Revenue is now expected to be in a range between EUR 320 and 330m, compared to the previously communicated range of EUR 310 to 315m. Since we continue to have a high order backlog despite the macroeconomic conditions, we are increasing the revenue and earnings forecast for the 2020 financial year. "Chief Financial Officer (CFO) Steffen Munz adds: “We have increased the high revenue and earnings growth of the past in the first half of the year and improved profitability again.
The Group can look back on yet another successful fiscal year. Group revenue grew by … On the back of the very strong results in the first half of 2019 in addition to an enormous and steadily growing order backlog, VARTA AG again raises its revenue and adjusted EBITDA guidance for fiscal year 2019. This corresponds to a revenue growth of between 123% and 129% compared to the previous year (including VARTA Consumer). A very high order backlog will allow us to further accelerate the high revenue and earnings growth in 2020.”Group revenue rose by approximately 34% to around € 364m during fiscal year 2019. The Federal Ministry of Economics (BMWi) and the states of Bavaria and Baden-Württemberg announced on 29Following the very good revenue and earnings development in the first half of the year and the continuing high order backlog, the group is increasing its revenue and earnings forecast for the 2020 financial year: The revenue forecast will be increased from EUR 780 to 800 million to EUR 810 to 830 million. By massively expanding our production capacities, growth in the area of lithium-ion batteries will again be significantly accelerated. Group revenue grow in the first half of 2020 by almost 158% to EUR 390.7 million (+66.5% without the acquisition of VARTA Consumer)Adjusted group EBITDA even increases by 174% to EUR 102.1 million (+124.8% without acquisition of VARTA Consumer)Adjusted group EBITDA margin improves by 1.5 percentage points to 26.1%"Microbatteries & Solutions" segment: H1 revenue EUR 239.7 million (+70%), adjusted EBITDA EUR 82.4 million (+132%), margin 34.4% (+9.1PP)"Household Batteries" segment better than expected: H1 revenue EUR 150.8 million, adjusted EBITDA EUR 19.7 million, margin 13,0% (-3.1PP)Expansion of the production capacities for lithium-ion batteries to 300 million cells annually by the end of 2021Group revenue between EUR 810 and 830 million (previously: EUR 780-800 million);Adjusted group EBITDA between EUR 210 and 215 million (previously: EUR 175-185 million); CAPEX for further capacity expansion between EUR 320 and 360 million (previously: EUR 300-330 million)VARTA signs supply contract with Samsung and settles dispute over patent infringements with headset manufacturer The “Household Batteries” segment covers the battery business for end customers, including household batteries, rechargeable batteries, chargers, portable power (power banks), lights and energy storage systems.The VARTA AG Group, headquartered in Ellwangen, currently employs almost 4,000 staff. VARTA AG ("VARTA") raises the guidance for fiscal year 2020 due to the strong first half year and the continuous high order backlog. VARTA increases energy density of lithium-ion batteries by around 30 percent and extends again its innovation lead.VARTA AG to retain net profit in fiscal year 2019 to strengthen internal financing capability for additional investments. The group profit more than doubled with an increase of 104.9% to 39.8 million EUR.Herbert Schein, CEO of VARTA AG: “We have more than doubled revenue and almost tripled the operating result. Organic revenue growth was 66.5% (without first-time consolidation of VARTA Consumer). By doing so, VARTA can respond quickly and flexibly to increasing demand. This positive result is partly due to the unexpectedly strong development of VARTA Consumer Batteries, the profitability of which has improved significantly due to the focus on brand business. "Revenue in the “Microbatteries & Solutions” segment rose in the first six months by 70.2% to EUR 239.7 million. The strong revenue and earnings growth was once again accelerated, exceeding the most recent guidance from October. All business areas contributed to this gratifying result in the first half of the year, with our lithium-ion cells continuing to record the highest growth rates. In addition to a reputation as leaders of technology and innovation, VARTA also stands out on account of its proprietary mechanical engineering and tool manufacturing facility and its highly automated mass production. The Group has made a positive start to the new fiscal year, building upon the substantial organic growth in revenue and income achieved in the past. The adjusted EBITDA margin improved by roughly 8.4PP to around 26.9%.Highly dynamic growth in revenue, equating to an increase of around 38% to roughly € 302m, was recorded in the “Microbatteries” segment. Due to significant investments in the expansion of production capacities, the Group expects to further accelerate the revenue … The strong revenue and earnings growth was once again accelerated, exceeding the most recent guidance from October.VARTA AG is looking ahead to fiscal year 2020 with great optimism. VARTA AG with very high growth dynamics in the first half of 2020 - forecast for the 2020 financial year will be raised Group revenue grow in the first half of 2020 by almost 158% to EUR 390.7 million (+66.5% without the acquisition of VARTA Consumer) For this purpose, the company is planning an additional investment volume of around EUR 175 million. As the parent company of the Group, it is active in the “Microbatteries & Solutions” and “Household Batteries” business segments.The “Microbatteries & Solutions” segment focuses on the OEM business for microbatteries and the lithium-ion battery pack business.