VARTA AG, DE000A0TGJ55

VARTA AG, DE000A0TGJ55

10.04.2018 - 09:06:40

VARTA AG: Growth continues at VARTA AG with highly successful 2017

Corporate NewsGrowth continues at VARTA AG with highly successful 2017

- 2017 the most successful fiscal year in the company's recent history

- Sales of EUR 242.2 million 13% up on the previous year

- Adjusted EBITDA increases 50% and EBIT 59% - a further big improvement on 2016

- Microbatteries and Power & Energy segments both grow significantly

- Massive investment program to expand production capacities

Ellwangen: VARTA AG, a global expert in microbatteries and a market leader in hearing aid batteries, is today publishing its Group results for 2017. The figures for the last fiscal year show that profitable growth is continuing, with a highly successful 2017.

"There is still a very high demand for our products. With a sales increase of more than 13% compared to the previous year, we were able to generate total sales of EUR 242.2 million. This positive development is due to the consistent continuation of our growth strategy. The technological lead we enjoy has enabled us to assume a leading market position in the key market segments for our areas of business," says Herbert Schein, CEO of VARTA AG.

"After the successful IPO, we see ourselves as being well on track overall. Thanks to the funds from the IPO, we're continuously increasing the capacity for further growth. The strategy and structure of VARTA AG are primed for growth built on strong results. This paid off for us in 2017 with an increase in the adjusted EBITDA margin by just under a third to 16%," adds Dr. Michael Pistauer, member of the Management Board.

The other revenue figures also reflected the trend towards growth built on strong results:

EBIT grew by 59% from EUR 14.8 million to EUR 23.6 million and group profits rose 44% in 2017 to EUR 13.5 million.

The equity ratio increased to 70% due to the IPO and the positive development of the results. The Group shows a net cash position of over EUR 130.1 million at the end of 2017.

Both segments of VARTA AG reported growth for 2017. Driven by hearing aid batteries and lithium-ion batteries, the Microbatteries segment grew 15% to EUR 203.6 million. Adjusted EBITDA rose by as much as 30% to EUR 43.7 million, equating to an adjusted EBITDA margin of over 21%.

Sales also increased in the Power & Energy segment, rising 9% to EUR 37.7 million, thanks in particular to the excellent performance of stationary energy storage systems. As well as significant sales growth, the focus here for 2018 is on increasing profits.

Immediately after the initial listing on the Frankfurt Stock Exchange on October 19, 2017, VARTA AG began a comprehensive investment program in Germany as well as at its foreign subsidiaries. Besides the expansion of production capacity to meet the high market demand, this year saw the enlargement of the Management Board with the appointment of Steffen Munz as Chief Financial Officer (CFO) on February 1.

"We are well placed to achieve a further significant increase in sales in 2018. The same applies to our result, which is set to once again be far better than in the previous year thanks to the scaling of our business model," says Munz.

 

Selected financial figures

(in k EUR) audited to IFRS 2017 2016       Net sales 242,157 213,815 of which "Microbatteries" 203,578 177,351 of which "Power & Energy" 37,663 34,622 Operating profit or loss (EBIT) 23,643 14,845 in % of net sales 9.8% 6.9% Depreciation and amortization 9,446 8,922 EBITDA 33,089 23,767 in % of net sales 13.7% 11.1% Adjustments     Costs for IPO 6,115 2,332 Reimbursement claims from pensions -3,629 0 Expenditure from share-based compensation 3,557 0 Adjusted EBITDA 39,132 26,099 in % of net sales 16.2% 12.2% of which "Microbatteries" 43,703 33,703 of which "Power & Energy" -4,367 -3,863 Earnings before taxes (EBT) 21,025 12,073 in % of net sales 8.7% 5.6% Consolidated result 13,544 9,410  

 

 

(in k EUR) audited to IFRS 2017 2016 Cash flows from operating activities 18,503 24,153 Cash flows from investing activities -13,426 -21,613 Cash flows from financing activities 121,577 -1,210       Employees (FTE) as of Dec. 31 2,112 2,012       Earnings per Share (EPS) in EUR 0.36 0.59  

(in k EUR) audited to IFRS 2017 2016 Balance sheet figures     Balance sheet total 331,480 164,928 Non-current assets 105,258 81,640 Current assets 226,222 83,288 of which liquid funds 138,536 12,347 Shareholder's equity 230,452 65,291 in % of balance sheet total 69.5% 39.6% of which issued share capital 38,200 29,600 Non-current liabilities 29,423 44,585 Current liabilities 71,605 55,052       Financial liabilities, net -130,135 12,540 Trade working capital 41,394 36,205  

 

Investor Relations contact: Dr. Michael Pistauer Management Board member - Investor Relations Daimlerstrasse 1 73479 Ellwangen

About VARTA AG VARTA AG as the group's parent company operates via its subsidiaries VARTA Microbattery GmbH and VARTA Storage GmbH in the business segments microbatteries and power & energy. Already today, VARTA Microbattery GmbH is innovation leader in the area of microbatteries, one of the market leaders for hearing aids batteries and strives to also become market leader for lithium-ion batteries in the area of wearables and in particular hearables. VARTA Storage GmbH is focused on intelligent energy solutions for customized battery storage systems for OEMs as well as on design, system integration and mounting of stationary lithium-ion energy storage systems. With its five production and manufacturing facilities in Europe and Asia as well as sales offices in Asia, Europe and the USA, the operating subsidiaries of VARTA AG group are currently active in more the 75 countries worldwide.

10.04.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: VARTA AG Daimlerstraße 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   End of News DGAP News Service

672689  10.04.2018 

@ dgap.de

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