Raw material, energy problems weaken German battery producer Varta

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Business at the German battery company Varta deteriorated in the first half of the year. Both sales and earnings before interest, tax, depreciation and amortization (EBITDA) declined, the company announced in the southern German town of Ellwangen on Saturday. The executive board lowered its forecast for the current year. Varta cited delays in customer projects, the tense situation with raw material and energy prices, and high transport costs as the main reasons for the declines. According to preliminary figures released on Saturday, the battery manufacturer’s first-half sales fell 5.2% year-on…

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