Reported over 1 year ago
German battery maker Varta AG announced a reduction in its 2024 revenue forecast to a range of 820-870 million euros, down from the previous expectation of at least 900 million euros, citing declining demand in the energy storage market. This adjustment comes after the firm faced challenges, including production delays from a cyber attack earlier in the year and reduced orders from a key client, Apple, for its AirPods headphones. Varta's restructuring plan with majority shareholder Michael Tojner may also be impacted by these developments.
Source: YAHOO