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PRESS RELEASE: VARTA AG: Q3-Statement / Q3 Financial Report 2017

22 Nov 2017 6:40 am

Dow Jones received a payment from EQS/DGAP to publish this press release.
 
 
 DGAP-News: VARTA AG / Key word(s): Quarterly / Interim Statement 
VARTA AG: Q3-Statement / Q3 Financial Report 2017 (news with additional 
features) 
 
2017-11-22 / 07:40 
The issuer is solely responsible for the content of this announcement. 
 
*Quarterly Report* 
 
Ellwangen, November 22, 2017 
 
*VARTA AG releases report for the first nine months 2017* 
 
*- *Long-established Ellwangen-based company looks back on the most 
successful nine months of its recent history 
 
- Sales of EUR 180.2 million is 12.1% above the previous year 
 
- Revenue figures EBITDA of 91.1% and EBIT of 104.1% have clearly improved 
compared to the same period of the previous year 
 
- Sales increase in all segments 
 
- Successful implementation of investment activities for expansion of 
lithium-ion production capacity 
 
VARTA AG, a global expert for microbatteries and market leader for hearing 
aids batteries as well as for solutions for hearables, power packs and 
energy storage, today releases its quarterly report for the first nine 
months 2017. A very good start in the first half of 2017 could be 
successfully continued in the third quarter 2017. 
 
Herbert Schein, CEO VARTA AG: "There is still a high demand in our products, 
in particular in small lithium-ion batteries. With a sales increase of more 
than 12% compared to the same period of the previous year, we were able to 
generate total sales of EUR 180.2 million. This positive development is due 
to the consistent continuation of our company strategy. We benefit from the 
trends towards cordless power solutions in the areas of entertainment, 
health care as well as battery packs and energy storage," emphasizes the CEO 
of the company, that can look back on 130 years of tradition. 
 
CFO Dr. Michael Pistauer comments on the Q3 results: "After a successful 
initial public offering, we see ourselves to be well on track. The high 
demand has brought us a positive result, as expected - and this success 
continues. Due to continuous optimization of innovations as well as product 
efficiency, we are able to present this encouraging result. We were also 
able to significantly increase the EBIT margin by 6.6 percent points to 
14.7% year-on-year. The EBIT of the first nine months with EUR 26.5 million 
is already 78.6% higher compared to the EBIT of the entire year 2016 (EUR 
14.8 million)." 
 
The very good start at the Frankfurt Stock Exchange provides the company 
with the possibility to expand further growth in particular in the area of 
microbatteries. The major investments of the first nine months were used for 
the expansion of the lithium-ion production capacity. 
Immediately after the first listing on October 19, 2017, VARTA AG started 
with a comprehensive investment program in Germany as well as in its foreign 
subsidiaries. 
 
*Selected financial key figures* 
 
                        *Jan. 01 to *Jan. 01   *Changes *Changes 
                         Sept. 30,     to     in k EUR*    in %* 
(in k EUR) according to    2017*    Sept. 30, 
IFRS, not verified                    2016* 
 
*Net sales*               *180,172* *160,753*  *19,419*  *12.1%* 
_thereof 
"Microbatteries"_         _151,363_ _133,478_ 
_thereof "Power and 
Energy"_                   _28,241_  _25,933_ 
*Operating profit or                           *13,524* *104.1%* 
loss (EBIT)*               *26,510*  *12,986* 
in % of net sales             14.7%      8.1% 
Depreciation and                                    384     5.8% 
amortization                  6,955     6,571 
*EBITDA*                   *33,465*  *19,557*  *13,908*  *71.1%* 
in % of net sales             18.6%     12.2% 
_Adjustments_ 
_Expenditures for going 
public and IPO_               _777_   _1,519_ 
_Assumption of debt 
pensions_                  _-3,629_       _0_ 
*Adjusted EBITDA*          *30,613*  *21,076*   *9,537*  *45.3%* 
in % of net sales             17.0%     13.1% 
*Earnings before taxes                         *12,529* *116.4%* 
(EBT)*                     *23,292*  *10,763* 
in % of net sales             12.9%      6.7% 
*Consolidated result*      *17,700*   *8,655*   *9,045* *104.5%* 
 
Cash flows from 
operating activities         12,263    -1,020 
Cash flows from 
investing activities        -12,236   -20,510 
Cash flows from 
financing activities         -2,771    18,979 
 
Employees (FTE) as of 
Sept. 30                      2,069     2,045 
 
Earnings per Share 
(EPS) in EUR                   0.55      0.52 
(in k EUR) according                           *Changes *Changes 
to IFRS, not          *Sept. 30,   *Dec. 31,  in k EUR*    in %* 
verified                2017*        2016* 
*Balance sheet 
figures* 
Balance sheet total       181,758     164,928    16,830    10.2% 
Non-current assets         90,794      81,640     9,154    11.2% 
Current assets             90,964      83,288     7,676     9.2% 
_thereof liquid                                _-3,219_ _-26.1%_ 
funds_                    _9,128_    _12,347_ 
Shareholder's equity       81,446      65,291    16,155     9.4% 
in % of balance 
sheet total                 44.8%       39.6% 
_thereof issued                                     _0_      _0_ 
share capital_           _29,600_    _29,600_ 
Non-current                                      -2,938    -6.6% 
liabilities                41,647      44,585 
Current liabilities        58,665      55,052     3,613     6.6% 
 
Financial                                       -19,006   -59.5% 
liabilities, net           12,921      31,927 
Trade working                                    13,691    37.8% 
capital                    49,896      36,205 
 
Due to the very positive result for the third quarter 2017, VARTA AG 
therefore still expects for the full year 2017 a significantly improved 
result as compared to the previous year. 
 
Contact: 
Julia Weber 
Investor Relations 
Daimlerstrasse 1 
73479 Ellwangen 
julia.weber@varta-ag.com 
 
*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. 
 
Additional features: 
 
Document: http://n.eqs.com/c/fncls.ssp?u=FOIAOGXAWI [1] 
Document title: Quarterly Statement Q3 2017 
 
2017-11-22 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 
 
631655 2017-11-22 
 
 
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=da958a983e9c28202d3b7560f57fbac1&application_id=631655&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

November 22, 2017 01:40 ET (06:40 GMT)
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