Frankfurt The battery manufacturer Varta is withdrawing its profit forecast for the current financial year, which it last lowered in July. The reason for this is the further increase in costs for energy and raw materials, which can only be passed on to customers to a limited extent, the company from Ellwangen in Swabia announced on Friday.
In addition, two large orders were delayed. Therefore, “significant volumes” could no longer be delivered this year and the sales targets and the forecast result for the full year and in the third quarter could no longer be achieved.
The Varta share, which has been under pressure for months, lost more than 23 percent on Friday in the MDax to around 44.80 euros. Even before the announcement of the canceled forecast, the share was clearly in the red. Since the beginning of the year, it has lost more than half of its value.
Varta produces button cells for headphones and hearing aids, for example, as well as large lithium-ion batteries for storing energy in houses and apartments. The household battery business has been part of the company with 4,800 employees for three years now.
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