DGAP-Ad-hoc: VARTA AG / Key word(s): Change in Forecast
VARTA AG, Ellwangen, ISIN: DE000A0TGJ55
VARTA AG raises guidance for 2020
- VARTA AG raises the revenue for full year from 780-800 m EUR to 810-830 m EUR
- Guidance for adjusted EBITDA will be raised to 210-215 m EUR (previously 175-185 m EUR)
- Capital expenditures (CAPEX) rise due to expansion of production capacities to 320-360 m EUR
VARTA AG ("VARTA") raises the guidance for fiscal year 2020 due to the strong first half year and the continuous high order backlog.
For the planned expansion of production capacities from the previous 200 million cells per year to 300 million cells annually by the end of 2021, VARTA is raising its forecasted payments for capital expenditures (CAPEX) for 2020 from previously 300-330 m EUR to 320-360 m EUR.
The half year financial report will be published tomorrow.
About VARTA AG
VARTA AG produces and markets a comprehensive battery portfolio that ranges from microbatteries, household batteries and energy storage systems all the way to customer-specific battery solutions for a wide range of uses, setting the industry standards as technology leader in many important areas. As the parent company of the Group, it is active in the "Microbatteries & Solutions" and "Household Batteries" business segments.
13-Aug-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1117977|
|End of Announcement||DGAP News Service|
1117977 13-Aug-2020 CET/CEST