ELLWANGEN (dpa-AFX) - After recent weak business, the crisis-stricken battery manufacturer Varta is again planning for noticeable sales growth in the coming year. Thus, thanks to increasing demand, especially for battery storage devices, the company's 2024 revenue is expected to rise to at least 900 million euros, the company announced in Ellwangen. Analysts have so far averaged just under 920 million on the note. For this year, Varta has budgeted only a 1.6 percent increase over last year at around 820 million, mainly because demand for small rechargeable lithium-ion button batteries is weak.

In the first half of the year, Varta ran deep in the red, with a net loss of 110.4 million euros. A year ago, the company had reported a small profit of 2.8 million euros.

Varta had already presented key data in July, again lowering its forecasts for 2023. Sales fell by ten percent to 339 million euros in the first six months. Earnings before interest, taxes, depreciation and amortization, adjusted for special effects, were minus 6.8 million euros - a year earlier, the operating profit had been 68.9 million euros./men/jha/