing market share in the domestic market. Delays in connection with the product launch of the DC (direct current)-coupled high-voltage storage system VARTA.wall, with which VARTA plans to enter the largest market segment of the energy storage market in terms of volume (DC storage systems), are also having a negative impact on revenue development in 2024 and contribute to the wide forecast range.
     
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    End of Inside Information

    20-Jun-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
    Archive at www.eqs-news.com


    Language: English
    Company: VARTA AG
    VARTA-Platz 1
    73479 Ellwangen
    Germany
    Phone: +49 (0)791-921-0
    E-mail: info@varta-ag.com
    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
    EQS News ID: 1930101

     
    End of Announcement EQS News Service

    1930101  20-Jun-2024 CET/CEST

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    EQS-Adhoc VARTA AG: VARTA AG adjusts revenue forecast for 2024 due to further slowdown in the energy storage market EQS-Ad-hoc: VARTA AG / Key word(s): Change in Forecast VARTA AG: VARTA AG adjusts revenue forecast for 2024 due to further slowdown in the energy storage market 20-Jun-2024 / 20:20 CET/CEST Disclosure of an inside information acc. to Article 17 MAR …

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