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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.
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.

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End of Inside Information
20-Jun-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press
Releases.

Archive at www.eqs-news.com  
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

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END) Dow Jones Newswires

June 20, 2024 14:21 ET (18:21 GMT)