Swabian battery manufacturer Varta is deep in crisis. The restructuring agreed with the banks and majority shareholder Michael Tojner just over a year ago is not enough.
The company experienced years of success, primarily through lithium-ion batteries for hearing aids and AirPods. When Apple used Samsung SDI as the second battery manufacturer for AirPod in 2022, Varta crashed. The Bonn-based Bonnbased Auxiln-Partner is now supposed to write a new report, which should be completed by the middle of the year. It is not yet possible to say how the plans would have to be adjusted, says Varta's chief financial officer, Hans-Joachim Schulte.. The battery company Varta has 250 million euros in fresh debt in a bank loan and another 235 million euros via promissory notes. Varta hired the investment bank Rothschild to “develop strategic options regarding potential recapitalization measures and financing measures,” the company says.