• Group revenue grows in Q1 2020 by 170.3% to € 198.5m (+68.2% excluding acquisition of VARTA Consumer)
• Adjusted EBITDA increases by 197.0% in the first three months of 2020 to € 51.7m (+135.0% excluding acquisition of VARTA Consumer)
• Adjusted EBITDA margin improves by 2.3 PP to 26.0%.
• Acquisition of VARTA Consumer Batteries business from Energizer concluded successfully on January 2 and taken into account in the consolidated financial statements for the first time
• “Microbatteries & Solutions” segment with very strong quarterly results
• “Household Batteries” segment makes a good start to Q1
• Outlook for fiscal year 2020 confirmed:
Group revenue of € 780m–800m expected;
Adjusted Group EBITDA set to come in at € 175m¬–185m;
Planned CAPEX of € 300–330m
Organic revenue and EBITDA growth accelerated further
VARTA AG is today publishing its figures for the first quarter of 2020 – including the consolidated figures of the acquired European VARTA Consumer Batteries business (VARTA Consumer) for the first time following its acquisition. The Group has made a positive start to the new fiscal year, building upon the substantial organic growth in revenue and income achieved in the past. Group revenue grew by 170.3% in the first quarter to € 198.5m. Organic revenue growth, excluding the first-time consolidation of VARTA Consumer, amounted to 68.2%. Adjusted EBITDA increased by 197.0% to € 51.7m. Excluding VARTA Consumer, adjusted EBITDA rose by 135.0%. The adjusted EBITDA margin improved by 2.3PP to 26.0%, while Group profit rose by 265% to € 24.5m.
Herbert Schein, CEO of VARTA AG, explains: “Together with VARTA Consumer, we have made a very positive start to the new fiscal year and have again accelerated our high growth momentum. The pleasing result is primarily attributable to sustained strong demand for our lithium-ion cells, while we significantly increased sales by rapidly expanding production capacities. Our business model is also
