The prospects for the German battery manufacturer Varta are increasingly gloomy. The company admitted that its current restructuring concept is no longer sufficient to achieve a profitable growth path by the end of 2026. The tense situation prompted Varta to announce a revision of the concept. The main reasons for this drastic assessment were the further deterioration of economic conditions in various business segments, a significant decline in demand for energy storage solutions, aggressive pricing policies of competitors, and ongoing problems in the supply chains.

The recent cyberattack, which led to a multi-week production stop and further deteriorated the financial situation of the company, weighs particularly heavily. The full effects of this incident on the operational and financial situation are not yet foreseeable and forced Varta to postpone the publication of the consolidated financial statements for the year 2023.

The stock exchange responded promptly and with concern to this news: The Varta stock dropped by three percent on the Tradegate trading platform following the announcement. This decline reflects the growing concerns of investors who are now waiting for concrete actions and a clear strategy from the company to meet current challenges and restore confidence in the market.