The headquarters of battery manufacturer Varta. (Sina Schuldt/dpa/archive)
Battery manufacturer Varta plans to invest more again this year. The company, which went public in October 2017 and was recently listed on the SDax, announced on Thursday in Ellwangen that between 65 and 75 million euros are planned for 2019. Varta already spent significantly more on investments last year. At a good 56 million euros in 2018, they had been around 3.5 times as high as in the previous year. The already known forecasts for sales and operating profit were confirmed by the company.
Varta had already presented its figures for the past year in mid-February and published its targets for 2019. In 2018, sales increased by 12.2 percent to 282 million euros. Varta earned a profit of 25.2 million euros, almost twice as much as in 2017. In the current year, the company expects further growth in sales and earnings.
Together with the Fraunhofer Institute, Varta is involved in a research project for a battery cell factory. The project is funded by the state of Baden-Württemberg. The project is intended to make the state of Baden-Württemberg the ideal location for a battery cell factory for electric cars. Varta is also a candidate for a possible consortium for the production of cells for electric cars in Germany.
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