10.04.2018
VARTA AG DE000A0TGJ55
DGAP-News: VARTA AG: Growth continues at VARTA AG with highly successful 2017
DGAP-News: VARTA AG / Key word(s): Final Results
VARTA AG: Growth continues at VARTA AG with highly successful 2017
10.04.2018 / 09:00
The issuer is solely responsible for the content of this announcement.
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Corporate News
Growth 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.
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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.
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Language: English
Company: VARTA AG
Daimlerstraße 1
73479 Ellwangen
Germany
Phone: +49 (0)791-921-0
E-mail: [email protected]
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
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