Varta AG : Series of negative news continues, Q3 2022 adj. EBITDA turned negative, new € 30 target price
>Q3 2022 adj. EBITDA turned negative (1st time in history) on mix effects - Varta reported preliminary Q3 2022 adj. EBITDA of -€ 2.5m, falling short of the consensus forecast of € 26m (Q3 2021: € 70m). Revenues declined 14% y-o-y to € 194m in Q3 2022, in line with consensus forecast (€ 193m) and yielding an adj. EBITDA-margin of -1% vs. 31% In Q3 2021. Profitability deterioration can be explained by adverse mix effects (shift from high-margin Microbatteries to Consume...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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