Varta

#5090

Rank

$812.06M

MarketCap DE

DE Germany

Country

Summary
Varta AG, through its subsidiaries, researches, develops, produces, and sells microbatteries, household batteries, and energy storage solutions worldwide. It operates in two segments, Lithium-Ion Solutions & Microbatteries and Household Batteries. The Lithium-Ion Solutions & Microbatteries segment offers zinc-air batteries primarily for use in hearing aid devices; lithium-ion battery solutions for wireless headphones; wearables, which include medical devices to measure hypertension, blood sugar, and other bodily functions, as well as the power supply for COVID19 antibody tests; and rechargeable battery solutions for industrial and original equipment manufacturers for use in various applications, such as servers, car keys, alarm systems, or smart meters. This segment is also involved in the development, system integration, and assembly of lithium-ion battery packs for portable industrial, communication devices, electric power tool, home, garden, and medical applications. The Household Batteries segment offers household batteries, rechargeable batteries, chargers, power banks, lights, and energy storage systems. The company was founded in 1887 and is headquartered in Ellwangen, Germany. Varta AG is a subsidiary of Montana Tech Components AG.

History

VARTA was founded by Adolf Müller in 1887, and established in 1904 as a subsidiary of Accumulatoren-Fabrik AFA. After World War I, VARTA together with AFA was acquired by German industrialist Günther Quandt and Industrialist and VARTA CEO Dr. Carl Hermann Roderbourg. After World War II, most of the VARTA shares passed from Günther Quandt to his son, Herbert Quandt. The subsidiary in East Berlin was later occupied by the Soviet Union, and was named BAE Batterien.

In 1977, VARTA AG's businesses were split up by Herbert Quandt; battery and plastics operations were retained in VARTA AG, but the pharmaceuticals and specialty chemical businesses were transferred to a new company called Altana, and the electrical business was spun off into a company called CEAG. Herbert Quandt left the company's shares to his children.

In 2002, the consumer battery activities were sold to Rayovac. The automotive battery business was acquired by Johnson Controls. The button cell and home energy storage businesses were acquired by Montana Tech Components.

By 2006, VARTA AG had sold all its operating divisions, and the Quandts had sold their shares. VARTA AG then liquidated its remaining assets, contracts, liabilities and shareholdings, in particular the manufacture and sale of VARTA batteries, while continuing its company businesses.

On 19 October 2017 shares of the VARTA AG started flotation on the stock market . With an emission price of 17,50 Euro the company had a value of 668,5 Mio. Euro On 2 January 2019, American company Energizer Holdings, Inc. took control over VARTA's consumer battery segment. On 29 May 2019, VARTA AG signed an agreement to acquire the VARTA Consumer Batteries business for the Europe, Middle East and Africa regions from Energizer Holdings, which was completed on 2 January 2020.


Mission
Varta’s mission is to be a reliable and innovative partner for energy solutions that help make life easier, better, and safer.

Vision
Varta's vision is to become the global leader in energy solutions by 2020.

Key Team

Mr. Herbert Schein (Member of Exec. Board)

Mr. Rainer Hald (CTO & Member of Management Board)

Mr. Bernhard Wolf (Head of Investor Relations)


Recognition and Awards
Varta has earned many awards and accolades, including an International CES® Innovations 2019 Design & Engineering Award, and their batteries have been named the “Official Battery of the Year” by Popular Mechanics magazine.

References
Varta
Leadership team

Dr. Michael Tojner (Owner & Chairman of Supervisory Board)

Dr. Markus Hackstein (Spokesman of the Exec. Board & CEO)

Mr. Armin Hessenberger (CFO & Member Of Management Board)

Products/ Services
Manufacturing
Number of Employees
1,000 - 20,000
Headquarters
Ellwangen, Baden-Wurttemberg, Germany
Established
1887
Net Income
100M - 500M
Revenue
500M - 1B
Traded as
VAR1.F
Mon Feb 26 2024
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