Varta AG : Next profit warning implies 30% downside to consensus (& was implied by our estimates after muted CEO RS), prelim. Q2 2023 adj. EBITDA still negative
>Revised FY 2023 adj. EBITDA outlook of € 40m to € 60m leaves 30% downside to consensus at mid-point - Varta revised this morning its FY 2023 outlook for the 'second time', now guiding for sales at the lower end of the previous guidance of ~€ 820m (was € 820-870m, ODDO BHFe: € 815m) and an adj. EBITDA of € 40-60m (was ‘at least € 70m’, ODDO BHFe € 60m), leaving 30% downside to consensus estimate of € 71m (FactSet) at new guidance mid-point. New CFO is already bullish ...Varta is a holding company. Through its subsidiaries, Co. is engaged in the manufacturing and sale of industrial batteries, starter batteries and consumer batteries for types of electrical energy requirements, including passenger cars, commercial vehicles, motor cycles, tractors, construction and agricultural machinery, boats, air crafts, portable radio & television sets, and other applications. Co. also produces Varta-Plastic which includes casings for mobile telephones, boot linings, center consoles, glove compartments, shelves and housings for personal computers, printers, keyboards and typewriters. Other sectors include; chemical products, and machinery and plant business.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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