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MarketScreener Homepage  >  Equities  >  Xetra  >  Varta AG    VAR1   DE000A0TGJ55

VARTA AG

(VAR1)
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VARTA : signs supply contract with Samsung and settles dispute over patent infringements with headset manufacturer

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08/03/2020 | 04:33am EDT

VARTA AG is expanding its cooperation with Samsung Electronics. The company, based in Ellwangen, will remain the main supplier of rechargeable batteries for Samsung headsets in the coming years. With the supply contract, the MDAX company settled its patent disputes with Samsung.

'We are pleased that we can further intensify our business relationship with Samsung,' VARTA CEO Herbert Schein said. 'This strengthens our already leading position as a manufacturer of innovative and powerful batteries for premium wearables.'

VARTA has already withdrawn all lawsuits against Samsung and its customers. Batteries were found in the headsets that VARTA AG believes violate patents in the field of lithium-ion cells. VARTA had acted against Samsung and its customers in Germany and the USA. The agreement stipulates that VARTA AG will withdraw its lawsuits. In return, Samsung, for its part, waives lawsuits against the battery manufacturer. 'I am very happy that we have found this solution jointly and can now look forward to a stronger future together ,' says Schein.

Agreements with other wearable manufacturers will be reached shortly, talks are already underway.

About VARTA AG
VARTA AG produces and markets a comprehensive battery portfolio, ranging from microbatteries, household batteries, energy storage systems to customer-specific battery solutions for a wide range of applications, and, as a technology leader, sets industry standards in key areas. As the parent company of the Group, it operates in the business segments 'Microbatteries & Solutions' and 'Household Batteries'.
The 'Microbatteries & Solutions' segment focuses on the OEM business for microbatteries as well as on the lithium-ion battery pack business. Through intensive research and development, VARTA sets global standards in the microbattery sector and is a recognized innovation leader in the important growth markets of lithium-ion technology and primary hearing aid batteries. The 'Household Batteries' segment comprises the battery business for end customers, including household batteries, rechargeable batteries, chargers, portable power (power banks) and lights as well as energy storage devices. The VARTA AG Group currently employs almost 4,000 people. With five production and manufacturing facilities in Europe and Asia, and distribution centers

Disclaimer

VARTA AG published this content on 03 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2020 07:33:22 UTC


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Financials
Sales 2020 852 M 993 M 993 M
Net income 2020 99,1 M 115 M 115 M
Net Debt 2020 135 M 158 M 158 M
P/E ratio 2020 44,4x
Yield 2020 0,12%
Capitalization 4 349 M 5 069 M 5 065 M
EV / Sales 2020 5,26x
EV / Sales 2021 3,96x
Nbr of Employees 4 342
Free-Float 41,9%
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 6
Average target price 127,30 €
Last Close Price 107,60 €
Spread / Highest target 53,3%
Spread / Average Target 18,3%
Spread / Lowest Target -25,7%
EPS Revisions
Managers
NameTitle
Herbert Schein Chief Executive Officer
Michael Tojner Chairman-Supervisory Board
Steffen Munz Chief Financial Officer
Georg Blumauer Member-Supervisory Board
Frank-Dieter Maier Member-Supervisory Board
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