on VARTA AG (isin : DE0005001002)
VARTA AG Revises Revenue Forecast for 2024 Amid Energy Storage Market Slowdown
VARTA AG has adjusted its revenue forecast for fiscal year 2024 due to a continued slowdown in the energy storage market. The company now projects revenues between €820 million and €870 million, down from the previously anticipated minimum of €900 million.
The adjustment follows a significant deterioration in the market conditions for energy storage systems, especially in the AC segment. VARTA, which specializes in this area, noted a decline in market share within the domestic market.
Additionally, delays in the product launch of the VARTA.wall, a high-voltage DC-coupled storage system, have negatively impacted the company's revenue outlook. This product is crucial for entering the larger DC storage systems market segment.
R. E.
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