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Investor Presentaiton

Trade Working Capital TWC ratio with 17% stable Trade Working Capital in mEUR and in % of Net Sales +5,2 24% +14% 41,4 38,5 17% 36,2 28,5 22,8 17% 17% 12% 2013 2014 2015 2016 2017 āœ” VARTA Highlights TWC ratio stable at level of 2016 TWC impacted by developement of invetories Inventories rose to 55,8 Mio. EUR to enable deliverability in early 2018 following strong market demand VARTA Microbattery VARTA Storage " Our Brands M VARTA power one 11
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