Varta AG : Strong Q3 confirmed (fuelled by 'others' line), CoinPower volumes recovered gradually (still negative adj. EBITDA), FY 23 outlook confirmed (limited upside)
>Q3 2023 adj. EBITDA turned positive again, primarily driven by recovery in Consumer Batteries & CoinPower - Varta released final Q3 2023 results, with Q3 adj. EBITDA turning positive again to € 29m, which is almost in line with our estimate of € 28m, but 35% ahead of (company collected-) consensus estimate of € 22m. The beat was partially attributable to the 'others'-line (Q3 2023: € 7m vs cons € 4m) as Varta had ramp-up costs for Porsche in Q2 2023, which were reimb...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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