- VARTA AG Annual General Meeting resolves first ever dividend payment worth 2.48 per share

• Martin Ohneberg and Prof. Dr. Werner Tillmetz to replace Frank Dieter Maier and Dr. Georg Blumauer as members of the Supervisory Board.
• Shareholders approve all agenda items
• Annual General Meeting discharges both Executive Board and Supervisory Board by large majority

The Annual General Meeting of VARTA AG has resolved the first dividend payment in the Company’s history. 

The dividend will amount to around 100m which equates to 2.48 per share. Shareholders have therefore approved the proposal submitted by the Executive Board and Supervisory Boar d. Long standing Supervisory Board members Frank Dieter Maier and Dr. Georg Blumauer will be stepping down from their roles, with Martin Ohneberg (93.3%) and Prof. Dr. Werner Tillmetz (95.0%) accordingly elected as their successors The other members of th e Supervisory Board, namely DDr. Michael Tojner, Sven Quandt, Dr. Harald Sommerer and Dr. Michael Pistauer, were re-elected for the next term of office.

The Annual General Meeting expressed its confidence in the Executive Board and Supervisory Board for f iscal year 2020 with a large majority and approved all items on the agenda, including the resolution on the approval of the remuneration system for members of the Executive Board, with a share of the vote of at least 89,0%. Due to the coronavirus pandemic, the Annual General Meeting took place as a virtual event, as was the case last year too which shareholders were able to follow online. In the voting, around 26.1 million shares were represented, equating to a share of 64.7% of the share capital. 

Dividend payments are a new phenomenon for the Ellwangen based technology company. Further increased profitability and a low debt level have allowed VARTA AG to pay shareholders a dividend this year as well as, at the same time, making further large scale investm ents in the Company’s lithium ion business. In this respect, a new lithium ion battery factory is soon to be opened at the Nördlingen site, where in future the Company will have a total of 60,000 square meters of production space at its disposal. The pilo t production line for new, large format V4Drive rounded lithium ion cells is set to go into operation on schedule at the end of this year. These ultra high performance cells are the subject of huge customer interest in the areas of Home&Garden and Automotive in particular.

Detailed information on voting records related to individual agenda items at the Annual General Meeting has been published at: www.varta ag.com/hauptversammlung

About VARTA AG
VARTA AG produces and markets a comprehensive battery portfolio that ranges from microbatteries, household batteries and energy storage systems all the way to customer-specific battery solutions for a wide range of uses, setting the industry standards as technology leader in many important areas. As the parent company of the Group, it is active in the “Lithium-Ion Solutions & Microbatteries” and “Household Batteries” business segments.

The “Lithium-Ion Solutions & Microbatteries” segment focuses on the business with microbatteries, Lithium-Ion CoinPower batteries, Lithium-Ion Large Cells as well as Lithium-Ion battery packs. Through intensive research and development across several fields related to lithium-ion technology and microbatteries, VARTA sets global standards, and in this way is recognized as an innovation leader in the important growth markets of lithium-ion technology and primary hearing aid batteries. The “Household Batteries” segment covers the battery business for end customers, including household batteries, rechargeable batteries, chargers, portable power (power banks), lights and energy storage systems.

The VARTA AG Group currently employs just under 4,800 staff. VARTA AG’s operating subsidiaries are currently active in more than 75 countries around the world, with five production and assembly facilities in Europe and Asia as well as distribution centers in Asia, Europe and the USA.

MORE INFORMATION

Christian Kucznierz
Head of Corporate Communications

+49 79 61 921 2727

www.varta-ag.com

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