BayWa AG Releases Preliminary 2024 Half-Year Figures, Forecast Suspended

BayWa AG has announced preliminary business figures for the first half of 2024, revealing a significant drop in performance. The Group generated revenues of €10.7 billion, compared to €12.6 billion in H1 2023. Earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at €149.5 million, down from €322.1 million in the same period last year. Preliminary earnings before interest and tax (EBIT) were €61.3 million for Q2, following a negative EBIT of minus €61.3 million in Q1.

This decline necessitates impairment tests according to IAS 36, resulting in the postponement of the Half-Year Financial Statements from 8 August to 27 September 2024. Consequently, BayWa AG has suspended its previously forecasted EBIT range of €365 million to €385 million for the full year 2024. The Board of Management cannot provide a new forecast currently due to the ongoing restructuring report.

Despite these challenges, the company remains in constructive discussions with its financing partners. The Board of Management remains optimistic about achieving sustainable improvements in the financial situation through initiated measures.