Preliminary business figures for the first half of 2024, suspension of forecast and postponement of the publication of half-year figures

BayWa AG publishes preliminary business figures for the first half of 2024 and suspends its earnings before interest and tax forecast for financial year 2024.

According to preliminary figures, the BayWa Group generated Group revenues of €10.7 billion in the first half of 2024 (H1 2023: €12.6 billion) and earnings before interest, tax, depreciation and amortisation (EBITDA) of €149.5 million (H1 2023: €322.1 million). Preliminary earnings before interest and tax (EBIT) in the second quarter totalled €61.3 million after negative earnings before interest and tax of minus €61.3 million in the first quarter. However, these earnings before interest and tax figures remain subject to the (IAS 36) impairment tests that have become necessary owing to the performance of the share price and have yet to be carried out.

As a result of the impairment reviews, the publication of the Half-Year Financial Statements 2024 has been postponed (previously scheduled for 8 August 2024). The full results for the first six months of the financial year will be published with the Half-Year Financial Statements on 27 September 2024.

The Board of Management has therefore decided today to withdraw the earnings before interest and tax forecast for financial year 2024 (target range between €365 million and €385 million). In view of the ongoing restructuring report, the Board of Management is unable to provide a sufficiently reliable, specific new forecast for earnings before interest and tax for financial year 2024 at this time.

The company remains in constructive talks with its financing partners. Based on these discussions and the measures initiated, the Board of Management continues to believe that the financial situation can be lastingly improved.