VARTA AG: VARTA AG adjusts revenue forecast for 2024 due to further slowdown
in the energy storage market

EQS-Ad-hoc: VARTA AG / Key word(s): Change in Forecast
VARTA AG: VARTA AG adjusts revenue forecast for 2024 due to further slowdown
in the energy storage market

20-Jun-2024 / 20:20 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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VARTA AG, Ellwangen, ISIN: DE000A0TGJ55

Release of inside information pursuant to Article 17 of Regulation (EU) No
596/2014

VARTA AG adjusts revenue forecast for 2024 due to further slowdown in the
energy storage market

Ellwangen, June 20, 2024

Based on current business developments in the first half of 2024, VARTA AG
is revising its revenue forecast for fiscal year 2024 issued on August 11,
2023. The Ellwangen-based technology company now expects revenue between EUR
820 million and EUR 870 million (previous forecast: at least EUR 900 million).

The reason for the adjustment is a further significant deterioration in the
market environment for energy storage systems, especially in the second
quarter of the current year. In addition to a noticeable decline in overall
market demand, the market segment for AC (alternating current) energy
storage systems in particular, which VARTA serves with its existing product
line, is currently losing market share in the domestic market. Delays in
connection with the product launch of the DC (direct current)-coupled
high-voltage storage system VARTA.wall, with which VARTA plans to enter the
largest market segment of the energy storage market in terms of volume (DC
storage systems), are also having a negative impact on revenue development
in 2024 and contribute to the wide forecast range.
* * *


End of Inside Information

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   Language:       English
   Company:        VARTA AG
                   VARTA-Platz 1
                   73479 Ellwangen
                   Germany
   Phone:          +49 (0)791-921-0
   E-mail:         info@varta-ag.com
   Internet:       www.varta-ag.com
   ISIN:           DE000A0TGJ55
   WKN:            A0TGJ5
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1930101

End of Announcement EQS News Service
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1930101 20-Jun-2024 CET/CEST