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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
BayWa
BayWa (BYW) investor relations material
BayWa Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary26 May, 2026
Executive summary
Ongoing reorganisation since 2024, with a focus on core segments and significant portfolio adjustments, including the sale of several subsidiaries and a reduction in bank liabilities by €1.3 billion.
The sale of Cefetra Group B.V. in Q1 2026 reduced bank liabilities by over €600 million and marked a milestone in the transformation process.
The reorganisation concept is being revised due to deteriorated market conditions, especially in wind and solar projects, impacting expected proceeds from BayWa r.e. AG.
Liquidity remains secure and operating business is developing solidly despite ongoing transformation and market challenges.
Financial highlights
Q1 2026 revenues were €2.3 billion, down 35.3% year-over-year (Q1 2025: €3.6 billion); adjusted for divestitures, the decline is 18.2%.
Revenue decline attributed to weather, weak construction industry, and product range adjustments.
Outlook and guidance
Revised reorganisation concept underway, with a standstill agreement with banks until autumn 2026 to facilitate structured revision and approvals.
Publication of 2025 annual and consolidated financial statements delayed until reorganisation revision and audit completion.
Management expects the revised concept to provide a sustainable basis for the company.
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Latest events from BayWa
- 2023 losses and weaker EBIT prompt restructuring, debt reduction and a 2024 recovery push.BYW
H2 2023 - Revenue down 22.2% to €9.6bn; restructuring boosts profitability; 2025 outlook withdrawn.BYWQ3 2025
- Restructuring and asset sales drove a €527.8m loss, but EBITDA is forecast to rebound.BYWH1 2025
- Liquidity crisis triggered restructuring, €1.6bn loss, and major asset sales; outlook remains risky.BYWH2 2024
- Net loss of €290.5 million in H1 2024 due to heavy impairments and weak energy markets.BYWQ2 2024
- A €640.8 million net loss in Q1-3 2024 was driven by restructuring and market headwinds.BYWQ3 2024
- Q1 2025 revenues dropped 9.2% as BayWa accelerated restructuring and reduced debt.BYWQ1 2025
Next BayWa earnings date
H2 202522 Dec, 2026
BayWa
Next BayWa earnings date
H2 202522 Dec, 2026
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Frequently asked questions
BayWa Aktiengesellschaft is an international conglomerate with a focus on agriculture, building materials, and energy sectors. Founded in 1923, the company has grown from its roots in cooperative agricultural trade to become an essential provider of goods and services for basic needs such as food, housing, heat, electricity, and mobility. BayWa operates in over 40 countries, offering a wide range of products including grains, fruits, fertilizers, feedstuff, crop protection products, seeds, construction materials, building components, and various fuels. BayWa is headquartered in Munich, Germany, and its shares are listed on the ETR.