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Varta AG

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DeZwarteRidder 12 april 2024 16:54

Varta AG, through its subsidiaries, engages in the research, development, production, and sale of micro and household batteries, large-format batteries, battery solutions, and energy storage systems in Europe, Asia, North America, and internationally. It operates in five segments: Micro Batteries, Lithium-Ion CoinPower, Consumer Batteries, Energy Storage Systems, and Other. The Micro Batteries segments offers zinc-air batteries under the power one and ecopack brand names for use in microbatteries and hearing aid devices. The Lithium-Ion CoinPower segment provides lithium-ion battery solutions for wireless headphones for medical devices to measure hypertension, blood sugar, and other bodily functions, as well as the power supply for COVID19 antibody tests. The Consumer Batteries segment offers household batteries, rechargeable batteries, power banks, chargers, and lights. The Energy Storage Systems segment provides energy storage solutions for the home and mass storage markets. The Other segment offers lithium-ion large cells product for rechargeable battery solutions for industrial and original equipment manufacturers for applications, such as servers, applications in alarm systems, or smart meters; and produces rechargeable, standardized, and customized battery packs for industrial and wireless applications. This segment is also involved in the development, system integration, and assembly of lithium-ion battery packs for portable industrial, communication devices, electric power tool, home, garden, and medical applications. The company was founded in 1887 and is headquartered in Ellwangen, Germany. Varta AG is a subsidiary of Montana Tech Components AG.

DeZwarteRidder 12 april 2024 16:57

Koersval Varta met ca 32% naar ca 9,50:
=================================

Investing.com -- A price drop that makes shareholders sit up and take notice - shares of battery company Varta (ETR:VAR1) are experiencing a turbulent day at the Frankfurt Stock Exchange. A skeptical comment on the achievability of the annual targets has unsettled investors and further strengthened the already dynamic downward trend. The result: a new low. With a loss of over 9%, the shares last traded at €17.07.

In a recent study, analyst Philipp König of Goldman Sachs recommended selling Varta shares and lowered the price target to €15, which corresponds to a halving, as reported by dpa-AFX. König sees risks to the company's revenue and earnings targets, as these assume a significant recovery in CoinPower's sales volumes. However, these are dependent on customer decisions that are still unclear, he stressed. In the profitable lithium-ion button cell business, Varta lost market shares last year. The expert also sees hardly any positive developments in other business areas.

Varta shares have already lost almost 25% of their value in 2023. But it looks even worse looking back at the peak in early 2021: with a loss in value of a considerable 90%, shares are now in a veritable nosedive.

Investors and shareholders of Varta certainly hoped for more than experiencing such a drastic downward movement. The loss of value in 2023 is a further signal of the ongoing challenges facing the German battery company.

The former high of over €181 is now just a distant memory. The decline in Varta shares has hit many investors hard.

The average price target of 7 analysts covered by InvestingPro is currently €23.93. The fair value determined by InvestingPro (€20.72), which is made up of 15 financial models, currently results in an earnings potential of 21.5%.

(Translated from German)

DeZwarteRidder 12 april 2024 17:24

Varta Shares Tumble After Market Challenges Increase, Restructuring Plan Deemed Unfit
Published: April 12, 2024 at 4:29 a.m. ET
comments

By Pierre Bertrand

Varta shares dropped on Friday after the battery manufacturer said its markets continued to deteriorate, with demand for some of its products declining more than expected, leading the company to re-evaluate a previously agreed restructuring plan.

At 0822 GMT, shares traded 27% down to EUR10.28.

Varta said its business was hit with further economic deterioration and volatile forecast purchase volumes by customers. It added that demand for energy storage solutions declined unexpectedly and significantly, while it faced supply-chain problems and competitors' aggressive pricing.

In addition, a cyberattack, which hit the company in February, affected the company's production and financial position, Varta said.

Therefore, the previously agreed restructuring measures, which were to be implemented by the end of 2026, and corporate strategy are no longer appropriate and wouldn't lead to a return to profitable growth, it said.

Varta added it is yet too early to comment on possible adjustments or further restructuring and financing measures, but that it assumes that an updated plan would be available by mid-2024.

Varta embarked on a restructuring effort in March last year as it sought to overcome a slump in profits in 2022.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

a.voordedorst 12 april 2024 20:03

Waarom kan een van oudsher gerenommeerde duitse accu/batterij fabrikant al jaren de boot missen, terwijl er volop kansen zijn/waren in deze industrie. Nogmaals onbegrijpelijk.

Han 2 18 april 2024 22:19

Mismanagement en gebrek aan Governance, de batterijen liggen wel in alle Duitse winkels te koop. Maar de Chinese meuk is goedkoper.

DeZwarteRidder 5 juli 2024 12:58

Varta sprint omhoog met ca 25%.

DeZwarteRidder 5 juli 2024 13:00

Duitse accufabrikant Varta wil investering van Porsche in accu-unit
05 juli 2024 om 00:05 uur

De Duitse batterijfabrikant Varta heeft donderdag gezegd dat het in gesprek is met Porsche over een mogelijke investering in zijn grootformaat lithium-ion-accubedrijf V4Drive.

De bedrijven hebben een niet-bindende term sheet getekend en werken aan de afronding van de details, aldus Varta, zonder financiële factoren bekend te maken.

Bij de deal, die afhankelijk is van een succesvol due diligence-onderzoek en goedkeuring door de aandeelhouders, zouden de V4Drive-activiteiten van Varta worden overgedragen aan een dochteronderneming, waarbij Porsche via een kapitaalverhoging zou participeren.

De potentiële investering komt nadat Varta vorige maand zijn omzetprognose voor het hele jaar 2024 had verlaagd vanwege de afnemende vraag op de markt voor energieopslag.

In april zei de noodlijdende batterijfabrikant dat het mogelijk de doelstellingen van zijn herstructureringsplan niet zou halen en dat het bedrijf herkapitalisatieopties aan het onderzoeken was. Volgens het plan verwachtte Varta tegen eind 2026 terug te keren naar "winstgevende groei". (Verslaggeving door Surbhi Misra in Bengaluru; redactie door Diane Craft)

Delen

DeZwarteRidder 24 juli 2024 17:15

Varta's Porsche-led rescue would leave investors empty-handed
By Alexander Hübner and Ludwig Burger
July 22, 202411:59 AM GMT+2Updated 2 days ago

Shares plunge as much as 80%
Turnaround plans foresee equity wipe-out
CEO says Varta needs double digit mln eur sum in fresh fundingCEO Ostermann says significant debt relief also a must

MUNICH, July 22 (Reuters) - Varta (VAR1.DE)
, opens new tab stock plunged as much as 80% to a record low on Monday after the German battery maker said restructuring options to avert insolvency, potentially with the help of Porsche (P911_p.DE)
, opens new tab, would leave shareholders with nothing.
The stock was down by two thirds at 0850 GMT on Monday, following a statement on Sunday that two remaining turnaround proposals would result in a delisting, with shareholders - except Austrian majority owner Michael Tojner - receiving no compensation.
Varta needs significant relief on its debt of close to 500 million euros ($544 million) plus fresh funding worth a "high double-digit" million euro amount, CEO Michael Ostermann, who joined in May, told Reuters.
"I came on board to rescue Varta. This is something close to my heart," Ostermann said.
Potential new investors, including Tojner and sportscar maker Porsche (P911_p.DE)
, opens new tab, would inject capital under one of the scenarios, the company added in its statement.
Varta has suffered from bad investment bets in its traditional field of small batteries for consumer electronics but an expensive foray into V4Drive-branded batteries for hybrid sportscars that did not catch on has accelerated the group's decline.
Varta said it would notify the relevant courts of an overhaul in accordance with Germany's corporate stabilisation and restructuring act.
Varta, which had a market value of 440 million euros ($479 million) before Monday's nosedive, said earlier this month it was in talks with Porsche over a potential investment that could result in the carmaker becoming a majority owner of Varta's V4Drive business.
Porsche confirmed on Sunday that it had been in talks to take a majority stake in V4Drive to preserve a key German-made technology but financial support for the entire Varta group was now also on the cards under certain conditions.
Varta said in April it might not meet targets set under its restructuring plan and was exploring recapitalisation options that should help it return to "profitable growth" by the end of 2026.
Varta said it hoped to quickly decide on one of the two scenarios.
It said it was unlikely that either proposal would garner the necessary majority at a general meeting of shareholders, adding the proposed restructuring, if accepted by courts, would allow it to realise this without investor approval.

High Finance 18 augustus 2024 11:27

Machtsgreep Porsche wist aandeelhouder uit bij noodlijdende Duitse batterijmaker Varta

www.tijd.be/ondernemen/auto/machtsgre...

DeZwarteRidder 18 augustus 2024 11:43

Succesaandeel

Varta uit Ellwangen in de zuidelijke deelstaat Baden-Württemberg was ooit het succesaandeel van de Duitse beurs. Begin 2021, bij de piek van de hype rond de mini-batterij voor smartphone-oortjes, waardeerden beleggers Varta tegen een koers van 180 euro op 7,3 miljard euro. Het aandeel halveerde sinds januari bijna in waarde tot 3,87 euro bij de bel afgelopen vrijdag. Nu is dat dus zero.

Bye 18 augustus 2024 13:09

quote:
DeZwarteRidder schreef op 18 augustus 2024 11:43:
Succesaandeel

Varta uit Ellwangen in de zuidelijke deelstaat Baden-Württemberg was ooit het succesaandeel van de Duitse beurs. Begin 2021, bij de piek van de hype rond de mini-batterij voor smartphone-oortjes, waardeerden beleggers Varta tegen een koers van 180 euro op 7,3 miljard euro. Het aandeel halveerde sinds januari bijna in waarde tot 3,87 euro bij de bel afgelopen vrijdag. Nu is dat dus zero.

Als de nood aan de man komt is Porsche snel nabij.
Gaat Varta overleven??

DeZwarteRidder 18 augustus 2024 14:02

quote:
Marcel H. schreef op 18 augustus 2024 13:09:
[...]

Als de nood aan de man komt is Porsche snel nabij.
Gaat Varta overleven??

Varta gaat heus wel overleven, maar de kleine aandeelhouders zijn al hun geld kwijt.

DeZwarteRidder 19 augustus 2024 10:28

Vreemd genoeg wordt er nog steeds geld betaald voor aandelen Varta; men gelooft gewoon niet dat ze waardeloos zijn.

Hetzelfde gebeurde bij Wirecard.

Bye 19 augustus 2024 11:31

quote:
DeZwarteRidder schreef op 19 augustus 2024 10:28:
Vreemd genoeg wordt er nog steeds geld betaald voor aandelen Varta; men gelooft gewoon niet dat ze waardeloos zijn.

Hetzelfde gebeurde bij Wirecard.

Koop en verkoop gebeurt ook nog steeds bij Ebusco.
Pennystock. Het bedrijf gaat failliet of wordt overgenomen
op de manier zoals bij Varta AG.
De aandeelhouders vissen achter het net.

High Finance 19 augustus 2024 23:29

quote:
DeZwarteRidder schreef op 19 augustus 2024 10:28:
Vreemd genoeg wordt er nog steeds geld betaald voor aandelen Varta; men gelooft gewoon niet dat ze waardeloos zijn.

Hetzelfde gebeurde bij Wirecard.

Ongelooflijk hé. Vanmiddag gewoon nog even een dikke 2,60 op de borden wat vertaald naar €100mln mkt cap, na vanmorgen nog rond de €0.80 te openen.
Óf men snapt het niet of short bouwt simpelweg alvast af.

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