A spirit of optimism at the battery manufacturer Varta: The green tech and energy storage specialist from Baden-Württemberg wants to start growing again in 2024 after a rather sluggish business of late.
Varta is active in the field of energy storage and has developed solutions for various applications. These energy storage devices can be used in households, companies or industrial plants,
The proceeds in 2024 are expected to increase to at least 900 million euros, especially for battery storage, as the company announced in Ellwangen.
For this year, Varta has only planned an increase of 1.6 percent compared to the previous year with around 820 million, mainly because the demand for small rechargeable lithium-ion button batteries is weak.
Greentech Varta Energie Speicher Baden Wuerttemberg BW. Green Media Network’s photo
Greentech Baden-Württemberg continues to grow
In the first half of the year, Varta was in the red, with a net loss of 110.4 million euros. A year ago, the company had reported a small profit of 2.8 million euros. Varta had already presented key data in July and lowered the forecasts for 2023 again. Sales fell in the first six months by ten percent to 339 million euros. Adjusted for special effects, earnings before interest, taxes, depreciation and amortization were minus 6.8 million euros – a year earlier it had been an operating profit of 68.9 million euros.
Greentech Varta: Better integration of renewable energies into the power grid
Varta is active in the field of energy storage and has developed solutions for various applications. These energy storage systems can be used in households, companies or industrial plants to store excess energy from renewable sources such as solar systems and release it again when required.
Varta’s energy storage solutions can help improve the integration of renewable energy into the power grid by storing excess energy when it’s available and then releasing it when demand is higher or the renewable energy sources are not active.
The VARTA management is also very optimistic: Markus Hackstein, Spokesman for the Management Board of VARTA AG, says: “Challenging times are behind us and we still have a lot of work ahead of us. But we can see that our decisive action and the measures in our restructuring program are having an effect. Our customers continue to trust the strong VARTA brand. We have new projects in the works that convince us that we can get back on the road to success in the coming year.”