Varta short sellers have been counting on falling prices for several years – with varying degrees of success.
(Photo: dpa)
Dusseldorf The dispute between optimistic private investors and short sellers who are betting on falling prices is entering the next round with the Varta share. On Thursday, the battery maker’s stocks gave up gains of up to 6.5 percent on the day and turned down as much as 2.8 percent.
The trigger was the business figures for the past year: Varta increased sales by four percent to a good 900 million euros and the adjusted operating result (Ebitda) by 17.4 percent to around 283 million euros in the second Corona year, like the company announced on Thursday. However, CFO Armin Hessenberger remained cautious in his outlook: “The current global situation due to the ongoing consequences of Covid-19 and the Ukraine war are affecting raw material prices and the availability of components at our customers.”
The adjusted operating profit is therefore likely to fall somewhat – to 260 million to 280 million euros. Analysts had expected an average increase here.
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