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We provide you with comprehensive information on VARTA AG of relevance to the capital market on the following pages. 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 the basis of its right of designation pursuant to Article 9 paragraph 2 of the Articles of Association, the Alfried Krupp von Bohlen und Halbach Foundation has designated two out of the 10 Supervisory Board members representing the shareholders.Attendance of supervisory board members These amounted to € 102.5m as of March 31, 2020 (March 31, 2019: € 151.6m).Investments excluding M&A (CAPEX)VARTA Aktiengesellschaft, Ellwangen (Jagst)Tax expenses increased primarily because of the positive trend in the pre-tax result from € 3.8m in 2019 to € 9.9m in 2020. The new Varta Acoustic Special sets standards in technology and design. The business has not been significantly impaired by Covid-19. Replacement investment to renew production equipment, to develop new products and for quality assurance measures is also required at regular intervals.NET ASSETS AND FINANCIAL POSITIONTrade payables and advance payments receivedCash flow from ongoing business activitiesVARTA AG GROUP AS OF MARCH 31, 2020Expenses for M&A transactionsCost of Acquisition VARTA ConsumerExpenses and other operating incomeEffects of exchange rate fluctuationsIn the first three months of fiscal year 2020, revenue in the Microbatteries & Solutions segment increased from € 67.8m to € 118.7m. About the supervisory board. In addition, the Personnel Committee resolves in place of the full Supervisory Board on certain matters specified in the Rules of Procedure which can be passed to the Committee for resolution under the statutory provisions.
Due to the market and customer structure, the Asian market plays the most important role; many major manufacturers of wireless headsets produce their products in this region. Due to strong demand for lithium-ion batteries for wireless headsets, the company plans to carry out a huge production capacity expansion in the Entertainment & Industrial area; this will constitute the largest growth potential in the Microbatteries & Solutions segment. VARTA AG decides to convert the share capital into euro and to divide the shares with a par value of DM 50 into no par value shares at a rate of ten-for-one. Analysts Recommendations. The committees prepare the resolutions of the Supervisory Board as well as the issues to be dealt with at the full-session meetings. Share price Read more.
The Group is currently benefiting from its very resilient business with primary hearing aid batteries, from additional revenue from new business with a leading US retail chain initiated in the prior fiscal year, and strong demand for rechargeable hearing aid batteries. The Supervisory Board presents a report to the shareholders in connection with the annual financial statements.
AG approves the new structure of the Varta Group. Sourcing.